Price

$25

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Xero REVIEW

Accounting Software

6 user reviews
USER SATISFACTION 97%
OUR SCORE 9.4

What is Xero?

Xero is one of the market’s favorite financial collaboration apps (or the beautiful accounting software as its developers like to call it) listed high on our list of leaders in the accounting category. This system is designed to meet the requirements of small businesses regardless of their industry, and is often qualified by accountants as the ‘handiest asset for managing financial activities’. As far as our experts are concerned, Xero is friendly and usable, and collates only top rank features that help close important accounting gaps.

Many interesting comments can be read about Xero’s business value, including such that target it as ‘the system which wrote the best chapter in digital accounting history’. Companies, the same as sole proprietors, like how Xero branches out the exact functions they need, developed with user experience in the first plan.

Even users with no accounting knowledge find it easy to manage, as it transforms some of most standardized and complex financial concepts into an enjoyable journey. Double bookkeeping, for instance, can be traced back to the origins of business as a whole, but Xero managed to break the stigma of it not being conductible by non-expert users. The logic and the terminology remain the same, but operations get just as complex as your business niche needs them to be. Being completely frank about it, it is usability that attached most of the top star rankings the company praises with, in parallel with the fact that Xero does a better accounting job than most prominent names in this industry. If you fear not having an experienced bookkeeper to move the wheel, feel free to rely on Xero’s certified advisors’ guidance.

The system was founded in New Zealand in 2006, and has been recording outstanding growth rates on the Australian, American, UK and European market. Nowadays, the once modest accounting project has turned into a millions-worth corporation with 20 offices settled in different parts of the world. Even Forbes magazine named Xero the World’s Most Innovative Growth Company two years in a row (2014 and 2015).

So far, 475,000 business and sole accountants have confirmed Xero to be a worthy contender, mostly because of the fact that its advanced suite resembles enterprise-grade functionality. Partnered with a number of accounting systems and third-party apps, Xero gives you the opportunity to extend its usefulness from all possible aspects, and to use it regardless of your software history. Knowing how difficult exporting sensitive customer data can be, we have no choice but to admire this product, and appreciate the opportunity to use it for as little as $20 per month. Yet, professional plans are also available, the main difference between them being the number of bills, invoices and quotes, and availability of payrolls and multi-currency functionalities. You can explore the features using the product’s free trial, and decide which plan is the most suitable for you.

Overview of Xero Benefits

Briefly explained, Xero is a competent accounting management system that works in line with businesses’ rules and priorities, and manages money in and out of their budgets in a way that will coincide with their goals and long-term missions. But how will your actual encounter with this system look like? Moreover, what should you expect from it?

Painless setup

Sounds like a romantic fairytale when translated to accounting terms, but launching Xero won’t require overtimes and complex trainings. From data entry to deep accounting, Xero is designed to facilitate the already cumbersome financial operations, and reduce the time spent scrambling voluminous records. Once pulled inside the system, all transactions and contacts are governed from the same page, and that’s exactly where Xero’s charm becomes most visible.

Xero allows editing ‘on the go’, the advantage of it being fast and accurate transacting from moment one. As experienced accountants will agree, there aren’t that many small-biz-friendly apps that will offer such flexibility without asking users to pay recurring fees or purchase expensive add-ons. If you’re really rushing to move money around, you can consider their Express Setup feature, or contact the Help Center to provide you with an accurate roadmap on how to add users, insert information in the Chart of accounts, or connect your bank feeds.

Most of the system’s functionality is concentrated on the Dashboard, where you can monitor the company’s billing and invoicing status and compare finances in fancy charts, but also access directly all action sections that matter to your financial management. There are seven tabs overall, but most of the functionality is bundled in the Settings tab, where you enter corporate information and adjust financial settings. Another important tab you should know about is the Accounts menu, where you can find and alter checks, bank accounts, and expense claims and create records for your payroll needs.

Simplified transactions

Xero is quite generous in the configuration sense, and transaction forms allow users to experience how that really feels. All purchase files can be edited within seconds, in particular the ready templates offered by the system for those who prefer to skip drafting individual ones. If you’re not that much of a creative person, open the template, and check/uncheck just as many data fields as necessary to make the documents feel personal.

What you will also like about Xero’s transactions is the multiple-approval model and two-factor authentication, which minimizes the probability of financial fraud. For every transaction, there will be a detailed list of performed actions, including dates, users, and manual notes. In terms of sales, this method will make it possible to control purchase orders, and categorize invoices as drafted, awaiting approval, awaiting payment, or delayed.

