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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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Read all reviews

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

(1-1 of 1)
Companies can't remove reviews or game the system. Here's why
Garreth Collard | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
ResellerIncentivized
We use Xero.com accounting software for multiple tasks including bank account reconciliation, coding the general ledger and trial balance, producing end-of-financial-year financial statements, for GST returns, business analysis, etc. We don’t use any of the practice management elements.
  • Bank reconciliation.
  • GST returns.
  • Automatic bank feeds.
  • Financial statements.
  • Support is only through email.
  • Outage advisement is poor.
This software as a service is specially designed for the end-user who does not have a lot of accounting experience. It is far more user-friendly and intuitive than other comparable accounting packages. Gradually over time, Xero has built up the backend so that it is more suitable for accounting firms as well.
General Ledger and Configurable Accounting (21)
42.38095238095238%
4.2
Accounts payable
100%
10.0
Accounts receivable
100%
10.0
Cash management
100%
10.0
Bank reconciliation
90%
9.0
Expense management
70%
7.0
Time tracking
N/A
N/A
Fixed asset management
100%
10.0
Multi-currency support
70%
7.0
Multi-division support
N/A
N/A
Regulations compliance
40%
4.0
Electronic tax filing
N/A
N/A
Self-service portal
30%
3.0
Global Financial Support
N/A
N/A
Primary and Secondary Ledgers
N/A
N/A
Intercompany Accounting
10%
1.0
Localizations
60%
6.0
Journals and Reconciliations
80%
8.0
Enterprise Accounting
N/A
N/A
Configurable Accounting
40%
4.0
Centralized Rules Framework
N/A
N/A
Standardized Processes
N/A
N/A
Inventory Management (4)
N/A
N/A
Inventory tracking
N/A
N/A
Automatic reordering
N/A
N/A
Location management
N/A
N/A
Manufacturing module
N/A
N/A
Order Management (7)
N/A
N/A
Pricing
N/A
N/A
Order entry
N/A
N/A
Credit card processing
N/A
N/A
Cost of goods sold
N/A
N/A
Order Orchestration
N/A
N/A
End-to-end order visibility
N/A
N/A
Order exception Resolution
N/A
N/A
Payroll Management (5)
42%
4.2
Pay calculation
80%
8.0
Benefit plan administration
N/A
N/A
Direct deposit files
70%
7.0
Salary revision and increment management
N/A
N/A
Reimbursement management
60%
6.0
Reporting & Analytics (3)
80%
8.0
Dashboards
90%
9.0
Standard reports
50%
5.0
Custom reports
100%
10.0
Customization (2)
45%
4.5
API for custom integration
N/A
N/A
Plug-ins
90%
9.0
Security (2)
35%
3.5
Role-based user permissions
70%
7.0
Single sign-on capability
N/A
N/A
  • Reduced time.
  • Better transparency of data.
Xero was much more user-friendly than the MYOB products. It was also totally online which suited each of our multinational workforces. Later MYOB developed a totally online product but by that time we had moved. To be honest there’s not a lot else in that space in New Zealand. Your next step up is accounting software written for accounting firms e.g. CCH iFirm.
Use of AI to speed up bank reconciliations, good selection of training and YouTube videos, large user base in NZ and Australia, many practitioners are qualified /certified in Xero and using it.
I don’t know if it has saved a lot of money compared to an on-site installation; the costs are probably similar e.g. by the time you pay $3-$5/month per ledger, you can end up paying thousands per month.
It has a good range of third-party integrations - which are not free - but there is no native integration from within Xero with things like Microsoft 365 or Dropbox, etc.
18
Accounting functions only.
5
Good IT skills are required but in the online space - for user access issues. To solve Xero's issues, we either used one of our chartered accountants or our certified Xero staff.
  • EOFY financial statements.
  • GST returns.
  • Reporting and projections.
Many clients use this so we need to continue supporting that.
  • in-person training
The format was great; someone was there to ask questions or help if you were stuck.
Support is only available thru the central Xero.com website. There is no way to escalate this and no one you can speak to. That can be frustrating.
That is not an option.
Yes
They usually tell you to check their status page - which I already had done - and you’ll get no thanks for telling them their software is not working. Sorry does not also seem to be in the vocabulary of support staff.
No. I would love to have a happy little story for this page, but I’ve drawn a blank.
  • Eway
  • Gocardless
  • Paypal
  • Zip
Eway: required a manual process. Zip: ditto. Neither were hard but required thinking and carefully following instructions. PayPal and gocardless: easy
If integrations existed we would use them. Microsoft 365 allows contact sync but that’s it
  • File import/export
Research available apps vs competitors during your trial
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