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Xero vs CosmoLex Comparison

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Overview

Category Leaders

Xero is a cloud-based small business accounting software with tools for managing invoicing, bank reconciliation, inventory,...

Category Leaders

CosmoLex is the ONLY Cloud-based, all-in-one practice management, billing, AND accounting system (No QuickBooks Required).

  • Platforms supported
  • Web-based
  • iPhone app
  • Android app
  • Windows Phone app
  • Typical customers
  • Freelancers
  • Small businesses
  • Mid size businesses
  • Large enterprises
  • Customer support
  • Phone
  • Online
  • Knowledge base
  • Video tutorials
  • Platforms supported
  • Web-based
  • iPhone app
  • Android app
  • Windows Phone app
  • Typical customers
  • Freelancers
  • Small businesses
  • Mid size businesses
  • Large enterprises
  • Customer support
  • Phone
  • Online
  • Knowledge base
  • Video tutorials

Screenshots

Pricing

Starting from
$

13.50

/momonth
  • Free trial available
  • No credit card required
  • Free account
  • Subscription based
Starting from
$

79

/momonth
  • Free trial available
  • No credit card required
  • Free account
  • Subscription based

User reviews

4.3

5

4

3

2

1

1,141

530

177

54

73

  • Value for money
  • Ease of use
  • Features
  • Customer support
92%
would recommend this app

5

4

3

2

1

229

56

7

2

2

  • Value for money
  • Ease of use
  • Features
  • Customer support
98%
would recommend this app

Pros

The ease of use and reputation are by far the greatest part of this product. In addition to this, the range of potential integrations is fantastic.
I love the app and gives me accounting on the go. Helps me track invoices and profits with ease.
Really easy to submit expenses, categorise them and check the progress of you submitted expense - super easy to do all from the app.

Pros

My overall experience with CosmoLex has been excellent. The initial onboarding process was very useful and the data migration from my previous accounting software program was quite seamless.
The technical support has been excellent, both from their quick responsiveness and their ability to solve any issues I may have.
After trying more than 5 of the other solutions, Cosmolex was the best cost effective solution, giving me a complete package of tools for all aspects of my firm.

Cons

There are no delivery notes/packing slips. They tout a "workaround" but be warned, it's exactly 10 extra clicks so it's really not an option if you need this feature.
Our main complaint is that Xero stopped doing payroll in 2018, so now you have to pay an additional fee to a payroll processor such as Gusto.
Changing accounting software from Xero is a horrible experience. They make it very difficult to pivot to other software.

Cons

Then why am I paying to use Cosmolex. Lastly, the customer service has been consistently terrible.
The only difficulty our firm has had has been in discerning how to remove or amend charges to clients once they have been billed and once payment has been received.
Second, when I chatted someone to find this "update" they could not find it or direct me to it. The lack of integrations (and the integrations they are getting) is really problematic.
  • Vendor responds to reviews
  • Last review5 days ago
  • Vendor responds to reviews
  • Last review25 days ago

