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…
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
We switched to Xero and never looked back!
Xero - The Accounting Software for Small Businesses
Xero - the best bang for the lower tier accounting system.
Learn about your business with Xero
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 (184)9.191%
- Accounts receivable (177)8.989%
- Standard reports (179)8.282%
- Dashboards (176)7.979%
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.
- 7.9Direct deposit files(49) Ratings
Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.
- 7.8Salary revision and increment management(41) Ratings
Salary revision is the ability to modify individual employee pay.
- 7.3Reimbursement 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.
- 7.3Plug-ins(113) 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.
- 7.5Single 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.
- 8.7Role-based user permissions(157) 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.
- 7.9Dashboards(176) Ratings
Users can create, customize and share dashboards, which provide an overview of the most important metrics.
- 8.2Standard reports(179) Ratings
The software offers pre-built reports with metrics standard to the category.
- 7.9Custom reports(159) Ratings
Users can create custom reports.
General Ledger and Configurable Accounting
Financial management solution, including capabilities for general ledger and configurable accounting
- 8.7Accounts payable(176) 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.
- 8.9Accounts receivable(177) 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(161) Ratings
The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.
- 9.1Bank reconciliation(184) 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.
- 7.9Expense management(168) Ratings
The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
- 7.6Time tracking(60) Ratings
The software can track billable and non-billable employee time by project.
- 7.7Fixed asset management(115) 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.
- 7.5Multi-currency support(109) Ratings
The software supports transactions across multiple currencies.
- 7.4Multi-division support(93) Ratings
The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.
- 8.2Regulations compliance(93) Ratings
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
- 9Electronic tax filing(93) Ratings
The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.
- 7.7Self-service portal(106) Ratings
The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.
- 6Global Financial Support(51) Ratings
Account using multiple ledgers, multiple currencies, and multiple entities
- 7.2Primary and Secondary Ledgers(50) Ratings
Record and report across multiple currencies and accounting standards with primary and secondary ledgers
- 6Intercompany 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
- 4.4Enterprise Accounting(33) Ratings
Create accounting for disconnected ERP and non-accounting source systems
- 5.8Configurable Accounting(59) Ratings
Configure accounting rules and segments for each chart of accounts
- 5.1Centralized Rules Framework(33) Ratings
Integrate disparate ERP and transactional systems into single ERP instance
- 6.1Standardized 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.
- 6.1Inventory tracking(83) Ratings
The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.
- 7Automatic reordering(24) Ratings
The software can be set up to automatically reorder a good when it falls below a certain threshold.
- 7Location 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.
- 6.8Pricing(62) Ratings
Users can set up complex and unique pricing requirements.
- 6.9Order entry(56) Ratings
Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.
- 7.4Credit card processing(58) Ratings
The software facilitates credit card processing.
- 7.3Cost 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.
- 6.6Order Orchestration(21) Ratings
Define and execute order fulfillment processes for products as well as services on the same order.
- 6.5End-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
- 6.6Order 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
(717)Attribute Ratings
- 9.9Likelihood to Renew32 ratings
- 9Availability10 ratings
- 10Performance8 ratings
- 8.8Usability129 ratings
- 8.9Support Rating36 ratings
- 10Online Training5 ratings
- 9.1In-Person Training1 rating
- 7.3Implementation Rating10 ratings
- 9Configurability1 rating
- 10Product Scalability6 ratings
- 6.5Ease of integration89 ratings
- 10Vendor pre-sale2 ratings
- 9Vendor post-sale2 ratings
- 9.1CPA Rating10 ratings
Reviews
(76-100 of 204)Xero - Amazing Accounting Software
- Integrates with a lot of other different software
- Generates excellent reports for business owners to review their business position
- Allows users such as accountant/bookkeeper and myself to access the software anytime
- Payroll
- Quicker response time for support
- Cost - most competitors are cheaper
Easy to Use Accounting Software with Useful Features
- The Projects feature is useful for keeping our time with clients organized.
- The option to integrate Xero with Salesforce is good.
- The new feature of assigning expenses to contact accounts while reconciling is useful because you're looking at your transactions anyways.
- I would prefer that Projects were not a feature you had to pay extra for.
Xero Review
- BAS Prep & GST Reconciliation.
- Payables.
- Bank feed processing.
- Superannuation.
- Report building.
- Payroll - timesheet function very basic and can be tedious if not integrated with another payroll software.
- Audit trail reporting.
- Bank reconciliation - doesn't show matched-off items (eg: cash deposit can't have sales deposits ticked off to balance to deposit).
Founder/CEO
Essential tool for business management
- Payroll.
- Invoicing.
- Budgets.
- Leave.
- People management.
Best mid-range accounting software!
- Syncs with our bank accounts to automatically update our transactions that need to be coded.
- Integration with Receiptbank.
- User management and permissions.
- Consolidation of multiple entities.
