Compare pricing and features for FreshBooks, NetSuite, QuickBooks Online, Odoo, Xero, and Sage Intacct. Zoho Books is an accounting software that is a popular alternative to QuickBooks, offering easy-to-use features. Despite some criticism I have about Xero, I feel they are a strong billing and invoicing software. The customization capabilities is probably the best out of all online accounting software. It’s best to judge accounting software based on what you need it to do, rather than what it can be capable of doing. Whether you’re a freelancer or a growing company, Xero offers a comprehensive solution for managing your finances and staying on top of your business’s financial health.

Customer Service & Support

• This page felt very dated—it looked totally different than Xero’s other pages.
• After some digging, I found that Xero doesn’t offer the typical discounted, annual subscription—the company charges on a monthly basis only.
• Xero is a global online accounting system for small businesses and their advisors.
• Companies on Trustpilot aren’t allowed to offer incentives or pay to hide reviews.
• This means you can send and receive payments in multiple currencies and track your financial performance without worrying about complicated exchange rate calculations.

One of the primary drivers behind the popularity of small business accounting software is its ability to streamline complex financial tasks. Traditionally, small business owners grappled with intricate spreadsheets and manual calculations, leading to errors and inefficiencies. Accounting software automates these processes, reducing the likelihood of errors and saving everyone’s time. This efficiency boost is particularly crucial for small businesses, where every minute counts towards keeping and growing the business. That’s why at Tech.co, we have full-time product researchers to re-run this testing process regularly. It’s the only way to ensure our results remain reflective of the present day.

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We use dedicated people and clever technology to safeguard our platform. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. We just love reading reviews like yours, thank you for taking the time to let us know. Companies on Trustpilot aren’t allowed to offer incentives or pay to hide reviews. The platform looks outdated, with a very rudimentary interface and site mapping that isn’t totally logical. In this section, I’ll take you through some of Xero’s standout features, as well as areas where it falls short.

• More importantly, Xero offers developer API support, including documentation and community discussion.
• By integrating payroll and HR systems into Xero, businesses can improve the accuracy and efficiency of their payroll management, while also ensuring compliance with tax regulations.
• Overall, Xero has a set of features that easily rival competitors like QuickBooks Online.
• Given that there are several invoicing software on the market, it’s worth putting in some time to research your options before choosing one for your business.
• These reports are essential for tracking business performance, ensuring compliance, and identifying areas for improvement.
• In addition to handling multi-currency transactions, Xero allows users to manage their accounts in different currencies.

The general ledger contains the organization’s accounts for recording assets, liabilities, revenue, and expenses.

Xero comes with a steep learning curve that can be daunting for first-time users and the less tech-savvy. It also has limited customization options and may present some glitches when using bank feeds, such as when transactions drop out with no notice to the file owner or bookkeeper. And when issues like these arise, support can be quite limited and untimely, which is frustrating especially when something needs immediate resolution. Xero is a powerful online accounting program that competes directly with QuickBooks and other full-service options. Though it’s more expensive than Wave, Kashoo, and other competitors, it’s far better suited for larger operations. That said, it lacks a free version, has limited functionality in the lowest-price version, and can’t compete with QuickBooks in the payroll department.

Do I need accounting software for my small business?

Our personal favorite is Zoho Books, which scored very highly in our latest round of testing, owing to its exceptional core accounting features, usability, and planning tools. Xero does a fine job of mixing an enjoyable and modern-looking user interface with a huge collection of accounting features and functions. With a regularly updated appearance, and new features being added all the time even during the coronavirus pandemic, Xero continues to expand its popular appeal and now enjoys a healthy following.

Xero simplifies this by helping you log time, track expenses, and create detailed invoices for clients. Plus, when you’re managing client retainers or recurring payments, Xero handles the heavy lifting by automating it all. Xero’s multi-currency support ensures payments are smooth and hassle-free. It helps you focus on delivering results rather than managing the numbers. Whether you’re traveling for work or just prefer managing your business from your phone, Xero’s mobile app is super functional. You can send invoices, approve transactions, and even reconcile your bank accounts from your smartphone or tablet.

Speaking of cash, the Cash Summary shows exactly how money is moving in and out of your business. Tracking your expenses doesn’t have to involve a pile of crumpled receipts. Xero’s mobile app allows you to take photos of receipts and match them to your expenses instantly.

Tax Support

Assistance is primarily via email, but representatives are willing to call if the issue demands it. What’s more, Xero also has no user limit on any of its plans, which is a really handy touch. By contrast, the likes of FreshBooks limits you to one user per plan, with the option to pay for additional members. For a full breakdown of how these two platforms compare, make sure to check out our guide to Xero vs Freshbooks. If you’re on the fence, they offer a 30-day free trial with no credit card required.

You can easily add new products, track sales, and generate purchase orders to restock your inventory. This makes it simple to maintain an efficient inventory system and ensures that you’re never caught off guard by running out of stock. Affordable online accounting software with efficiency-enhancing features and easy invoicing. Keep in mind that the ability to use multiple currencies in the software and invoice is limited to the company’s highest tier, at $80 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.

Finally, you enjoy local training courses and webinars meant for Xero users wherever they are. The company has offices in the US, UK, Australia and New Zealand and can be reached through its website and email. If you’re looking for free accounting software, we’d recommend looking into Wave Financial, which is a comprehensive solution with unlimited estimates, invoices, bills, income tracking, and users. QuickBooks has the next highest total, with over 750, while all the other platforms we tested had far fewer than 100 ready-made integrations, showing Xero’s xero review excellence in this area.

New hires and appointments

With its outdated interface, it is geared towards experienced accounting pros. There are three paid plans available, starting at $20 per month and going up to $80 per month. Expense management – With the expense management functionality, users can take a photo of a receipt from their phone and upload it to Xero. They can grant viewing/submitting/approving expense access to specific employees.