Xero helps transform the data you enter into actionable information at every subscription level. A dashboard provides a summary of your business’s financial health, including total cash in and out, outstanding invoices and overdue bills. Another page dedicated to short-term cash flow charts out how future bills and invoices can affect your bank balance over the next week or month.
Features that automate your admin
FreshBooks charges $17 per month and QuickBooks charges $30 per month). However, the best option and price point will depend on the specific capabilities and features you are looking for. Check out the Xero App Store to find, demo, and buy business apps that connect to Xero. Apps like Stripe, GoCardless, Vend, and Shopify connect seamlessly and sync your data with Xero to make it easier to run your business. But it’s in the 15th century that the roots of modern bookkeeping can be found.
Each plan still offers unlimited users and live bank feeds, so businesses can download, categorize, and reconcile their transactions as usual. With Xero, you can add an unlimited number of users to your account at each subscription level. This is a notable feature for accounting software; often, lower-tier plans allow fewer users while only higher-tier plans allow unlimited users. After you start a free 30-day trial of Xero, you’ll activate the account and provide details about your business. Then, you can connect your bank accounts to Xero and decide if you’ll accept electronic payments for online invoices.
Popular features
Keep track of your unpaid and overdue invoices, bank account balances, profit and loss, cash flow, and bills to pay. You can also reconcile bank accounts and convert quotes to invoices. The mobile app is free with every subscription, and is compatible with iOS and Android. Xero is a cloud-based accounting software product that’s easy to use and integrates with more than 1,000 apps. Xero has pricing plans to suit your business, no matter its size or stage. Xero accounting and bookkeeping partners can also offer basic plans to clients who just need the essentials.
Still, Xero’s feature set is strong, leading to our rating of 4.1/5. This can be subscription billing vs one added to a Growing or Established plan for $39/month. Zoho Books’ paid plans all come with free live chat and phone support. Find out what bookkeepers do, and get an intro to double-entry bookkeeping. There are professional associations that can provide bookkeeping training and certification. Refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain our independent editorial integrity.
- Still, Xero’s feature set is strong, leading to our rating of 4.1/5.
- Today’s leading accounting platforms offer standard security features like data encryption, secure credential tokenization and more.
- These companies offer Gusto integration for the same price—$40 per month and $6 per month per person.
- Bookkeeping is the practice of recording and tracking the financial transactions of a business.
All pricing plans cover the accounting essentials, with room to grow. Xero’s bank feed securely imports your transactions into the Xero accounting software each business day. 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 and QuickBooks Online have a lot of similarities, as both have strong features and numerous integrations.
The difference between bookkeeping and accounting
We deliver timely updates, interesting insights, and exclusive promos to your inbox. Use Gusto payroll to calculate pay and deductions, pay employees, simplify compliance, and update the Xero accounts. Sage 50 Accounting’s Cash Flow Manager tool is a helpful feature for people who want to better understand how future transactions could impact their business. The tool also lets you adjust the time frame to see how your business has changed over time. Instead, customers can visit the Xero Central support site or raise a case online. A representative typically responds to a case within a few hours.
Some Xero integrations are country-specific, so make sure they are compatible before you make any additions or purchases. Xero no longer offers built-in payroll, but it does integrate with Gusto Payroll. †Invoice limits for the Early plan apply to both approving and sending invoices.