2026 MYOB Pricing Explained for Sole Traders: Compare Solo + MYOB Business Accounting Software

MYOB has been around since 1991, making it one of Australia's oldest accounting platforms.

But with a recent overhaul of their product lineup, understanding what you're actually signing up for takes a bit of work.

We'll guide you through exactly what each plan includes, what it costs, what to consider when reviewing each plan, and which plans might make sense for your solo business.

The following information reflects current MYOB pricing and plans as of April 2026. All plans are in AUD and include GST. 

2026 MYOB plans and pricing for sole traders at a glance

MYOB regularly offers heavy discounts to attract new users. These can look appealing on the surface, but once the promotional period ends, you'll revert to the full price.

When comparing MYOB against other options, always evaluate the full ongoing monthly rate rather than the discounted introductory price.

2026 MYOB pricing breakdown

Solo: Best for sole traders with minimal admin

Monthly cost: $11

Solo is the newest addition to the MYOB lineup, built specifically for sole operators, freelancers, and the self-employed.

 It's a mobile-first app, available on iOS and Android. If you want to create invoices and snap receipts as you work on the go, Solo is MYOB's answer.

That said, Solo does come with some notable limitations that are worth understanding before you commit.

Pros:

• Cheapest option for sole traders by a wide margin

• Simple, mobile-friendly interface

• Unlimited invoicing with automated payment reminders

• Can use Tap to Pay to accept payments on-site, or offer convenient online payments

• Can snap pictures of receipts directly from your mobile app

• Free Solo Money business bank account included

• BAS prep (in beta)

Cons:

• Mobile app only, with no desktop or browser access

• No quoting – a serious limitation for many sole traders

• Limited invoicing features – no deposits, recurring invoices, automated receipts

• No job tracking or project management

• Only basic income and expense reporting – no profit and loss reports, no customisation or filtering, no reporting across time periods, categories, or jobs

• No ability to share data with accountant – you'll have to manually export records

• Can't easily upgrade to another MYOB Business plan or accounting software as you grow

Overall, Solo does lack basic features that are offered in MYOB's other plans and by other solutions for sole traders.

It may be enough if you have very basic accounting needs and don't need to provide quotes to clients, although sole traders may find themselves outgrowing it very quickly. 

If you start on Solo and decide you need more features later, you'll have to start fresh with a brand new account. This is a significant limitation compared to MYOB's Business plans, which all allow you to upgrade or downgrade easily. 

MYOB Business Lite: Best for sole traders looking to grow

Monthly cost: $35

This is MYOB's entry-level web-based accounting plan. For most sole traders, it's where the real accounting functionality begins.

Unlike Solo, Lite gives you a proper browser-based platform, full GST and BAS management, bank reconciliation, job tracking, basic inventory management, and the option to add payroll if you need it for up to 2 employees. 

You can also share access with your accountant or bookkeeper at tax time, something Solo doesn't support.

There are still some downsides, namely the jump in price (roughly $24 more per month vs Solo) and the fact that it can be complex for some sole traders with simpler accounting needs. 

But for many sole traders who want a solution they can continue to use as their business grows, Lite is a solid foundation.

Pros:

• Unlimited invoicing and quotes, and more automation (like recurring invoices)

• Full GST tracking and the ability to lodge BAS directly with the ATO

• Bank feeds and reconciliation (up to 2 bank accounts)

• Receipt capture via the MYOB Assist app

• Tax-ready reports (Profit and loss, Balance sheet)

• Profit and loss tracking per job

• Easily share access with your accountant

• Can upgrade to Pro or AccountRight plans in future

• Works in browser on desktop, tablet, and phone

• AI invoice reminders (in beta)

Cons:

• $35/month is notably more expensive than Solo

• More complex than Solo and may feel like overkill for some sole traders

• Bank feeds limited to 2 accounts

• Payroll is an add-on, not included ($3/employee/month)

• Unlimited inventory is an add-on, not included ($22/month)

• No billing by time or advanced job budgeting

• Reporting is still basic compared to higher-tier plans (limited customisation/breakdowns)

MYOB Business Pro: Best for sole traders who have employees or sell physical products

Monthly cost: $70

The main upgrade here is the removal of the 2-employee cap on payroll, meaning you can add as many employees as you need at $3/employee/month (on top of your Pro subscription).

Pro also offers more advanced reporting, unlimited sales orders, timesheets, and the ability to connect as many bank accounts as you need.

MYOB is also looking to add a few new AI features to Pro including business insights and smart reconciliation, which are currently in beta. 

But at this price point, this plan only really makes sense if you need features like inventory or payroll.

Most sole traders won't find enough value here to justify spending nearly double the price of Lite each month. 

Should sole traders consider MYOB Business AccountRight Plus or Premier plans?

At $165 - $210/month, these plans are well out of budget for most solo operators.

Even if you can afford them, you'd be paying for a huge amount of functionality you'd never use.

The one feature that might tempt sole traders is multi-currency invoicing in the Premier plan, but other accounting tools offer this at a fraction of the price.

Frequently asked questions about MYOB Business and Solo

Does MYOB offer a free trial?

MYOB offers a 14-day free trial on monthly plans. You will need to enter your payment details upfront, so if MYOB isn't right for your business, make sure you cancel before the trial period ends to avoid being charged.

