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Xero

Online Accounting Software
20 reviews

Who is Xero For?

Xero's target users are small businesses and their accountant/ bookkeeper. The online accounting app meets the needs of small businesses across multiple industries.

The software is ideal for small business owners managing their accounts independently, as well as in collaboration with their accountants from dispersed locations. The collaboration features of the software also make it suitable for business owners and their clients on financial activity.

Xero's cloud application currently serves the accounting needs of some 370,000 companies worldwide and copious individual users . The customer feedback and reviews found on the web about Xero are positively overwhelming.

Read the full GetApp Analysis

Overview

Accounting doesn’t have to be excruciating. In fact, it can be fun! Just see for yourself with Xero. Xero is the alternative to QuickBooks. It’s modern, small business accounting software that lives in the cloud. It’s accessible from any computer or mobile device, making for a smarter, easier and all-around more enjoyable accounting process.

Discover why over 300,000 customers worldwide choose Xero to handle their small business accounting needs.


Specifications

Intended Users
Freelancers, Non Profits, Small Business
Devices Supported
Android, iPhone-iPad, Linux, Mac, Open-source, RIM-BlackBerry, Web-based, Windows, Windows Phone
Supported Countries
Asia, Australia, Canada, China, Europe, India, Latin America, Middle-East and Africa, United Kingdom, United States
Supported Languages
English
Supported Platforms
Google Apps, Microsoft Dynamics, Open API, Salesforce

Pricing

Starting from: $9.00/month
Pricing model: Subscription
Free Trial: Available (No Credit Card required)

Available plans cost $9/month, $30/month, $70/month (USD). No setup or upgrade fees or contracts.


Competitors Pricing

MYOB

Starting from: $29.00/month
Pricing model: One-time Licence, Subscription
Free Trial: Available (No Credit Card required)

Sage 50 Canada

Starting from: $229.99
Pricing model: One-time Licence
Free Trial: Available (No Credit Card required)

FreeAgent

Starting from: £19.00/month
Pricing model: Subscription
Free Trial: Available (No Credit Card required)

QuickBooks Online
  • · Create & manage invoices
  • · Track sales & expenses
  • · Multi-device document sharing
  • · Print checks
Visit WebsiteCompare with Xero
QuickBooks OnlineFinance & Accounting
FinancialForce Accounting
  • · Role and user based dashboards
  • · 1-click invoicing from Salesforce
  • · Flexible chart of accounts and multi-dimensional analysis
  • · Multicompany, multicurrency, global tax, multicultural
Visit WebsiteCompare with Xero
FinancialForce AccountingFinance & Accounting
FreshBooks
  • · Online Invoicing
  • · Time Tracking
  • · Recurring Invoices & Auto Payment
  • · Team Timesheets
Visit WebsiteCompare with Xero
FreshBooksFinance & Accounting

Overview

Beautiful design
The Xero dashboard presents users with a clear and concise overview of their financial situation. It provides small business owners with a greater understanding of their cashflow by highlighting bank balances, outstanding invoices, upcoming bills and expense claims in a visually appealing way.

Connects with 350+ business apps
Xero integrates with a variety of third-party apps commonly used by small businesses. Data flows directly into the Xero ledger, removing the time and effort required for manual data entry.

Simple bank reconciliation
Daily bank and credit card transactions are automatically imported into Xero and matched to their corresponding accounting transaction. Doing bank reconciliation is as easy as confirming the match is corrected and clicking “OK.”

Free unlimited users
Every Xero plan comes with unlimited users. No need to pay for extra licenses. Collaborate with your colleagues or invite your financial advisor to view data remotely and get valuable real-time advice!

Seamless, automatic updates
New features are added frequently based on feedback from our customers. Automatic updates occur every 3–6 weeks in the cloud, not on your desktop.

Unlimited email support
Xero provides unlimited, around-the-clock email support from an experienced and knowledgeable staff.

Convert from QuickBooks and Sage
Do you feel handcuffed to the accounting software you were told was the only option? Xero will convert your QuickBooks and Sage data for free when you sign up for a new account.



