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.
- 7.3Single 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
- 9.2Journals 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
- 5.5Configurable 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
- 5.9Standardized 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.
- 6.9Location management(29) Ratings
The software can track multiple goods across multiple locations.
- 6.3Manufacturing 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
(51-75 of 208)Fan-freaking-tastic
- integration with Dext
- bank reconciliations
- reporting
- bank feeds
- bank feeds
- bank feeds (need I say more)
Positive Uplift
- Accounting abilities for reports
- Searching ability for debtors
Xero - makes accounting fun and easy to use
- Management Accounts
- Budgets
- Account transactions
- Supplier and customer reports
- Bank reconciliation
- Inventory
Excellent service with easy use and comprehensive features but customer support could improve
- accounting
- reconciliation
- automatic updates
- help feature could use more live support or youtube how to videos to compliment FAQs
- better organize support by country area, like US tax questions
Infinity is just Xero spelled backwards
We also Xero to integrate our sales from the restaurants. After bills are paid, we use multiple types of reporting features.
- Bank feeds work great, or I can easily import statements.
- Easy to use, but still has the manual journal options for more detailed accounting.
- Fixing errors is easy, plus gives detailed info on which user did what.
- Cost! Very worth the low price.
- Setting our own fiscal calendar is not available, so for every return or P&L, I have to manually adjust dates.
- Remittance information on the checks is not available, and it very frustrating what they let you put on the checks.
- Checks print in whatever weird order Xero puts them in. You can adjust to make it alphabetically and I can't figure out what ordering system they use.
- We do use a small bank for one of our accounts, and it doesn't integrate with that bank. But that could be the bank's fault.
LOVE it! Just need a small improvement
- Xero tax - (creating tax returns for lodgement)
- Client data base
- Reports/report builder
- Timesheets sometimes dont work
- Xero tax sometimes doesnt load
- Integrate with monday.com (workflow manager)
Xero the little software with big power
- Entering purchase invoices
- Producing sales invoices
- Producing financial reports
- GST reconciliation
- Purchase order
- Inventory
- Project costing
- Project management
Xero becomes insufficient when the company has multiple entities and in needs for consolidation, although this can be solved with add-ons, but complicated accounting treatment is also quiet limited with Xero.
- Good report editing and great power to share them with colleagues to seek to improve our accounting processes.
- A simple and very dynamic user interface to manage financial and accounting data, it is a very automatic software.
- We can use it from the office or from our phones, which allows us to work from home. I like that feature as we don't always have to be in front of the computer and we can do it remotely.
- Xero has been a great software for us. We have not noticed any limitations in its use, the benefits have been constant, and we hope that it will continue to increase our financial and accounting effectiveness.
- Bookkeeping with direct feeds from bank accounts.
- A simple and elegant user interface.
- A variety of specific reports.
- Makes reconciliation a breeze.
- Lodge Activity statement.
- Payroll management.
- Integrates well with Stripe.
- Superannuation contribution payments
- Can upload receipt/scan receipts to have everything in one place for bookkeeping
- Sometimes bank feeds disconnect for no obvious reason.
- Could provide graphic charts in addition to number reports to make it more visual.
Xero, Essential Software for Small Businesses.
- Payroll
- Reporting
- Bank feeds
- Batch payments
- Reports are constantly changing
- There are duplicate reports and the difference is unclear.
- Random bugs
Xero - the future of accounting software
- Xero has a clean user-friendly interface.
- There are strong integrations with many complimentary applications.
- The software is constantly being updated.
- Since Xero was built for the web the application runs extremely smoothly.
- The reporting function can certainly be improved. The function is good, but I think it is an area that could be simplified more.
- Update the support function; they are very responsive but I don't think you can speak to a live person easily.
- Invoicing.
- Tax lodgments.
- Budgeting and planning.
- Business analytics.
- Improved ease of linking to Australian Tax Office.
- Cash Coding.
- Fix posting.
- Generate Financial Report.
- Customer service.
