Xero vs MyLedger: Complete Comparison for Australian Accounting Firms

# Xero vs MyLedger: Which is Better for Australian Accounting Practices? If you're an Australian accountant evaluating accounting software, you've likely considered Xero—it's been the industry standard for years. But is it still the best choice for your practice in 2025? Let's compare Xero with MyLedger, a new AI-powered alternative built specifically for Australian accounting firms. ## The Key Difference: Manual vs Automated The fundamental difference between Xero and MyLedger is automation. Xero is excellent accounting software that requires significant manual work. MyLedger is AI-powered software that automates the repetitive tasks that consume most of your time. ### Bank Reconciliation Speed **Xero:** Manual categorisation of transactions, though bank rules help with recurring items. Anything the rules do not match is coded by hand, every month. **MyLedger:** AI learns your coding patterns and pre-codes routine transactions before you sit down to review. A month of transactions arrives drafted; you review, adjust and approve. ### Working Papers Generation **Xero:** Manual creation of working papers in Excel. You export data and build your own templates. **MyLedger:** Automated generation of div7a calculations, interest calculations, MYR records, BAS reconciliation, and standard working papers—all generated automatically from your ledger. ### ATO Integration **Xero:** Limited integration. You manually input client TFN, ABN, and track due dates separately. **MyLedger:** Direct ATO portal integration. Pull client information, lodgement history, and due dates automatically. BAS, IAS, and ITR data flows directly into your system. ## Cost Comparison **Xero:** Pricing varies by plan, partner status and add-ons. Check current pricing with Xero. **MyLedger:** Priced per practice on a 12-month term. Onboarding is quoted for each firm and credited against the first year. Contact Fedix for a quote. ## Where the Time Goes Reconciliation and working papers are where most practices lose their week. MyLedger's aim is to hand you a ledger that is already drafted, so the hours go into review and advisory rather

than data entry. How much that saves depends on your client mix, data quality and how you code — run it on your own files to see. ## What Xero Does Better Let's be honest—Xero has advantages: - Larger ecosystem of third-party integrations - More extensive app marketplace - Clients can access their own books easily - Established track record and user base ## What MyLedger Does Better - AI-assisted reconciliation: routine transactions arrive pre-coded for review - Automated working papers generation - Complete ATO integration for client management - Built by Australian accountants for Australian practices - All-in-one pricing (no per-client fees) - Built out of a working Australian practice, on workflows refined over years of real compliance work ## Who Should Choose What? **Choose Xero if:** - You need extensive third-party integrations - Your clients manage their own bookkeeping - You prefer established, proven software - Time savings aren't your primary concern **Choose MyLedger if:** - You do reconciliation and compliance for clients - Time savings and automation are priorities - You want ATO integration built-in - You prefer predictable, all-inclusive pricing - You're a small to medium Australian practice ## Migration from Xero to MyLedger MyLedger supports Xero data import. You can migrate: - Chart of accounts - Historical transactions - Client details - Opening balances Run both systems in parallel until you have proven the numbers agree on your own files before you fully transition. ## The Bottom Line Xero is solid, established accounting software. MyLedger is next-generation automation specifically built for Australian accountants who spend too much time on manual reconciliation and compliance work. The right choice depends on your practice's specific needs. If you're spending hours on reconciliation and working papers every week, MyLedger's automation could transform your practice. If you need extensive integrations and don't mind the manual work, Xero remains a strong choice. **Ready to see the difference?** [Request a demo](/contact) to see MyLedger's automation in action with your own data.