Instead, customers can visit the Xero Central support site or raise a case online. A representative typically responds to a case within a few hours. Users that are new to bookkeeping won’t be overwhelmed by Xero’s simple and easy-to-navigate layout. This layout makes the reconciliation process, among other accounting tasks, particularly easy. The software shows you potential transaction matches side by side, so you can immediately see if the match is accurate without having to click anything. FreshBooks charges $17 per month and QuickBooks charges $30 per month).
Xero’s online accounting software is designed to make life easier for small businesses – anywhere, any time. Log in anytime, from anywhere, to send invoices, pay bills, and manage your cash flow. Some parts of the experience require time and patience to master.
Customise and grow with your business
Information is gathered on a regular basis and reviewed by our editorial team for consistency and accuracy. In the Early plan, the least expensive subscription, you can send up to 20 invoices and schedule up to five bill payments only. That can be limiting, even for freelancers and sole proprietors. For unlimited invoicing and bill-paying capacity, you’ll need to upgrade to the Growing plan. For example, you can give all employees the ability to send quotes and invoices, allow some to enter expenses and limit who can see the company’s complete financial picture. To keep things organized, Xero logs every action users wave 3 weather make and compiles the history of every transaction.
Product
- A dashboard provides a summary of your business’s financial health, including total cash in and out, outstanding invoices and overdue bills.
- Xero looks to be shaking up its pricing structure and strategy in the coming months.
- Then again, QuickBooks requires user limits for each plan while Xero doesn’t.
- Most small businesses will exceed that limit quickly and be forced to upgrade to a more expensive plan.
- FreshBooks starts at $19 per month after the signup discount and incorporates standout features like team roles and time tracking on all plans.
- Read our 2024 Xero review to find out if it’s the right solution for your business.
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.
Includes project tracking tools in most expensive plan; has transaction tracking tags; lacks industry-specific reports; users with multiple businesses must pay for separate subscriptions. Has robust reporting tools and report customization options, basic inventory tracking in all plans and a capable mobile app; Early plan limits the number of invoices and bills. Keep in mind that the net sales: main differences with gross sales 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.
While Xero’s plans start at a cheaper price, QuickBooks offers more features across its plans. Then again, QuickBooks requires user limits for each plan while Xero doesn’t. We compared the two options in terms of their key features, pricing and customer service to help you decide which is right for your business. Xero is a great option for large teams and small- to medium-sized businesses that need high-level accounting systems. It’s also a good fit if you want to integrate Gusto Payroll to your accounting platform.
Key features of Xero
Next up, the Growing package costs $32 per month and lets you send invoices and quotes, enter bills and reconcile bank transactions. The tradeoff for Xero’s unlimited users on the Early plan is that it enforces pretty stiff limits on other things, only allowing 20 invoices and 5 bills per month. Most small businesses will exceed that limit quickly and be forced to upgrade to a more expensive plan.
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However, Wave’s features are more limited than many competitors in order to keep the price low, so it may not suffice for growing businesses. Unlike Xero, QuickBooks allows unlimited invoices on the cheapest Simple Start plan — but limits you to 1 billable user and 2 accountant firm users. If you need only 1 person to use the software but plan to send a high number of invoices and bills, QuickBooks may be a more cost-effective choice than Xero. Once you’ve got your bank information in Xero, the software will help you match up your transactions for reconciliation (Figure B). Keep in mind that bulk reconciliation is not included with the cheapest Early plan, so you might have to pay to upgrade if you want this feature. I wish it was included in all plans, because manually reconciling one transaction at a time is very tedious for many businesses.
Read our 2024 Xero review to attestation services find out if it’s the right solution for your business. Xero’s bank feed securely imports your transactions into the Xero accounting software each business day. To review this software, I signed up for a free trial of the Xero Established plan.