Overview
What is Xero?
Xero is an online accounting software product for small businesses and personal finance. Its features beyond general ledger and double-bookkeeping include quotable invoicing, bank reconciliation, purchase order and expense management, and tax management. Third party apps can extend its features…
Review Xero Accounting Software
Great software for businesses
Accounting made easy
Xero Review
Prosper in the symphony of financial excellence with Xero.
Xero to Hero
Xero, your Accounting-starter buddy!
Xero - I Love That It is One Touch Bank Reconciliations
Xero the Hero
Xero or Zero
Easy to use accounting software.
Xero is great for quotes.
Xero
Xero
How Xero Differs From Its Competitors
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Awards
Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards
Popular Features
- Bank reconciliation (190)9.191%
- Accounts receivable (183)9.090%
- Standard reports (185)8.383%
- Dashboards (182)8.080%
Reviewer Pros & Cons
Video Reviews
1 video
Pricing
Early
$13
Growing
$37
Established
$70
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Starting price (does not include set up fee)
- $13 per month
Features
Payroll Management
Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.
- 7.9Pay calculation(65) Ratings
Pay calculation provides for computation of employee pay with state and federal deductions.
- 8.1Benefit plan administration(23) Ratings
Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.
- 7.6Direct deposit files(49) Ratings
Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.
- 7.5Salary revision and increment management(41) Ratings
Salary revision is the ability to modify individual employee pay.
- 7.2Reimbursement management(54) Ratings
Reimbursement management provides cash reimbursement for employee expenses related to business travel or other.
Customization
This addresses a company’s ability to configure the software to fit its specific use case and workflow.
- 7.8API for custom integration(79) Ratings
An API (application programming interface) provides a standard programming interface for connecting third-party systems to the software for data creation, access, updating and/or deletion.
- 7.3Plug-ins(117) Ratings
A number of third-party plug-ins are available to expand the core functionality of the software.
Security
This component helps a company minimize the security risks by controlling access to the software and its data, and encouraging best practices among users.
- 6.8Single sign-on capability(72) Ratings
The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.
- 8.8Role-based user permissions(163) Ratings
Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.
Reporting & Analytics
Users can report on and analyze usage, performance, ROI, and/or other metrics of success.
- 8Dashboards(182) Ratings
Users can create, customize and share dashboards, which provide an overview of the most important metrics.
- 8.3Standard reports(185) Ratings
The software offers pre-built reports with metrics standard to the category.
- 8.1Custom reports(165) Ratings
Users can create custom reports.
General Ledger and Configurable Accounting
Financial management solution, including capabilities for general ledger and configurable accounting
- 8.8Accounts payable(182) Ratings
This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.
- 9Accounts receivable(183) Ratings
This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.
- 8.1Cash management(167) Ratings
The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.
- 9.1Bank reconciliation(190) Ratings
The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.
- 8Expense management(173) Ratings
The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
- 8Time tracking(63) Ratings
The software can track billable and non-billable employee time by project.
- 7.9Fixed asset management(118) Ratings
This includes the ability to track fixed assets (e.g., laptops), including location, check-in and check-out, maintenance scheduling, audit history, specialized property tax period reports, cost and depreciation.
- 7.6Multi-currency support(113) Ratings
The software supports transactions across multiple currencies.
- 7.5Multi-division support(95) Ratings
The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.
- 8.3Regulations compliance(97) Ratings
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
- 8.9Electronic tax filing(99) Ratings
The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.
- 7.8Self-service portal(110) Ratings
The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.
- 6.3Global Financial Support(55) Ratings
Account using multiple ledgers, multiple currencies, and multiple entities
- 7.4Primary and Secondary Ledgers(53) Ratings
Record and report across multiple currencies and accounting standards with primary and secondary ledgers
- 5.4Intercompany Accounting(40) Ratings
Automatically balance and reconcile GL for intercompany transactions
- 8Localizations(39) Ratings
Meet reporting requirements with country-specific localizations
- 9.4Journals and Reconciliations(90) Ratings
Automate and synchronize ledgers and processes
- 3.5Enterprise Accounting(33) Ratings
Create accounting for disconnected ERP and non-accounting source systems
- 4.7Configurable Accounting(59) Ratings
Configure accounting rules and segments for each chart of accounts
- 4.3Centralized Rules Framework(33) Ratings
Integrate disparate ERP and transactional systems into single ERP instance
- 5.2Standardized Processes(59) Ratings
Centralize financial management to facilitate standardized financial processes
Inventory Management
The ability to track and manage the flow of goods or materials into and out of an inventory.
