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…
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
Great product, easy to use and user focused.
Xero offers a …
Efficient User
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 (188)9.191%
- Accounts receivable (181)9.090%
- Standard reports (183)8.383%
- Dashboards (180)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.
- 7.8Direct deposit files(49) Ratings
Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.
- 7.7Salary 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.
- 7.7API 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.
- 7.4Plug-ins(115) 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.
- 7.2Single 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(161) 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(180) Ratings
Users can create, customize and share dashboards, which provide an overview of the most important metrics.
- 8.3Standard reports(183) Ratings
The software offers pre-built reports with metrics standard to the category.
- 8.1Custom reports(163) 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(180) 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(181) 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(165) Ratings
The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.
- 9.1Bank reconciliation(188) 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(171) Ratings
The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
- 7.9Time tracking(62) Ratings
The software can track billable and non-billable employee time by project.
- 7.9Fixed asset management(117) 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.
- 7.7Multi-currency support(112) Ratings
The software supports transactions across multiple currencies.
- 7.5Multi-division support(94) Ratings
The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.
- 8.3Regulations compliance(96) Ratings
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
- 8.9Electronic tax filing(97) Ratings
The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.
- 7.8Self-service portal(108) Ratings
The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.
- 6.4Global Financial Support(53) Ratings
Account using multiple ledgers, multiple currencies, and multiple entities
- 7.4Primary and Secondary Ledgers(51) Ratings
Record and report across multiple currencies and accounting standards with primary and secondary ledgers
- 5.8Intercompany Accounting(40) Ratings
Automatically balance and reconcile GL for intercompany transactions
- 8Localizations(39) Ratings
Meet reporting requirements with country-specific localizations
- 9.3Journals and Reconciliations(90) Ratings
Automate and synchronize ledgers and processes
- 4.1Enterprise Accounting(33) Ratings
Create accounting for disconnected ERP and non-accounting source systems
- 5.4Configurable Accounting(59) Ratings
Configure accounting rules and segments for each chart of accounts
- 4.8Centralized Rules Framework(33) Ratings
Integrate disparate ERP and transactional systems into single ERP instance
- 5.8Standardized 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(84) Ratings
The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.
- 6.9Automatic reordering(24) Ratings
The software can be set up to automatically reorder a good when it falls below a certain threshold.
- 6.8Location 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.
- 6.7Pricing(62) Ratings
Users can set up complex and unique pricing requirements.
- 6.8Order entry(56) Ratings
Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.
- 7.3Credit card processing(58) Ratings
The software facilitates credit card processing.
- 7.2Cost 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.
- 6.5Order Orchestration(21) Ratings
Define and execute order fulfillment processes for products as well as services on the same order.
- 6.4End-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
- 6.5Order 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
(720)Attribute Ratings
- 9.9Likelihood to Renew32 ratings
- 9Availability10 ratings
- 10Performance8 ratings
- 8.8Usability133 ratings
- 9Support Rating36 ratings
- 10Online Training5 ratings
- 9.1In-Person Training1 rating
- 7.3Implementation Rating10 ratings
- 9Configurability1 rating
- 10Product Scalability6 ratings
- 6.7Ease of integration93 ratings
- 10Vendor pre-sale2 ratings
- 9Vendor post-sale2 ratings
- 9.1CPA Rating10 ratings
Reviews
(26-50 of 208)simply the best accounting software platform.
- Reconciliation
- Connectivity
- Reporting
- Statement automation
- Expenses
- Accessing Xero's own invoices
Xero takes the pain out of company accounts
- Reconciliation of transactions is simple and can be done on a mobile device, meaning accounts can be kept up to date easily whilst away from the office.
- Cashflow management is also simple with Xero, it's a few clicks to generate a report on cashflow so you can always be sure how your business is currently fairing.
- Expenses categorisation could be a little simpler, there are large amounts of categories and it can take time to find and scroll to the correct one. A simplified list based on past transactions could be incorporated to improve this.
