Amazon Sellers love Xero accounting. See if Xero is right for your business in our review.
Owners, freelancers, and entrepreneurs spend a lot of time on administration and accounting. Xero’s £13-per-month cloud-based accounting software streamlines these processes for small and medium-sized businesses.
- Pricing Structure suits all budgets
- 30 Day Trial
- In-Depth tutorials
- Unlimited User & Client accounts
- Invoices limited at 20 Per Month
Price: From £13 per month
Are you a small business owner looking to simplify your accounting tasks? Look no further than Xero. This cloud-based accounting software uses AI and other automated tools to streamline invoicing, reporting, and financial management.
Recent updates have made it an excellent choice for small businesses looking to save time and increase efficiency.
Xero’s pricing starts at just £10 per month, making it an affordable option for businesses of all sizes. With unlimited users on all plans, you can give your entire team access to the platform and collaborate in real-time.
Plus, Xero offers project and time tracking, basic accounting and financial reporting, and Hubdoc document scanning, making it a comprehensive solution for all your accounting needs. In this Xero review, we’ll take a closer look at the features, pricing, and benefits of this powerful accounting software.
Xero Review
Overview
Xero is a cloud-based accounting software designed to make accounting simple for small businesses. With Xero, you can manage your bank transactions, invoices, expenses, payroll, and more from anywhere with an internet connection. Xero offers online support, making it easy to get help when you need it.
Features
Xero offers a variety of features to help small businesses manage their finances. Some of the key features include:
- Bank transactions: Xero automatically imports bank transactions, making it easy to reconcile your accounts.
- Invoices: Create and send professional invoices, and get paid faster with online payment options.
- Expenses: Track expenses and receipts, and submit expense claims on the go.
- Payroll: Xero offers payroll functionality, including automatic tax calculations and filing.
- Reports: Get real-time financial reports, including profit and loss statements and balance sheets.
- Integrations: Xero integrates with over 1,000 apps, including popular tools like Shopify and PayPal.
- Mobile app: Manage your finances on the go with Xero’s mobile app.
- Customizable: Xero is fully customizable, so you can tailor it to your business’s needs.
- Inventory management: Keep track of your inventory with Xero’s inventory management tools.
Pricing
Xero offers three pricing plans: Starter, Standard, and Premium. The Starter plan is £5 per month and allows for 5 invoices and quotes, 5 bills, and reconciliation of 20 bank transactions. The Standard plan is £12 per month and allows for unlimited invoices and quotes, bills, and bank transactions. The Premium plan is £24 per month and includes additional features like multi-currency support and expenses management.
Overall, Xero is a great choice for small businesses looking for a simple and customizable accounting software. With its online support, mobile app, and integrations, Xero makes it easy to manage your finances from anywhere.
Ease of Use
Xero is a user-friendly accounting software that simplifies the accounting process for small businesses. The platform is easy to navigate and has an intuitive design that makes it easy for users to locate the features they need.
The dashboard is customizable, allowing users to add or remove features according to their preferences. This feature enables users to create a personalized dashboard that displays only the most relevant information.
Xero’s mobile app is also easy to use, allowing users to access their accounts from anywhere. The mobile app provides users with the same functionality as the desktop version, making it easy to manage finances on the go.
Online support is available to users, making it easy to get help when needed. The support team is responsive and knowledgeable, ensuring that users get the assistance they need to resolve any issues they encounter.
In summary, Xero is an easy-to-use accounting software that simplifies the accounting process for small businesses. The platform is customizable, has an intuitive design, and provides users with access to online support. These features make Xero an excellent choice for small businesses looking for a user-friendly accounting solution.
Invoicing and Billing
Xero offers a robust invoicing and billing system that makes it easy for businesses to create and send invoices to their customers. With Xero, you can create professional-looking invoices in minutes, customise them with your branding, and send them to your customers via email.
Xero’s invoicing system also allows you to set up recurring invoices, which can save you time and effort in the long run. You can choose to send recurring invoices daily, weekly, monthly, or annually, depending on your needs.
In addition to invoicing, Xero also offers a billing system that allows you to easily manage your bills and payments. You can create bills in Xero, track their payment status, and even set up automatic payment reminders to ensure that you get paid on time.
Xero also offers a quotes feature, which allows you to create quotes for your customers and convert them into invoices when they accept the quote. This can be a useful feature for businesses that offer services or products that require a quote before work can begin.
