Xero has been known for offering discounts in the past, so be sure to check the company’s website to see if it’s having a sale. There are no annual contracts, so you can cancel your subscription at any time (although you must give a 30-day notice of your cancellation). Review and match bank transactions over your morning coffee or in any free moment using the accounting app so your bookkeeping is always up to date. Xero may be harder to learn than a simpler invoicing platform like Square Invoices or Zoho Invoice. However, it’s generally considered easier than QuickBooks Online.

Features that automate your admin

Xero does offer payroll features, but availability varies by country and region due to different payroll regulations. Learn how we stay transparent, read our review methodology, and tell us about any tools we missed. Xero has a reputation for some of the strongest cloud security out there. Security measures include data encryption, two-step authentication, and 24/7 monitoring at multiple locations.

Best Accounting Software for Small Businesses of 2024

1. Each plan still offers unlimited users and live bank feeds, so businesses can download, categorize, and reconcile their transactions as usual.
2. The tool also lets you adjust the time frame to see how your business has changed over time.
3. While resources like webinars and forums are available, the response time for queries, especially those handled via email, can be longer than desired, leading to delays in resolving pressing matters.
4. The software organizes financial information efficiently, but mastering full utilization of its reporting features can take time.
5. Here’s a deep dive into Xero features, best use cases, pricing, customer support, and other purchase factors.

With an overall score of 4/5 in this review, Xero is a good solution for mid-to-large-sized businesses in need of strong accounting features and multiple users. Take advantage of Xero’s free trial to see if this accounting solution is right for you. If you’re still on the fence, check out our picks for the best small business accounting software to compare your options. employment law 101 It provides a comprehensive view of a company’s cash flow by presenting upcoming bills and outstanding invoices in a clear, tabular format. Whether you have its basic or most advanced plan, the Xero app supports unlimited users for real-time collaboration between your employees, accountants, and financial advisors.

This can be added to a Growing or Established plan for $39/month. If you’re a beginning, Xero has a whole set of videos available to help teach you the software. I recommend using this software probably as much as QBO, Wave, and Kashoo. I think Xero has a lot of power and flexibility, which gives it a bigger learning stockholders equity calculator curve to get used to the features available. I recommend finding a bookkeeper who is experienced who can show you the ropes. As on desktop, you can then choose to save the invoice as a draft, approve it, or send it via email.

Run your small business quickbooks for contractors from anywhere and remain productive in otherwise unproductive moments with the Xero bookkeeping and accounting app for small business. Wave is a solid choice for small businesses looking for free accounting software. Today’s leading accounting platforms offer standard security features like data encryption, secure credential tokenization and more.

Company

Includes project tracking tools in most expensive plan; has transaction tracking tags; lacks industry-specific reports; users with multiple businesses must pay for separate subscriptions. Xero’s accounting software is highly rated among small businesses. Read our 2024 Xero review to find out if it’s the right solution for your business.

Useful features to run your business

In my assessment, Xero fits like a glove for small to medium-sized businesses that need a robust, comprehensive financial tool. Particularly, industries that deal with multiple client transactions, like retail or professional services, find immense value in Xero’s invoicing and real-time cash flow visibility. Due to its scalability and cost-effectiveness, Xero is a great choice for growing businesses.

Zoho, for example, is accounting software with a free invoice platform that allows you to bill in multiple currencies. All three plans come with an optional add-on for payroll with Gusto for $40 per month plus $6 per month per person. Xero includes extensive features that make it suitable to handle complex accounting processes for small- and medium-sized businesses as well as larger ones. The software makes it easy to pay bills, claim expenses, accept payments, track projects, manage contracts, store files and more.