We also have a comprehensive and free How To Set Up Your is accounts payable an asset or a liability Xero Account guide that teaches you how to use and optimize your Xero account. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. Xero is a good choice for you if you are looking for easy-to-use, affordable accounting software that is designed to grow alongside your small business. Business owners on Xero’s Growing or Established plans can purchase Inventory Plus for an additional $39/month. You can use Xero’s demo company to create sample invoices using fictional data.
Negative Xero Reviews & Complaints
- You’ll be able to see and reconcile your Gusto payroll transactions in Xero and easily jump into Gusto from the Gusto payroll menu tab in Xero.
- 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.
- 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.
Xero offers an affordable range of plans for businesses of all sizes, with its Early plan starting at just $15/month. However, you do have to sign up for a free trial or pay for a plan in order to contact Xero. While Xero does provide email addresses for media contacts and mailing addresses for its physical offices, it doesn’t have a phone number or email address for potential customers. Xero customers can get 24/7 online support via Xero Central, direct vs indirect costs Xero’s learning and support hub. Xero Central provides users with access to articles, courses, community discussions, and more. For businesses that have larger amounts of stock, do business via an eCommerce channel, or operate with negative inventory, Xero offers Inventory Plus –a full-service inventory management system.
Contact Management
You can even limit who can see the company’s complete financial picture. FreshBooks is another one of our favorites for small businesses — especially freelancers. It has unlimited customizable invoices, a client portal, built-in project and time tracking and a highly rated mobile app. FreshBooks has a deal running where you can save 50% for the next six months. Xero is a cloud-based accounting software product that’s easy to use and integrates with more than 1,000 apps. The mobile app works with Xero accounting software to help you run your small business from anywhere.
Xero’s bank feed securely imports your transactions into the Xero accounting software each business day. Xero’s accounting software is highly rated among small businesses. Read our 2024 Xero review to find out if it’s the right solution for your business. Xero no longer offers built-in payroll, but it does integrate with Gusto Payroll.
Start using Xero for free
I recommend using this software probably as much as QBO, Wave, and Kashoo. I think Xero has a lot of power and flexibility, which gives it a bigger learning curve to get used to the features available. I recommend finding a bookkeeper who is experienced who can show you the ropes. As on desktop, you can then choose to save the invoice as a draft, approve it, or send it via email. We liked that Xero gives you the option to attach files and preview the final look of your invoice at any point in the process.
Xero Review
There are three monthly plans so you can start small and scale up to a more robust plan as your business grows. Many of the more advanced features are reserved for the most expensive plan. Xero’s best features, such as the expense management and multi-currency support feature, are only available if you opt for the Established plan. The cheapest monthly plan also has a limit on how many invoices you can send and bills you can create. Although Xero offers only one invoice template, you can customize that invoice extensively.
Gusto’s payroll plans for small businesses start at $40/month, plus $6/month per person. Online accounting needs to be easy to use, otherwise it loses its time-saving appeal. One how many years can you file back taxes of the biggest benefits of Xero’s accounting software is its simplicity.
Instead, customers can visit the Xero Central support site or raise a case online. 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. Plans are affordable, starting at $13 per month, but no free plan.
You can use all Xero’s features, like invoicing, accepting payments and reporting, and add-ons like Xero Projects and Xero Expenses. Use the demo company to explore Xero’s features, or enter your own business details and data to try it out for real. Xero retains everything you’ve entered when you transfer from a free trial to a subscription. Xero is a great option for large teams and small- to medium-sized businesses that need high-level accounting systems.
If you’re on a tight budget, then check out Wave Accounting, which offers a forever free Starter plan — yes, you read that correctly! 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. 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 offers a free 30-day trial and even has a demo company set up already, so you can explore the software before you buy it.