You can also collaborate with other people, like accountants and bookkeepers, by giving them access to view and share your figures. Xero regularly backs up your data and protects it with multiple layers of security. Xero is conventional cash flow overview formula example powerful online accounting software for US small businesses.

1. Use the Xero accounting and bookkeeping app to create and send online invoices in seconds to help maintain a steady flow of cash into the business.
2. You can receive automated bank feeds into your accounting software and connect to other business apps for greater efficiency.
3. Xero, FreshBooks and QuickBooks all offer 30-day free trials and extensive features for online support, including a live chat, email support and a knowledge base.
4. Overall, Xero has a set of features that easily rival competitors like QuickBooks Online.
5. FreshBooks, NetSuite, QuickBooks Online, Odoo, Xero, and Intacct.

Xero prioritizes data security with multiple layers of protection, including industry-standard data encryption. By providing feedback on how we can improve, you can earn gift cards and get early access to new features. If you use the Established plan, you can track billable time to add to projects.

Best POS Systems For Small Business In 2024

Yes, Xero offers a mobile app, available for both iOS and Android, enabling access to financial data on the go. It’s equally suited for businesses expanding internationally, which need efficient multi-currency support. Teams looking for collaborative options also benefit, as Xero supports multiple users with varied permission levels, fostering transparency and teamwork. Additionally, Xero’s marketplace offers a variety of add-ons across different categories, enabling businesses to augment and refine their financial management processes. Xero provides out-of-the-box integrations with a plethora of third-party applications across e-commerce, point-of-sale, time tracking, and more, enhancing its functionality.

Quick and Simple Xero Invoicing

Xero’s online accounting software is designed to make life easier for small businesses – anywhere, any time. Log in anytime, from anywhere, to send invoices, pay bills, and manage your cash flow. While the software is well-organized, it does have a steep learning curve (not as steep as QuickBooks, but it is more what are different types of contract difficult to learn than other cloud-based options). It takes quite a while to explore all of the features it has to offer, but once you get acquainted with the software, Xero is fairly easy to use.

See how Xero works for your business

Our partners cannot pay us to guarantee favorable reviews of their products or services. Xero’s bank feed securely imports your transactions into the Xero accounting software each business day. Discover seamless app integrations for efficient accounting with Xero’s comprehensive accounting software.

But for those needing extensive customization or direct, immediate support, it’s worth comparing with alternatives. Based on functionality and ease of onboarding, I find it best suited for small to medium businesses needing comprehensive financial monitoring. In this review, I’m going to share my analysis and evaluation from my hands-on experience with Xero. But first, if you’re just beginning your search for the best accounting tools, check out my picks for the best accounting software. You probably already know that Xero is among the most popular accounting tools out there, but you need to better understand what’s good (and not so good) about it.

Each plan still offers unlimited users and live bank feeds, so businesses what are assurance services that cpa firms provide can download, categorize, and reconcile their transactions as usual. The other appeal of the software was that each plan came with unlimited users, access to every Xero feature, and payroll. Xero helps transform the data you enter into actionable information at every subscription level.

Also, companies that handle high-volume inventory and require advanced inventory management features could find Xero’s options limited. Xero offers several support channels, including a robust online help center, tutorials, and 24/7 customer support via email. However, the absence of direct phone support can be a point of frustration for users seeking immediate assistance for complex issues. 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. There is limited tax support, limited invoice templates, no built-in payroll, and a steep learning curve. Multiple pricing increases over the years have driven up the cost of the software, and customer support isn’t the best.