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
- 4Enterprise 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.
- 7.2Credit 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
(1-25 of 131)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 - 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 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
- 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 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
- Integrate Wagepoint payroll system
- Integrate MileIQ mileage expense system
- Integrate Dext expense management system
- Simple bank account integration - upload bank accounts and reconcile quickly with automated suggestions
- 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.
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 - 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
- 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.