Run your business accounting online with Xero. Easy to use accounting software, designed for your small business.
Xero is one of the most reliable & secure cloud-based accounting software solutions that provide everything that any business owner needs to manage their finances easily & efficiently.
Customer support
8.6
Value for money
9.1
Ease of use
9
Features
9.2
Pros
30-day free trial
Automatic bank feeds
Excellent customer support
User-friendly interface &
easy setup
Cons
Users need to pay an extra fee to a payroll processor such as Gusto
Multiple currencies only available with the premium plan
Do you need powerful & reliable online accounting software that will allow you to simplify, organize, and accelerate all of your accounting tasks? If so, then the Xero is what you need! This cloud-based accounting software offers everything that small businesses need to thrive worldwide, such as claim expenses, bank reconciliation, multi-currency, quotes, and much more.
But is this accounting platform right for your to do your to-do? In this Xero review, we will take a deep look at what Xero is and what are the pros & cons of using it to manage your finances. We will also show what key features and benefits it offers that make it one of the best online accounting solutions. So read on to find out if Xero is the right option for your business.
Click on “open” if you want to see exactly what we will talk about in the rest of this article.
Xero is one of the most reliable & secure cloud-based accounting software solutions that provide everything that any business owner needs to manage their finances easily & efficiently. Xero is trusted by millions of users globally and helps businesses save time, reduce costs and simplify day-to-day operations. Xero accounting software provides a comprehensive suite of features such as invoicing, expenses, payrolls, bank reconciliation, financial reporting, inventory management, and more. By leveraging the power of Xero’s cloud platform, businesses can access their data anytime, anywhere, with seamless integration with other business applications.
Xero also provides an interactive dashboard, allowing users to get a clear and concise overview of their financial situation in real-time. Xero is an immaculate and all-in-one solution for small businesses, accountants, freelancers, and bookkeepers scrutinizing to stay organized & on top of their finances. With Xero, you can easily connect to other apps commonly used by small businesses such as Stripe, PayPal, Capsule, HubSpot, and more to streamline workflows and synchronize data such as sales invoices, client data, cash flow reports, payroll data, and more.
Xero was founded in 2006 and has since become one of the leading accounting software solutions, with over 3 million subscribers around the world. It is currently headquartered in Wellington, New Zealand, with offices in Australia, the United Kingdom, the United States, and Canada. Xero is committed to helping small businesses succeed by providing them with modern and efficient tools. So if you want to scale your small business and make accounting easier, Xero is the perfect choice for you to go with and start organizing your finances today!
Xero offers three different pricing plans that are tailored to meet the needs of different types of businesses. The first subscription plan is the starter plan which costs $25 per month; it’s best for new businesses, sole traders, and the self-employed. Another is the standard plan costs $40 per month, perfect for growing small businesses. The final is a premium plan which costs $54 per month; this plan is ideal for established businesses of all sizes. Features that it offers with every plan include files, purchase orders, reporting, back connections, sales tax, and inventory.
When it comes to tracking and paying bills, it’s important to have the most up-to-date information and be able to review everything clearly, as cash flow is vital for any small business owner. Xero’s Track & Pay Bills feature allows you to stay on top of your business’s cash flow and quickly identify what bills are due. You can easily manage all accounts payable and get an overview of unpaid bills, expenses, and purchase orders, which means no more late fees or missed payments.
You can also set up repeat bills and replicate them from a supplier to quickly update details, as well as store all documents in one place for easy access. With this best accounting software, you can also email bills to your files inbox and organize them in folders, meaning you don’t have to worry about losing track of any important billing info that you need to stay on top of.
Manage Expenses Effortlessly
Expense management is one of the most crucial aspects of running a business, and Xero makes it effortless. With the expense manager feature in Xero, you can capture costs and submit expense claims, plus view spending in one place. The feature also includes tracking & recording mileage, automatically filling expense claims with receipt details, and submitting claims with one click.
This means that you can streamline the process and reimburse expenses quickly. Plus, you can get notified when a claim is submitted and monitor employee spending with real-time reporting to stay on top of your cash flow. You can even track & submit mileage and snap digital copies of receipts with the Xero mobile app. Like Quickbooks Online, Freshbooks, & Zoho Books, the expense management functionality of Xero is top-notch and will make your life much easier.
Bank Connections
Connecting your bank to Xero is simple and secure. Xero offers a complete solution for automatic bank feeds so you can get an accurate, up-to-date picture of your finances. You can set up multiple feeds from different bank accounts and import up to twelve months of historical data when you connect, so you’re always in the know. With Xero, you can easily categorize transactions each day and track your financial performance from a dashboard summary.
All transactions are securely imported through an encrypted connection between Xero and your bank, so you can trust that your data is safe. Plus, automated daily bank feeds make reconciliations a breeze because everything is up-to-date and accounted for that same business day.
Multi-Currency
Multi-currency is an essential feature for businesses looking to expand into international markets because it enables you to pay and get paid in different currencies. Xero’s multi-currency accounting can process transactions in over 160 currencies, giving you greater control and accuracy when dealing with foreign payments.
You can also set up foreign exchange bank accounts and bank feeds, track rate changes, and see how fluctuations in exchange rates affect your cash flow and profit to make informed decisions about your bookkeeping or other business.
With multi-currency, you can view gains and losses, as well as create foreign and local currency reports. You can also see account balances in the profit and loss report and the balance sheet, view any transaction, invoice, or bill in a foreign currency, or get a report showing the balances of active currencies in foreign and local currency.
This gives you greater insight into how your business is performing and how changes in currency affect your bottom line. With this ease of use& minor learning curve, Xero makes it easy to stay on top of your international accounting.
Analytics
Analytics is a way of using data and statistical methods to gain insights and an understanding of your business. With Xero Analytics, you can see future projections and make data-driven decisions to improve your business performance. This project management software helps you to identify areas of improvement, track performance, and analyze trends in different areas of your business to gain valuable business intelligence on your financial health, cash flow, and overall performance.
It also enables you to run reports, compare trends over different time periods, and get an overview of your financial performance at a glance. If you want to thrive and stay ahead of the competition, you can upgrade to Xero Analytics Plus, which allows you to access deeper insights and customization and make informed decisions using AI-powered predictions.
Plus, you can see up to 90 days in the future, manage future events with basic scenario planning, and more. Simply put, with Xero Analytics, you have the power to take control of your finances like never before!
Xero is a feature-rich online accounting platform that enables you to manage your finances with great accuracy, efficiency, and ease. For small businesses who want to scale up and stay ahead of the competition, Xero is the only solution that can take you to the next level.
With this entirely cloud-based accounting software, small business owners can keep on top of their finances and make the most out of every financial opportunity without any roadblocks. So why wait? Sign up for the 30-day free trial now and start your financial journey with Xero.
Absolutely yes! Xero is an incredibly useful and easy-to-use online accounting software for small businesses. With this all-in-one platform, you can easily keep track of your accounts, create invoices and quotes, run detailed reports, process credit card payments, and much more.
What are the benefits of using Xero?
Using Xero online accounting software helps small business owners save time and money. It eliminates the need to manually input data, letting them focus on their core business activities. It can also help them stay organized by automatically recording financial transactions, tracking spending, and reconciling accounts so that their financials are up to date.