- 6.4Inventory tracking(85) Ratings
The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.
- 6.7Automatic reordering(24) Ratings
The software can be set up to automatically reorder a good when it falls below a certain threshold.
- 6.6Location management(29) Ratings
The software can track multiple goods across multiple locations.
- 6.2Manufacturing module(16) Ratings
The software helps track and manage raw materials, work-in-progress items, and finished goods.
Order Management
The ability to process orders, and track them from quote to cash.
- 6.5Pricing(62) Ratings
Users can set up complex and unique pricing requirements.
- 6.6Order entry(56) Ratings
Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.
- 7Credit card processing(58) Ratings
The software facilitates credit card processing.
- 6.9Cost of goods sold(66) Ratings
The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.
- 6.4Order Orchestration(21) Ratings
Define and execute order fulfillment processes for products as well as services on the same order.
- 6.3End-to-end order visibility(24) Ratings
Get updates on orders, inventory, shipments, planned supply, and invoices, and improve the quality of decisions through in-context analytics
- 6.4Order exception Resolution(17) Ratings
Monitor fulfillment tasks and resolve issues, view and evaluate varios options via what-if analysis and define and enforce change order rules
Product Details
- About
- Integrations
- Competitors
- Tech Details
- FAQs
What is Xero?
The product is sold by subscription (a distribution model commonly known as software as a service or SaaS) requiring the payment of a monthly fee. This charge is proportionate to the number (and type) of company entities managed by the subscriber. The lowest tiered pricing option is the $9 per month Starter pack, which supports unlimited users but a limited number of transactions. The $30 Standard pack breaks open usage limits and adds e-filing and payroll options. The $70 Premium package doubles the number of supported employees on payroll from 5 to 10, and supports multiple currencies.
Xero Features
General Ledger and Configurable Accounting Features
- Supported: Accounts payable
- Supported: Accounts receivable
- Supported: Cash management
- Supported: Bank reconciliation
- Supported: Expense management
- Supported: Time tracking
- Supported: Fixed asset management
- Supported: Multi-currency support
- Supported: Multi-division support
- Supported: Regulations compliance
- Supported: Electronic tax filing
- Supported: Self-service portal
- Supported: Global Financial Support
- Supported: Primary and Secondary Ledgers
Inventory Management Features
- Supported: Inventory tracking
Reporting & Analytics Features
- Supported: Dashboards
- Supported: Standard reports
- Supported: Custom reports
Customization Features
- Supported: Plug-ins
Security Features
- Supported: Role-based user permissions
- Supported: Multi-factor authentication
Xero Screenshots
Xero Video
Xero Integrations
Xero Competitors
Xero Technical Details
Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
---|---|
Operating Systems | Unspecified |
Mobile Application | No |
Frequently Asked Questions
Comparisons
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Reviews and Ratings
(730)Attribute Ratings
- 10Likelihood to Renew32 ratings
- 9Availability10 ratings
- 10Performance8 ratings
- 8.8Usability135 ratings
- 9.2Support Rating36 ratings
- 10Online Training5 ratings
- 9.1In-Person Training1 rating
- 7.3Implementation Rating10 ratings
- 9Configurability1 rating
- 10Product Scalability6 ratings
- 6.7Ease of integration95 ratings
- 10Vendor pre-sale2 ratings
- 9Vendor post-sale2 ratings
- 9.1CPA Rating10 ratings
Reviews
(1-25 of 210)Xero Software User
- invoicing and cash collection
- bill payments
- obviously you need to study and practice the software settings
- there may be areas of improvement but for my application i find the software adequately
Review Xero Accounting Software
- Importing transactions
- continuous progressive improvements and growth of product features
- excellent support platforms = self service plus live contacts plus dedicated account managers.
