However, it’s generally considered easier than QuickBooks Online. Given that there are several invoicing software on the market, it’s worth putting in some time to research your options before choosing one for your business. The new plans are available from 1 July 2024 and Payroll Only, Starter, Standard and Premium plans will no longer be sold. †Invoice limits for the Ignite plan apply to both approving and sending invoices.
Automated features to save you time
Manage your cash flow, track expenses, accept payments online, and much more – all without leaving Xero. Xero integrates with payroll, payment processors, and third-party tools like Zapier, which adds flexibility. The interface is user-friendly, and security features like multi-factor authentication ensure data protection. However, larger enterprises or businesses needing industry-specific accounting real estate cash flow features may require more specialized software.
- This is beneficial to small businesses that need multiple people to be able to log into the accounting software and don’t want to pay extra or upgrade to get more seats.
- 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 $20 per month.
- Additionally, you can opt in to two-factor authentication to make your login more secure.
- Additionally, customer support has gone downhill since our last review.
Xero Plans & Pricing Tiers
Popular options include apps such as Zapier, Gusto, 9Spokes, CollBox and Zynk Workflow. You can enter five bills on the base plan, but this becomes unlimited on the higher plans. Entering these bills is easy thanks to receipt capture with Hubdoc. This helps you see when all your bills are due and schedule batch payments accordingly. Xero offers this through Hubdoc so you can access fixed assets your documents online.
Why small businesses prefer Xero
However, compared to competitors we reviewed, Xero excels at presenting information in an easy-to-understand way. For example, Xero’s cash flow bar chart displays cash going out of the company as a gray line and cash coming in as a blue line. A business owner trying to maintain positive cash flow would look for the blue line to remain above the gray line (see the screenshot below for an example). Security safeguards are included across all tiers, ensuring data protection for all businesses. Overall, these features make Xero a balanced choice for companies seeking a reliable and feature-rich accounting solution at a low cost. Xero is generally considered to offer average pricing in the accounting software market.
- I placed greater emphasis on features like assigning project estimates, tracking labor costs, and recording inventory used in projects—and Xero delivered on all fronts.
- MFA extra layer of security by checking that it’s really you when you log in.
- QuickBooks Online is limited to 25 users on its most expensive plan but is easier to use, offers tax support, and has stronger mobile apps.
- In the battle of Xero vs. Sage, both come out on top for different uses.
- There are a number of alternative accounting software programs that can offer powerful features and a user-friendly interface.
- For most customers, Xero’s direct bank feeds are available at no additional cost.
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. FreshBooks provides software solutions to small enterprises, freelancers, solopreneurs, and organizations that depend on contractors. It provides many essential functions, such as QuickBooks, without tier-based restrictions and additional expenses.
Track stock levels and control orders directly through Xero, which is ideal for businesses managing product inventory. Track and manage expenses with tools to capture receipts and create claims easily. Our partners cannot pay us to guarantee favorable reviews of their products or services. Choosing the right plan ensures you always have access to the tools you need for the cost you want. However, if you’re looking to switch from one program to another, you may be able to download your data and migrate it into the new software. Katherine Haan is a small business owner with nearly two what is xero decades of experience helping other business owners increase their incomes.
- The last significant change occurred when Xero adjusted its pricing to reflect additional features and enhancements.
- Xero also uses Stripe as well as GoCardless, so it can take ACH debit payments as well.
- QuickBooks is available both online and via desktop and is ideal for businesses that outsource their accounting tasks to a bookkeeper or accountant.
- The Online plans start at $35 per month while the only current Desktop version, Enterprise, must be paid annually and start at $1,922 per year.
- However, the best option and price point will depend on the specific capabilities and features you are looking for.
- We think this new system will prove particularly useful for larger businesses with a big e-commerce presence.
Key features of Xero
Hubdoc is included in Xero Starter, Standard and Premium plans as long as it’s connected to your Xero subscription. Xero occasionally offers discounts or promotions, such as reduced rates for the first few months or special pricing for educational institutions and non-profits. Users can access these promotions by checking Xero’s website or contacting their sales team for current offers. It’s advisable to inquire directly with Xero for the most up-to-date information on available promotions.