- Integration with our credit card platform - all transactions have to be manually uploaded to Xero.
xero saves time
- Integrate with other systems ie, deputy to help make payroll easier
- The dashboard is an easy and simple display letting me know what invoices and bills are overdue
- Provide articles for anything you need to do in xero if you dont know how to do it
- I dont like the new way the reconciliations are now displayed
- none that i can think of
- none that i can think of
Easy Use and Beautiful Online Accounting Platform
- Bank Rules and Bank Reconciliation.
- Financials Reports.
- Integration.
- Payroll.
- Compliance Work.
- Tracker - You can track financials by location or project but after a while, it gets slower. This is not Xero's primary function but they introduced new addon called PROJECTS, functionality could be better.
- Xero build in OCR invoice scanning function could also be better, it does not pick up the information sometimes.
- Multicurrency subsidiary management - easy to transaction and translate financials into various currencies.
- "plug and play" accounting system with minimal customization required - great for smaller businesses or straightforward operations.
- Smart-scan software integrations for accounts payable and receivables.
- User management and permissions is the easiest out of any ERP system I have used, and that's comparing across many.
- API connectivity to key systems is not as robust as systems such as NetSuite and Dynamics. If your business wants to connect all of its core platforms and flow data using best-in-class connectors, Xero will fall short.
- Customized financials and reporting is also simplistic - this is both a pro and a con, depending if your business is simplistic or if it has a high degree of specific and non-standard requirements. It's extremely easy to maintain a P&L and balance sheet, for instance, but custom reporting for things like FP&A are a challenge.
- Scripts for automated accounting processes are similarly not robust and I would not recommend scaling a business with complex automations and build-outs in Xero.
Xero
- Bank Feeds
- Reconciliation
- Invoicing
- User Access
- Inventory
Xero to Hero!
- Payroll integration[.]
- Intuitive user interface[.]
- Point of sale integration[.]
- Greater customizability of the dashboard[.]
- Easier access to support[.]
Xero is the current leader in ecommerce accounting, but Quickbooks is catching up fast
- Integrations with other platforms
- Quick & easy reconciliation process
- Particularly good for ecommerce accounting & bookkeeping
- Affordable & great value
- Improve the Xero community (Facebook groups, Linkedin Groups, etc) for more robust community support
- Faster product improvements and new feature releases
- Better inventory management and COGS calculations
Xero - maybe not a life saver, but certainly a time saver
- Xero helps us manage all of the Covid related payroll rules.
- Invoice and quoting is super easy and effecient.
- Xero is easy and effective for tax preparation like BAS.
- Specific user functionality could be expanded to allow multiple areas of access.
- Sometimes navigation isn't intuitive.
- Copying items like invoices could be streamlined.
Xero makes accounting bearable
- Integration.
- Reporting.
- Ease of use.
- Further integration with financial institutes to be able to pay bills within Xero.
- Profit and loss.
- Balance sheet.
- Bank reconciliation.
- Bank synchronisation.
- Invoicing.
- Payment processing (with Stripe).
Super ERP for small businesses
- Accounts payable.
- User interface.
- Application programming interface (API).
- Customs extension modules.
- Better API.
- Subsidiaries.
Great payroll solutions
- Timesheet keeping.
- Managing leave requests.
- Storing payslips.
- Managers seem to struggle updating personal info.
How do people live without Xero?
- Invoicing.
- Payroll.
- Annual accounts.
- Tax filings.
- Reporting.
Xero works for a small business
- Invoice creation.
- Reporting.
- Payroll.
- Online support can be difficult to use.
- I can't find a place to view upcoming expenses displayed in individual categories for cash flow forecasting.
Xero - the best and easiest accounting software I have used in 35 years of finance
- Invoicing.
- Purchases.
- Reporting.
- Payroll.
- Payment to accounts payable by credit card.
Four-Year Xero User
- Auto syncs bank account.
- Allows direct expenses to be input.
- Integrates payroll.
- More customizable reports.
- Multi currency expenses.
- Ability to pay by direct debit.
Xero is perfect for our small organization!
- Easy to set up/use. It took me only 15-minutes for the initial setup.
- Provide necessary integration with other applications we use. We integrate Xero with Expensify and JustWorks.
- Cost-effective and therefore much cheaper than other plans out there.
- Real-time link with our bank, which provides real-time account balances of what's in our bank account.
- Standard reports already built-in.
- Customized reports - allow more customization of reports to meet the specific needs of users.
- Allow multiple journal entries at one time.
- Create more free integrations with other software applications, like SAP Concur.
The discipline enforcer, which also makes me smile
- Links to the Australian tax office.
- Links to bank accounts.
- UX is simple and clean.
- Search experience isn't great, too often linked to unhelpful info.
Easy to use and great for small to medium business, but could do with improvements
- Simple and easy to use.
- Great for reconciling bank statements.
- Great Marketplace of add-ons.
- One of the more expensive systems.
- Very difficult to send deposit invoices.
- For the price of Xero there aren't many improvements and updates.
Great value for its price
- It's very user friendly and intuitive.
- Does well what it's supposed to do.
- Integrates easily with other apps.
- Can't work with two different companies at the same time, on a different tab for example.
- It doesn't allow to do a one off address change or contact person change in a sales invoice.
- [I feel] it could use a cashflow function