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.
Xero is cloud-based accounting software that packs a real punch when it comes to features and functionality. Based in New Zealand, the multi-faceted package currently comes in three incarnations and is aimed at small, medium and larger-sized businesses. When rating accounting and invoicing software, ebitda definition we use a 47-point rubric that looks at pricing, ease of use, features, customer service, and user reviews. We weigh each section differently to calculate the total star rating. There is limited tax support, limited invoice templates, no built-in payroll, and a steep learning curve. Multiple pricing increases over the years have driven up the cost of the software, and customer support isn’t the best.
The layout is, on the face of it, pretty simple with a user-experience that delivers quick and easy access to core features. These are found via a top menu that houses not only the Dashboard, but Business, Accounting and Contacts options too. We spend hours researching and evaluating each accounting software system we review at Merchant Maverick, placing special emphasis on key characteristics to generate our ratings.
Xero is robust, cloud-based software with strong accounting, ample integrations, and some great features. It offers tons of automations to save your business time, such as automatic sales tax lookup, group invoicing, and default email templates. Plus, Xero supports unlimited users at no additional cost — a rarity in the accounting software world. The Established plan costs $80 per month and includes unlimited numbers of invoices and bills. In addition to all the features of the other two plans, the Established plan includes the use of multiple currencies, tracking time and projects, claiming expenses and viewing in-depth analytics.
Customise and grow with your business
If your bank doesn’t already have a connection, you can import PDF statements. Xero and QuickBooks Online have a lot of similarities, as both have strong features and numerous integrations. Xero’s accounting software is highly rated among small businesses.
Account holders are able to customize online invoices to add a logo, accept payments instantly through the invoice, set automatic reminders for clients to pay and invoice directly from the Xero app. Xero processes payment through a payment gateway like Stripe, GoCardless and others. Keep in mind that these services charge a fee to process payments (usually around 2.9% plus 25 cents per transaction, though this varies by the payment processor). Xero includes extensive features that make it suitable to handle complex accounting processes for small- and medium-sized businesses as well as larger ones. The software makes it easy to pay bills, claim expenses, accept payments, track projects, manage contracts, store files and more.
Plans to suit your business
The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. Learn more about how we rate small-business accounting software. Xero, FreshBooks and QuickBooks all offer 30-day free trials and extensive features for understand nonprofit filing requirements online support, including a live chat, email support and a knowledge base.
- Xero is cloud-based accounting software that packs a real punch when it comes to features and functionality.
- 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.
- Run your business from anywhere with Xero’s easy accounting app.
- Xero has a reputation for some of the strongest cloud security out there.
- However, the best option and price point will depend on the specific capabilities and features you are looking for.
Guided setup process
You’re able to send 20 quotes and invoices per month, enter five bills, reconcile bank transactions, capture bills and receipts with Hubdoc and view a short-term cash flow and business snapshot. You can import data from another accounting system in bulk via CSV files once you’ve done the initial set up in Xero. That includes the chart of accounts, invoices, bills, contacts and fixed assets. For a smooth transition and best results, we recommend working girls basketball with an accountant or bookkeeper, preferably one with Xero experience, when you make the move to Xero cloud accounting software. Run your business from anywhere with Xero’s easy accounting app. Keep track of your unpaid and overdue invoices, bank account balances, profit and loss, cash flow and bills to pay.
Each plan still offers unlimited users and live bank feeds, so businesses can download, categorize, and reconcile their transactions as usual. The other appeal of the software was that each plan came with unlimited users, access to every Xero feature, and payroll. Xero helps transform the data you enter into actionable information at every subscription level.
