Xero Accounting Review 2024: Pricing, Features, Alternatives

accounting software xero

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Xero is a great option for large teams and small- to medium-sized businesses that need high-level accounting systems. It’s also a good fit if you want to integrate Gusto Payroll to your accounting platform. Set up bank feeds directly from your bank accounts, so that transactions are securely imported into Xero’s accounting system every business day. Once you’re set up in Xero you can import all your data from your previous accounting software, including the chart of accounts, invoices, bills, contacts, and fixed assets. We recommend you work with an accountant or bookkeeper, preferably one with Xero experience, when you move to Xero online accounting software in the US. Xero allows business owners to easily customize their invoices, collect payments from multiple sources, access accounting information on the go, and more.

  1. Once you’re signed in, Xero gives you the option of taking a short guided tour of the dashboard.
  2. Many accounting software for small businesses offer a 30-day free trial; however, Xero’s plans are less expensive than many of its competitors, starting at just $15/month.
  3. While Xero’s plans start at a cheaper price, QuickBooks offers more features across its plans.
  4. If you’re looking for an accountant who specializes in Xero, you can search for an accounting advisor through their website by location and industry.
  5. New users can access a free 30-day trial, which doesn’t require a credit card for sign-up.

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). Once you sign up, Xero provides several guided tutorials to acquaint you with its tools, such as connecting your business bank account, adding customers and creating invoices. Many pages within the app have how-to videos and links to a step-by-step guide, which is great for business owners inventory cycle for manufacturers retailers and distributors who aren’t very tech-savvy.

With Inventory Plus businesses can fulfill up to 1,500 orders per month from multiple sales channels. This plan is designed for sole proprietors or early-stage enterprises and includes 20 invoices and five bills or purchase orders per month. Users can upgrade at any time to the Growing or Established plans for unlimited bills, purchase orders, and invoices.

Xero accounting software pros & cons

Xero doesn’t provide a phone number on its customer support page, but a representative will call you if necessary. This is a serious drawback if you want to be able to pick up the phone and talk through an issue or are new to accounting software and have lots of questions. Xero’s accounting software is highly rated among small businesses.

accounting software xero

Create, edit and send invoices as soon as the job is done directly from the mobile app. Run your small business from anywhere and remain productive in otherwise unproductive moments with the Xero bookkeeping and accounting app for small business. Wave is a solid choice for small businesses looking for free accounting software. As the industry standard, QuickBooks Online is ideal if you have a growing business with specific accounting needs — as long as you don’t mind taking the time to learn the program’s ins and outs.

Life before Xero was a nightmare. Using a spreadsheet took a ridiculous amount of time.

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. 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.

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Get the best experience for you by choosing what you see on the Xero accounting dashboard. Invite your advisor to use Xero, so you can work together on the accounts anytime, anywhere. Accounting online with Xero will protect your data through multiple layers of security, such as encryption.

More about the Xero Accounting app

Read our 2024 Xero review to find out if it’s the right solution for your business. Xero’s online accounting software is designed passive v non passive income to make life easier for small businesses – anywhere, any time. Log in anytime, from anywhere, to send invoices, pay bills, and manage your cash flow.

A bar at the top of the interface contains several drop-down menus that house Xero’s features. Like other major accounting packages, such as QuickBooks, Xero’s feature-packed interface can sometimes feel a bit overwhelming. However, compared to competitors we reviewed, Xero excels at presenting information in an easy-to-understand way. For example, Xero’s cash flow bar chart displays cash going out of the company as a gray line and cash coming in as a blue line. A business owner trying to maintain positive cash flow would look for the blue line to remain above the gray line (see the screenshot below for an example). When testing the software, we found Xero easy to navigate, with an intuitive and user-friendly interface.