Key features

  • Total features169
  • "What If" Scenarios
  • 401(k) Tracking
  • ACH Payment Processing
  • API
  • Access Controls/Permissions
  • Account Reconciliation
  • Accounting
  • Accounting Integration
  • Accounts Payable
  • Accounts Receivable
  • Accrual Accounting
  • Activity Dashboard
  • Activity Tracking
  • Ad hoc Reporting
  • Alerts/Notifications
  • Approval Process Control
  • Approval Workflow
  • Archiving & Retention
  • Asset Accounting
  • Asset Tracking
  • Assignment Management
  • Audit Management
  • Audit Trail
  • Authentication
  • Automated Quoting
  • Automated Scheduling
  • Automatic Backup
  • Automatic Billing
  • Bank Reconciliation
  • Benefits Management
  • Billable Items Tracking
  • Billing & Invoicing
  • Billing Portal
  • Billing Rate Management
  • Budgeting/Forecasting
  • Built-in Accounting
  • CPA Firms
  • CRM
  • Calendar Management
  • Calendar Sync
  • Case Defined Timekeepers
  • Case Management
  • Case Notes
  • Cash Flow Management
  • Cash Management
  • Cataloging/Categorization
  • Charting
  • Check Printing
  • Check Processing
  • Check Writing
  • Client Management
  • Client Portal
  • Collaboration Tools
  • Collections Management
  • Completion Tracking
  • Compliance Management
  • Conflict Management
  • Consolidation/Roll-Up
  • Construction Breakdowns
  • Contact Database
  • Contact Management
  • Contingency Billing
  • Contract/License Management
  • Cost Tracking
  • Credit Card Processing
  • Cross Ledger Posting
  • Currency Conversion
  • Customer Database
  • Customer History
  • Customer Segmentation
  • Customer Statements
  • Customizable Branding
  • Customizable Fields
  • Customizable Invoices
  • Customizable Reports
  • Customizable Templates
  • Data Import/Export
  • Database Conversion
  • Depreciation Management
  • Direct Deposit
  • Discount Management
  • Docket Management
  • Document Automation
  • Document Classification
  • Document Generation
  • Document Management
  • Document Storage
  • Document Templates
  • Drag & Drop
  • Due Date Tracking
  • Dunning Management
  • Duplicate Payment Alert
  • Electronic Payments
  • Email Management
  • Email Templates
  • Expense Claims
  • Expense Management
  • Expense Tracking
  • Fee Calculation & Posting
  • File Management
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Fixed Asset Management
  • For CPA Firms
  • For Government
  • For Legal Professionals
  • Forecasting
  • Fraud Detection
  • Full Text Search
  • Fund Accounting
  • General Ledger
  • Goal Setting / Tracking
  • Hourly Billing
  • Income & Balance Sheet
  • Interaction Tracking
  • Inventory Control
  • Inventory Management
  • Inventory Optimization
  • Inventory Tracking
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • Job Costing
  • Kitting
  • Legal Case Management
  • Live Chat
  • Match & Merge
  • Microsoft Outlook Integration
  • Mobile Access
  • Mobile Payments
  • Monitoring
  • Multi-Channel Management
  • Multi-Company
  • Multi-Country
  • Multi-Currency
  • Multi-Location
  • Multi-State
  • Nonprofits
  • Online Invoicing
  • Online Payments
  • Order Management
  • Order Processing
  • Order Tracking
  • Overpayment Processing
  • Overrun Reporting
  • Partial Payments
  • Payment Processing
  • Payroll Management
  • Payroll Reporting
  • Performance Metrics
  • Price / Margin Management
  • Pricing Management
  • Product Configurator
  • Product Identification
  • Profit/Loss Statement
  • Progress Tracking
  • Project Accounting
  • Project Billing
  • Project Management
  • Purchase Order Management
  • Quotes/Estimates
  • Real Time Data
  • Real Time Reporting
  • Receipt Management
  • Receivables Ledger
  • Recurring/Subscription Billing
  • Reimbursement Management
  • Reminders
  • Reorder Management
  • Reporting & Statistics
  • Reporting/Analytics
  • Requisition Management
  • Retail Inventory Management
  • Revenue Recognition
  • Rules-Based Scheduling
  • SSL Security
  • Sales Reports
  • Sales Tax Management
  • Search/Filter
  • Secure Data Storage
  • Self Service Portal
  • Shipping Management
  • Sourcing Management
  • Spend Management
  • Staff Calendar
  • Staff Management
  • Status Tracking
  • Stock Management
  • Summary Reports
  • Supplier Management
  • Task Management
  • Task Progress Tracking
  • Task Scheduling
  • Tax Calculation
  • Tax Compliance
  • Tax Management
  • Team Calendars
  • Template Management
  • Third Party Integrations
  • Time & Expense Tracking
  • Time Tracking
  • Timer
  • Transaction History
  • Trust Accounting
  • Two-Factor Authentication
  • Vacation/Leave Tracking
  • Vendor Management
  • Version Control
  • W-2 Preparation
  • Wage Garnishment
  • Warehouse Management
  • Workflow Management
  • Total features93
  • "What If" Scenarios
  • 401(k) Tracking
  • ACH Payment Processing
  • API
  • Access Controls/Permissions
  • Account Reconciliation
  • Accounting
  • Accounting Integration
  • Accounts Payable
  • Accounts Receivable
  • Accrual Accounting
  • Activity Dashboard
  • Activity Tracking
  • Ad hoc Reporting
  • Alerts/Notifications
  • Approval Process Control
  • Approval Workflow
  • Archiving & Retention
  • Asset Accounting
  • Asset Tracking
  • Assignment Management
  • Audit Management
  • Audit Trail
