Xero Review: Features, Pricing & Alternatives

With its relatively affordable price points, you get features that you’ll only see in higher-priced plans of other accounting software. However, we found that Xero isn’t suitable for nonprofit entities or specific businesses needing multicompany accounting features. Although overall, it’s great for daily accounting, inventory keeping, and project management. We recommend it for project- and product-based companies because of its flexible features.

All plans include 24/7 live chat support; phone support is available 5 a.m. For example, when you purchase the Pro Plus Desktop plan, you can have up to three concurrent users but each of those users must pay for their own account (at $349.99 each per year). Its Online version allows up to 25 users at no additional cost, provided you’re paying for the Advanced plan.

Plans are affordable, starting at $13 per month, but no free plan. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Learn more about what Xero can do to make life easier for your small business.

Xero vs Competitors FSB Case Study

Zoho, for example, is accounting software with a free invoice platform that allows you to bill in multiple currencies. The invoicing software in Xero lets you set up automatic reminders so customers receive a customized email from your small business when an invoice is due or overdue for payment. Xero’s online accounting software is designed to make life easier for small businesses – anywhere, any time.

  • Invite your advisor to work with you on the online accounts anywhere, anytime.
  • FreshBooks charges $17 per month and QuickBooks charges $30 per month).
  • Our friendly accounting specialists are here to help, around the clock.
  • Kristy Snyder is a professional writer and editor living in Pittsburgh with over 10 years of content creation experience.
  • Once you’ve exported your document into Google Sheets, you can edit, save or share it.

The only setback we see here is that users can’t enter ending balances of checking accounts—they have to upload the bank statement first before reconciling. It can create recurring bills, but you’ll need to record the payment of that bill manually. It would be nice to have an option for a recurring expense to be deducted from your checking account automatically. Users that are new to bookkeeping won’t be overwhelmed by Xero’s simple and easy-to-navigate layout. This layout makes the reconciliation process, among other accounting tasks, particularly easy.

Small Business Resources

It also has an outstanding PO system to convert POs into bills, track unpaid bills, record e-payments, and apply vendor credits. In other features, Xero and QuickBooks Online are head-to-head, and their differences don’t have a significant effect on the overall experience. However, the most notable difference is that Xero has no user limit—you can add as many users as you like, making it more scalable and flexible than QuickBooks Online. You can sync your Xero account to your Gmail and thereby export Xero reports or budgets to Google Sheets.

All you have to do is just a few clicks, and you can easily create an invoice from your computer, laptop or mobile device for a client and then email it. To get started with Xero, all you need to do is purchase the monthly package as per your small business needs and log in using your username and password. Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you.

You can also find some alternatives to Xero here to help you manage your small business accounting. These features will give your small business a leg up on the competition in a world where the vast majority of small businesses fail in the first three years. All the reports in Xero have fully customizable features, which enable you to run a report in seconds for whatever period you need.

Xero Alternatives

Xero and QuickBooks are both great accounting software options for small businesses. They both offer a wide range of features, an easy-to-use interface and competitive pricing. Xero and QuickBooks are two the of most popular accounting software solutions for small businesses looking to keep track of finances.

Useful features to run your business

Making sure you’re in control of what’s going in and out of your small business’s account is important to the financial survival of your company. While it claims it has 24/7 online support, what it really means is that it has an online community you can ask questions in. If you need to speak with a person, you can only do so between 9 a.m.

Individuals who are successful bookkeeping professionals are highly organized, can balance ledgers accurately, have an eye for detail and are excellent communicators. Plus, Xero even allows you to share financial information with your professional advisors and colleagues, and the best part of it is that there are no limits on the number of users. urban dictionary With projects, you can now quote, track, invoice and get paid for jobs all within Xero. While doing the data entry, you can view side-by-side files to enter your bills with the attached file. You can also send the customer account statement directly from Xero. Send all of your invoices simultaneously or email multiple invoices at once.

Features: Xero vs. Sage

You can also browse the Xero Central support database for articles and guides on your issues. This can be great for freelancers doing a ton of business each month. Automatic bank reconciliation makes sure your transactions are in sync, while the automated system converts quotes and estimates into sendable invoices. Don’t forget about the multi-currency support, which lets you accept payments from international clients. Xero and Sage are two excellent accounting options for small businesses looking to get their finances in order.