
About Xero
Xero is a cloud-based small business accounting software with tools for managing invoicing, bank reconciliation, inventory, purchasing, expenses, bookkeeping and more. Xero is an alternative to QuickBooks. It is a modern, small business accounting software that lives in the cloud. It's accessible from any computer or mobile device, making for a smarter and easier accounting process, with features including cash flow tracking, payment processing, bank reconciliation, expense tracking, inventory management, financial reporting, and more.
The Xero dashboard presents users with a clear and concise overview of their financial situation. It provides small business owners with a greater understanding of their cashflow by highlighting bank balances, outstanding invoices, upcoming bills and expense claims in a visually appealing way. Daily bank and credit card transactions are automatically imported into Xero and matched to their corresponding accounting transaction. Doing bank reconciliation is as easy as confirming the match is corrected and clicking "OK."
Xero integrates with over 1,000 third-party apps commonly used by small businesses including Stripe, PayPal, Capsule, HubSpot, and more in order to streamline workflows and synchronize data such as sales invoices, client data, cashflow reports, payroll data, and more. Data flows directly into the Xero ledger, removing the time and effort required for manual data entry. Every Xero plan comes with unlimited users, so there's no need to pay for extra licenses. Collaborate with colleagues or invite financial advisors to view data remotely and get valuable real-time advice.
Key benefits of Xero
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Reviews
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- Industry: Information Technology & Services
- Company size: 2–10 Employees
- Used Weekly for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support Software
- Likelihood to recommend 10.0 /10
Best in Multi-currency accounting for SMB
Reviewed on 18/02/2021
Xero was the best choice back in 2015 (when no one gave multi-currency) and still is in 2021 (when...
Xero was the best choice back in 2015 (when no one gave multi-currency) and still is in 2021 (when there are some who do).
I have now added another company to Xero and cannot imagine shifting to another platform....ever.
Pros
With most clients abroads, we find its best to bill them in their local currency. Luckily for us, Xero is there to help sort our books out and keep them in order. It integrates with many bank feeds & popular wallets/fintechs like PayPal, Payoneer & TransferWise so accounts are upto date - always.
Another feature we really use is their tracking fields. Xero allows users to setup 2 tracking fields that can be added to invoices, expenses, bills and assigned to each line. This helps us keep track of project based work and has been our way since before Xero ventured into Project based accounting (that users need to pay additional fee for)
It also integrates with online payment gateways such as PayPal, Stripe, GoCardless, and a few others; thus payments are a breeze for clients.
As a non-accountant, Xero is easy to use even when you get into all the features it provides.
Cons
They have made some changes to their UI esp where invoices and expenses are concerned. Luckily for older users, expenses are still free however, for new users it isnt and each person filing expenses on it needs to pay a small fee. I think it should be free for a small number of users (atleast 2) and then charged.
Alternatives Considered
Quickbooks OnlineReasons for Choosing Xero
Freshbooks didnt give Multi-currency and it was causing problems with reportingSwitched From
FreshBooksReasons for Switching to Xero
There was no multi-currency in Quickbooks available. Bank feeds were also not there for some of the banks I wanted. For a similar price point Xero offered better features and a product that was easier to use for a non-accountant.- Industry: Information Technology & Services
- Company size: 51–200 Employees
- Used Daily for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support Software
- Likelihood to recommend 10.0 /10
Xero is the ideal accounting solution for small businesses - easy, comprehensive and integrated...
Reviewed on 24/08/2023
Overall, my experience with Xero has been extremely positive. I found the transition to the...
Overall, my experience with Xero has been extremely positive. I found the transition to the platform smooth and straightforward. The intuitive user interface allowed me to get started with the software quickly without the need for extensive training. I’m now able to easily manage invoices, payments, and track expenses. The integrations with banks and payment apps enabled me to automate financial processes. The reporting and dashboards helped me make better decisions to grow my business. I'm very happy with choosing Xero as my accounting solution, and would recommend any startup to consider it.
