Online Accounting Software for Your Small Business

To accept payments from clients, Xero allows you to connect to payment services without any monthly subscription. Your clients can make online payments using debit cards, direct debit using GoCardless, credit cards, and Apple Pay or Google Pay using Stripe. You can stay worry-free as Xero uses encryption and strong security measures to protect you against fraud. Xero’s key features include online invoicing, project tracking, bill payment, expense claims, and more. However, it has limited customer service and an outdated interface in some areas.

Can I pay for Xero annually?

Get to know your finances with accurate, daily figures when you’re accounting online with Xero. This is not an offer to, or implied offer, or a solicitation to, buy or sell any securities. Brex Treasury LLC does not provide legal, tax, or investment advice.

Apps like Stripe, GoCardless, Vend, and Shopify connect seamlessly and sync your data with Xero to make it easier to run your business. All pricing plans cover the accounting essentials, with room to grow. Connect Xero to apps, integrations, and financial services to make it easier to run your small business. Accounting, payroll and forecasting tools for employing businesses.

Xero provides real-time stock tracking with automated reorder notifications when levels run low. The platform integrates inventory data directly into invoices and purchase orders, maintaining accurate stock counts and valuations. Users can monitor stock movements, track costs, and generate inventory reports to optimize stock levels and purchasing decisions.

Multiple Payment Options

Xero doesn’t have its own payroll functionality, so if you have employees to pay, you must integrate Xero with the payroll provider Gusto. While having separate apps can be nice for staying organized, I feel this can make things unnecessarily complicated—though I understand the need for a separate employee self-service app. However, I was somewhat disappointed when I clicked onto the “Chart of accounts” page. Purchase any Xero plan, and we will give you the first month free.

Invoicing and jobs apps

The platform streamlines financial operations through automated bookkeeping and accounting processes, building upon a robust foundation of essential features. These include a structured chart of accounts, an integrated general ledger, and comprehensive financial reporting accessible through a customizable dashboard. Daily operations are simplified through automated bank reconciliation and intuitive cash flow management tools, while Hubdoc integration streamlines document handling for bills and receipts.

Bank reconciliation

I think Xero is an affordable online accounting software that can work well for businesses of all sizes. I was pleasantly surprised by the advanced general ledger features and user-friendly invoicing and project management functions. Xero doesn’t offer built-in employee time tracking as part of its software. It does have project time tracking to help businesses understand how time is being spent on various tasks and ensure projects stay on budget and on schedule. Once you’ve tracked the time spent on a project, you can automatically generate invoices based on that tracked time, making the process much more efficient. This reduced functionality is to be expected with most mobile accounting apps, including FreshBooks’ and QuickBooks’ mobile apps.

Sign up to any Xero plan, and we will give you the first month free. Learn how our spend platform can increase the strategic impact of your finance team and future-proof your company. It allows you to work with your colleagues, clients, and other stakeholders in a collaborative workspace by inviting them. While this response time is excellent, I wish Xero hosted these conversations in a live chat environment with easier back-and-forth messaging. Unfortunately, this report is available only with the Analytics Plus add-on under the Established plan. The “Contacts” section centralizes key information for customers and suppliers.

• Get a full understanding of how your business is doing with a range of reports, including balance sheets.
• I found Xero impressive due to its advanced general ledger controls and easy invoicing and billing, which can be handled directly from the software.
• Financial teams gain the ability to generate instant expense reports, maintain detailed audit trails, and make more informed decisions with comprehensive, up-to-date financial data.
• Improve your financial planning by knowing exactly how much cash you’ve got, so you can time purchases to perfection.
• Find apps built for your industry, business type, and tasks – and build your perfect ERP system.

Keep on top of your cash flow

• In an era when data-driven decision-making is more important than ever, traditional accounting workflows mired in spreadsheets and paper-based expense management processes are increasingly falling short.
• Reconciliation is straightforward with tools that suggest matches for transactions and allow for the setup of rules to handle recurring entries.
• I’ve tested the features of Xero software to see how they function.
• That said, I did have to Google answers for some pretty straightforward tasks—for example, integrating with Gusto and finding the customer support portal—which I’ll discuss more in later sections.
• Paperless record-keeping is also feasible by emailing bills to the file’s inbox.

Easily create invoices and offer your customers popular ways to pay you online. From streamlined bank connections to intuitive online invoicing, Xero’s features empower you to prioritize business growth. Reproduction of this website, in whole or in part, is strictly prohibited. This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with).

Take control of your financial admin with Xero online accounting software. Send online invoices, reconcile your bank transactions with the help of Xero’s automation features, and run quick reports for fresh insights into your business. The interface is thoughtfully designed to cater to both accounting professionals and those new to financial management. With a clean layout, intuitive navigation menus, and clearly labeled features, users can easily locate the tools they need. Whether it’s creating invoices, reconciling transactions, or generating reports, the platform simplifies complex processes into straightforward steps.

Whether managing multiple accounts or importing historical data, these xero software tools streamline financial management and reduce manual effort. Check out the Xero App Store to find, try and buy business apps that connect easily to Xero online accounting software. Apps like Stripe, GoCardless, Shopify, and WorkflowMax connect seamlessly and sync data with Xero business accounting software.

Its customer support is limited to a single, email-based channel, and parts of its interface feel outdated. For businesses seeking employee management features like time tracking or communication, Xero’s integration with Connecteam offers a powerful solution. Connecteam streamlines time tracking and workforce communication, bridging the gap and enhancing Xero’s capabilities. With your accounting and bookkeeping software and data stored in the cloud, you can access your up-to-date accounts anywhere there’s an internet connection. You can receive automated bank feeds into your accounting software and connect to other business apps for greater efficiency.