If you’re still on the fence, check out our picks for the best small business accounting software to compare your options. While Xero has a lot going for it, pricing increases, a lack of built-in payroll, and limited features on its least expensive plans are potential issues. Additionally, customer support has gone downhill since our last review. Still, despite the price ruling out the software for some small businesses, Xero has a lot to offer for medium and large businesses or those in need of multiple users. The mobile app works with Xero accounting software to help you run your small business from anywhere. Keep track of your unpaid and overdue invoices, bank account balances, profit and loss, cash flow, and bills to pay.
What is better: QuickBooks or Xero?
On the other hand, FreshBooks may be a better fit for freelancers and solopreneurs, as the capabilities are easier to navigate. Xero’s invoicing capabilities allow you to create and customize an invoice for clients and then accept credit card, debit card or bank transfer payments within the invoice itself. Xero processes payment through a payment gateway like Stripe, GoCardless and others. Keep in mind that these services charge a fee to process payments (usually around 2.9% plus 25 cents per transaction, though this varies by the payment processor). The Early subscription is tailored non-profit organizations wex lii legal information institute for solopreneurs and business owners who are just getting started. You’re able to send 20 quotes and invoices per month, enter five bills, reconcile bank transactions, capture bills and receipts with Hubdoc and view a short-term cash flow and business snapshot.
Contact Management
To get the most out of your software, Xero has 1,000+ integrations to choose from. If this isn’t enough, Xero also integrates with Zapier, connecting the software to hundreds of additional add-ons. Some Xero integrations are country-specific, so make sure they are compatible before you make any additions or purchases.
Xero Review 2024: Features, Pricing & More
QuickBooks Online is limited to 25 users on its most expensive plan but is easier to use, offers tax support, and has stronger mobile apps. While the software is well-organized, it does have a steep learning curve (not as steep as QuickBooks, but it is more difficult to learn than other cloud-based options). It takes quite a while to explore all of the features it has to offer, but once you get acquainted with the software, Xero is fairly easy to use. Getting started is the most difficult part, and it’s this learning curve that lowered our ease of use rating to 3.8/5. Xero does a fine job of mixing an enjoyable and modern-looking user interface with a huge collection of accounting features and functions.
However, we are disappointed that Xero lacks tax support, doesn’t have more advanced inventory (unless you purchase the Inventory Plus add-on), and doesn’t have more invoice templates. Xero has had even more new features added and, as cloud-based services go, this currently has to be one of the most fully featured options on the market. Xero may be harder to learn than a simpler invoicing platform like Square Invoices or Zoho Invoice. However, it’s generally considered easier than QuickBooks Online.
Here, you can produce invoices, bills, purchase orders and more besides, with one-click ease. Xero provides multiple layers of protection for the personal and financial information you entrust to Xero accounting software. Security is a priority for Xero, as we know it is for you, so it’s also important you also take steps to safeguard your data. Today’s leading accounting platforms offer standard security features like data encryption, secure credential tokenization and more.
- Data is backed up daily across various servers, and regular security audits are performed.
- It’s also a good fit if you want to integrate Gusto Payroll to your accounting platform.
- Next up, the Growing package costs $32 per month and lets you send invoices and quotes, enter bills and reconcile bank transactions.
- The software makes it easy to pay bills, claim expenses, accept payments, track projects, manage contracts, store files and more.
Xero is cloud-based accounting software that packs a real punch when it comes to features and functionality. Based in New Zealand, the multi-faceted package currently comes in three incarnations and is aimed at small, medium and larger-sized businesses. Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication.
Xero Growing Plan
Explore Xero accounting software and its tools for small businesses, accountants, and bookkeepers. We spend hours researching and evaluating each accounting software system we review at Merchant Maverick, placing special emphasis on key characteristics to generate our ratings. Xero offers a free 30-day trial and even has a demo company set up already, so you can explore the software before you buy it. Xero offers discounts for nonprofits and owners of multiple companies. Xero has been known for offering discounts in the past, so be sure to check the company’s website to see if it’s having a sale. Things start out at the Dashboard, which is just that; the area that lets you move into the other sections of the site and from which you can manage the overall way it ticks.
