Business.org’s star ratings are subject to frequent reevaluation and may be updated at any time. Some of the links on our site are from our partners who compensate us. Get the most out of Xero with access to our team of onboarding specialists during your first 90 days. There is also a lively community area that boosts the overall useability of the Xero experience. Xero is available in many other territories, so a look at their website will reveal other costing changes, plus the price of several additional extras that boost its capabilities. Get help with your financial admin from Xero experts whenever you need it.
- You can also do this on behalf of your employees through your web browser.
- Xero payroll offers a range of reports for internal use and helps you meet HMRC requirements each month.
- I appreciate that you can set up single sign-on to access Gusto using your Xero login credentials—and receive payroll alerts in Xero.
- By doing so, businesses can shift their focus from managing multiple software solutions to driving growth and innovation.
- You can also export these reports as PDF and Excel files—or open them directly within Google Sheets.
Inventory Management
When I clicked on a feature that looked like it was included, I was frequently rerouted to a page that prompted me to purchase an add-on, which was frustrating at times. Yes, Xero has the ability to manage multiple properties by setting up each property as a different tracking option. This will allow you to run reports filtered by property and create customized reports. Automate tax calculations on invoices and generate detailed reports with Avalara-powered sales tax features.
Discover practical solutions to prevent mistakes and ensure accuracy. After a 30-day trial period, Xero will bill a monthly charge of $20 per month for the Early plan, $47 per month for the Growing plan and $80 per month for the Established plan. For free invoicing platforms, consider Zoho Invoice, Square Invoices or PayPal Invoicing, although these platforms provide fewer capabilities. FreshBooks charges $19 per month and QuickBooks charges $35 per month). However, the best option and price point will depend on the specific capabilities and features you are looking for.
Xero’s xero online accounting software pricing structure is an excellent fit for growing businesses. Unlike many competitors, Xero’s pricing and plans are based on features instead of user numbers. All of Xero’s plans support unlimited users, which is great for expanding businesses. Xero also integrates with over 1,000 third-party business apps — one of the highest integration counts of any accounting software we reviewed. As a business moves into higher-growth phases, it will likely require more integrations to scale and operate efficiently.
The reporting tool distills your accounting data into easy-to-read bar charts, pie charts and other visuals. Popular options include the top 10 customers report, Xero’s budget manager and tools that let you drill down into your top revenue generators. Xero also lets you export multiple reports for further analysis or sharing. Small and medium enterprises across various industries rely on Xero, including retail, professional services, consulting, technology, and manufacturing sectors.
Alternatively, from any screen, I could simply click the “+” button at the top of the screen, then “invoices” to add a new invoice with two clicks. Xero does a fine job of mixing an enjoyable and modern-looking user interface with a huge collection of accounting features and functions. The platform’s help center is a valuable resource, offering an extensive FAQ section, in-depth support articles, and a blog filled with practical tips and insights. Users can also engage with a thriving community to exchange advice, troubleshoot problems, and share best practices. Additionally, step-by-step guides and an accounting glossary are available to help users navigate financial concepts and make the most of the platform’s features.
The interface is thoughtfully designed to cater to both accounting professionals and those new to financial management. With a clean layout, intuitive navigation menus, and clearly labeled features, users can easily locate the tools they need. Whether it’s creating invoices, reconciling transactions, or generating reports, the platform simplifies complex processes into straightforward steps. With your accounting software and data stored in the cloud, you can access your up-to-date accounts anywhere there’s an internet connection. Xero is also one of the few accounting software providers with an accounting app for both iOS and Android. While Xero’s app isn’t as popular or well-reviewed as QuickBooks’, it still lets users securely send invoices, reconcile bank transactions, and check business finances from any web-enabled device.
Automated bank reconciliation matches transactions with accounting records in real time through direct bank feed integration. Xero learns from previous entries to categorize transactions automatically and flags potential discrepancies for review. This automation reduces manual data entry, minimizes errors, and ensures accurate, up-to-date financial records. While Xero’s plans start at a cheaper price, QuickBooks offers more features across its plans. Then again, QuickBooks requires user limits for each plan while Xero doesn’t. We compared the two options in terms of their key features, pricing and customer service to help you decide which is right for your business.