An overview on your business’s current financial health

How about an app that will genuinely provide feedback for your financial operations? Financial reporting is among Xero’s strongest advantages, as it can summarize the effects of all your activities, by simply filling the filters you’d like to see included. Basically, even when pulling a standard report out of this system, that report can be tailored to your specific needs.  

Standard reports as such are available in Xero, including Balance sheets, Income Statements, and Cash Flow records, but its true value hides behind additional analysis: few of the system’s reports are highly specific, tackling sales per items, expenses per contacts, aged payables, and so on. You can also use Xero’s reporting to filter important transactions per category, or draft prolific invoicing histories for each client. Advanced accountants should pay attention to the Business Performance tool that tracks equity ratio debts and net value per sale, and the Management Reports that reveal the full picture of the company’s profitability based on ROI and cash flow observations.

Transformed inventory management

Currently, Xero processes and runs payrolls, and automatically adjusts taxes for more than 20 states, and one could not help asking how a small-biz app can actually do that.

The reason is that Xero is just as much of an inventory and stock management powerhouse as it is a payroll performer, and allows you to create and keep detailed possession records to use automatically in your transactions. All of these records are robust, and contain details such as tax status, purchase costs, committed quotes, and relevant descriptions. What is good to know is that even if payroll is limited to higher plans, inventory management remains active even in the lowest plan, and delivers enterprise-grade asset tracking at no more than $20 per month.

Overview of Xero Features

  • Add-ons – Choose from a wide range of powerful add-ons
  • Bank reconciliation – Automatically import and code transactions
  • Contacts – Keep track of suppliers and customers
  • Dashboard – Instantly view your bank balances, sales and bills
  • Expense claims
  • Files – Attach documents to your financial data
  • Financial reporting
  • Free, unlimited email support
  • Inventory
  • Invoicing – Create and send invoices automatically
  • Log in from anywhere
  • Mobile apps (Android, iPhone/iPad)
  • Multi-currency
  • Online accounting – Access Xero anytime, anywhere
  • Payroll
  • Purchase orders
  • Quick and easy 1099s
  • Receive bills electronically
  • Smart lists – Segment contacts based on purchase history

Xero Position In Our Categories

Position of Xero in our main categories:

10

Xero is one of the top 10 Accounting & Finance Software products

10

Xero is one of the top 10
Accounting & Finance Software products


Xero is also listed in the following subcategories:

Category:Position:Category:Position:
Accounting Software#6 Accounts Payable Software#6
Accounts Receivable Software#6 Billing and Invoicing Software#6
Budgeting Software#4 Expenses Management Software#5
Financial Reporting Software#5 Payroll Management Software#1

Every company has its own characteristics, and might require a specific Accounting & Finance Software solution that will be adjusted to their company size, type of clients and employees and even particular niche they deal with. You should not count on getting an ideal app that will work for each company regardless of their history is. It may be a good idea to read a few Xero reviews first and even then you should keep in mind what the service is intended to do for your business and your employees. Do you require a simple and intuitive solution with just essential features? Will you really make use of the advanced functionalities needed by experts and large enterprises? Are there any particular features that are especially practical for the industry you work in? If you ask yourself these questions it is going to be much easier to find a reliable solution that will fit your budget.

How Much Does Xero Cost?

Xero Pricing Plans For Enterprises & Small Business:

Xero provides its clients with a 30-day free trial and three SMB and enterprise pricing plans to choose from. Here are the details:

Starter – $25/month

  • 5 Invoices and Quotes
  • 5 Bills
  • 20 Bank Transactions
  • 1 Payroll

Standard – $50/month

  • Unlimited Invoices and Quotes
  • Unlimited Bills
  • Unlimited Bank Transactions
  • 5 Payrolls

Premium 5 – $60/month

  • Unlimited Invoices and Quotes
  • Unlimited Bills
  • Unlimited Bank Transactions
  • 10 Payrolls
  • Multi-Currency
  • Auto superannuation

User Satisfaction

We realize that when you make a decision to buy Accounting Software it’s important not only to see how experts evaluate it in their reviews, but also to find out if the real people and companies that buy it are actually satisfied with the product. That’s why we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and Xero reviews across a wide range of social media sites. The data is then presented in an easy to digest form showing how many people had positive and negative experience with Xero. With that information at hand you should be equipped to make an informed buying decision that you won’t regret.