Great value for money but aimed at very small businesses
- Integrates well with Unleashed inventory software
- Payment gateway from invoices
- Document templates are easy to create
- No ability to set separate email addresses based on roles or document type, e.g. invoices and statements have to go to the same address (or be manually redirected)
- Reporting functionality is clunky to use and not very in-depth
- Generally seems to be aimed at sole-traders and very small businesses
Xero - User Friendly
- Ease of correcting G/L accounts
- Ease of reporting
- Benefit of A/P is the scanning to import function
- printing checks should have option to arrange in alpha order
- there should be an easier way to void stale dated checks once a period is closed
Xero - good software for SMEs
- Bookkeeping
- Reporting
- Security
- Crypto currency
- Statutory accounts and tax
- Payroll for larger organisations
Not too bad
- easy to use
- flexibility in customising reports but with limitations
- able to integrate with numerous third party solutions
- allow posting of manual journal in foreign curriencies
- preparation of consolidated financial reports
- more flexibility in customising reports
- allow reports to be tracked in more categories
Xero: Seamlessly Integrated Success - A Dive into Effortless Connectivity and Efficiency
- Reporting
- banking statements
- user friendly
- More detail explanations
- More detail on dashboard
- User to be able to send from his domain name
Easy to use for a beginner to book keeping
- Payroll
- HMRC filings
- VAT
- NA
Great all in one for our small business
The best feature of Xero is the bills can be emailed to Xero and Xero will make the draft bill for you to upload with the details already filled out.
- Inputting Bills
- Creating invoices
- Reconciling payments
- Sometimes the loading speed on the page can take a while, this is infrequent
Xero us very well suited to our small business, any new staffing the office easily find their way around Xero even if they have never used it before.
XERO - the lowest cost yet highest performing financial management system i've used to run a small business.
Xero is connected to our company bank account, and we know in real-time when invoices are paid.
Furthermore, our Accountants also use our Xero system for calculating our Accounts.
In short, all finances within our business are managed using Xero.
- Issues Customer Invoices
- Manages Supplier Invoices
- Enables our Accountant to process our Accounts
- Xero UI could be more modern and slick like those of slack / paypal.
- Xero user management is sometimes a little tricky to manage.
Xero is brilliant at integrating into the Company Bank Account, and then updating the data within the Xero system - thus giving a real-time 'balance sheet' view of the companies cash flow.
Xero Review - Not for proft organisation
- Cloud based - can be accessed from any browser and any device with connection to internet.
- Bank feed - bank reconciliation
- Asset register reconciliation
- Various reports with facility to filter on tracking categories
- Ability to attach emails and other documents to Journal
- Integration with other apps
- Audit trail of transaction
- Addition to an asset - in current scenario we cannot add an asset ; it has to be created as new separate asset .
- Increase in tracking category - currently there are only two category
- Increase in tracking category options - currently there are only 100 options - in one category
- Audit trail for financial settings - currently Xero does not who has locked the period in financial settings.
- Sorting feature in assurance dashboard ; currently feature is missing - if we can sort transaction based on date will be great.
- Phone facility - currently Xero help responds only by an email ; there is not facility where we can talk to real person.
Xero reason not to choose Xero!
- Bank Statements
- Invoices
- Jobs
- Bulk Payment Capture
- Credit Allocations
- Reports
Xero Wastes Zero Time
- Fixed Asset Register
- Record Keeping
- Able to make changes to entries
- When looking at a GL account, you cannot see where the entry was made from. Spent money does not say from which bank.
- Supplier page does not show payment dates
- Missing Supplier and customer detailed ledger accounts
Xero review, Their strengths and Weaknesses
Plus with the Xero Ledger account which is cheaper the client can't do any processing, and the Accountant will just charge you more money.
- The support is quick with answers.
- They have you upload documents and PDFs which cut paper usage.
- Xero is relatively user friendly.
- They need to start adding features and stop changing they layout.
- In the Xero Ledger function allow the client to also process.
- Start going through the suggestions that people make, you will find good stuff there.
- Bank feed - the software can remember where you allocated an expense/income even without creating a bankrule
- Tracing expenses, correction of wrong allocation, the Find and Recode in bulk
- The Vat Report comes up by the click saving so much time , It comes up with all the schedules easy for audit
- The fact that one can go on without having to roll over to the new year and be able only to choose the period one needs
- My main struggle is when i type in search when i want to know how to do certain things, I don't know if it's maybe the language barrier my side.