Online Invoicing
Yes – the Xero App Store has hundreds of apps to help manage your business, including apps specifically designed for your industry and for doing business in the UK. Connect Xero to apps, integrations, and financial services to make it easier to run your small business. Luckily, both providers offer 30-day free trials (though if you opt for QuickBooks’ free trial, you won’t get the typical 50% off discount the company offers new users for their first three months).
Invoicing & bill pay
Account holders are able to customize online invoices to add a logo, accept payments instantly through the invoice, set automatic reminders for clients to pay and invoice directly from the Xero app. 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 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. If you use Xero, your financial data can sync seamlessly across payroll platforms like Gusto, expense and receipt tracking software like Expensify, and ecommerce apps like Shopify.
- The Forbes Advisor Small Business team is committed to bringing you unbiased rankings and information with full editorial independence.
- Users can download the free Xero Projects app to record time and costs, generate invoices and create reports.
- With Xero, you can manage cash flow, send invoices, and handle taxes from anywhere—making it easier to stay on top of your business accounting.
- However, I was somewhat disappointed when I clicked onto the “Chart of accounts” page.
- Choose the right accounts payable software for your growing business.
- Manage invoices, reconcile transactions, and track expenses directly from your smartphone or tablet, keeping your business operations accessible wherever you are.
Growing
Founded in New Zealand in 2006 by Rod Drury, Xero was born from the need for more accessible accounting software. It has since grown into a global platform serving millions, continually evolving through development, partnerships, and acquisitions to enhance its offerings for modern businesses operating online. Its cloud nature means you can access your financial data securely from anywhere with an internet connection, enabling flexibility and efficient collaboration. You can import data from another accounting system in bulk via CSV files once you’ve done the initial set up in Xero.
Analytics and reporting
To track employee time for payroll purposes, you can use Connecteam, the best time-tracking software that integrates with Xero. We liked Xero’s unique History & Notes feature, which displays an activity report at the bottom of every transaction screen. For example, you can see if an invoice was copied from a quote, who created and approved it and when those actions occurred.
Manual invoice processing creates costly bottlenecks and fraud risks. Learn about different matching types, implementation strategies, and how automation can improve accuracy and reduce errors. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website.
Xero’s Brex integration automates several critical financial processes, starting with automatic transaction importing and categorization based on customizable rules. As employees make purchases with Brex cards, transactions automatically sync to Xero along with corresponding receipt images and transaction details. The integration intelligently matches receipts to transactions, applies preset expense categories, and streamlines reconciliation by identifying and flagging matching transactions. This automation extends to recurring transactions and can handle multiple cards and users while maintaining detailed transaction records, ensuring you can effortlessly manage business receipts.
Simplify tax time
With Xero, you can manage cash flow, send invoices, and handle taxes from anywhere—making it easier to stay on top of your business accounting. Digital payment options are integrated into invoices, with a “Pay Now” button that lets customers settle their bills quickly and directly. Xero supports multiple payment methods, including credit and debit cards, digital wallets, and services like Stripe and GoCardless. The software also makes it possible to manage invoices on the go using the mobile app, enabling you to draft, send, and track invoices from your phone or tablet. Xero’s online invoicing software simplifies the process of managing billing and payments, offering tools that help businesses save time and stay organized.
We also considered our accounting expert’s opinion to derive our star rating for Xero. She has spent the last five years working on small business content to help entrepreneurs start and grow their businesses. She’s well-versed in the intricacies of LLC formation, business taxes, business loans, registered agents, business licenses and more.
For example, I can easily add a project by filling out a simple form, then access the project’s financial reporting and cost/income tracking from the left-hand “projects” menu tab. I could then send invoices from this page and record expenses and bills. From the same page, I could view project profitability reports, time cost reporting and estimates versus accrual reporting. While Xero excels in financial management, it has some limitations. Its customer support is limited to a single, email-based channel, and parts of its interface feel outdated. For businesses seeking employee management features like time tracking or communication, Xero’s integration with Connecteam offers a powerful solution.