- A good range of subscription services
- An interesting array of app partners / add on resources.
- I would like to have the ability to sign up a holding company and all its trading entities under one subscription, in order to have amalgamated and separate accounting records and reports for each trading entity.
- This is pertaining to my own Xero business clients: I would like to have a full featured, customizable practice client support /ticketing and task manager system, with reminders that can be sent to my clients and my team for various tasks due.
- I would like Xero to have a cheaper option for their packages that include invoicing and related documents, as in my country we have options with an opposition accounting firm that offers a subscription where clients can create up to 2000 invoices per year for free.
Great software for businesses
- Bank reconciliation
- Currency conversion
- real time accounting
- credit card feeds. ours never work well we have to import csv
- it's a bit slow
Accounting made easy
- Bank Reconciliation
- Sales Invoicing
- Project Accounting
- Tax Filing
Xero Review
- Reporting
- Invoicing
- Cashbook
- No salesperson field
- Accurate financial reports.
- Advanced security.
- Budgeting and quoting.
- Professional and beautiful invoices.
- Automatic financial data capturing from receipts.
- In-depth financial analytics.
- Nothing to be specific. All parts had been made to work really well.
Xero to Hero
- Invoicing
- Quoting
- Reporting
- More control on report inputs
- Small bug reduces size of screen
Xero, your Accounting-starter buddy!
- Monthly Reports
- Invoice
- Annual Reports
- Financial Statements
- Transparency
- Easy access
- Integration with other platforms
- It could be also used for a broader CRM-like software, just with a few more features
- Sidenotes conversations on books, for real-time reviewing
Xero - I Love That It is One Touch Bank Reconciliations
- Extract bank statements
- Collect receipts
- Customized reports
- Easy connection to tax software
- Xero needs to add the ability to change what account is used in Spend money without having to start over
- Ability to write cheques out of foreign currency bank accounts
- Ability to add credits on the matching screen on AP & AR not have to pre-allocate
Xero the Hero
- Automates invoicing
- Easy view of overdue payments
- Real-time view of the financial health of the business
- Occasionally, the price increases and I feel that prices should be fixed for long-term users as there are very few changes in the software from when I started using it 6 years ago.
- It would be useful to have the emails sent with invoices saved.
- Visual dashboards are limited.
Xero or Zero
- Nothing particularly well
- Average
- Matches invoice to payment
- Proper Support
- Discounts for periods when Yodlee is not working
- Offer more functionality on the entry level program - Invoices. Will cost you nothing.
- Support staff who can solve problems without sending a tutorial video
Bank could not connect to Xero for over a month. this has happened 3 times in 7 or 8 months.
Asked to talk to someone other than the "support specialist" telephonically and only got a "support specialist" calling to apologize> No help.
Easy to use accounting software.
- VAT returns.
- Bank Account Sync.
- Nominals
- Purchase orders linking to purchase invoices when created from an API integration.
Xero is great for quotes.
- Branding themes.
- Templates
- Storing customer information.
- Display billing and shipping addresses on quotes.
- Easily duplicate and edit quotes.
- Allow different customer names on a customer profile.
Xero
- Data feeds
- Responsiveness to questions posted online
- Clear, easy to read dashboards
- No ability to call for support so no real-time answers
- Some functions are less than intuitive
- Easy to forget to check transaction dates (defaults to current day); no reminders
Xero
- Ease of Use
- Custom Reporting
- Good Integrations
- Quoting
- Bank Reconciliation
- Managing Contact Information
Great product, easy to use and user focused.
Xero offers a solution across the entire spectrum of accounting this being bookkeeping, wages, VAT, management accounts. There are a wealth of reports to assist and guide.
I'd say xero offers a solution that's built for the user and thus assists even those that don't (and have no desire to!) understand accounting in its full detail.
- Reporting
- Assisting the user
- Making transactions easy
- Bank Feeds
- Lock dates
- Year end procedure
- More advanced aged debtor reporting
It's also built in such a way that the user doesn't need to understand the finer details of the accounting treatment, it's built to assist and walk through the user although some of the terminology is a little American with receivables and payables etc.