POSITIVE SOCIAL MENTIONS

185

NEGATIVE SOCIAL MENTIONS

6

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Technical details

Devices Supported
  • Windows
  • Android
  • iPhone/iPad
  • Mac
  • Web-based
Language Support
  • USA
  • UK
  • Canada
  • International
Pricing Model
  • Monthly payment
Customer Types
  • Small Business
  • Freelancers
Deployment
  • Cloud Hosted

What Support Does This Vendor Offer?

  • EMAIL
  • PHONE NO.
  • LIVE SUPPORT
  • TRAINING
  • TICKETS

What are Xero pricing details?

Xero Pricing Plans:

Xero provides its clients with a 30-day free trial and three SMB and enterprise pricing plans to choose from. Here are the details:

Starter – $25/month

  • 5 Invoices and Quotes
  • 5 Bills
  • 20 Bank Transactions
  • 1 Payroll

Standard – $50/month

  • Unlimited Invoices and Quotes
  • Unlimited Bills
  • Unlimited Bank Transactions
  • 5 Payrolls

Premium 5 – $60/month

  • Unlimited Invoices and Quotes
  • Unlimited Bills
  • Unlimited Bank Transactions
  • 10 Payrolls
  • Multi-Currency
  • Auto superannuation

What integrations are available for Xero?

Xero has over 400 partners that help make its software work seamlessly with the business software used by their customers, resulting in a better, more efficient customer experience. Current integrations include:

  • Zenpayroll
  • Squarespace
  • Evernote
  • Stripe
  • Expensify
  • PayPal
  • ADP
  • Stich Labs
  • Square
  • Kabbage
  • Deputy
  • Vend
  • Bill
  • Workflow Max
  • Bode Tree
  • Harvest
  • Mogul
  • rPOS by RPG
  • Neatly
  • Expandly
  • Synergy 8
  • Mentio Business Mentor
  • Fishbowl Manufacture and Warehouse
  • Automatic Mileage Expensing
  • Boomr
  • Carbon Analytics
  • Stripe by Commerce Sync
  • Pennypipe
  • Red Arc System
  • MRPEasy
  • Volusion by Vextras
  • Ranqx

User reviews


6 Reviews

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The most favorable review

Amanda


Pros:
I love that Xero is intuitive and I didn’t have to refer to the help files even once. Plus, it gives helpful prompts such as asking if you wish to email your invoices and if you want your customers to view their bills online. The app is very practical in this aspect. The user interface is simple and I can customize the dashboard for my individual needs. Finally, you can use the API to integrate Xero with your CRM.

Cons:
The only minor glitch is it would be better if you could collapse or combine the dashboard elements. For example, for Bank accounts, you might just need the overall cash position and not the entire list of your accounts. However, it is only a minor issue, and the product overall is excellent.

The least favorable review

Olivia


Pros:
I love that Xero is web-based which means I can give access to all those who need to view our accounts. Plus, I can control access with permissions depending on user role. I can integrate Xero with my CRM though I have to pay extra. I use the app to maintain all invoices and bills online which reduces office paperwork. It is great if your suppliers and clients also use Xero, as you can easily transfer the invoices internally to their systems, which eliminates errors. Finally, I can set up rules in the system to automatically match and reconcile bank accounts, and also directly import my bank statements from various banks.

Cons:
Xero is not intuitive and you need training from an experienced user to learn to use it. I recommend using the services of a qualified accountant who can set up the system and do the testing for you.


Amanda

Verified
user
I love that Xero is intuitive and I didn’t have to refer to the help files even once. Plus, it gives helpful prompts such as asking if you wish to email your invoices...

Olivia

Verified
user
I love that Xero is web-based which means I can give access to all those who need to view our accounts. Plus, I can control access with permissions depending on user...

Morris

Verified
user
I like that Xero is easy to use even for non-accountants. It is simple to do data entry even with coding in Excel. The Yodlee bank feeds are simple to work with and...

Julius

Verified
user
I like Xero for the following benefits it offers: The app is easy to understand and use even for non-accountants. It seamlessly integrates with popular platforms. It’s...

Brandy

Verified
user
I love Xero’s user interface and the dashboard offers an excellent overview of my accounts. It’s easy to sync bank accounts with credit cards and reconcile...

Anonymous Reviewer - Financial Services

Verified
user
I was a QuickBooks user, but the app is no good for Mac. So, I switched over to Xero. It helps to convert from QB, so there are no hassles. Xero’s interface is elegant...

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