Early on, I tried to get someone to sell me Accounting Power and/or Sage 50, but neither company seemed organized enough to close the sale. I was looking for a software partner that I could build my practice on and Xero were the ones balance sheet vs income statement difference and comparison who showed me they wanted to be that and had a plan to make it happen. The Xero App Store is giant, featuring over 1,000 apps you can add on. But having the options available means there’s always likely a solution for your issues.
Beyond basic accounting functions, Xero also allows you to manage your inventory, as well as create and send purchase orders on the go. You can also create online quotes and estimates using existing templates or by customizing your own. Moreover, quotes that have been accepted and fulfilled can be converted into invoices, thus saving you time that you can use to focus on other urgent matters. Managing your finances is one of the most time-consuming and arduous parts of operating a business. Regardless of the size, businesses deal with the same challenges in accounting finances.
They seem to really care about their advisors and see them as key to their business model. However, if you’re looking to switch from one program to another, you may be able to download your data and migrate it into the new software. Let Xero take the guesswork out of choosing the right plan for your business needs in under 2 minutes. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. However, as the need arises, you may hire a Xero-certified accountant to help you keep your books of accounts accurate and organized. Receipts and bills can be uploaded to the Xero platform by taking photos or scanning them.
Though such a feature doesn’t impact the overall performance of Xero that much, not being able to group payments into bank deposits makes it difficult to reconcile your bank account. In the accounts receivable (A/R) management portion, we evaluated major aspects like invoice creation, inventory adjustments, and customer payments. For invoice creation, we found that Xero doesn’t give users the ability to customize the invoice in terms of invoice color, layout, and font. Although it lets you customize invoice elements, such as invoice line items, we wanted to see some personalization in creating invoices. Accounts payable (A/P) management is one of Xero’s strongest features in our evaluation.
Xero at a Glance
This plan is also ideal for freelance accountants and bookkeepers looking for a simple, easy-to-use, and robust platform for their services. Additionally, Xero supports more than 160 currencies that you have the option to automatically convert to your local currency based on up-to-date exchange rates. These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. We encourage you to research and compare multiple accounting software products before choosing one.
- It also has extensive help resources, including a knowledge base, community forum, and video tutorials.
- It also has an outstanding PO system to convert POs into bills, track unpaid bills, record e-payments, and apply vendor credits.
- Finally, keep in mind that like most cloud solutions these days, accounting software is subject to constant input from different industries and international regulations.
- The reimbursement process is made easier with the help of Xero’s powerful data capture feature that automatically extracts information from photos of receipts uploaded to the platform.
It performs bookkeeping functions like invoicing and payroll and allows you to connect the program to a live bank feed. Because it is a cloud-based accounting software product, it lets small-business owners manage their finances from anywhere and integrate with more than 1,000 apps. Xero has a robust list of accounting features that collaborate easily, automate manual tasks & access client records any time with tools to manage your practice.
Pricing plan details and offer terms
We’ve suggested Xero to a few clients and even forced them to switch from their current accounting software because of how much superior it is than its competitors. For most customers, Xero’s direct bank feeds are available at no additional cost. Some UK banks charge fees for bank feeds, that we will pass on to you.
Included in this plan are some of the basic accounting features, such as creating and sending quotes. Sending invoices is also included but limited to a maximum of 20 invoices directly from your mobile device. With the Starter plan, you can also enter up to five bills that you can pay by schedule or by batch. Xero includes extensive features that make it suitable to handle complex accounting processes for small- and medium-sized businesses as well as larger ones. The software makes it easy to pay bills, claim expenses, accept payments, track projects, manage contracts, store files and more.
Xero Review 2024: Features, Pricing & More
Jenny Chang is a senior writer specializing in SaaS and B2B software solutions. She has covered all the major developments in SaaS and B2B software solutions, from the introduction of massive ERPs to small business platforms to help startups on their way to success. At $62 a month, this plan gives you access to Xero’s more premium features. You can easily create online invoices using Xero’s invoicing feature. Invoices can also be converted from the quotes you created for a particular job or project.
Is Xero easier to use than Sage?
We believe everyone should be able to make financial decisions with confidence. FreshBooks charges $17 per month and QuickBooks charges $30 per month). However, the best option and price point will depend on the specific capabilities and features you are looking for. Use Gusto payroll to calculate pay and deductions, pay employees, simplify compliance, and update the Xero accounts.
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Xero beats QuickBooks Online Plus in terms of pricing, as it’s obvious that Xero offers similar accounting software at a lower price point. But if we consider all other competitors, Zoho Books appears to be the most affordable and most flexible option because you choose among its six-tiered pricing plans. With Xero, you have your own accounts payable tools accessible from any device. Xero’s accounts payable feature not only gives you a detailed view of your upcoming bills but also helps you prioritize which bills should be paid first. 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.
Xero Accounting – Starter – Good for sole traders, new businesses, and the self-employed.
However, Sage is more for freelancers, while Xero is better for small businesses. To see how they stack up with other software, check out our list of the best cloud accounting programs. Xero and Sage’s main selling point is their intuitive invoicing systems. Sage lets you create invoices directly from quotes and estimates, send them to customers and automatically track outstanding invoices to see what you’re owed. It also partners with Stripe so you can take card payments with ease. Xero and Sage are two excellent accounting options for small businesses looking to get their finances in order.