With an overall score of 4/5 in this review, Xero is a good solution for mid-to-large-sized businesses in need of strong accounting features and multiple users. Take advantage of Xero’s free trial to see if this accounting solution is right for you. If you’re still on the fence, check out our picks for the best small business accounting software to compare your options. Xero offers the option to add full service payroll support from Gusto to any plan. This Gusto-Zero integration starts at $40 per month plus $6 per employee. 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 2024.
Accounting software to do your to-do
After a 30-day trial period, Xero will bill a monthly charge of $13 per month for the Early plan, $37 per month for the Growing plan and $70 per month for the Established plan. For free invoicing platforms, consider Zoho Invoice, Square Invoices or PayPal Invoicing, although these platforms provide fewer capabilities. 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. Get to know your finances with accurate, daily figures when you’re accounting online with Xero. Use Xero to work with your employees, bookkeeper, or accountant online, even if you’re on opposite sides of the world. Invite your advisor to work with you on the online accounts anywhere, anytime.
Best Free Accounting Software for Small Businesses of 2024
However, we are disappointed that Xero lacks tax support, doesn’t have more advanced inventory, and doesn’t have more invoice templates. The other appeal of the software was that each plan came markup pricing definition advantages disadvantages formula & overview with unlimited users, access to every Xero feature, and payroll. Unlimited users and advanced features make this cloud accounting software platform a good fit for many small businesses.
More about the Xero Accounting app
Information is gathered on a regular basis and reviewed by our editorial team for consistency and accuracy. Includes project tracking tools in most expensive plan; has transaction tracking tags; lacks industry-specific reports; users the circular flow of income and expenditure with multiple businesses must pay for separate subscriptions. 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.
- View the money coming in and out of your small business from the accounting app dashboard.
- If you need only 1 person to use the software but plan to send a high number of invoices and bills, QuickBooks may be a more cost-effective choice than Xero.
- If using multiple currencies is a priority to you, consider other platforms that offer this capability at a lower cost.
- Xero has been known for offering discounts in the past, so be sure to check the company’s website to see if it’s having a sale.
Because Xero doesn’t charge more as you add users to your plan, it offers a cost-effective way to provide employees access to real-time financials. Furthermore, you can scale it up as your company grows; Xero integrates with over 1,000 third-party apps for payroll, time-tracking, and more. Due to its scalability and cost-effectiveness, Xero is a great choice for growing businesses. Because it supports unlimited users, it facilitates employee collaboration and allows them to quickly submit expenses and send invoices. Xero also grows with your company, integrating with your email, customer relationship management (CRM), or point-of-sale platforms to help streamline operations even further. Has robust reporting tools and report customization options, basic inventory tracking in all plans and a capable mobile app; Early plan limits the number of invoices and bills.
Products for accountants and bookkeepers
When reconciling books, Xero suggests likely matches between bank statement lines and transactions entered in the software. 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. Payments are due by the end of your monthly billing period based on the date you purchased your subscription.
QuickBooks Online is limited to 25 users on its most expensive plan but is easier to use, offers tax support, and has stronger mobile apps. These reports help small business owners identify areas for improvement and make evidence-based decisions in real time. Xero doesn’t offer as many pre-built reports compared to Xero alternatives such as QuickBooks. Xero is a cloud-based accounting software product that’s easy to use and integrates with more than 1,000 apps.
Sync Xero with software you already love or easily find and try new apps designed to save your business time and money at the Xero App Store. Xero may be harder to learn than a simpler invoicing platform like Square Invoices or Zoho financial accounting standards board Invoice. However, it’s generally considered easier than QuickBooks Online. All pricing plans cover the accounting essentials, with room to grow. Get access to all of Xero including add-ons like Xero Projects and Xero Expenses.
Plus, Xero supports unlimited users at no additional cost — a rarity in the accounting software world. FreshBooks is another one of our favorites for small businesses — especially freelancers. It has unlimited customizable invoices, a client portal, built-in project and time tracking and a highly rated mobile app.
Small businesses, accountants and bookkeepers locally and across the world trust Xero with their numbers. Easily create and send invoices and automate invoice reminders for a quicker, hassle free payment. See all your invoices, contacts, balances, financial information and accounts online. Includes audit trails and easy accountant access; has millions of users so your accountant will likely be familiar with it.
To get the most out of your software, Xero has over 800 integrations to choose from. If this isn’t enough, Xero also integrates with Zapier, connecting the software to hundreds of additional add-ons. Some Xero integrations are country-specific, so make sure they are compatible before you make any additions or purchases. To review this software, I signed up for a free trial of the Xero Established plan. I also reviewed official product documentation, watched demo videos, consulted user reviews and cross-referenced software reviews in industry publications.
The first two plan tiers put a limit on billable clients, but not on invoices. Has robust reporting tools and report customization options, invoicing for an unlimited amount of clients, inventory tracking in higher tier plans, plus a capable mobile app. Xero and QuickBooks Online have a lot of similarities, as both have strong features and numerous integrations. However, Xero is more affordable and supports unlimited users.