Key Features

  • Online Accounting - Access Xero anytime, anywhere
  • Bank Rec - Automatically import and code transactions
  • Invoicing - Create and send invoices automatically
  • Add-ons - Pick from a wide range of powerful add-ons
  • Dashboard - Instantly see your bank balances, sales & bills
  • Files - Attach documents to your financial data
  • Smart Lists - Segment contacts based on purchase history
  • Contacts - Keep track of customers and suppliers
  • Login from anywhere
  • Payroll
  • Multi-currency
  • Purchase orders
  • Expense claims
  • Inventory
  • Quick & easy 1099s
  • Mobile apps (iPhone,iPad, Android)
  • Receive bills electronically
  • Free, Unlimited Email Support
  • Multi-currency
  • Financial Reporting

Benefits

Xero has many benefits that will help you:

* Keep your accounting data safe & secure

* Access your accounts online anytime from anywhere, even on the go using your mobile (iPhone/iPad/Android) or tablet

* Get better visibility of your cashflow with real-time data

* Greatly reduce the time you have to spend to keep your accounts up to date

* Beautiful design makes it fun and easy to use

* Software updates are free and available when you log in

* Collaborate with your team and your accountant. You decide what each person can see.

* February 2015: Now offering payroll for the UK

* March 2015: New version of Xero for iOS that provides custom layouts for iPad.

“#Xero is the best thing that ever happened to my business. Who knew book-keeping could be fun?!” - @CareerSpa_Wanda via Twitter.

“In case I haven't said it enough already, I LOVE @Xero. 2 quarters done in just over an hour vs 6+ hrs on old system.” - @ICT_GURU via Twitter.
MYOB
  • · Accounting, GST and BAS
  • · Payroll management
  • · Manage customers and suppliers
  • · Inventory management
Visit WebsiteCompare with Xero
MYOBFinance & Accounting
FreeAgent
  • · Send estimates and proposals
  • · Beautiful Invoice templates, Recurring Invoices
  • · Automatic Bank feeds
  • · Profit and Loss statements
Learn MoreCompare with Xero
FreeAgentFinance & Accounting
Sage 50 Canada
  • · Get paid faster and pay bills
  • · Optimize inventory levels and productivity to control costs
  • · Efficiently track customers and suppliers
  • · Work with unlimited currencies
Learn MoreCompare with Xero
Sage 50 CanadaFinance & Accounting

GetApp Analysis


Xero is an online accounting software suite that utilizes a modern cloud network to fully accommodate the complete range of accounting needs. The app allows you to coordinate and manage all financial processes within an easy to use platform, accessible from all internet-enabled devices.

The software is geared towards small to medium-sized businesses looking to increase their accounting efficiency while at the same time adding a little fun to the process. The app also serves as a remote collaboration and advisory platform for accounting professionals, eliminating the need for client visits and unnecessary paperwork.

The user-friendly dashboard transforms the resource draining and time-consuming tasks of transaction monitoring, bill paying, invoice issuing, purchase order creation and expenses management - to name a few - into enjoyable activities that support accountants in their daily tasks and free-up business owners to get more out of their limited time. Xero also provides payroll management for users, customers or businesses in the US and Australia.

Xero's Accounts Tab.

What is Xero?


Xero's main purpose is to transform the accounting processes into a more efficient and enjoyable experience for small business owners and their accountants. The app succeeds in doing this by allowing all team members concerned in financial operations to connect to the company's financial database via their desktop computers, laptops and mobile devices. This enables all stakeholders and the company accountant to track, collaborate on, and complete accounting tasks from home or on the go.

The benefits of using Xero to manage your accounting activity are evident in the enhanced accessibility of financial data, the collaboration opportunities, the transparent pricing and processes, and the unburdening of time and human resources.

Using Xero, small businesses who previously relied on spreadsheets, messy paperwork and dispersed files to manage their balance sheets, can rest in the knowledge that their financial data is more accurate and up-to-date than ever.

Getting an overview of the balance sheet.

Main Features


Bank Reconciliation

All financial transactions are automatically imported into the Xero database and linked to the corresponding accounting transactions. All the user has to do in order to confirm that the match is correct, is to press the "OK" button and the transaction will be reconciled in the system. Users who need to import feeds from more bank accounts, credit cards and PayPal accounts, will be happy to know that Xero can do this in a few minutes.

Xero also lets you reconcile more complex transactions, such as split payments, by defining your own custom rules. Furthermore, this feature includes fast cash coding, providing the ability to import and automatically reconcile pre-coded bank statements. This is the perfect tool for reconciling large numbers of transactions and for importing data from other systems.