It's important to note that the only way to cancel your plan is to phone the company directly. This process can be quite frustrating, based on what customers say about MYOB Business and Solo. 

Can I pay yearly to save on my MYOB subscription?

MYOB does offer an annual payment option which works out cheaper over the course of a year. Solo, for example, is available for $99/year when paid upfront (compared to $132 if you pay monthly).

Will MYOB be raising its prices in 2026?

MYOB has a history of frequently raising its prices, and has recently increased the subscription cost for Business plans as of March 2026.

Most of these increases are targeting higher-tier plans, so won't be as impactful for sole traders. 

Here's a quick summary of how prices have changed.

• Business Lite: $34 ⮕ $35

• Business Pro: $63 ⮕ $70

• AccountRight Plus: $150 ⮕ $165

• AccountRight Premier: $195 ⮕ $210

• Payroll Add-On: $2/employee ⮕ $3/employee

While further price changes for 2026 or 2027 aren't confirmed yet, it's worth factoring in the possibility of increases when budgeting.

The verdict: Choosing the right plan for your business needs

• Want the cheapest option and only work from your phone? Solo is MYOB's most affordable plan and is purpose-built for sole traders, but comes with real limitations.

• Want proper accounting software you can access on a computer? Business Lite is your starting point.

• Have employees or plan to hire? Business Pro supports unlimited payroll as an add-on, making it a better fit for growing teams. 

• Have international clients? You'll need AccountRight Premier at $210/month for multi-currency. At this price point, it's worth exploring other solutions that could be a better fit for your business (and budget).

It's worth mentioning that MYOB's history is in accounting for small business, larger companies, accountants, and bookkeepers.

Solo is a genuine attempt to serve sole traders.

But in their efforts to create an app that's easy to use, a lot of functionality has been stripped out and many sole traders will find it's not enough. 

It may be worth considering if MYOB software is the right choice for your business and looking at some of the other alternatives that are available for Australian sole traders. 

When to consider an alternative to MYOB accounting software

You might want to look at other options if:

• You're a service-based solo business who just needs to quote, send invoices, track expenses, and lodge BAS

• You want time tracking built into your invoicing system 

• You need multi-currency invoicing without paying $210/month

• You find MYOB Business's interface too complex for your business needs

• You're looking for a purpose-built sole trader solution that offers more than the basics

• Budget is a top priority and you're looking for a more affordable solution than MYOB Business

What is the best alternative to MYOB in Australia for sole traders?

Solo is affordable and simple to use, but underpowered for most sole traders.

Business Lite is a full-featured accounting software, but built with accountants and bookkeepers in mind and comes with a steeper price tag. 

If you're looking for a middle ground, Rounded is an Australian invoicing and accounting app designed just for sole traders that has all the tools you need to run your business. 

How Rounded compares to Solo and MYOB Business accounting software

• Quoting and invoicing on all plans. Send professional quotes in minutes and turn into invoices instantly. Templates are fully customisable, so you can edit the design, labels, and branding to suit your business. 

• Advanced invoicing features: Rounded lets you accept deposits and automate more of the invoicing process – including recurring invoices, line item templates for your services, and automated receipts. Find out more.

• Works on desktop and mobile. Solo is mobile-only, which is a real limitation if you do any work at a desk. Rounded works in your browser on any device, so you're not locked to your phone.

• Unlimited bank accounts on all plans. Connect as many accounts as you need and get auto-suggestions to speed up reconciliation. Rounded uses Open Banking, so you never have to share your banking details.

• Share your account with your bookkeeper or accountant. Rounded has a dedicated Accountant Portal that allows your advisor to securely access your data. No need to manually export.

• Built-in time tracking. MYOB doesn't include time tracking on Solo, Lite, or Pro. Rounded's time tracker feeds directly into invoicing, so you can track time at your desk or via the mobile app and bill it with one click. No separate tool needed.

• Integrated kilometre tracking. MYOB doesn't offer kilometre tracking on any plan. Rounded users can connect their account to Rounded Trax and instantly turn tracked business trips into expenses so that everything's in one place at tax time. 

• Multi-currency. Rounded offers multi-currency invoicing on all plans. If you want the same functionality from MYOB, you'll have to pay up to 850% more for an AccountRight Premier plan.

• Price. Rounded Pro at $29.95/month costs less than MYOB's cheapest full accounting plan (Business Lite at $35/month), and is less than half the price of MYOB Business Pro. You get more than Solo offers, for less than Lite costs. Over a year, that's a meaningful saving for a sole trader watching the bottom line.

What customers say about Rounded

Thousands of sole traders across Australia choose Rounded to run their business. Here's why:

"I tried MYOB and all that sort of stuff. Way too hard. It required specific training and education in accounting. With Rounded, you open it up and you start clicking... it’s much easier for a business like mine.”

- David, Builder

"Just brilliant. Does everything I need as a sole trader. No complicated rubbish, just the important stuff you need to keep your business running. Great support too."

- Leonie Waldron, Marketer

 "Rounded has saved me so much time! Turning quotes to invoices and receipts is simple. With Rounded, I feel like I have a colourful and brilliant personal assistant."

- Dr Sonja Vanderaa, Consultant

See if Rounded will suit your solo business

Start your free trial today. No credit card required.