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Xero

Xero

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…

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Recent Reviews

Xero to Hero

8 out of 10
March 18, 2024
Incentivized
My business uses Xero as a gauge for all financial optics. It helps manage monies in and out, account visibility and solves invoicing …
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Xero the Hero

10 out of 10
March 04, 2024
Incentivized
I use Xero for invoicing, reconciling our monthly revenue and spending, and providing our accountants with the information they need for …
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Xero or Zero

1 out of 10
March 01, 2024
I use it as an accounting program. <br>The program constantly loses the ability to connect to my bank. When reported this problem takes …
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Xero

4 out of 10
February 02, 2024
It is an accounting system we use for billing, paying bills, and producing financial reports. It also has payroll capabilities, but I am …
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Efficient User

8 out of 10
January 11, 2024
Incentivized
Xero caters excellently to businesses of various sizes, offering a remarkably clean interface that's incredibly user-friendly, even for …
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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

View all 44 features
  • Bank reconciliation (184)
    9.1
    91%
  • Accounts receivable (177)
    8.9
    89%
  • Standard reports (179)
    8.2
    82%
  • Dashboards (176)
    7.9
    79%

Reviewer Pros & Cons

View all pros & cons

Video Reviews

1 video

"Straight-Forward" Accounting. How Xero Helped a Business Owner Manage Expenses
03:08
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Pricing

View all pricing

Early

$13

Cloud
per month

Growing

$37

Cloud
per month

Established

$70

Cloud
per month

Entry-level set up fee?

  • No setup fee
For the latest information on pricing, visithttps://www.xero.com/us/pricing-plans/

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

Starting price (does not include set up fee)

  • $13 per month
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Features

Payroll Management

Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.

7.8
Avg 7.5

Customization

This addresses a company’s ability to configure the software to fit its specific use case and workflow.

7.5
Avg 7.0

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.

8.1
Avg 7.9

Reporting & Analytics

Users can report on and analyze usage, performance, ROI, and/or other metrics of success.

8
Avg 7.6

General Ledger and Configurable Accounting

Financial management solution, including capabilities for general ledger and configurable accounting

7.4
Avg 7.4

Inventory Management

The ability to track and manage the flow of goods or materials into and out of an inventory.

6.5
Avg 7.0

Order Management

The ability to process orders, and track them from quote to cash.

6.9
Avg 7.4
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Product Details

What is Xero?

Xero is an online accounting software platform for small businesses and their advisors, as well as for personal finance. Xero competes most often with QuickBooks Online. Its features, beyond the ubiquitous general ledger and double-entry bookkeeping support, include invoicing with quotes, bank reconciliation, purchase order and expense management, tax management, and it is mobile-accessible. Xero integrates with over 800 third-party applications, covering everything from inventory and logistics to cash flow, project management, customer relationship management, and e-commerce.

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

Screenshot of Screenshot of Screenshot of Screenshot of Screenshot of Screenshot of

Xero Video

Xero is accounting software for small businesses and their advisors. It reveals a business's cashflow in real-time with online accounting, invoicing, payroll, billing & banking.

Xero Technical Details

Deployment TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationNo

Frequently Asked Questions

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 further.

Xero starts at $13.

Priority AccountEdge, QuickBooks Online, and Sage 50cloud Accounting are common alternatives for Xero.

Reviewers rate Journals and Reconciliations highest, with a score of 9.2.

The most common users of Xero are from Small Businesses (1-50 employees).
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Comparisons

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Reviews and Ratings

(717)

Attribute Ratings

Reviews

(1-10 of 10)
Companies can't remove reviews or game the system. Here's why
Dan Schmidt, CPA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
There are two primary reasons for the 10 rating - UI (including platform stability) and the open API/add-on ecosystem. This allows a CPA to provide value-add services beyond traditional bookkeeping, and to truly fill the coveted "trusted advisor" status.
John Cotter | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Reseller
I have considerable experience over the last 35 years with software. Solutions like Xero would have been unaffordable to SMEs. There are always new features being added although my only concern is a rushed through payroll system for 2015-16. In reality Xero was not ready and our practice suffered as a result. we trusted Xero that it was really tested. That trust was based on our involvement with the payroll development. That said, it is saving our practice time in processing payroll. There are some glitches still and reporting such as P11's are still not available.

Occasional Payroll glitches and the slow development of the new more flexible reporting is the only reason this is not a 10.
Nicholas Bird, CPA, CIA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Reseller
  • Client onboarding is a big deal. Xero has a QuickBooks conversion tool to speed this up and bring in past transactions, but it can be improved.
  • Xero has chart of account templates that can be used across clients very easily.
  • Xero has reporting templates that can be used across clients very easily.
  • The two features above make it really easy to set up industry specific verticals in Xero. The chart of accounts and reporting make up the framework for the accounting and the deliverable to the client.
  • Collaboration with clients is easy. We send links to our clients, they click on them and leave notes right in the system. If there were notifications on this it would be a bit easier.
Adrian G. Simmons, CPA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
The level of automation possible makes life simpler for small businesses. And the ability to collaborate in real-time makes it possible to serve customers in a way we couldn't before. And the continued release of features that really impact our customers for the better continues to reassure us this was a good choice.
Marvin Galang | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Reseller
Processing efficiency, accessibility, focus on client servicing and not on network administration, customer service and account management focused on helping your practice grow, innovative, continuous improvement on solutions focused on accountants. And most importantly, it makes you be cool!!!
Patti Scharf | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Because we specialize in one vertical, it's easy for us to set up standard processes across multiple clients using Xero.

Also, one of my favorite features is the ability to publish reports for each client. We publish monthly financial statements with footnotes for management so they can be notified of trends in their data. Clients can log in at any time to pull the published reports for review.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
The ease of set up and functionality are attractive features. The ability to manage and support multiple clients on this same platform is inviting! Staff and others can also have log-ins as well as other interested parties such as financial planners, business agents, etc. This truly makes for a collaborative team approach to get the most out of the client's financial data!
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