Choosing the Right GST Software
GST-compliant accounting software automates calculations, tracks expenses, generates BAS/GST returns, and reduces errors—saving hours every quarter. With dozens of options available in Australia and New Zealand, choosing the right software depends on your business size, industry, budget, and technical skills. This guide compares the top GST software solutions and helps you make an informed decision.
💡 Why Use GST Software?
- Auto-calculation: Software calculates GST on every transaction automatically
- Compliance: Built-in GST rules for AUS/NZ ensure accuracy
- Time savings: BAS/GST returns generated in minutes, not hours
- Error reduction: Eliminates manual calculation mistakes
- Audit trail: Complete records linked to every transaction
Top GST Software Comparison
| Software | Price (Monthly) | Best For | GST Features | Rating |
|---|---|---|---|---|
| Xero | $32.50 - $78/mo | Small-medium businesses, cloud-first | Auto GST calc, BAS/GST returns, bank feeds, receipt capture | ⭐⭐⭐⭐⭐ |
| MYOB Business | $27 - $70/mo | Australian businesses, established brands | BAS integration, GST tracking, payroll GST | ⭐⭐⭐⭐½ |
| QuickBooks Online | $20 - $90/mo | Beginners, US-based parent companies | Automated GST, multi-currency, mobile app | ⭐⭐⭐⭐ |
| Reckon One | $10 - $35/mo | Budget-conscious small businesses | GST returns, basic compliance | ⭐⭐⭐½ |
| Wave Accounting | FREE | Micro businesses, startups, side hustles | Manual GST tracking (limited automation) | ⭐⭐⭐ |
| Sage Business Cloud | $35 - $85/mo | Medium businesses, multi-location | Advanced GST reporting, multi-entity | ⭐⭐⭐⭐ |
Detailed Software Reviews
Pricing:
- Starter: $32.50/month (5 invoices, 20 transactions)
- Standard: $60/month (Unlimited invoices, multi-currency)
- Premium: $78/month (Projects, expenses, multi-currency)
GST Features:
- ✅ Automatic GST calculation on all transactions
- ✅ BAS (AUS) and GST return (NZ) direct lodgment to ATO/IRD
- ✅ Bank feed auto-categorization with GST codes
- ✅ Receipt capture via mobile app (Hubdoc integration)
- ✅ GST tracking reports (real-time)
- ✅ Cash/accrual accounting methods
- ✅ Multi-currency with auto GST conversion
Pros:
- ⭐ Market leader in AUS/NZ—most accountants use it
- ⭐ Cloud-based (access anywhere)
- ⭐ Beautiful, intuitive interface
- ⭐ 1000+ app integrations (Shopify, WooCommerce, PayPal)
- ⭐ Excellent mobile app
Cons:
- ⚠️ More expensive than competitors
- ⚠️ Starter plan limits transactions
Best for: Small-medium businesses (5-50 employees), service providers, e-commerce, any business wanting modern, cloud-first accounting.
Pricing:
- MYOB Business Lite: $27/month
- MYOB Business: $57/month
- MYOB Business Plus: $70/month (includes payroll)
GST Features:
- ✅ Integrated BAS preparation and lodgment
- ✅ GST on payroll (super, PAYG withholding)
- ✅ Cash and accrual basis support
- ✅ Import bank transactions with GST auto-coding
- ✅ GST audit reports
Pros:
- ⭐ Long-established in Australia (trusted brand)
- ⭐ Strong payroll integration
- ⭐ Excellent for retail (inventory + GST)
- ⭐ Phone support included
Cons:
- ⚠️ Interface less modern than Xero
- ⚠️ Fewer third-party integrations
Best for: Established Australian businesses, retail with inventory, businesses needing integrated payroll.
Pricing:
- Simple Start: $20/month
- Essentials: $40/month
- Plus: $60/month
- Advanced: $90/month
GST Features:
- ✅ Automatic GST calculation for AUS/NZ
- ✅ BAS reports (manual lodgment via accountant)
- ✅ Multi-currency with GST tracking
- ✅ Receipt capture (mobile app)
- ✅ Cash/accrual switching
Pros:
- ⭐ Very beginner-friendly
- ⭐ Strong US/global presence (if you have international operations)
- ⭐ Good for e-commerce (Amazon, eBay integration)
Cons:
- ⚠️ Less tailored to AUS/NZ than Xero/MYOB
- ⚠️ BAS lodgment not as seamless
Best for: Beginners, US-based companies with AUS/NZ subsidiaries, e-commerce sellers.
Pricing:
- Core accounting: FREE
- Payments: 2.9% + 30¢ per transaction
- Payroll: $40/month (limited availability in AUS/NZ)
GST Features:
- ⚠️ Manual GST tracking (add tax rates yourself)
- ⚠️ No direct BAS/GST return lodgment
- ✅ GST reports available
- ✅ Basic invoicing with GST
Pros:
- ⭐ Completely free (accounting features)
- ⭐ Good for very small businesses
- ⭐ Simple, uncluttered interface
Cons:
- ❌ Not AUS/NZ-specific (designed for North America)
- ❌ No automatic BAS creation
- ❌ Limited GST automation
- ❌ Manual data entry needed
Best for: Side hustles, freelancers with very low volume, businesses on tight budget (but be prepared for manual GST work).
