There are three monthly plans so you can start small and scale up to a more robust plan as your business grows. All online accounting software has a learning curve, including Xero. However, the vendor has an extensive knowledge base with many resources, including videos, help articles, and guides. After signing up for a free trial, you’ll be taken to a step-by-step onboarding process; you can also explore a demo company.
- This review will detail the features, pricing, plans, and even how to do payroll in QuickBooks.
- We liked that Xero makes it easy to manage your projects and make them more profitable.
- If using multiple currencies is a priority to you, consider other platforms that offer this capability at a lower cost.
- 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.
- There are lots of ways to not only be there for your staff in times of crisis, but create a…
Once you connect your bank or credit card account with Xero, you’ll be able to categorize your expenses, split transactions, and more. Xero smart categorization remembers the past transaction categories you used and automatically categorizes new transactions for you. In the end, Xero is a good solution for mid-to-large-sized businesses in need of strong accounting features and multiple users.
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And while FreshBooks is great for freelancers and small businesses, Xero is appropriate for businesses of any size, so you won’t outgrow it. Xero is cloud-based, so you don’t need to download or install programs. Once you’re set up and are familiar with the dashboard, the functions are fairly intuitive to navigate.
Their security measures include industry-standard data encryption, two-step authentication, and 24/7 monitoring at multiple locations. The platform is also praised for its stability, with 99.97% uptime. There’s an iOS and Android mobile app that’s a mobile version of the website. The other two apps are Xero Projects and Xero Expenses that support work in the field. In other words, you’re good to go whether you’re using an iPhone or a Microsoft Surface Duo. Quotes, which you may know as Estimates, can easily be created in Xero.
Is there a Xero payroll?
We researched and analyzed dozens of the best accounting and invoicing software solutions to help small businesses choose the ideal accounting software for their needs. Our information sources included the company’s website and software demos. Additionally, we studied user reviews for independent opinions on the software’s pros and cons.
Is Xero difficult to learn?
Information was correct at the time of publication but may have changed since. With four plans to choose from, Xero has different tiers suited to different business types, including sole traders, advantages of flexible budget growing small businesses, established companies and larger organisations. Some of the links that appear on the website are from software companies from which CRM.org receives compensation.
What is Xero used for?
Many of the more advanced features are reserved for the most expensive plan. Xero’s best features, such as the expense management and multi-currency support feature, are only available if you opt for the Established plan. The cheapest monthly plan also has a limit on how many invoices you can send and bills you can create. It lets you add basic contact information, as well as discounts and sales tax rates for customers. You can even create groups, which are lists of contacts to target particular groups of contacts. For example, you can create a list of loyal customers or customers in a specific state to offer promotional deals or send invoices in bulk.
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. If your business lacks a professional accountant to take care of these elements, you should try Xero software. Anyway, if this Xero accounting review is not enough for you, check the 30-days trial and test the tool yourself.
The software has over 2,000,000 users and is the primary accounting solution for over 16,000 accounting firms. The company has recently added a project management feature, which was one of the most significant drawbacks previously. Unlimited users and advanced features make this cloud accounting software platform a good fit for many small businesses. Xero connects to your bank and credit card accounts and imports data daily, so we really appreciate that it protects your sensitive business data with bank-grade encryption.
Once you create a project, you can populate it with tasks and expenses. You can add as many tasks as you want if it’s relevant to the project. If you expect any expenses to occur during a project, you can add an expense. When you’re done adding tasks and estimated expenses, you can send a quote to the customer.
Many of Xero’s recent integrations also allow for easier and more efficient bill pay by syncing accounts payable and receivable data with the accounting software. Xero is robust, cloud-based software with strong accounting, ample integrations, and some great features. It offers tons of automations to save your business time, such as automatic sales tax lookup, group invoicing, and default email templates. The new sales overview and bills overview pages are a nice addition. Due to its scalability and cost-effectiveness, Xero is a great choice for growing businesses.
Recap: Is Xero Good Accounting Software?
Speaking of profitability, we were especially impressed with Xero’s project profitability tracking tool. You can easily view your project’s profit, cost and invoice amounts, with clear graphics and numbers to simplify your understanding. You’ll also see the value of your time, tasks and expenses, as well as your time recorded and your profit margin.
