Matrix
An alternative to Xero
If you are looking for an alternative to Xero, Matrix is Australian accounting software that keeps a real double-entry ledger — GST, BAS, invoicing, bills and bank reconciliation — with a CRM and project boards in the same product, priced per business rather than per user.
What changes when you move from Xero
- A CRM with a sales pipeline, deals and activities is built in, on the same contacts as your books. Xero connects to separate CRM apps.
- Multi-currency and projects are on every plan. Xero includes them from its Comprehensive and Ultimate plans respectively.
- Kanban project boards for planning work sit beside the accounts.
- Built and operated in Melbourne, Australia.
| Capability | Matrix | Xero |
|---|---|---|
| Users | IncludedUnlimited users on every plan | IncludedNo per-user licence fees |
| Pricing | IncludedPer business, never per user | IncludedPer organisation |
| Bank transactions | PartlyStatement import (CSV, OFX, QIF); live feeds coming | IncludedDirect feeds from Australian banks |
| Bank reconciliation rules | Included | Included |
| Invoices, quotes and reminders | Included | IncludedIgnite plan limited to 20 invoices |
| Bills and supplier payments | Included | IncludedIgnite plan limited to 5 bills |
| GST and BAS preparation | IncludedCash or accrual, with BAS workpapers | Included |
| Lodge BAS to the ATO | ComingBusiness Pro | Included |
| Payroll | Higher plansBusiness Pro: pay runs, leave, timesheets, rosters and awards; no Single Touch Payroll | IncludedNumber of people paid capped by plan |
| Multi-currency | Included | Higher plansComprehensive plan and above |
| Inventory | Included | IncludedTracked inventory, up to 4,000 items |
| Projects and job costing | Included | Higher plansUltimate plan |
| Fixed assets and depreciation | Included | Higher plansStated for Grow plan and above |
| CRM: pipeline, deals and activities | IncludedBuilt in, same contacts as the books | Not offeredNo built-in CRM; connects to CRM apps |
| Project boards | IncludedKanban boards for planning work | Not confirmed |
| Public API | ComingBusiness Pro | Included |
Xero's features are from Xero Limited's own website, checked on 27 September 2026. Plans and features change, so please check with Xero Limited before you decide. Not confirmed means we couldn't confirm it from their published information, so we make no claim either way. Spotted something out of date? Tell us and we'll fix it.
Moving your books to Matrix
1
Bring your chart of accounts
Import it from a CSV file. Matrix matches the columns, skips accounts you already have, and adds the right prefix to codes that need one.
2
Start from your balances
Enter your opening balances, and the invoices and bills still unpaid on the day you move, so nothing owed is lost between the two.
3
Check it agrees
Matrix produces a reconciliation report showing everything agrees before you start, and your whole team signs in at no extra cost.
Frequently asked questions
How do I move my books from Xero to Matrix?
Choose a date to switch — the start of a month or quarter is easiest. Import your chart of accounts from a CSV file, then enter your balances and the invoices and bills still open on that date; there's no need to re-enter history. Matrix produces a reconciliation report showing everything agrees before you start.
Is there anything Xero does that Matrix doesn't yet?
Two things. Xero lodges your BAS straight to the ATO, where Matrix prepares it with workpapers and lodging is coming on Business Pro. And Xero's payroll includes Single Touch Payroll; Matrix payroll, on Business Pro, doesn't, so you would report pay to the ATO another way.
Will leaving Xero cost more as my team grows?
No. Matrix has no per-user fees — every plan includes unlimited users, priced per business. Xero doesn't charge per user either, so adding people costs nothing on both.
Sources
- https://www.xero.com/au/pricing-plans/
- https://www.xero.com/au/accounting-software/connect-your-bank/
- https://www.xero.com/au/accounting-software/reconcile-bank-transactions/
- https://www.xero.com/au/accounting-software/send-invoices/
- https://central.xero.com/0/article/Lodge-activity-statements-with-Xero
- https://www.xero.com/au/accounting-software/payroll/
- https://www.xero.com/au/accounting-software/manage-inventory/
- https://www.xero.com/au/accounting-software/manage-fixed-assets/
- https://www.xero.com/us/accounting-software/manage-inventory/crm-inventory/
- https://developer.xero.com/
Xero is a trade mark of Xero Limited. Matrix is not affiliated with, or endorsed by, Xero Limited.
Looking for a Xero alternative? Try Matrix free
30 days free, no card needed. One price per business, and every user is included.
Charities and not-for-profits get 50% off.