Bank Reconciliation in Xero

Dashboard

The Xero dashboard is where business owners can get a complete picture of their key accounts, income and expense reports, upcoming bills and pending invoices. This feature provides a valuable overview that gives users a clear understand of all their company's financial activities in a glance. Moreover, certain accounts can be watch-listed and monitored in greater detail by enabling notifications.

The layout of the dashboard makes it easy to use and navigate, while the intuitive graphs provide a visual understanding of key data that helps users compare account activity in a more tangible way. The dashboard not only displays data, it also allows you to perform tasks such as adding accounts, bills and issuing invoices by clicking on the corresponding buttons.

Main Xero dashboard showing a financial overview.

Invoicing

Xero's invoicing system forms an important part of the accounting suite letting you generate and customize professionally branded invoices. The customization options include the addition of your company's logo, foreign currency conversion, and the ability to save different templates to be used for separate clients.

The online invoicing system can issue invoices for payments that come from PayPal accounts, bank transfers or credit cards, with no country-related exceptions. One of the key features of Xero's invoicing tool is the notification system that alerts you when your invoice has been opened by the recipient, eliminating any confusion over "lost invoices".

If the payee is based in a foreign country and using a different currency, Xero will undertake the task of automatically converting the invoice into the currency used by the client. This means that you never have to worry about calculating exchange rates. Xero covers over 160 currencies and automatically updates exchange rates every hour.

Issuing a payment receipt in Xero.

Add-On Marketplace

There are many activities related to running a small business outside of bookkeeping and accounting, however most of these activities are interlinked in some way. Many small businesses already use a number of other systems such as CRMs, inventory management tools, time trackers, receipt scanners and so forth. Importing all this data from multiple apps to Xero can seem like a daunting task, however this is made hassle-free through the some 350 plus add-ons offered on the Xero Marketplace.

The marketplace provides easy navigation and search options that let users find what they are looking for fast. Add-ons are listed across 15 horizontal categories and 11 industry verticals. The Xero Marketplace is your one-stop source for all integration needs, with seamless integration offered between Xero and any app you sign-up for on the marketplace.

The Bills and Expenses category in Xero's add-on marketplace.

Automatic Updates

For a system that holds strictly private information in the cloud, it is of the utmost importance to remain secure and impenetrable by hackers and other malevolent attackers. Xero developers are perfectly aware of this potential security threat and for this reason provide a dedicated security team whose job it is to keep your data safe on a daily basis.

As users go about their daily business, the Xero team are busy providing constant improvements to their service, adding small adjustments and new features on a constant basis. New features are added every 3-6 weeks to ensure that the efficiency of the app and your user experience are always at the most optimal level.

Integrations


Integrations is an area that Xero has covered one hundred percent. As a business owner running multiple apps, having the ability to have your apps speak to each other is fundamental. For this reason, the Xero Marketplace is a stroke of genius.

The Marketplace offers an ever growing list of more than 350 add-ons categorized by the business needs they serve. Some of the most popular of these add-ons include: Bill.com, Constant Contact, Square, Squarespace, Zen Payroll, Stitch Labs, Kabbage, and BodeTree.

Further popular add-ons include: Harvest, Batchbook CRM, Vend, Evernote, PayPal, Xpenditure, Expensify, Unleashed, WorkflowMax, Spotlight, Magento, Podio, Eventbrite, Infusionsoft, and Receipt Bank.

Pricing


Xero's pricing plans differ according to region. Prospective users should consult the official pricing page of the corresponding Xero website for their location. In general, Xero is offered through 3 different plans. The most basic is the "Starter" plan that costs $9 per month and is limited to five invoices, five bills and 20 bank transactions.

The next plan is the "Standard" package that costs $30 per month and offers an unlimited number of invoices, bills and transactions.The "Premium" plan, costing $70 per month in total, supports multi-currency transactions and is thereby aimed at businesses that have multi-national clients and collaborators. A 30-day free trial of the "Starter" pack is available.

