FlowFi vs MYOB for Australian sole traders
MYOB has been doing Australian accounting since the 1990s and its ecosystem is built for accountants first: practice tools, ledgers, payroll and the full MYOB Business range. MYOB Solo is its newer sole-trader product, priced around $10 to $15 a month, with bank feeds and an MYOB transaction account so income and spending can run through one place. For a sole trader whose accountant already lives in MYOB, Solo is the obvious low-cost option.
FlowFi is not an accountant’s tool and does not try to be. It takes the bank statement you already have, from any bank, and turns it into categorised transactions, GST figures and a BAS you can copy into ATO Online. There is no transaction account and no bank feed; your money stays where it is. Solo is cheaper on the sticker. FlowFi is built around AI categorisation of uploaded statements and a BAS copy-guide, which is a different way of working.
Side by side
| MYOB | FlowFi | |
|---|---|---|
| Price | MYOB Solo around $10 to $15 a month. MYOB Business plans for larger businesses cost more. | Pro $29 a month or $290 a year. Business $59 a month or $590 a year. 14-day free Pro trial, no card. |
| Who it is built for | Solo is aimed at sole traders. The wider MYOB ecosystem is built for accountants and bookkeepers first. | Australian sole traders and freelancers doing their own books, usually with no employees. |
| How transactions get in | Bank feeds, plus an MYOB transaction account you can run your business through. | Upload a CSV or PDF bank statement. No bank login and no bank feed. |
| AI categorisation | Feed matching and rules. Check the current Solo feature list for automation of categories. | YesYes. AI categorises every line of an uploaded statement with a confidence score, asks you to review only the uncertain ones, and learns from your corrections. |
| GST and deduction flagging | GST is tracked on transactions you code. No deduction flagging aimed at sole traders that we could confirm. | YesYes. GST is worked out per transaction and likely deductions are flagged for review. |
| BAS preparation | Activity statement figures from coded transactions. Check what Solo includes versus MYOB Business. | YesYes. Every BAS label is prepared on a copy-ready card with a guide for ATO Online, and a reminder email lands before the due date with your labels filled in. Or export the pack for your accountant. |
| Tells you what to set aside for tax | Check the current Solo feature list. | YesYes. Tax Pot shows what to have set aside for tax from your real transactions, the gap, and a weekly amount to close it. You keep the money in your own account. |
| Invoicing | YesYes. | YesYes. Tax invoices in four styles with your logo, emailed with the PDF attached, a link your client pays from by bank transfer or PayID, quotes accepted online, recurring invoices, and automatic reminders at 1, 7 and 14 days overdue when switched on. |
| Receipts | YesYes, capture through the app on most plans; check Solo. | YesYes. Attach receipts to transactions. |
| Mileage | Check the current Solo feature list. | YesYes. Log trips and apply the ATO cents-per-kilometre rate. |
| Cash-flow forecast | Check the current Solo feature list. | YesYes. A cash-flow forecast built from your invoices and history. |
| Human support | YesPhone and chat support; check hours for your plan. | Email support. FlowFi is software; keep your own accountant for advice. |
| Lodges for you | NoNo. You or your accountant lodge. | NoNo. You copy the prepared labels into ATO Online in a few minutes, or send the pack to your accountant. |
MYOB prices checked September 2026 at myob.com and rounded; see their site for current plans.
Choose MYOB if
- Your accountant works in MYOB and wants you on the same platform.
- You want a transaction account and bank feeds bundled with your bookkeeping for the lowest monthly price.
- You expect to grow into payroll and the wider MYOB Business range.
Choose FlowFi if
- You want to keep your existing bank account and simply upload the statement each month or quarter.
- You want AI to categorise the statement and flag GST and deductions rather than coding lines yourself.
- You want every BAS label pre-filled with a copy-guide for ATO Online.
Switching from MYOB
Export a statement from your bank
Download a CSV or PDF of the quarter from your bank, or from the MYOB transaction account if you used one.
Upload it to FlowFi
Drop the file in. AI categorises each line, works out GST and flags deductions.
Review and lodge
Check the categories, confirm the BAS labels and copy them into ATO Online. Export any MYOB reports you want to keep before you cancel.
Not sure where the export button is? How to export a bank statement CSV from the major Australian banks.
Questions people ask
Is FlowFi more expensive than MYOB Solo?
On the monthly price, yes: Solo is around $10 to $15 and FlowFi Pro is $29 ($290 a year). The difference is what you get: FlowFi is built around AI categorisation of uploaded statements, deduction flagging and a BAS copy-guide. Try both on a real statement and see which saves you more time.
Can my accountant get an MYOB file from FlowFi?
FlowFi exports in MYOB-compatible CSV format, plus PDF, CSV and Xero formats. Your accountant can import it or work from the PDF pack.
Do I have to move my banking?
No. FlowFi never touches your money and does not provide a bank account. You keep whatever account you have and upload statements from it.
Keep reading
Try FlowFi on your last bank statement
Upload one CSV or PDF and see categorised transactions, GST and BAS labels in minutes. Free for 14 days, no card.
Start 14-day free trial14 days of Pro free. No credit card. Then $29 a month or $290 a year.
MYOB is a trademark of its owner. FlowFi is not affiliated. Figures are general information only and may change; check both options' current pricing and features before deciding. FlowFi does not lodge your BAS or give tax advice.