  • Authentication
  • Automated Quoting
  • Automated Scheduling
  • Automatic Backup
  • Automatic Billing
  • Bank Reconciliation
  • Benefits Management
  • Billable Items Tracking
  • Billing & Invoicing
  • Billing Portal
  • Billing Rate Management
  • Budgeting/Forecasting
  • Built-in Accounting
  • CPA Firms
  • CRM
  • Calendar Management
  • Calendar Sync
  • Case Defined Timekeepers
  • Case Management
  • Case Notes
  • Cash Flow Management
  • Cash Management
  • Cataloging/Categorization
  • Charting
  • Check Printing
  • Check Processing
  • Check Writing
  • Client Management
  • Client Portal
  • Collaboration Tools
  • Collections Management
  • Completion Tracking
  • Compliance Management
  • Conflict Management
  • Consolidation/Roll-Up
  • Construction Breakdowns
  • Contact Database
  • Contact Management
  • Contingency Billing
  • Contract/License Management
  • Cost Tracking
  • Credit Card Processing
  • Cross Ledger Posting
  • Currency Conversion
  • Customer Database
  • Customer History
  • Customer Segmentation
  • Customer Statements
  • Customizable Branding
  • Customizable Fields
  • Customizable Invoices
  • Customizable Reports
  • Customizable Templates
  • Data Import/Export
  • Database Conversion
  • Depreciation Management
  • Direct Deposit
  • Discount Management
  • Docket Management
  • Document Automation
  • Document Classification
  • Document Generation
  • Document Management
  • Document Storage
  • Document Templates
  • Drag & Drop
  • Due Date Tracking
  • Dunning Management
  • Duplicate Payment Alert
  • Electronic Payments
  • Email Management
  • Email Templates
  • Expense Claims
  • Expense Management
  • Expense Tracking
  • Fee Calculation & Posting
  • File Management
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Fixed Asset Management
  • For CPA Firms
  • For Government
  • For Legal Professionals
  • Forecasting
  • Fraud Detection
  • Full Text Search
  • Fund Accounting
  • General Ledger
  • Goal Setting / Tracking
  • Hourly Billing
  • Income & Balance Sheet
  • Interaction Tracking
  • Inventory Control
  • Inventory Management
  • Inventory Optimization
  • Inventory Tracking
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • Job Costing
  • Kitting
  • Legal Case Management
  • Live Chat
  • Match & Merge
  • Microsoft Outlook Integration
  • Mobile Access
  • Mobile Payments
  • Monitoring
  • Multi-Channel Management
  • Multi-Company
  • Multi-Country
  • Multi-Currency
  • Multi-Location
  • Multi-State
  • Nonprofits
  • Online Invoicing
  • Online Payments
  • Order Management
  • Order Processing
  • Order Tracking
  • Overpayment Processing
  • Overrun Reporting
  • Partial Payments
  • Payment Processing
  • Payroll Management
  • Payroll Reporting
  • Performance Metrics
  • Price / Margin Management
  • Pricing Management
  • Product Configurator
  • Product Identification
  • Profit/Loss Statement
  • Progress Tracking
  • Project Accounting
  • Project Billing
  • Project Management
  • Purchase Order Management
  • Quotes/Estimates
  • Real Time Data
  • Real Time Reporting
  • Receipt Management
  • Receivables Ledger
  • Recurring/Subscription Billing
  • Reimbursement Management
  • Reminders
  • Reorder Management
  • Reporting & Statistics
  • Reporting/Analytics
  • Requisition Management
  • Retail Inventory Management
  • Revenue Recognition
  • Rules-Based Scheduling
  • SSL Security
  • Sales Reports
  • Sales Tax Management
  • Search/Filter
  • Secure Data Storage
  • Self Service Portal
  • Shipping Management
  • Sourcing Management
  • Spend Management
  • Staff Calendar
  • Staff Management
  • Status Tracking
  • Stock Management
  • Summary Reports
  • Supplier Management
  • Task Management
  • Task Progress Tracking
  • Task Scheduling
  • Tax Calculation
  • Tax Compliance
  • Tax Management
  • Team Calendars
  • Template Management
  • Third Party Integrations
  • Time & Expense Tracking
  • Time Tracking
  • Timer
  • Transaction History
  • Trust Accounting
  • Two-Factor Authentication
  • Vacation/Leave Tracking
  • Vendor Management
  • Version Control
  • W-2 Preparation
  • Wage Garnishment
  • Warehouse Management
  • Workflow Management

Integrations

  • Total integrations956
  • Authorize.net
  • Dynamics 365
  • FreshBooks
  • Magento Commerce
  • Microsoft Dynamics GP
  • Microsoft Excel
  • NetSuite
  • PayPal
  • QuickBooks Online
  • QuickBooks Online Advanced
  • SAP Business One
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Workato
  • Xero
  • Zapier
  • Total integrations12
  • Authorize.net
  • Dynamics 365
  • FreshBooks
  • Magento Commerce
  • Microsoft Dynamics GP
  • Microsoft Excel
  • NetSuite
  • PayPal
  • QuickBooks Online
  • QuickBooks Online Advanced
  • SAP Business One
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Workato
  • Xero
  • Zapier

Security

  • Encryption of sensitive data at rest
  • HTTPS for all pages (web-based apps)
  • Reports/alerts for security breaches
  • Multifactor authentication options
  • Customer data removed upon service cancellation
  • Encryption of sensitive data at rest
  • HTTPS for all pages (web-based apps)
  • Reports/alerts for security breaches
  • Multifactor authentication options
  • Customer data removed upon service cancellation