Bottom Line


  • Carry out and collaborate on all accounting and bookkeeping tasks from any internet-enabled device
  • Integrate with your existing applications through the Xero Marketplace - offering over 350 add-ons.
  • Generate insightful financial reports and view all financial activity through a KPI dashboard
  • Easy to use, intuitive interface with clear navigation
  • Mobile application for accounting and collaboration on the go

User Reviews

Verified
Reviewer

NOT Friendly for service contractors who office out in the field!

Mike Smith, President4th of February 21:50

So many issues, I don't know where to start. First off, creating quotes was just added, but only to the desktop version. "Coming soon" for phone/tablet apps. Second, I can't create new client profiles within the app. I must be using the website interface. Third, I can't open an invoice within the app that has a partial payment applied. I'm always receiving partial payments for material deposits. Fourth, if I need to edit an invoice (add time or materials), I must "remove and redo" any payments that have been applied to the invoice. Are you kidding me? Fifth, I asked my rep if the website had a native mobile version (for all of these "it's not in the app yet" scenarios, and he assured me "absolutely". Wrong. Pinch, zoom, slide, zoom out, repeat. Waste of time. This list goes on, but I'll stop there. That plumber lady in their commercial must not really have a handle on how to run a service/construction industry company. Out of the four cloud-based invoicing/accounting companies I've tried, this easily takes the top spot as one I will never give a second chance to.

Verified
Reviewer

A central hub for your business software

Chris Hooper, Director at Hooper Financial / Group Finance Director at ITS Technology Group24th of October, 2014 07:17

I have recently migrated 4 x group companies from Sage to Xero and the benefits are already paying dividends. Xero is so much more than an accounting system - it helps us solve lots of other business challenges too.

Verified
Reviewer

Great

Product Manager (Computer Software company, 51-200 employees)16th of August, 2014 14:46

We reviewed 10 accounting apps. Xero is the best. We are using it so far.

Verified
Reviewer

Xero- Beautiful accounting for both the business owner and accountant

Cristina Garza, Chief Number Cruncher || Accountingprose10th of August, 2014 17:23

As a small business owner and accountant, I have tried many accounting softwares. I was a Quickbooks Pro Advisor for five years and relied heavily on an expensive and inconsistent server to share data with clients. A forward thinking, tech savvy client mentioned Xero to me a few years ago and I blew him off. I have seen accounting software try to compete with Quickbooks and many have failed. I was afraid of ditching the my current method of working with my clients, because I didn't want to have to deal with the struggle of switching software, only to have to do it again after the business tanks or bugs in the code would cause me to become far too frustrated. After several more clients mentioned Xero, I thought I would give it a shot. I tested the software out, totally putting it through the ringer. I used a client as a beta tester and asked for feedback on it. We worked on the file together and tried our best to break the program. After a month of working on Xero, I was hooked! I took all of my clients off of the server and Quickbooks and moved them to Xero and I am so glad that I did. Highlights of Xero (from prospective of an accountant) - I can work with my clients in real time: Clients can leave us notes, can see what we are seeing, and can use Xero on smartphones and laptops- you aren't tied to an operating system - I don't have to waste time on data entry: Bank feeds are magical - I am able to achieve great results at a fraction of the cost: no software upgrades to pay for, no server costs - CPAs still get all of the data they need via Xero reports - Xero customer service is tops- Have an issue? They handle the issue quickly - Xero add ons are amazing and you accounting system can be tied with an SaaS application quickly and easily.

Verified
Reviewer

Simply brilliant

A verified reviewer10th of July, 2014 00:39

Have been using Xero for a year now, after switching from MYOB. So easy, I no longer need to outsource bookkeeping services - and I am emphatically not an accounting adept. Deceptively simple and intuitive, with excellent built-in support access. Live bank feeds = fast easy reconcilliations. Multiple options to monitor/manage invoices, stock control, cash flow, etc. Get it!

Essential for businesses and built to scale

Todd25th of December, 2013 01:52

Being a user of Xero for 12 months accross three businesses I can say it is by far the most simple and time efficient system I have used. Whether your a Company with 10 or 150 employees Xero can suit most sizes. The auto bank feeds, rules and reporting functions are just awesome. We cut down a 25 hour a week position it the office to 12 hours so we were absolutely wrapt. We are now using the Xero network key which means businesses also using Xero can send invoices to our Xero automatically and that is awesome. Highly recommend Xero to all get into it ASAP guys.