Pros
What I liked most about Xero was its user-friendly interface. The dashboard is simple and streamlined, allowing me and my accounting team to use the software smoothly even without extensive accounting background. I also enjoy the mobile access on phones and tablets, enabling me to manage accounting tasks anywhere. Additionally, the seamless integration with other banking and invoicing apps is great. Overall, Xero is easy to use and helpful for handling the day-to-day accounting of my business.
Cons
What I liked least about Xero was the limited custom reporting options. While Xero provides many standard financial reports, the ability to customize reports or create more complex accounting reports is restricted. So sometimes I need to export data to Excel to build custom reports. It also lacks advanced support for inventory or manufacturing accounting. But overall, Xero covers my needs as a small business for now, and I expect the platform will continue improving over time.
- Industry: Health, Wellness & Fitness
- Company size: 2–10 Employees
- Used Weekly for 1+ year
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support Software
- Likelihood to recommend 2.0 /10
Pretty good, but in the end, more complicated than needed for two person practice
Reviewed on 21/01/2021
largely positive, but when they got rid of payroll, given my business of 2 employee/owner s-corp in...
largely positive, but when they got rid of payroll, given my business of 2 employee/owner s-corp in a medical practice, with no retail/inventory, it made things a ton easier to just do my accounting in Excel. It was really the payroll that made this a no brainer for me.
Pros
I loved the usability of this software. It was super easy to set up relatively sophisticated accounting with no accounting background. I thought the bank reconciliation was dynamite, and while they still had it, I loved the payroll. When I would eventually get triaged to tech support, the person was so patient, and so helpful it was really great, and they never seemed to mind spending a long time helping to fix some oddball problems that I'd made. Oh yes, loved it that they did the quarterly tax filings for me, but that also went away with the payroll
Cons
One thing about this accounting software - when you have a question their first response is to tell you to have your accountant look at it. I was using this software as a replacement for an accountant, in order to save money, so that advice didn't help much. When you do a google for help, you run into a problem: Xero seems to be doing accounting software for all the english speaking countries,e.g. new zealand, australia, UK, USA and canada. each of these countries has different business formations/corporations, different taxation rules, etc, as well as meaningfully different accounting vernacular. I would end up mnost of the time getting somewhere only to realize I'd pulled up the UK instructions to solve a problem.
Alternatives Considered
QuickBooks Desktop EnterpriseReasons for Switching to Xero
good recommendation from another provider who had a similar size busness. Was SUPER easy to set up, and the account reconciliation was a godsend.- Industry: Food Production
- Company size: 11–50 Employees
- Used Weekly for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support Software
- Likelihood to recommend 8.0 /10
Xero - A Solid Accounting Package
Reviewed on 30/05/2023
With Xero we wanted an application to simplify and host our bookkeeping and accounting functions in...
With Xero we wanted an application to simplify and host our bookkeeping and accounting functions in an easy but reliable program. A program that had all of the necessary features and functionality for a full enterprise accounting system, o date Xero has met our expectations.
Pros
We have found the implementation and integration of Xero into our business, processes and workflow to be pretty seamless. The standard reporting package is useful and custom queries / analysis is pretty straight forward. We also really like the cloud based access that allows remote access almost anywhere.
Cons
Overall we don't have many Cons, but to make Xero better we'd like to see......Integration with a broader range of transitional apps would be great. Apps that track things like mileage travelled, POS (sales, credits, refunds) activity, pull invoices from regular suppliers / vendors (such as utilities).
- Industry: Financial Services Software
- Company size: 2–10 Employees
- Used Daily for 1+ year
-
Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support Software
- Likelihood to recommend 7.0 /10
Xero
Reviewed on 18/09/2023
Overall we are very pleased with Xero and the application. We probably don't use it to its full...