- I struggle with the bank rule but that could be me
- I really would like to see some explanations done practically, some tutorials have videos.
- Maybe its me I am old school, but would love to have proper training face to face practicality
I come from the rural of rural area, internet is sometimes a problem, Xero does not have a functionality of working offline.
XERO ACCOUNTING SOFTWARE REVIEW
- Invoicing & data capturing
- Bank reconciliations
- Debtors control
- Management accounts
- Annual financial statements
- Vat monthly returns
- Tracked inventory control
- Easy bank recons
- Aged debtors lists
- Bank reconciliations
- Nice income statements and balance sheet reports with comparisons
- Ability to go back and edit transactions
- Restricted access control
- Does not remember and suggest previous transactions postings
Xero changed my life!!
- Automated bank feeds
- Simplifying bank reconciliations
- VAT report and VAT submission
- Customizing the sales invoice template
- Multi-factor authentication cannot be bypassed by subscriber or senior user
- Bank rec is really easy and forgiving when correcting a mistake.
- Basic financial reports are built in and useful.
- It's popular enough that there are numerous integration options with other platforms.
- No invoicing, late fees - despite years and years and thousands of clients requesting it, Xero has decided not to develop any kind of interest or late fee functionality. Their only solution is to suggest a 3rd party tool that is quite expensive.
- No bundling/assembly tracking. If you are selling an item or service that requires multiple products or multiple revenue accounts, you're out of luck. Unless you want to manually make adjustments, or pay hundreds of dollars for a 3rd party tool.
Ultimately, it's a cheap, simple solution that suits us well enough for the moment, but we do have to rely on tools like Freshbooks for basic features.
Xero Review
- Invoice reminder sending
- Management report
- Business snap shot
- Short-term cash flow
- Allow for other languages to see and send out in PDF formats
- The report download can have more format options
- Invoicing format should be more flexible for logistics
- Delivery note needs to be eligible to print
Xero is User-friendly!
- Reporting
- Easy customization
- Good layout view
- Providing definitions and messages for key terms
- Freezing when scrolling down the column headers in accounts transactions reporting
- Having the old reporting features in the new report functions, e.g.: old P&L month-by-monthly review with blue links
- Helping the user to transfer their Xero advisor certification when they switch organizations, e.g.: with a unique backup code
Xero - your solution or not?
- User Friendly
- Use access levels - problem for about two years
- Xero is expensive
- Xero does not include smaller advisors in their roadshows, only focussed on bigger provinces
5 cents from Singapore
- when we are generating the bank reconciliation statement, the payer/receiver name shall be presented, instead of "multiple items"
- if we use reconciliation function to create new receipt / payment, we can't add the reference number.
- Cloud based
- Daily bank feed
- GST report
- Cost effective
- Unlimited users
- Batch payment
- Bank Reconciliation
- Reconciling Transactions
- API Design
- Repeating Invoices, Bills, and Journal Entries
- Fixed Asset Depreciation
- Financial Statement Customization
- Bank Feeds & Statement Imports
- Correcting Mistakes
- Contact Management
- Payment Provider Integration
- Email Templates
- API Authentication for Service Accounts
- Permissions Management
Making Accounting Easy with Xero
- Bank reconcilaitions
- Client Invoicing
- Integrating with other business software
- Fast processing
- Accurate
- Account Reporting
- Bank reconciliations
Xero is number one in my book
- App intergration
- Bank feeds and bank rules
- Hubdoc, no explanation needed
- repeating journals and invoices
- drill down options
- I find the difference between Start up and Standard is lacking. It would be more suitable to have a package in between the two. eg it would be better to have one that allowed bank recon and bills (not limited to 20)
- User role can also need adjustment, I need one where i need to give full access to reports but not the bank. It would be ideal if you had a tick box on all users that allowed /dissallowed bank access.
- incredibly user friendly
- integration with Simplepay to the monthly journals can be raised
- integration with Hubdoc and many more
- Reports that can be edited to suit the end user.
- Bank rules and easy coding to save time
- Repeating invoices and journals also makes it easier not to forget
- Remove and redo function in case of mistakes
- Find and Recode is an absolute life saver for accountants.