While it might fall short for larger enterprises with complex, specific needs, it remains a formidable option for its target market. Xero offers several support channels, including a robust online help center, tutorials, and 24/7 customer support via email. However, the absence of direct phone support can be a point of frustration for users seeking immediate assistance for complex issues. While resources like webinars and forums are available, the response time for queries, especially those handled via email, can be longer than desired, leading to delays in resolving pressing matters.
Xero Accounting Review 2024: Pricing, Features, Alternatives
Many business owners with a growth when the irs classifies your business as a hobby mindset prefer choosing an accounting software solution and sticking with it over the long haul. Compared to other software we reviewed, Xero stands out for meeting businesses’ needs in all growth phases. Xero has a mobile app, Xero Expenses, that allows you to snap pictures of receipts and create an expense instead of having to manually enter all the information. This feature is available on all pricing plans; which I appreciate since some accounting software charges extra for mobile receipt capture.
QuickBooks
However, the initial learning curve can be steep, especially for those new to digital accounting solutions. The onboarding process is comprehensive, offering setup assistance and a step-by-step guide, yet some users might find the abundance of features overwhelming at first. The software organizes financial information efficiently, but mastering full utilization of its reporting features can take time. Additionally, Xero offers a 30-day free trial, so you and your employees can test the software before you buy it. Not every accounting software provider offers a free trial, so we appreciate this feature. Xero connects to your bank and credit card accounts and imports data daily, so we really appreciate that it protects your sensitive business data with bank-grade encryption.
However, we are disappointed that Xero lacks tax support, doesn’t have more advanced inventory (unless you purchase the Inventory Plus add-on), and doesn’t have more invoice templates. Xero no longer includes payroll — although a paid Gusto add-on is available — and it has limited some features (such as expenses and multicurrency support) to its most expensive plan. Unlimited users and advanced features make this cloud accounting software platform a good fit for many small businesses. 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 make and compiles the history of every transaction.
- Everything is done in the cloud, meaning you can edit invoices without the hassle of resending them to customers.
- This feature makes international transactions easy by allowing businesses to send invoices, quotes, and purchase orders in over 160 currencies.
- While sending the invoice, companies have the freedom to choose the most suitable payment method for each customer.
- They can create and send invoices and track payment status from the same platform.
- If you need some extra assistance in finding features or understanding the software, Xero also offers a help center.
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. If you use the Established plan, you can track billable time to add to projects. Zoho Books’ paid plans all come with free live chat and phone support.
Xero’s simple invoicing tool (Figure A) makes it easy to upload your logo and choose from several branding themes, but I’d love to see more extensive customization options. Xero does offer an invoice template to help get you started, and you can choose to create and save your own templates. Once customers receive the invoice, they can pay you directly from it by clicking the “pay now” button and using a credit card, debit card or direct debit. You can also accept payments from popular services such as Stripe and GoCardless. Xero is a cloud-based, double-entry accounting software tool that is designed with small businesses in mind.
Xero Software Product Overview
Users can organize the bills in folders and view bills on-screen while entering the data. Xero enables companies to set up recurring bills by replicating the last bills from a supplier and modifying them as needed. Even then you can tend to find yourself getting a little tied up in knots such is the powerful array of features on offer. In that respect the built-in help will pay dividends as you use it to navigate any of the trickier aspects of the cloud-based layout. Additionally, firms needing in-depth project management integrated with their financials might find Xero’s capabilities not extensive enough, leading to reliance on additional software. When selecting an accounting tool, businesses craving depth in financial tracking will find Xero a strong contender.
Xero Customer Service
Multiple pricing increases over the years have driven up the cost of the software, and customer support isn’t the best. However, Xero is the better choice if you want more advanced features and support for unlimited users, as additional users are only available for a fee if you use FreshBooks. Xero often gets praised for its robust feature selection by its customers, and we have to agree. Overall, Xero has a set of features that easily rival competitors like QuickBooks Online.
You can email invoices directly from the software; Xero integrates with PayPal, Stripe, Square and other payment processors, so you can accept payments online. A bar at the top of the interface contains several drop-down menus that house Xero’s features. Like other major accounting packages, such as QuickBooks, Xero’s feature-packed interface can sometimes feel a bit overwhelming. However, compared to competitors we reviewed, Xero excels at presenting information in an easy-to-understand way. For example, Xero’s cash flow bar chart displays cash going out of the company as a gray line and cash coming in as a blue line. A business owner trying to maintain positive cash flow would look for the blue line to remain above the gray line (see the screenshot below for an example).