Xero’s invoicing and billing system also integrates seamlessly with its project management and customer support features. You can create invoices for specific projects, track time and expenses, and even bill customers for expenses incurred on their behalf.
Overall, Xero’s invoicing and billing system is a powerful tool that can help businesses streamline their invoicing and billing processes, save time, and get paid faster.
Expenses and Purchases
Xero makes it easy to manage your expenses and purchases. With its intuitive interface and powerful features, you can easily track your bills, purchase orders, and inventory, as well as manage your suppliers and items.
Expenses
With Xero, you can easily track your expenses and categorise them for better reporting. You can also attach receipts to your expenses, making it easy to keep track of your spending and ensure that you have all the necessary documentation come tax time.
Purchases
Xero also makes it easy to manage your purchases. You can easily create and track purchase orders, as well as manage your inventory and suppliers. With Xero’s inventory tracking features, you can easily keep track of your stock levels and ensure that you never run out of essential items.
Bills
Xero’s bill management features make it easy to manage your bills and ensure that you never miss a payment. You can easily create and track bills, as well as set up automatic payment reminders to ensure that you always pay your bills on time.
Purchase Orders
Xero’s purchase order management features make it easy to create and track purchase orders, as well as manage your inventory and suppliers. With Xero’s purchase order tracking features, you can easily keep track of your orders and ensure that you receive everything you need in a timely manner.
Inventory Tracking
Xero’s inventory tracking features make it easy to keep track of your stock levels and ensure that you never run out of essential items. With Xero’s inventory tracking features, you can easily track your stock levels, set up automatic reordering, and manage your suppliers and items.
Suppliers
Xero’s supplier management features make it easy to manage your suppliers and ensure that you always have everything you need. With Xero’s supplier management features, you can easily track your suppliers, manage your purchase orders, and ensure that you receive everything you need in a timely manner.
Items
Xero’s item management features make it easy to manage your items and ensure that you always have everything you need. With Xero’s item management features, you can easily track your items, manage your inventory, and ensure that you always have the right stock levels.
Payroll and Employees
One of the standout features of Xero is its payroll functionality. With Xero, you can run your payroll and pay your employees all in one place. Xero also integrates with Gusto Payroll, making it easy to manage your employees’ pay and benefits.
Xero’s payroll system is easy to use and offers a range of features to help you manage your employees’ pay. You can set up new employees, manage their pay rates and deductions, and even automate your payroll runs. Xero also offers a range of reports to help you keep track of your payroll expenses.
In addition to payroll, Xero also makes it easy to manage employee expense claims. With Xero, your employees can submit expense claims directly from their mobile devices, and you can approve or reject them with just a few clicks. Xero also integrates with a range of expense management apps, making it even easier to manage your employee expenses.
Overall, Xero’s payroll and employee management features make it a great choice for small businesses looking for an all-in-one accounting solution. With its easy-to-use payroll system and range of employee management features, Xero can help you save time and streamline your accounting processes.
Reports and Analytics
Xero offers a range of reporting options to help you keep track of your finances and make informed decisions. With Xero, you can generate financial reports, custom reports, and management reports with just a few clicks.
The financial reports available in Xero include profit and loss statements, balance sheets, and cash flow statements. These reports are essential for understanding the financial health of your business and tracking your performance over time. You can also create custom reports to track specific metrics or KPIs that are important to your business.
Xero also offers advanced analytics capabilities through its Analytics Plus feature. Analytics Plus uses predictive algorithms to provide you with actionable insights and help you make data-driven decisions. The dashboards are clean, simple, and easy to use, making it easy to understand your performance and identify areas for improvement.
In addition to financial reports and analytics, Xero also offers project tracking tools to help you manage your projects and track your progress. With Xero’s project tracking tools, you can easily track time, expenses, and profitability for each project, giving you a clear picture of your performance and helping you identify areas for improvement.
Overall, Xero’s reporting and analytics capabilities make it easy to track your financial performance, identify areas for improvement, and make data-driven decisions. Whether you’re a small business owner or a finance professional, Xero has the tools you need to stay on top of your finances and achieve your business goals.
Integrations
One of the key strengths of Xero is its ability to integrate with a wide range of other software applications, making it a versatile tool for small business accounting. Here are some of the most notable integrations:
Hubdoc
Hubdoc is a document management tool that can automatically fetch and upload bills and receipts to Xero. This feature saves small business owners a lot of time, as they no longer have to manually enter data into Xero. Hubdoc also extracts key information from documents, such as vendor name, date, and amount, and automatically creates corresponding transactions in Xero.
