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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

(715)

Attribute Ratings

Reviews

(1-25 of 204)
Companies can't remove reviews or game the system. Here's why
March 18, 2024

Xero to Hero

Score 8 out of 10
Vetted Review
Verified User
Incentivized
Xero is an excellent place for your business financials and I would easily suggest it to others. I like that it makes running your business super easy, looks great, has excellent reports and can produce invoices on the go, quickly and accurately. The mobile app is also handy when away from my work station and has solved the on the go problem for my business
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Xero is one of the easy-to-learn accounting software that anyone could start and settle with! Even a teenager could learn on how to use it. Accountants and Bookkeepers who are new to the industry could give them a good boost on their profile if they have certification and fluency with using Xero. Xero is kind of one of the basic requirement
Melissa Lenos | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
If they are using foreign exchange I always use Xero. If I need reporting to be customized we always use Xero. If the client is already working in a software and it is working for them we will leave them in the software they are in.
March 01, 2024

Xero or Zero

Score 1 out of 10
Vetted Review
Verified User
There is absolutely no support. I think that the e-mail support is AI. the support "specialists" cannot resolve any issues. always kick the can down the road to the next person. Don't expect any help when you have an issue.
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.
February 06, 2024

Xero

Score 7 out of 10
Vetted Review
Verified User
Initial training was very brief and for first time users far from adequate. For those experienced in the use of accounting software perhaps Xero is intuitive but for novices it takes time to learn and the training videos are no substitute for being able to talk to an expert real-time.
February 02, 2024

Xero

Score 4 out of 10
Vetted Review
Verified User
I see this working best for very small organizations that work with other small organizations. Once you start growing and needing more features, Xero will not grow with you. You will have to resort to add-ons or transition to a new service. I do also wish they had more open communication about the future of Xero, and an extended road map of planned features so we can see what their developers are up to. They certainly don't seem to be making much progress on the feature list recommended by users!
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Xero is well suited to owner managed businesses from small one one bands to SME's. It helps to minimise the burden of day to day transactions with the bank feeds option and gives the user a degree of comfort when the bank in reconciled that all transactions are entered.

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.
January 11, 2024

Efficient User

Score 8 out of 10
Vetted Review
Verified User
Incentivized
As a small to medium-sized enterprise, our team of 10 staffs relies on Xero daily. The bank feeds for swift reconciliation, seamless upload of credit card expenses, and the ability to attach documents to pertinent transactions significantly aid our workflow and efficiency. User access levels are restricted, causing either minimal or full Restricted user access in Xero creates a binary access system: limited or full access for staff. This setup poses confidentiality risks; accessing accounts receivable reports grants full access to sensitive bank balances, potentially compromising confidential financial information due to the lack of nuanced access permissions.
Angie Martin | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
I frequently recommend Xero to a diverse range of clients, including fashion brands, digital marketing agencies, medical professionals, artists, and more. Xero proves to be a cost-effective solution for actively managing business finances. Its versatility makes it well-suited for any industry, seamlessly growing with the business to offer continuous support. In cases where a business is just starting out and financial constraints are a concern, I may suggest alternatives like Wave. However, in most situations, Xero remains my top recommendation.
Darrell Bruxvoort | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Xero is a fine bookkeeping software for small businesses and is really built around that task. It will quickly out the financial statements with the ability to add key drivers with the use of Word and PowerPoint.

Just like QuickBooks, it does not have the internal controls to push it to the next level of software, such as WorkDay, NetSuite, etc.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Xero is excellent for a small business. In my experience, it's a great tool to allow a small number of users to see what accounting tasks need attention. As an example, if two users are responsible for paying bills the user can very quickly see if the other user has paid a specific bill. I don't have sufficient experience with a larger corporation but assume the lack of a pricing tier based on customer is a significant disadvantage of the software as is the difficulty with inventory management.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Xero is effective for a small to medium size business with not very much complexity; but it does offer enough power to do actual accounting work within the business' books; you can make GL adjustments, it has a full memory of all transactions and adjustments should an auditor wish to see everything that has happened - though this might not be what you're looking for ;) - and is overall an effective accounting tool.

There are some minor usability gripes which, when compounded over months and years, cause many hours of what I believe to be unnecessary work.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We are a small firm, with no internal accounting expertise, Xero is truly an "outsourced like" accounting package. A number of automated tasks make monthly reconciliation very easy. It is simple to use and understand. Search is typically simple, with a few anomalies, when looking for historical data, but that is rarely an issue. I am a very satisfied end user and recommend Xero to all small firms.
December 11, 2023

Xero is the new ten.

Andrew Campbell | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
I shill for Xero every chance I get. It is so superior to its competitors. There are only two situations where I don't recommend Xero. First, for the not-very-ambitions DIY'er, there are simpler solutions out there ---- I think TrulySmall and FreshBooks are better for folks who don't know anything about bookkeeping and are trying to do it themselves --- TrulySmall is as close as you can get to idiot-proof books. And then for those folks who, because of size or industry, really need more power than Xero has, maybe QB can do it without having to go further upmarket. But if you need that much juice, you should also have an in-house bookkeeper at least half-time. For folks like me, who work with that part of the market between the DIYers and those with in-house bookkeepers, Xero is the beginning and the end of the discussion as far as I'm concerned. Friends don't let friends use Quickbooks.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
As a small business without an in-house accountant Xero make it easy for us to keep our accounts up to date and magae our customer billing without having to spend hours and hours pouring over paperwork.
Invoicing of customers is very easy and means we can send quotes and invoices to customer quickly and easily.
When payments come in the can be reconciled with a quick button-press which saves us loads of time over the month.
December 08, 2023

Xero is a great tool

Score 10 out of 10
Vetted Review
Verified User
Incentivized
My previous job asked for an expense sheet with original receipts and took 45 days to turn expenses around. In this role, using Xero, much of the admin has been digitized and automated, making the recording of the data easier and timely.
Nicholas Fenmor Collins | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
All size businesses can benefit, but it particularly suited to SMEs who need to streamline their procedures and connect data across multiple applications and various bank accounts. The multi-currency feature is great even if paying software licences in dollars for example. Xero is less suited should you need to manage stock from the platform, but most businesses would connect a dedicated app to handle this side of things.
James Randall | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
It's well suited to generating reports for profit and loss, you can get an at a glance overview of the business and how it is performing with right up to the minute information, the direct link to our business bank account is extremely valuable and takes the pain out of transaction reconciliation.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
I think it would be excellent for sole traders and very small businesses. The pricing is good and the features are well suited to smaller operations, where it falls down is for SMEs (like us) who don't need a really advanced accounting software but something a bit more featured than Xero. It does integrate well with other applications, so that is the sole reason we went with it.
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