Xero Review 2024: Features, Pricing & More

With Xero, you can either create invoices from scratch or copy and edit invoices to save time. If a client accepts an estimate, you can create an invoice directly from the quote. Sales tax is automatically calculated and included in each invoice.

1. Xero reports that you can receive certification, free of charge, in approximately 6-8 hours.
2. Payments are due by the end of your monthly billing period based on the date you purchased your subscription.
3. Xero’s best features, such as the expense management and multi-currency support feature, are only available if you opt for the Established plan.
4. However, the vendor has an extensive knowledge base with many resources, including videos, help articles, and guides.

Xero’s customer support

Another page dedicated to short-term cash flow charts out how future bills and invoices can affect your net income ni definition bank balance over the next week or month. After you start a free 30-day trial of Xero, you’ll activate the account and provide details about your business. Then, you can connect your bank accounts to Xero and decide if you’ll accept electronic payments for online invoices.

Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships. Xero gets a 4.3 out of 5 stars rating on software review site G2, and a 4.2 out of 5 stars on Trustpilot, a consumer review site for businesses, with many reviews praising its customer service.

After your free trial

There’s even a demo company you can explore and play around with without worrying about making a mistake. Yes, the Xero accounting software price structure is different for nonprofits. The vendor offers registered charities, trusts, and societies a 25% discount on the original pricing. Simplify your finances and get more done with Xero online accounting software. Xero may be harder to learn than a simpler invoicing platform like Square Invoices or Zoho Invoice.

Customers can contact QuickBooks Online and FreshBooks via phone, but Xero doesn’t provide a phone number for customer service. With Inventory Plus businesses can reconcile payouts, integrate with eCommerce platforms, and fulfill up to 1,500 orders per month from multiple sales channels. One limitation is that if you use a custom payment URL, you will need to manually apply the payment to the invoice once you receive it.

Overall, Xero has a set of features that easily rival competitors like QuickBooks Online. However, we are disappointed that Xero lacks tax support, doesn’t have more advanced inventory (unless you purchase the Inventory Plus add-on), and doesn’t have more invoice templates. After your free trial ends, you can choose the plan that best suits your needs. If you need payroll, you can add Gusto’s cloud-based payroll software to any of the plans. If you purchase either the Growing or Established plan, you can add Xero’s inventory management system for an additional $39/month. Xero lets you track expenses, categorize them, convert them to invoices, and bill them to your customers.

Key features of Xero

Users of the Established plan also get access to full expense management with features such as Expense claims, Automatic receipt scanning, Expense analytics, and the Xero expenses app. The Growing plan costs $42 per month and includes unlimited numbers of invoices and bills. In addition to the features on the Early plan, the Growing plan includes bulk transaction reconciliation to speed things up. Xero helps transform the data you enter into actionable information at every subscription level. A dashboard provides a summary of your business’s financial health, including total cash learn about fica social security and medicare taxes in and out, outstanding invoices and overdue bills.

Quick and Simple Xero Invoicing

Xero lets you capture data without any manual work using a tool called Hubdoc. By enabling Hubdoc, you’ll be able to email, take a photo on your mobile, or scan your documents, and the data will automatically appear in Xero. Hubdoc does the data entry by reading key information from bills and receipts and turns it into usable data. The data from bills and receipts will be synced to Xero and matched to bank feeds. Xero is also a very secure platform; security measures include data encryption, two-step authentication, and 24/7 monitoring at multiple locations. Xero online accounting is cloud-based, so there’s no need to download or install any program except Xero.

For instance, you can’t send more than 20 invoices per month or enter more than five bills. FreshBooks starts at $19 per month after the signup discount and incorporates standout features like team roles and time tracking on all plans. The basic plan allows users to send average pto accrual rate unlimited invoices and estimates and track unlimited expenses up to 5 clients, so if you have more clients than that, you’ll need to upgrade.

They keep the language simple which is great for users who don’t know accounting terminology. The average time to become proficient in Xero varies widely, depending on users’ prior knowledge and experience. Xero reports that you can receive certification, free of charge, in approximately 6-8 hours. However, the average time is likely closer to 3-4 weeks as users become more familiar with the software through consistent use. Xero tries to throw you as many bones as possible by adding a video or help article to the top of every page you open. If you need some extra assistance in finding features or understanding the software, Xero also offers a help center.