Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships. Our experts recommend Xero’s accounting software for small businesses. Xero and QuickBooks Online have a lot of similarities, as both have strong features and numerous integrations. Xero tries to throw you as many bones as possible by adding a video or help article to the top of every page you open.
Xero Review: Features, Pricing & More
If you need some extra assistance in finding features or understanding the software, Xero also offers a help center. We also have a comprehensive and free How To Set Up Your Xero Account guide that teaches you how to use and optimize your Xero account. Xero offers a free 30-day trial and even has a demo company set up already, so you can explore the software before you buy cash flow it. Xero offers discounts for nonprofits and owners of multiple companies.
👎 New invoicing interface
But their role has expanded over time, and we’ll look at how in the next chapter. Attach a ‘pay now button’ to your invoices and let your https://www.bookstime.com/articles/equity-multiplier customers pay the way they want – via credit card, debit card, google pay, apple pay and direct debit. Compare features, pricing, and expert reviews for your business software needs – all in one place. Neither Atomic Invest nor Atomic Brokerage, nor any of their affiliates is a bank. Investments in securities are Not FDIC insured, Not Bank Guaranteed, and May Lose Value.
- Professional bookkeepers also provide other services, like helping with financial reports (profit-and-loss, balance sheet, cash flow report), and measuring business performance.
- However, you will probably be required to reconcile your books before submitting tax returns at the very least.
- You can even quickly access drafts, published, and archived reports through dedicated tabs.
- From streamlined bank connections to intuitive online invoicing, Xero’s features empower you to prioritize business growth.
- These will definitely save time and spare you from performing repetitive tasks.
- These elements combine to provide businesses with unparalleled access to immediate, actionable financial insights.
More help with accounting software
Multiple pricing increases over the years have driven up the cost of the software, and customer support isn’t the best. 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. Reconciliation involves regularly cross-referencing your business books against your bank statements to check that the transactions and balances match – and identifying the reasons if they don’t.
👍 Simple user interface
If you have any personal insights or experiences with Xero, feel free to share your thoughts in the comments below. Your input could be invaluable for others trying to make this important decision. Whether you do a lot of your own bookkeeping or outsource it all, software can help you save your time and budget. But it’s in the 15th century that the roots of modern bookkeeping can be found. And fittingly, there are two entries in the what is xero history books for who documented the double-entry system.
Xero Accounting Software In-Depth Review 2025
In case you have complex accounting needs, you will still need an accountant to manage bookkeeping and taxation. While my overall experience of using Xero was positive, I noticed some platform limitations. Since this plan is ideal for freelancers, removing the restriction will surely encourage more freelancers to opt for Xero. Besides an overview of unpaid bills, expenses, and purchase orders, Xero displays bills in different categories, such as draft, waiting for approval, or ready to be paid.
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Today’s leading accounting platforms offer standard security features like data encryption, secure credential tokenization and more. While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe. All three plans come with an optional add-on for payroll with Gusto for $40 per month plus $6 per month per person. You’ll receive your invoice at the end of your monthly billing period.