With Xero, you can add an unlimited number of users to your account at each subscription level. This is a notable feature for accounting software; often, lower-tier plans allow fewer users while only higher-tier plans allow unlimited users. The Early plan costs $20 per month and lets users send up to 20 invoices and schedule up to 5 bills per month. Other features include reconciling bank transactions and capturing bills and receipts with Hubdoc. Unlike many other accounting applications, Xero does not base its pricing on the number contribution margin of individuals who need access. In our view, this is one of Xero’s key differentiating factors, making it a great choice for growing businesses that are rapidly adding new employees.
Verdict: Full-Featured Accounting
Each plan still offers unlimited users and live bank feeds, so businesses can download, categorize, and reconcile their transactions as usual. The other appeal Accounting for Churches of the software was that each plan came with unlimited users, access to every Xero feature, and payroll. We also found that it’s impossible to combine multiple checks along with cash into a single deposit entry. Xero does provide an account to hold undeposited checks, but the feature doesn’t track when checks are removed and deposited and doesn’t allow cash to be added to the deposit. 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.
Xero Review ( : Pricing, Features, Pros and Cons
Yes, both Xero and QuickBooks have mobile apps for iOS and Android, allowing on-the-go access. Xero’s seamless integration capabilities improve its functionality by connecting with a wide variety of third-party applications. These include Customer Relationship Management (CRM), e-commerce platforms, time tracking, and Inventory Management. For UK accountants and bookkeepers, you can now use Xero Tax to prepare and file partnership tax returns with HMRC. This means you can manage the vast majority of compliance tasks and all in one place. It will help you save time and money, as well as provide a better service to your clients.
Inventory
Xero’s commitment to anywhere access exemplifies a new era of agile, on-the-go financial management. Xero’s smooth integration with other software is a standout feature to enhance its functionality and user experience (UX). It can connect seamlessly with various third-party applications and systems, such as CRM tools, e-commerce platforms, and payment processors. This integration capability allows users to automate data syncing across various business functions. Xero simplifies bill payments by allowing users to schedule and make payments efficiently directly through the platform.
- Successful accounting and payroll involve managing relationships with both external contacts and internal team members.
- Dig into details on features, integrations, implementation services, and pricing models across your shortlist.
- 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.
- Track and manage expenses with tools to capture receipts and create claims easily.
- Information is gathered on a regular basis and reviewed by our editorial team for consistency and accuracy.
- In the A/R management portion, we evaluated major aspects like invoice creation, inventory adjustments, and customer payments.
The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. FreshBooks offers unlimited time-tracking in its lowest-tier Lite plan, whereas Xero users would have to opt into the highest-tier Established plan for that feature. In the Early plan, the least expensive subscription, you can send up to 20 invoices and schedule up to five bill payments only. For unlimited invoicing and bill-paying capacity, you’ll need to upgrade to the Growing plan. For example, you can give all employees the ability to send quotes and invoices, allow some to enter expenses and limit who can see the company’s complete financial picture. To keep things organized, Xero logs every action users make and compiles the history of every transaction.
- Businesses can set up user roles with permission levels, like Limited, Standard, or Administrator access.
- To set up Xero, you will need your business details (name, address, industry), tax information (VAT or GST registration number), and financial details (bank account information for linking).
- If this isn’t enough, Xero also integrates with Zapier, connecting the software to hundreds of additional add-ons.
- The Established plan costs $80 per month and includes unlimited numbers of invoices and bills.
- We really liked Xero’s unique History & Notes feature, which presents an activity report at the bottom of every transaction screen.
This is beneficial to small businesses that need multiple people to be able to log into the accounting software and don’t want to pay extra or upgrade to get more seats. This reduced functionality is to be expected with most mobile accounting apps, including FreshBooks’ and QuickBooks’ mobile apps. 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.
However, they were not as comprehensive xero features as what we found in our review of QuickBooks Online. Phone support is not available immediately; you must contact customer service first via email or live chat. However, the upside is that Xero does not leave users hanging with long wait times.
Honest, Objective, Lab-Tested Reviews
I really love how the reports don’t just show a static list of numbers—they can be directly interacted with and customized. You can customize the time frame for the report, choosing options like “This month,” “Last month,” “This quarter,” and more—or input a fully custom date range. Once you have the report to your liking, you can save it with a custom name for easy future use. That said, Xero encrypts all client data, both when it’s stored and as it’s being transferred. Xero automatically chooses the category for you, depending on whether you send the contact an invoice (customer) or pay them a bill (supplier), which I think is neat.