Accounting software

Discover the top suppliers of accounting software used by wealth professionals, and learn how advice firms are using this technology.

What is the most popular accounting software?

Accounting software is used to manage accounts, track financial transactions, and receive reporting and analysis of business financials.

Accounting software can benefit your advice business in a number of ways. Accounting software helps increase efficiency in business operations, maintain budgets, and effectively manage staff payroll. 

Research from the Netwealth 2021 AdviceTech Report shows that the top suppliers of accounting software used by wealth professionals and financial advisers include: Xero (64.1 per cent of advice firms), MYOB (33.7 per cent), Reckon (9.4 per cent) and QuickBooks (8.8 per cent).


Netwealth's 2021 AdviceTech Report

The 2021 Netwealth AdviceTech Report explores six major opportunities and crucial technology trends that advice firms should consider as they evolve their client value proposition and enhance their customer experience.

How are advice firms using this technology?

Over half (52.0 per cent) of advice firms use accounting software. 

Of those firms that don't use accounting software currently (48.0 per cent), the majority (45.1 per cent), don't plan to do so in the next 24 months.

For those firms that use accounting software, the majority (45.5 per cent) do so daily, with 34.0 per cent doing so weekly.

More AdviceTech resources

Innovation workshop 

Netwealth has designed this 90-minute workshop to help you and your team prioritise technology solutions against business objectives to develop your business' AdviceTech roadmap.

Download toolkit

The Emerging Affluent Report

This report is a playbook for financial advisers on how to attract, manage and retain The Emerging Affluent.

Download report

2021 AdviceTech summary video from Matt Heine

This 12 minute video explores some of the core themes that are highlighted in Netwealth's 2021 AdviceTech report.

Watch Video