Xero Accounting for business on the App Store
The software’s bill management tools are detailed, giving you the ability to access all of your bills online in one place, make batch payments and schedule them in advance. In contrast, FreshBooks includes basic accounts payable tools like bill tracking with the Premium plan and doesn’t offer them with the Lite or Plus plans. While Xero has a lot going for it, pricing increases, a lack of built-in payroll, and limited features on its least expensive plans are potential issues. Additionally, customer support has gone downhill since our last review. Still, despite the price ruling out the software for some small businesses, Xero has a lot to offer for medium and large businesses or those in need of multiple users. And we’ve hit on Xero’s unlimited users before, but it’s worth mentioning again.
Ease of sharing with accountants
FreshBooks charges $17 per month and QuickBooks charges $30 per month). However, the best option and price point will depend on the specific capabilities and features you are looking for. †Invoice limits for the Early plan apply to both approving and sending invoices. Transactions initiated by app partners may automatically contribute to your invoice limit. Hubdoc is included in Xero Early, Growing and Established plans as long as it’s connected to your Xero subscription. Your use of the Xero services is subject to the Xero Terms of Use and your use of the Hubdoc services is subject to the Hubdoc Terms of Use.
Contact Management
If you can’t justify paying for QuickBooks Online or Xero or they have too many features your business doesn’t need, Wave might be an ideal alternative. It has comparable invoicing features, but lacks an audit trail and doesn’t integrate with third-party apps. For instance, if you need multiple users, choose Xero—each Xero plan includes unlimited users, while QuickBooks’ Simple Start plan includes only one user. Even QuickBooks’ most expensive plan, QuickBooks Online Advanced ($180 per month), allows for only 25 users. The Growing plan is where Xero really starts to pay for itself.
Online business ideas
We especially like that this feature is free, although some stand-alone time-tracking apps include additional functionality. Xero is a cloud-based accounting software product that’s easy to use and integrates with more than 1,000 apps. Xero offers pricing plans to suit businesses of different sizes and stages. In addition, Xero accounting and bookkeeping partners can offer bare-bones plans for businesses that need only the basics. We’re upfront about pricing, and provide full details of our pricing plans and optional extras.
- Send up to 20 invoices and quotes each month with accounting software for freelancers, contractors, sole proprietors and the self-employed on the Xero Growing plan.
- One cool new Xero feature is its beefed-up Inventory Plus management system.
- Xero offers accounts payable features with all plans — although you can enter only five bills per month with the Early plan.
- 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.
- Xero doesn’t offer the opportunity to call a representative directly for assistance.
- The Xero Accounting mobile app works in tandem with the Xero accounting software so you can run your small business online from anywhere.
If, therefore, you want to see how your retail store’s accounting would be affected by a large transaction, for example, the Demo Company feature allows you to do so. FreshBooks offers unlimited time-tracking in its lowest-tier Lite what does accounting basis points mean chron com 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.
Support when you need it
Customers say that they love how easy it is to use the software, and the dashboard feature that provides a snapshot of all your business stats in one place is a big draw. Customers praise Xero’s speedy customer service; however, some customers say that it would be nice if Xero offered a phone number for quick answers to common questions. Xero’s inventory feature helps business owners track and report on the quality and value of existing stock. All of Xero’s plans come with a data capture and online file storage feature, making it easy to store information from receipts and scanned documents. The Organization menu option enables users to access settings and files or add new organizations.
This is because Xero allows you to see how much each project is costing you in real time and compare that to your estimated profits. Xero is also a better option for businesses that are expanding internationally as it offers multicurrency support. However, you do have to sign up for a free trial or pay for a plan in order to contact Xero. While Xero does provide email addresses for media contacts and mailing addresses for its physical offices, it doesn’t have a phone number or email address for potential customers. Xero customers can get 24/7 online support via Xero Central, Xero’s learning and support hub.
All pricing plans cover the accounting essentials, with room to grow. Online accounting software can make running every type of business so much easier. Data is protected and stored in one place so it’s easy to see how business is tracking with analytics and collaborate with your accountant. Easily sync your bank with your financials in Xero online accounting. See all your invoices, contacts, balances, financial information and accounts online.
Overall, Xero is an efficient and cost-effective way for small businesses to manage finances. The dashboard is where you can get a snapshot of your accounting information all in one place. Users can access their bank balances, invoices, bills, and more with just a few clicks. Also included in the Ultimate plan is Xero Analytics Plus, a set of tools to help small businesses gain a deeper understanding of how their business may be performing, and plan ahead. For small businesses wanting in-depth insights and advanced cash flow forecasting, Analytics Plus provides a greater overview of cash flow and financial performance.
Xero is our pick for the best accounting software for growing companies. Because its pricing plans are not based on employee numbers, Xero can easily accommodate various development stages and the changing small business accounting needs accompanying business growth. We recommend Xero for companies that are rapidly adding employees and don’t want to worry about the number of people stockholders equity at the organization using the product. Xero wins out over the competition as far as price, scalability, and integrations go. However, other accounting software such as QuickBooks Online and FreshBooks provide a phone number for customer support. The only way to contact Xero with questions is to sign up for a free trial or purchase a plan, and then submit queries online.
We researched and analyzed dozens of the best accounting and invoicing software solutions to help small businesses choose the right 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.
Information is gathered on a regular basis and reviewed by our editorial team for consistency and accuracy. 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. Our partners cannot pay us to guarantee favorable reviews of their products or services.
Once you’ve exported your document into Google Sheets, you can edit, save or share it. You can also invite other people to view these documents in Google, as read-only files, even if they don’t have a Gmail account. This function is perfect if you need to complete accounting tasks or other work outside of Xero. It also can assist with your business’ collaboration — especially with anyone who doesn’t have access to your Xero account. Zoho Books’ paid plans all come with free live chat and phone support. 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.
Xero used to have a stand-alone payroll product, but the company has since rolled it back. Now, Xero advertises payroll with Gusto, one of our favorite vat and reverse vat calculator full-service payroll providers. Gusto plans start at $39 a month (plus an additional $6 a month per payee) and include automatic payroll tax filing.
The software helps users to keep track of their finances, customers and vendors. 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. 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.