Xero Review 2024: Features, Pricing & More

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. There are no annual contracts, so you can cancel your subscription at any time (although you must give a 30-day notice of your cancellation). Includes project tracking tools in most expensive plan; has transaction tracking tags; lacks industry-specific reports; users with multiple businesses must pay for separate subscriptions. All three plans come with an optional add-on for payroll with Gusto for $40 per month plus $6 per month per person. Xero’s cloud accounting software has features and tools to help you run your small business, so you can spend more time doing what you love.

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. 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. While Xero’s plans start at a cheaper price, QuickBooks offers more features across its plans.

Tax Support

You can receive automated bank feeds into your accounting software and connect to other business apps for greater efficiency. You can also collaborate with other people, like accountants and bookkeepers, by giving them access to view and share your figures. Xero regularly backs up your data and protects it with multiple layers of security. 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.

Explore Xero accounting software and its tools for small businesses, accountants, and bookkeepers. Today’s leading accounting platforms offer standard security features like data encryption, secure credential tokenization and more. While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe.

1. The software makes it easy to pay bills, claim expenses, accept payments, track projects, manage contracts, store files and more.
2. 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.
3. Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews.
4. Use the demo company to explore Xero’s features, or enter your own business details and data to try it out for real.

Inventory apps

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. You can also scroll through Xero’s default chart of accounts and customize it as needed, or import an already existing chart of accounts. If you have a list of customers and suppliers, you can import that, too. 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.

Best Free Accounting Software of 2024

Users that are new to bookkeeping won’t be overwhelmed by Xero’s simple and easy-to-navigate layout. This layout makes the reconciliation process, among other accounting tasks, particularly easy. The software shows you potential transaction matches side by side, so you can immediately see if the match is accurate without having to click anything. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you what are special item numbers sins take certain actions on our website or click to take an action on their website. Here is a list of our partners and here’s how we make money. Xero’s new plans give you all the tools you need to control your business finances like a pro.

However, Xero is the better choice if you want more advanced features and support for unlimited users, as additional users are only available for a fee if you use FreshBooks. NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business. The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. Learn more about how we rate small-business accounting software.