AUSSIE WET BLASTING

Robert Strother12th of September, 2013 06:58

Hi everybody I think XERO has saved my life , I can now read and understand my accounts I have got my debtors down to a good level, have money in the bank ( not a lot hard times ) also I have been able to deal with bad paying customers quickly and on top of that 2 of them have gone broke but I got my money long be for as XERO puts the bad ones in my face as soon as I turn it on. Do have 1 complaint can they - you at XERO use every day words as we are not Accountant's we do not use the terms Xero and the number people use and I do find I make mistakes as I don't sit on Xero or speak like an accountant all day long im just a small operator and do many things all day plain language would be great example money out money in tell me all I need to know . Thank you Rob Strother

Don't hesitate...

Steve Harvey11th of September, 2013 11:19

We used MYoB for years but became progressively frustrated by its lack of investment and constant server issues. A cloud-based solution was needed. Our accountants referred us to Xero, which was also being used by a colleague of ours. We switched in 2012 and haven't looked back since. It's got a good balance of quick-overview info and depth when you need it. Very simple to operate and we're loving it.

Xero Geek

Denise2nd of September, 2013 23:19

Never before have I loved doing this work! Reconciling is the first thing I do when I get into the office each day, I have become a fully fledged Xero geek, bring on the caps and tshirts!

Makes life easy

Tom, TLC Office Supplies2nd of September, 2013 03:21

Having used various systems over the years I have now been using Xero for around 6 months and I have to say it's the best. It has made my life so easy with the bank feeds and easy reconciliation and vat reports

Write a review

FAQs for Xero

Below are some frequently asked questions for Xero.

Q. What are the main features of Xero?

Xero offers the following features:

  • Online Accounting - Access Xero anytime, anywhere
  • Bank Rec - Automatically import and code transactions
  • Invoicing - Create and send invoices automatically
  • Add-ons - Pick from a wide range of powerful add-ons
  • Dashboard - Instantly see your bank balances, sales & bills
  • Files - Attach documents to your financial data
  • Smart Lists - Segment contacts based on purchase history
  • Contacts - Keep track of customers and suppliers
  • Login from anywhere
  • Payroll
  • Multi-currency
  • Purchase orders
  • Expense claims
  • Inventory
  • Quick & easy 1099s
  • Mobile apps (iPhone,iPad, Android)
  • Receive bills electronically
  • Free, Unlimited Email Support
  • Multi-currency
  • Financial Reporting
Q. How much does Xero cost?

We have the following pricing information for Xero:

Starting from: $9.00/month
Pricing model: Subscription
Free Trial: Available (No Credit Card required)

Available plans cost $9/month, $30/month, $70/month (USD). No setup or upgrade fees or contracts.

Q. Who are the typical users of Xero?

Xero has the following typical customers:

Freelancers, Non Profits, Small Business

Q. What languages does Xero support?

Xero supports the following languages:

English

Q. What type of pricing plans does Xero offer?

Xero has the following pricing plans:

Free Trial, Subscription

Q. Does Xero support mobile devices?

Xero supports the following devices:

Android, iPhone-iPad, RIM-BlackBerry, Windows Phone

Q. Does Xero offer an API?

Yes, Xero has an API available for use.

Q. What other apps does Xero integrate with?

Xero integrates with the following applications:

CRM, Payroll , Inventory, Invoicing, and many others

Q. What level of support does Xero offer?

Xero offers the following support options:

No information available.

Q. What are the main benefits of using Xero?

Xero offers the following benefits:

Xero has many benefits that will help you: * Keep your accounting data safe & secure * Access your accounts online anytime from anywhere, even on the go using your mobile (iPhone/iPad/Android) or tablet * Get better visibility of your cashflow with real-time data * Greatly reduce the time you have to spend to keep your accounts up to date * Beautiful design makes it fun and easy to use * Software updates are free and available when you log in * Collaborate with your team and your accountant. You decide what each person can see. * February 2015: Now offering payroll for the UK * March 2015: New version of Xero for iOS that provides custom layouts for iPad. “#Xero is the best thing that ever happened to my business. Who knew book-keeping could be fun?!” - @CareerSpa_Wanda via Twitter. “In case I haven't said it enough already, I LOVE @Xero. 2 quarters done in just over an hour vs 6+ hrs on old system.” - @ICT_GURU via Twitter.

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