Zoho Books
Zoho Books is a cloud-based accounting software that is similar to Xero in many ways. One key advantage of Zoho Books is its integration with Zoho CRM, which allows businesses to manage their sales and accounting data in one place. Zoho Books can also integrate with other popular apps such as Stripe, Shopify, and PayPal.
Stripe
Stripe is a payment processing platform that can be integrated with Xero to automatically import sales data and reconcile payments. This integration makes it easy for businesses to track their income and expenses, and ensure that their financial records are accurate and up-to-date.
CSV
Xero also allows users to import data from CSV files, which can be useful for businesses that need to import data from other accounting software or spreadsheets. The CSV import feature is easy to use and can save businesses a lot of time when setting up their accounts in Xero.
Overall, Xero’s integration capabilities make it a powerful tool for small business accounting. By connecting Xero with other software applications, businesses can streamline their accounting processes and gain valuable insights into their financial performance.
Pricing
One of the most attractive features of Xero is its affordability. Xero offers three plans: Early, Growing, and Established. Each plan comes with different features and pricing, so you can choose the one that best suits your business needs.
The Early plan costs $13 per month and includes five invoices and quotes, five bills, and reconciliation of 20 bank transactions. This plan is perfect for small businesses that are just starting and don’t need many features.
The Growing plan costs $37 per month and includes unlimited invoices, quotes, and bills, and reconciliation of an unlimited number of bank transactions. This plan is best for growing businesses that need more features and want to manage their finances more efficiently.
The Established plan costs $62 per month and includes all the features of the Growing plan, plus multi-currency support, project management, and expense claims. This plan is perfect for established businesses that need advanced features to manage their finances.
Xero offers a 30-day free trial for all its plans, so you can try out the software before committing to a plan. The free trial is a great way to test the software and see if it meets your business needs.
In conclusion, Xero offers affordable plans that are perfect for businesses of all sizes. With a 30-day free trial, you can try out the software and see if it’s right for your business.
Alternatives
While Xero is a great accounting software, it’s not the only option out there. Here are some of the best alternatives that you may want to consider:
QuickBooks
QuickBooks is one of the most popular accounting software programs on the market. It’s been around for a long time and has a lot of features that can help you manage your finances. QuickBooks is available in both desktop and online versions, and it’s a good choice for businesses of all sizes.
QuickBooks Online
QuickBooks Online is the cloud-based version of QuickBooks. It’s designed for small businesses and freelancers who need a simple, easy-to-use accounting solution. QuickBooks Online is very affordable, and it offers a lot of features that can help you manage your finances.
Zoho
Zoho is another popular accounting software program. It’s a cloud-based solution that’s designed for small businesses. Zoho offers a lot of features, including invoicing, expense tracking, and project management. It’s also very affordable, making it a good choice for businesses on a budget.
FreshBooks
FreshBooks is a cloud-based accounting software program that’s designed for small businesses and freelancers. It’s very easy to use, and it offers a lot of features that can help you manage your finances. FreshBooks is also very affordable, making it a good choice for businesses on a budget.
Wave
Wave is a free accounting software program that’s designed for small businesses and freelancers. It’s very easy to use, and it offers a lot of features that can help you manage your finances. Wave is a good choice for businesses that are just starting out and don’t have a lot of money to spend on accounting software.
Overall, there are a lot of great alternatives to Xero. Whether you choose QuickBooks, Zoho, FreshBooks, Wave, or another accounting software program, make sure you choose one that meets your needs and fits your budget.
Conclusion
In conclusion, Xero is a top-notch cloud-based accounting software that is perfect for small businesses, sole proprietors, and solopreneurs. Its double-entry accounting system ensures accurate and reliable financial reporting, while its multi-currency support makes it scalable for businesses operating in multiple countries.
Xero’s user-friendly interface and intuitive design make it easy for anyone to use, regardless of their accounting experience. With features like automated bank feeds, invoicing, expense management, and project tracking, Xero streamlines accounting processes and saves time for business owners.
Overall, Xero is a powerful accounting tool that is perfect for businesses of all sizes. Its scalability, multi-currency support, and intuitive design make it a must-have for anyone looking to simplify their accounting processes and improve their financial reporting.
