They’re visually set up much like the Sales section, so all bills are ordered in a list view so you can see each due date, who you owe money to, and more. The expenses section within Xero will allow you to manage your bills, purchase orders, and employee expense claim tracking, which includes a receipt analysis feature. You’ll also be able to accept payment via bank transfer or PayPal, and can connect any of your existing payment gateways through Xero’s open API. With Xero, you can accept credit card payments through Stripe, which charges 2.9% and 30 cents per transaction. Xero offers fewer payment options than a few similarly advanced competitors, but includes the basics that most accounting tools offer.
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This will allow you to keep a close eye on your inventory, ensure that you assign items to the proper sales or expense accounts, and more. Additionally, inventory management is going to be essential if you have a product-based business. This feature is helpful so you can track whether clients have successfully received their invoices.Īdding your company’s products and services will make it even easier to create invoices and send them within mere seconds. For example, each invoice has a history that tells you the dates the invoices were created, edited, sent to customers, and viewed by the customer. There are also many more nuances to Xero’s invoicing features than some more basic competitors offer. Xero’s invoicing feature is straightforward, and customers are pleased with its ease of use.
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#XERO ACCOUNTING SOFTWARE FOR SMALL BUSINESS PROFESSIONAL#
While invoices take a bit more work to set up than with simpler tools like FreshBooks and Wave, it’s still exceedingly easy to create and send professional invoices to your clients. Xero’s Sales tabs, within the "Business" section of the software, encompass outgoing invoices and your company’s inventory. While not the most aesthetically pleasing dashboard across accounting tools, it provides a practical, straightforward overview of your business. The dashboard lets you drill down into any section or line item, which will take you to that part of the software and give a more in-depth overview. Xero makes recommendations about which plan will be best for you based on your company’s size and growth. Xero pricing begins at $11 per month and costs up to $62 per month for the most advanced plan. Whether you’re a small service-based business or a medium-sized business with high transaction volume, you can make the platform work for your business. Graham noted that the platform works well to manage finances for companies across a range of industries, from startups to medium-sized businesses.Īll in all, Xero is one of the best accounting software tools on the market. Graham Davies, the founder of Addition Finance, utilizes Xero and finds it flexible, scalable, and valuable due to its open API and wide range of third-party software application integrations. We interviewed professional bookkeepers who utilize Xero for their bookkeeping and financial services, and they had overwhelmingly positive feedback about the software. Customers can also add payroll with Gusto starting at $39 per month. An added bonus is that Xero doesn’t put user limits on the plans, so you can have as many people using the software as you need. There are three plans to choose from, making for a relatively flexible pricing structure. Xero pricing begins at $11 per month and goes up to $62 per month. If there’s something you need that Xero doesn’t directly offer, you will almost certainly find a third-party solution in Xero’s extensive Marketplace. With Xero, you can connect bank accounts, accept payments online, send invoices directly to customers, keep financials up to date, track your company’s inventory, and more. Xero has all the features required to manage small and medium sized businesses across many different industries. Xero’s target audience is small and medium businesses, though they’ve recently begun emphasizing their scalability for larger businesses. With over 2.4 million customers globally, Xero is one of the most popular accounting software companies in the world. Xero is a cloud-based accounting software that was founded in 2006 and is currently headquartered in Wellington, New Zealand. We recommend Xero to all businesses due to its ease of use, extensive third-party application marketplace, and powerful accounting features.
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Because Xero is popular with accountants and bookkeepers while remaining user-friendly for business owners, the software is ideal for all parties. Xero is a moderately advanced accounting software that’s ideal for small and medium businesses within any industry.