Overall we are very pleased with Xero and the application. We probably don't use it to its full potential
Pros
Xero is very user friendly and we found it easy to implement the application into our business. The help sections are really useful too. Auto bank connection is good.
Cons
We had some issues with the bank feed in the early stages of implementation but this may have been more to do with the bank rather than Xero. It soon sorted itself out
Alternatives Considered
Sage Business Cloud AccountingReasons for Switching to Xero
cost and ease of implementationXero FAQs
Below are some frequently asked questions for Xero.Q. What type of pricing plans does Xero offer?
Xero offers the following pricing plans:
- Starting from: $12.00/month
- Pricing model: Subscription
- Free Trial: Available
Early: $5.50/month Growing: $16/month Established: $31/month
Q. Who are the typical users of Xero?
Xero has the following typical customers:
Self Employed, 2–10, 11–50, 51–200, 201–500, 501–1,000
Q. What languages does Xero support?
Xero supports the following languages:
English
Q. Does Xero support mobile devices?
Xero supports the following devices:
Android (Mobile), iPhone (Mobile), iPad (Mobile)
Q. What other apps does Xero integrate with?
Xero integrates with the following applications:
Accelo, Actionstep, ActiveCollab, Acuity Scheduling, Administrate Training Management, Adobe Commerce, Agile CRM, ApprovalMax, AroFlo, AutoEntry, Batchbook, BigCommerce, BlueFolder, BookingBug, Buildertrend, Capsule, Chargebee, Chargify, Chaser, Checkfront, Checkmybooks, Chrometa, Cin7 Core, Cin7 Omni, ClicData, Clio, CollabSpot, Constant Contact, Copper, Corecon, CreditorWatch Collect, Current RMS, CustomerSure, Cyfe, Datamolino, Deputy, Dext Prepare, Dryrun, EZRentOut, Ecwid, Emburse Tallie, Entryless, Epos Now, Everhour, Expensify, Exsalerate CRM, FUTRLI, Fathom, Fergus, FieldAware, Financial Driver, Fishbowl, Float, Float Cash Flow, FreshBooks, Freshdesk, GeoOp, Google Workspace, Grow, Handshake, Harvest, Hike, Hotelogix, Hubdoc, Ignition, Insightly, InvoiceSherpa, JobAdder, Kickserv, Klipfolio, Lightspeed POS, LivePlan, MRPeasy, Mailchimp, Manu Online, Microsoft 365, Microsoft Power BI, Mindbody, MinuteDock, MyBuys, Nexonia Expenses, Nobly, OnePageCRM, OneSaas, Onsight, Operations Hub, Panalitix, PandaDoc, PayPal, Payment Evolution, Payoneer, Pepperi, Plooto, Podio, ProWorkflow, ProfitSee, Proposify, QuickBooks Time, QuickBooks eCommerce, Quickbooks Online, Quoter, Quotient, Qvinci, Qwilr, RESULTS.com, Re-Leased, Really Simple Systems CRM, Rydoo, Sage 50cloud Accounting, Sage Business Cloud Accounting, SalesSeek, Sapaad, Satago, ServiceM8, Shoeboxed, Shopify, Simple Salon, Simpro, Solve CRM, Spotlight Reporting, Square Point of Sale, Starshipit, Streamtime, Stripe, SugarCRM, Synchroteam, Synergy, Tabology EPOS, Tidy, Time Tracker, TimeCamp, Timely, Tradify, Trigger, Unleashed, Veeqo, Vend, WORKetc, WooCommerce, Workato, WorkflowMax, XEDI Web EDI, XO Cashflow, ZENOTI, Zahara, Zapier, Zendesk Sell, Zoho Analytics, Zoho Books, Zoho CRM, authorize.net, ezyCollect, ezyVet, vWorkApp, webexpenses
Q. What level of support does Xero offer?
Xero offers the following support options:
Email/Help Desk, FAQs/Forum, Knowledge Base Software, 24/7 (Live rep), Chat
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