Ledger Setup
Part of Choosing accounting software for an Australian business
Bookkeeping software versus an ERP finance module
Decide whether bookkeeping software covers your finance work or an ERP finance module is needed to connect operations and accounting.
Use bookkeeping software when the main job is to record and review invoices, bills, payments and accounts. Explore an ERP finance module when those records must closely connect with purchasing, stock, warehouse, projects or manufacturing. Business size alone does not settle the choice. Look at where information is re-entered, delayed or lost between teams.
Follow a transaction beyond finance
Take a purchase that matters to your business. Who raises the order, receives the goods, checks the supplier bill and allocates the cost? Identify which system owns the quantity, cost and approval at each step. A correct ledger entry can still arrive too late to help the people managing stock or orders.
A service business with a few invoices and expenses may be well served by bookkeeping software and clear approvals. A distributor may need purchasing, stock movements, fulfilment and finance to share current information. Accounting products can also support stock and orders or connect to specialist systems, so examine the actual workflow rather than relying on a category label.
MYOB Business Lite lists inventory and orders, GST tracking and BAS lodgement; AccountRight Plus lists unlimited inventory. Business Central describes broader connections across finance and operations, including supply chain management and project costing. Stock or orders alone do not establish that an ERP is necessary: the deciding issue is whether your current tools keep the operational and financial records connected without repeated hand-offs.
| Question | Bookkeeping route | ERP route |
|---|---|---|
| Where does a sale begin? | In accounting or a connected sales tool. | Potentially in a shared order and fulfilment process. |
| Where is operational detail held? | In the accounting product or a connected specialist system. | Potentially alongside finance in the ERP platform. |
| What needs checking? | Feature limits, data mapping, hand-offs and reconciliation. | Configuration, roles, process design and end-to-end posting. |
Include implementation in the comparison
The Microsoft licensing guidance includes Business Central Essentials and Business Central Premium, with additional capabilities listed for Premium. Those licensing tiers establish licensed capabilities, not that a buyer's process will work without configuration or extensions.
Business Central Essentials and Premium are licensed per user. The licensing guidance refers readers to a Microsoft account team or a Dynamics Certified Partner to determine the right technology solution, including licence requirements for a specific product or scenario. A complete list of product features and capabilities is in technical documentation; the guidance is not a legally binding rights document.
MYOB's listed offer prices include Business Lite at $94.50/year, then $315/year after the offer period, and Business Pro at $21/month, then $70/month after the offer period. AccountRight Plus is listed at $66/month, then $165/month after the offer period. These prices do not provide an ERP licence or implementation comparison; Business Central Essentials and Premium are per-user licences, and their prices are not stated here.
A bookkeeping route can also require integrations and regular checks. Decide which system creates each financial entry, how totals are reconciled and who corrects a failed transfer. Compare that ongoing work with the ERP setup, migration, training and support effort, and ask for a scoped estimate of implementation time and cost for either route.
Ask a proposed partner to demonstrate the Australian bank, tax and operational setup you would use, including any separate service or extension. Do not assume payroll is included in the finance module.
Payroll needs a separate check: MYOB Business Lite lists payroll for up to 2 employees at an extra $3/month per employee, while Pro lists payroll for unlimited employees at an extra $3/month per employee. AccountRight Plus lists unlimited payroll at no extra cost. Single Touch Payroll (STP) reporting sends employees' salary, PAYG withholding and superannuation to the ATO; a finance-module choice does not by itself establish that payroll reporting is covered.
Have your accountant review the proposed ledger and GST mapping. MYOB Business Lite lists GST tracking and BAS lodgement, but confirm that the plan and setup meet your business's requirements.
Pricing Overview for Australian Accounting Solutions
- MYOB Business Lite (post-offer)
- $315/year
- MYOB Business Pro (post-offer)
- $70/month
- AccountRight Plus (post-offer)
- $165/month
- Payroll (MYOB Business Lite – up to 2 employees)
- +$3/month per employee
- Payroll (MYOB Business Pro – unlimited employees)
- +$3/month per employee
- Payroll (AccountRight Plus)
- No extra cost
Choose a threshold you can explain
Use an operational go/no-go test: explore ERP if a critical purchase, stock or fulfilment event must update finance and operations, but your current tools require staff to re-enter or reconcile the same information. If bookkeeping software and connected systems keep those records current and reconciled without material hand-offs, continue with that route. There is no employee or transaction count in this comparison that settles the choice.
Ask suppliers in both categories to demonstrate the same purchase-to-payment and sale-to-receipt scenarios, including a correction. Have your accountant review the proposed ledger and GST mapping.