The included mobile app is great for checking accounting reports or invoices on the go. And with time tracking as an option on higher plans, you can easily keep records of time spent on tasks. We like Xero for businesses with lots of employees, as they can take advantage of the unlimited number of collaborators. You can import data from other accounting software in bulk via CSV files once you’ve done some initial set up in Xero. That includes the chart of accounts, invoices, bills, contacts and fixed assets. We recommend working with an accountant electing s corporation status for a limited liability company or bookkeeper, preferably one with Xero experience, when you make the move to Xero online accounting software.
Is Xero Right for You or Your Business?
You can also scroll through Xero’s default chart of accounts and customize it as needed, or import an already existing chart of accounts. If you have a list of customers and suppliers, you can import that, too. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website.
Acquisitions and partnerships
Don’t forget about the multi-currency support, which lets you accept payments from international clients. Xero is a cloud-based accounting software product that’s easy to use and integrates with more than 1,000 apps. Check out the Xero App Store to find, try and buy business apps that connect easily to Xero online accounting software. Choose the best apps to make running your business even easier. Apps like Stripe, GoCardless, Shopify, and WorkflowMax connect seamlessly and sync data with Xero business accounting software.
Get set up faster
These include everything from data integration to point-of-sale programs. Popular options include apps such as Zapier, Gusto, 9Spokes, CollBox and Zynk Workflow. View the money coming in and out of your small business from the accounting app dashboard. See all your discuss the purpose of the cutoff bank statement in the audit invoices, contacts, balances, financial information and accounts online. Our partners cannot pay us to guarantee favorable reviews of their products or services. Easily create and send invoices and automate invoice reminders for a quicker, hassle free payment.
- Each month, Xero sends you a link to your subscription invoice with easy ways to pay for your accounting software.
- The Xero Accounting app is an additional way for your small business to access key features of Xero.
- You can enter five bills on the base plan, but this becomes unlimited on the higher plans.
- You can upgrade or downgrade your plan or cancel your subscription at any time with one month’s notice.
Better your cash flow
You can add Gusto payroll to any plan for an extra $40 per month, plus $6 per month per person. Includes project tracking tools in most expensive plan; has transaction tracking tags; lacks industry-specific reports; users with multiple businesses must pay for accounting errors and corrections separate subscriptions. Xero provides multiple layers of protection for the personal and financial information you entrust to Xero accounting software. Security is a priority for Xero, as we know it is for you, so it’s also important you also take steps to safeguard your data.
Each month, Xero sends you a link to your subscription invoice with easy ways to pay for your accounting software. You can pay it using Visa or Mastercard debit or credit cards, or by direct debit. The payment date depends on when you signed up to a pricing plan. You can upgrade or downgrade your plan or cancel your subscription at any time with one month’s notice. For the price, Xero is a powerful tool that can help you manage everything from inventory to file storage. It also integrates with over a thousand apps, meaning if you can’t find a native feature you need, you can likely add it on.
Business owners, freelancers and entrepreneurs often spend a large chunk of time on administration and accounting. Suited for small- and medium-sized businesses (SMBs), Xero is an affordable cloud-based accounting software system that streamlines these processes with plans starting at $13 per month. Neither software includes payroll—but you can add it on for a price. Xero partners with Gusto Payroll, and costs start at an additional $40 per month plus $6 per employee per month.
This is a serious drawback if you want to be able to pick up the phone and talk through an issue or are new to accounting software and have lots of questions. When reconciling books, Xero suggests likely matches between bank statement lines and transactions entered in the software. For example, if you have an entry for an invoice of $1,000 and a recent $1,000 deposit in your bank account, it might suggest matching these two transactions. Click the “OK” icon between the two to verify the match is correct.