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We’ve got you covered so you can see how much Xero costs and decide which plan is best for your needs. We’ve also provided Xero alternatives if none of the Xero accounting plans fit your requirements. 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. Xero is a better option for businesses that need to track project profitability. This is because Xero allows you to see how much each project is costing you in real time and compare that to your estimated profits.
- This layout makes the reconciliation process, among other accounting tasks, particularly easy.
- We evaluated inventory as part of our A/P and A/R testing, so there’s no separate video.
- Helpful features include quote sharing with clients, multiple payment options and auto-charging for recurring transactions.
Users can also upload files like bank statements to register the transactions in the books. 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. FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions.
Xero Accounting – Premium – Good for established businesses of all sizes.
Given that there are several invoicing software on the market, it’s worth putting in some time to research your options before choosing one for your business. The pros and cons featured here are chosen by us based on our expert, research-based opinions. They are unlikely to be the only product features and restrictions that you should consider. Pros and cons are subjective and you should align them to your own personal and business circumstances. Information was correct at the time of publication but may have changed since. Yes, Xero offers customer support via email, phone, and live chat.
Customers who are brand new to accounting software will especially benefit from this level of help. Also, if you are already looking into a plan but feel like the features included are not quite enough, you can always check out the app marketplace. For an additional cost, you can create a Xero platform tailored to your business needs by adding a Xero product or a third-party solution. Another essential feature included in this plan is the app’s capability to capture bills and receipts using Hubdoc, Xero’s data capture tool.
- This can be helpful if your company is growing fast, or you simply want the reassurance that there’s no limit to how many people can be part of the team.
- All reimbursement claims can be easily approved from your end, thus making the process faster.
- Moreover, you can set rules to categorize every transaction and match them with each receipt, bill, or invoice.
- Xero includes extensive features that make it suitable to handle complex accounting processes for small- and medium-sized businesses as well as larger ones.
Your Xero data is backed up regularly and protected with multiple layers of security. We want to see comprehensive features in a mobile app, like sending invoices, entering bills, receiving payments, and entering vendor payments. examples of flexible budgeting Xero’s mobile app is basic, with features like receipt scanning, sending invoices, and expense categorization. However, users can’t receive payments from customers, record time worked, assign billable time, and generate reports.
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Xero also offers the option to add full-service payroll support from Gusto to any plan. If you are looking for payroll software in addition to accounting software, be sure to check out our guide to the best payroll software for 2023. The Early plan costs $15 per month and lets users send up to 20 invoices and schedule up to five bills per month (Figure A). Other features include reconciling bank transactions and capturing bills and receipts with Hubdoc. Xero is a cloud-based, double-entry accounting software tool that is designed with small businesses in mind. More than 3.5 million users all over the globe use Xero to manage their billing and invoicing each month.
Xero Accounting – Standard – Good for growing small businesses.
Overall, it did an excellent job in most of the areas we examined, even though it fell short in customer service and the mobile app. Let’s look at our accounting expert’s walkthrough, analysis, and evaluation of Xero’s accounting features. 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. But if you intend to hire external bookkeepers and certified public accountants (CPAs) to handle your business’ accounting, QuickBooks Online is more popular for US accountants and bookkeepers.
What is Xero?
In this Xero accounting software review, we’ll break down the pros and cons to help you figure out whether Xero is the right accounting tool for your needs. Xero, FreshBooks and QuickBooks all offer 30-day free trials and extensive features for online support, including a live chat, email support and a knowledge base. All three of these offer the ability to scale their accounting for larger businesses and both Xero and QuickBooks offer specific training for accountants.
Accounting software to do your to-do
Xero’s online accounting software is designed to make life easier for small businesses – anywhere, any time. Today’s leading accounting platforms offer standard security features like data encryption, secure credential tokenization and more. While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe. When it comes to Xero accounting software pricing, it is hard to imagine that cost is an issue but there may be features you’re looking for that are available in the Xero alternatives below.
Whether you’re an established business or start-up, see the latest offers from leading business bank account providers
For example, if you have an entry for an invoice of $1,000 and a recent $1,000 deposit in your bank account, it might suggest matching these two transactions. Click the “OK” icon between the two to verify the match is correct. See all your invoices, contacts, balances, financial information and accounts online.
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