Feature Comparison Matrix
| Feature | Xero | MYOB | QuickBooks | Wave |
|---|---|---|---|---|
| Auto GST calculation | ✅ | ✅ | ✅ | ⚠️ Manual |
| BAS direct lodgment (AUS) | ✅ | ✅ | ❌ | ❌ |
| GST return lodgment (NZ) | ✅ | ✅ | ❌ | ❌ |
| Bank feed auto-categorization | ✅ | ✅ | ✅ | ✅ |
| Receipt capture (mobile) | ✅ | ✅ | ✅ | ❌ |
| Multi-currency GST | ✅ | ✅ | ✅ | ⚠️ Limited |
| Cash & accrual accounting | ✅ | ✅ | ✅ | ✅ |
| Inventory + GST tracking | ✅ | ✅ | ✅ | ❌ |
| API integrations | 1000+ | 200+ | 650+ | Limited |
| Mobile app quality | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐ |
| Price (entry level) | $32.50 | $27 | $20 | FREE |
Industry-Specific Recommendations
🏪 Retail & E-Commerce
Best choice: MYOB or Xero
- Need: Inventory tracking with GST on cost price
- Xero integrates: Shopify, WooCommerce, Amazon
- MYOB: Strong Point of Sale (POS) integration
💼 Professional Services (Consultants, Accountants)
Best choice: Xero
- Need: Time tracking, project billing, expense claims
- Xero: Excellent project tracking with GST
- Most accountants already use Xero (collaboration easy)
🔧 Tradies (Plumbers, Electricians, Builders)
Best choice: MYOB or Xero
- Need: Job costing, quotes, invoicing on-site
- Both have mobile apps for field invoicing
- MYOB: Strong in construction/trades
🍽️ Hospitality (Restaurants, Cafes)
Best choice: Xero + POS integration
- Need: Daily sales, cash handling, GST on tips
- Xero integrates: Lightspeed, Square, Vend (POS systems)
- Auto-sync daily sales with GST breakdown
🚀 Startups & Freelancers
Best choice: Wave (free) or Reckon One (budget)
- Low transaction volume = free Wave works
- Upgrade to Xero/QuickBooks when revenue grows
Key Features to Look For
Essential GST Features:
- ✅ Automatic GST calculation on invoices and bills
- ✅ BAS/GST return generation (ideally with direct lodgment)
- ✅ Bank feed integration with auto-categorization
- ✅ Cash and accrual basis accounting options
- ✅ GST tracking reports (real-time liability)
- ✅ Multi-currency support (if you trade internationally)
- ✅ Receipt capture via mobile app
- ✅ Audit trail (every transaction logged)
Nice-to-Have Features:
- 🔹 Inventory management with GST tracking
- 🔹 Project/job costing with GST
- 🔹 Payroll integration (PAYG withholding)
- 🔹 API for custom integrations
- 🔹 Multiple users/accountant access
- 🔹 Recurring invoices with GST
Migration Tips
⚠️ Switching Software? Do This First:
- Complete current quarter: Finish and lodge current BAS/GST return before switching
- Export data: Download all reports from old software (5-7 year records required)
- Reconcile accounts: Ensure all accounts balanced before migration
- Use professional help: Consider accountant/bookkeeper for migration
- Parallel run: Use both systems for 1 month to verify accuracy
- Test GST calc: Verify new software calculates GST correctly
Cost-Benefit Analysis
| Scenario | Manual (No Software) | With Software (Xero $60/mo) | Savings |
|---|---|---|---|
| Time per quarter (BAS) | 8-12 hours | 1-2 hours | 6-10 hours saved |
| Accountant fees | $800/quarter | $300/quarter (review only) | $500 saved |
| Error rate | 5-10% (manual mistakes) | <1% (auto-calc) | Avoid penalties |
| Annual software cost | $0 | $720/year | -$720 |
| Net annual savings | $1,280+ saved |
ROI Calculation: $60/month software saves 6+ hours/quarter = 24 hours/year. At $50/hour value, that's $1,200 time savings + $500 accountant fee reduction = $1,700 total benefit vs $720 cost = 136% ROI
Final Recommendations
✅ Our Top Picks:
- Best overall: Xero (modern, cloud-first, excellent for most businesses)
- Best for Australian businesses: MYOB (local support, strong payroll)
- Best for beginners: QuickBooks (easy to learn, affordable)
- Best for budget: Wave (free, but manual GST work required)
- Best for retail: MYOB or Xero with POS integration
- Best for services: Xero (project tracking, time billing)