- Eliminating duplicate posting of contact.
- More plug in similar the other major accounting software.
Great tool for billable hours time-keeping
- Real-time tracking of hours
- Easy and simple UI
- Mobile app is big benefit to tracking
- being able to add details to hours worked is helpful
- I have no feedback on improvements
Xero makes you a financial hero!
- Invoicing
- Statement of accounts
- Expense management
- Syncing with bank statements
- Communication when bank feed fails
Best cloud based accounting software.
- Integration
- Ease of Use.
- API
- Recurring Invoice API.
- Local currency pricing.
- Reporting (customizing look and contents and the ability to add multiple comparative periods is brilliant and not found in many other competitors.
- Bank feeds. The way they organize bank feed and subsequent matching or coding is very user-friendly for non-accountants and fast for accountants.
- Can file VAT returns and is MTD compliant in UK.
- Customer support has been helpful (at least in my experience).
- Bank reconciliations. I would like them to try something like QBO where reconciled transactions are marked and then locked, so when editing or deleting those transactions, you are shown an extra warning.
- Vendor and customer pages. It should be easier to see a list of activities and then access those transactions from there. Again QBO does it better, in my opinion.
- Search feature. Once again their main competitor does that better, you can search an invoice number, amount, date, vendor name, and account head in QBO and it will show relevant results. Xero global search functionality is pretty basic.
- If there is a local variant for your country (US, UK, NZ, etc), so you can file GST / VAT returns directly, CIS returns (UK).
- If you are a business owner who wants to maintain books on your own because it is very friendly for non-accountants and rarely uses accounting jargon anywhere. They have done a good job of translating everything to layman's terms.
- If you don't mind paying slightly more than some of the basic options and get a huge set of features, reports, integrations, and customer support. All you usually need from cloud accounting software.
Xero has been a hero for our firm and clients
- Customer Service
- Recommending accountant advisor for the accounting
- User interface
- Fair pricing
- Xero Projects easier to use and implement
- Being able to cancel subscription right away- no 30 day wait
- While pricing is fair, their billing department is terrible
Hero is Xero!!
- Allows dates of invoices to change - not rigid
- Sends individual or multiple invoices, whatever I choose
- Shows which invoices are late, which ones are due, and allows us to have drafts that are not comingled with valid, current invoices
- It would be nice to be able to pull an invoice and put in drafts
- I wish it was compatible with our HUBSPOT app
- Links shopify very seamlessly via applications like A2x
- Makes creating invoices easy
- Ensures all sales are filtered through from Shopify and broken down into GST, discounts, sales
- Lower price point for small businesses
- Linking shopify without the need for A2x
- Improve interface so it could directly link to ATO
user-friendly software
- Very user-friendly software.
- The possibility to create recurring invoices.
- Nice functionality to reconcile bank accounts.
- Customer reports missing.
- Limited setting up in the access rights. It would be very useful to be able to set up the user access rights more in detail.
- Not all the banks available for bank feeds.
Not the cheapest but a good feature-set
- Bank reconciliation.
- GST returns.
- Automatic bank feeds.
- Financial statements.
- Support is only through email.
- Outage advisement is poor.
Simple Xero
- Quote/Invoice generation
- expense tracking and reimbursement
- Employee visibility on dashboard and payment status
- Easy invoice templates
- It is relatively simple overall, good for ease of use but no real advanced functionality
- Relatively inflexible invoice generator tool
- No integration and visibility to other payroll platforms
A great service for the price; great for small business with medium bookkeeping needs
- Allows me to quickly label transactions
- Allows me to easily pull reports like Balance Sheets and P&Ls
- Removes the human element and automates my transactions
- The bank feed doesn't always work as expected, still requiring some manual entry
Affordable and Simple Small Business Accounting
- Transaction Feeds
- Bank Reconciliation
- 1099 Reporting
- P/L Reporting
- Batch Payments
- Bulk Void/Delete of Bills and Bill Credits
- Confusing Reporting System for Non-Accountants