Efficient User
- Easy to upload Bank statement
- Can generate reports
- Payroll
- Financial reporting
- Purchasing via Xero lacks the option to attach PDFs to purchase orders, limiting documentation.
- In the payroll center, there's no provision to upload documents like doctor's notes for sick leave onto employee cards, hindering documentation management.
We switched to Xero and never looked back!
- Matching during reconciliation.
- Invoicing and accepting online payments is a game changer.
- Great Customer Support. Every time I have submitted a ticket, the response time is quick and always helpful.
- We also use XPM for our CRM. When creating tasks in XPM, it would be helpful if the entire chart of accounts was an option in the Income Account drop-down box. Sometimes, tasks or costs need to be coded back to an expense or COG's account.
- When editing an invoice in Xero, that change is not reflected in XPM. Since I am the only employee privy to the Xero side, other employees only accessing XPM cannot see the change unless I make a note.
- When setting up third-party payment apps such as Stripe. Xero would not allow me to code transaction fees back to an expense or COGS account. Each morning, I must go in and find and recode these fees.
Xero - The Accounting Software for Small Businesses
- Payroll
- Reporting
- Reconciliation
- Customisation of Accounts
- Layout
- Onboarding
Xero - the best bang for the lower tier accounting system.
- Their method of moving between screens was very logical and intuitive which is not a "given" attribute among software packages.
- Finding transactions was relatively easy with just common sense.
- The use of this software was generally well received in that the accountants did not discredit the software as cheap, poorly organized, or timely to learn. No one at Corporate had a vendetta against using Xero.
- It does a good job of allowing the users to drill down to the final detail of an account balance - which is fundamental to the accounting department's needs.
- I used the system to audit the numbers and to uncover unusual or unsupported transactions. I did not have to close the system but knowing who did, I think this area is well thought out.
- It does not have the full capability to issue sophisticated financial statements with footnotes, but it is not a mid-tier software like WorkDay, NetSuite, and Sage.
- It definitely has QuickBooks beat.
Just like QuickBooks, it does not have the internal controls to push it to the next level of software, such as WorkDay, NetSuite, etc.
Learn about your business with Xero
- Profit and loss
- Payroll
- Invoicing
- Allow pricing tiers for invoicing e.g. retail, wholesale, etc
- Reporting could be improved
- Search functionality could be improved
Xero Accounting program - flaws not tended to nor fixed.
Xero is okay, but lacks customer suggested minor improvements.
- Automation of recurring invoies
- Automation of invoice follow-ups
- Automation of A/P albeit through a cumbersome input process
- Bank feeds break often and are slow to be repaired.
- Multi-currency support doesn't take into account usability
- Highly requested features by 100s of users from as far back as a 10 years do not get implemented
- User requested features almost never make it into the software; and these requests are often extremely simple and basic, but would make a huge improvement in usability.
There are some minor usability gripes which, when compounded over months and years, cause many hours of what I believe to be unnecessary work.
Xero for small business review
- Working with historical Chart of Accounts is sometimes tricky, should be able to search by input as opposed to simply a timeline
Xero is the new ten.
- Cash coding the first thing I loved about it. The spreadsheet-like format just makes sense and is basically a superpower when it comes to write-up.
- Find and Recode is the next beauty. You can find and fix so much so quickly with that one tool.
- The integrated fixed asset module exists and is adequate which is more than I can say for any competing software.
- Getting data in and out of the software is easy.
- Reporting is beautifully customizable.
- Their customer service has always been good for me.
- I love that Hubdoc is included for free.
- Everybody kvetches about their reconciliation function, and sure, I'd like it to be a little more like the QB version that everyone is used to.
- The UI on Hubdoc is pretty weak. They've had plenty of time to integrate Hubdoc directly into Xero and they haven't yet.
- Navigation could be easier. It ends up being a lot of clicks.
- The fact that credit cards still have be listed as "bank" accounts in order to get a feed is bonkers.
- Their "Projects" module is not very powerful, yet not very easy to use.