Xero Review 2024: Features, Pricing & More

xero online accounting

Keep in mind that these services charge a fee to process payments (usually around 2.9% plus 25 cents per transaction, though this varies by the payment processor). When rating accounting and invoicing software, we use a 47-point rubric that looks at pricing, ease of use, features, customer service, and user reviews. We weigh each section differently to calculate the total star rating.

We spend hours researching and evaluating each accounting software system we review at Merchant Maverick, placing special emphasis on key characteristics to generate our ratings. Xero tries to throw you as many bones as possible by adding a video or help article to the top of every page you open. If you need some extra assistance in finding features or understanding the software, Xero also offers a help center.

Time Tracking

xero online accounting

With your accounting software and data stored in the cloud, you can access your up-to-date accounts anywhere there’s an internet connection. 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. Xero is powerful online accounting software for US small businesses. Manage your cash flow, track expenses, accept payments online, and much more – all without leaving Xero.

Is Xero Right for You or Your Business?

  1. Xero is a great option for large teams and small- to medium-sized businesses that need high-level accounting systems.
  2. The mobile app works with Xero accounting software to help you run your small business from anywhere.
  3. For free invoicing platforms, consider Zoho Invoice, Square Invoices or PayPal Invoicing, although these platforms provide fewer capabilities.
  4. Xero is a robust accounting solution with sophisticated accounting features, ample reports, 1,000+ integrations, and unlimited users.
  5. Zoho, for example, is accounting software with a free invoice platform that allows you to bill in multiple currencies.

Each plan still offers unlimited users and live bank feeds, how important are contingent liabilities in an audit so businesses can download, categorize, and reconcile their transactions as usual. You can import data from another accounting system in bulk via CSV files once you’ve done the initial set up in Xero. That includes the chart of accounts, invoices, bills, contacts and fixed assets. Keep in mind that the ability to use multiple currencies in the software and invoice is limited to the company’s highest tier, at $70 per month. If using multiple currencies is a priority to you, consider other platforms that offer this capability at a lower cost. Zoho, for example, is accounting software with a free invoice platform that allows you to bill in multiple currencies.

Popular features

The software makes it easy to pay bills, claim expenses, accept payments, track projects, manage contracts, store files and more. The other appeal of the software was that each plan came with unlimited users, access to every Xero feature, and payroll. Business owners, freelancers and entrepreneurs often spend a large chunk of time on administration and accounting. Suited for small- what are the advantages of using a flexible budget vs. a static budget and medium-sized businesses (SMBs), Xero is an affordable cloud-based accounting software system that streamlines these processes with plans starting at $13 per month.

Life before Xero was a nightmare. Using a spreadsheet took a ridiculous amount of time.

Security measures include data encryption, two-step authentication, and 24/7 monitoring at multiple locations. Data is backed up daily across various servers, and regular security audits are performed. Xero has never offered phone support and has relied on email support. It may take a day or two to get a response to your email, but there are plenty of other forms of support available. Despite a few shortcomings, we rated Xero 4.7/5 for its customer support. Xero used to offer strong customer support, and while there are still a ton of great support resources available, getting in touch with an actual representative is a lot more difficult.

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