A Xero alternative, built for Malaysia
Xero is a superb global cloud accounting platform. But “global” means Malaysian statutory payroll and e-invoicing sit outside the core. AccountMi flips that: EPF, SOCSO, EIS and PCB payroll, an MFRS chart of accounts and SST are built in. Here’s an honest comparison.
AccountMi vs Xero
| AccountMi | Xero | |
|---|---|---|
| Built for | Malaysian SMEs, first | A global audience |
| Payroll | Native EPF, SOCSO, EIS, SKBBK, PCB | Not native to Malaysia — via third parties |
| Chart of accounts | MFRS-aligned, SST-ready out of the box | Generic; localise yourself |
| Pricing | Transparent monthly, from RM23 | Premium global pricing tiers |
| App ecosystem | Focused, all-in-one core | 1,000+ third-party integrations |
| Multi-currency | Ringgit-focused | Extensive multi-currency |
| e-Invoice (MyInvois) | Pairs with the MyInvois portal | Via connectors / partners (not native) |
When Xero is the better fit
If you operate in several countries, want a vast library of third-party integrations, or rely on heavy multi-currency, Xero’s global platform and ecosystem are hard to beat.
When AccountMi is the better fit
If you’re a Malaysian SME that wants statutory payroll, an MFRS/SST-ready chart of accounts and clear monthly pricing — without bolting on apps to make a global tool local — AccountMi is built for you. Try the salary calculator to see the native payroll engine.
Frequently asked questions
- Why choose AccountMi over Xero in Malaysia?
- AccountMi is built for Malaysia first: EPF, SOCSO, EIS and PCB payroll, an MFRS-aligned chart of accounts and SST are part of the product, not add-ons. For a Malaysian SME that wants statutory compliance handled and simple monthly pricing, that’s a lot less assembly than localising a global tool.
- What does Xero do better?
- Xero is a mature global platform with a very large third-party app ecosystem and strong multi-currency support. If you operate across many countries, need niche integrations, or already run a Xero-based stack, it’s an excellent product.
- Does Xero handle Malaysian payroll and e-invoicing?
- Xero does not include native Malaysian statutory payroll (EPF/SOCSO/EIS/PCB) or native MyInvois e-invoicing; both are typically handled through third-party apps or partners. AccountMi includes the payroll natively and pairs with the MyInvois portal for e-invoicing.
- Can I move from Xero to AccountMi?
- Yes — import customers, suppliers, your chart of accounts, opening balances and bank statements via CSV, with free guided onboarding for founding businesses, and export your data any time.
Malaysia-first accounting & payroll
EPF, SOCSO, EIS and PCB payroll, MFRS chart of accounts and SST — all built in. Start free for 30 days, no credit card.
Start free for 30 days