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Mobile access: Using the Xero Accounting & Invoices app for iPhones and iPads, you can create and send quotes and invoices, attach documents to invoices, reconcile transactions, and get a real-time view of your cash flow.

Integrations are available if you have advanced inventory management needs. It can help you identify your bestselling and most profitable items, and you can create and email purchase orders directly from the software and then copy the data to generate bills for payment or invoices for customers.

Inventory: The software includes inventory management tools and can track items in real time, showing you how many products you have in stock when you’re creating an estimate, quote or invoice.

You can also set it up to reconcile transactions in bulk based on rules, eliminating the need to individually categorize transactions.

#Xero accounting software review how to#

The software’s smart reconciliation tool matches transactions and learns how to predict matches as you use this feature.

Bank reconciliations: When you connect your bank accounts to the system, Xero automatically imports bank and credit card transactions.

You can also schedule the system to automatically send recurring invoices and reminders so you don’t waste time chasing payments. If your business provides customers with quotes or estimates, you can convert them to invoices with just a few clicks.

Invoicing: You can send customers electronic invoices that they can pay online.

In addition to standard accounting capabilities, here are some of the timesaving features Xero offers: Xero meets this requirement by automating processes, making accounting tasks as easy as possible to accomplish. When we asked small business owners what the “perfect” accounting software should do, the resounding answer was that it should save you time.

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Pricing for Gusto starts at $39 per month, plus $6 per month per person. Xero no longer provides payroll services with its mid- and top-tier plans, but instead recommends adding Gusto to your plan. There are also no setup fees or hidden costs. The ability to cancel your plan at any time without penalty means you won’t be locked into a service for years, using software that doesn’t meet your needs or that you don’t like. You can change your plan to a cheaper or more expensive option to fit your business’s needs without incurring additional costs. There are no long-term contracts for Xero.

The Established plan costs $60 per month.It also has unlimited invoices, bills and bank transactions, and it supports multiple currencies, which is useful if you have an international clientele, and has expense management and project-tracking features.

The Growing plan costs $30 per month. It has unlimited invoices, bills and bank transactions.

The Early plan costs $9 per month. It’s limited to five invoices and quotes, five bills, and 20 bank transactions.

Here’s an overview of the subscription plans Xero offers: The exceptions are multiple currencies, expenses and projects, which are only included in the top plan. All plans include most features – even estimates, inventory tracking and recurrent invoicing.

Unlike accounting software programs that base pricing on the number of users each plan supports, all of Xero’s subscription plans support as many users as you wish to add, so as your business grows, you can add new employees to your account for no additional cost.

#Xero accounting software review trial#

Another nice thing about the trial is that it gives you the option of using a demo company in place of your own, in case you’d rather not take the time to import your data before you try it out.

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Xero has a 30-day free trial that allows you and your team to try out all its features before deciding if it’s the right online accounting software for your business. Also, most of its features are available on all of its plans, including inventory tracking, which is often only included in premium plans. If you have multiple users, Xero offers the best value for your money, as it supports an unlimited number of users for no extra cost.

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Visit our Best Accounting Software page to see the full list of recommendations. Although businesses start out small, things can change in short time, and Xero helps you prepare for the future by offering services that meet you wherever you’re at financially. That’s why Xero is our choice as the best accounting software for growing businesses. Xero’s plans and services are based on company growth. Companies evolve, and Xero caters to those changes. Xero’s flexibility with its features and plan options creates a space for businesses to grow comfortably.