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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 …
Continue reading
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

(718)

Attribute Ratings

Reviews

(1-25 of 202)
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
My business uses Xero as a gauge for all financial optics. It helps manage monies in and out, account visibility and solves invoicing easily as a one stop shop. Xero is easy to use with a quick learning curve, has a great dashboard and excellent reports. The pre-defined reporting filters help me keep a close eye on the whole business
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Xero for our bookkeeping services and we are also tracking are invoice histories with it. In invoicing, we can always keep and verify our previous invoice to clients and provide them with copies if they need it. We provide clients with monthly reports and annual reports of their books. Also, we don't just use Xero for current year books, we can use it for previous years bookkeeping services! We can also pick up if they have their books currently recorded so we can assist and provide service with reconciling them.We can also provide access to our clients with their Xero Financials so they can have an easy access to their financials progress in real-time.

Melissa Lenos | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
We use Xero every day, we use it for our own bookkeeping for our company as well as with 100 other companies that we do bookkeeping for. We have been able to create customized reports so that our clients can get the information that they need from their bookkeeping. We also have been able to utilize Hubdoc so that our clients have an easy way to get us their receipts!
March 04, 2024

Xero the Hero

Score 10 out of 10
Vetted Review
Verified User
Incentivized
I use Xero for invoicing, reconciling our monthly revenue and spending, and providing our accountants with the information they need for our various tax returns and payments. It’s a great tool for helping us compare and track our revenue with previous quarters and years and simply automates the way we receive payments and track our expenditures and revenue.
March 01, 2024

Xero or Zero

Score 1 out of 10
Vetted Review
Verified User
I use it as an accounting program. <br>The program constantly loses the ability to connect to my bank. When reported this problem takes over a month to resolve. I have had this problem 3 times in 6 or 7 months.<br>The support is useless as they only recite pre-approved answers. Xero never takes responsibility for Yodlee, the program that connects the bank to Xero.<br>I understand it is not their program, but they sell their program with Yodlee, so there should be some kind responsibility and accountability.<br>When I asked to talk to someone about the problem, a chap called me out of the UK and could only apologize but could not offer any solution or way forward. He was basically one of the support staff that e-mail you apologies.<br>I then sit with 2 months of transactions I have to catch up on. <br>I get no financial help, or discount for the times I cannot use the program. "Just download your bank statement and import it" they say! Easier said than done and you end up spending half a day trying to put the statement into a format that Xero can import. Then you spend half a day trying to find out what was not imported!<br>If you are looking for an accounting system, look for one in your country with telephonic support. Go through the reviews and look for patterns like "lack of telephonic support" or "Only e-mail support available".<br>Xero also only offers 20 invoices on the entry level program, Costs you double to have unlimited invoices or even enough invoices to run a small company for a month (one competitor offers invoices on the entry level and is better known for the same price). You would think that being such a big world-wide company they would offer something like invoices. It is an absolute joke as to how they just want to reduce your bottom line and increase their bottom line without giving any support.
February 02, 2024

Xero

Score 4 out of 10
Vetted Review
Verified User
It is an accounting system we use for billing, paying bills, and producing financial reports. It also has payroll capabilities, but I am not familiar with its abilities in that area. For the most part, it is very intuitive and easy to get up and running quite quickly. I particularly enjoy their customizable reports. Unfortunately, there are a lot of small, seemingly easy to implement recommendations that the Xero team have failed to implement after several years. Their statements for clients don't have an aging summary. Their quoting system does not send out reminders. There is no ability to route invoices to one email and quotes to a separate email. There are a lot of little important things missing that add up to a lot of frustration and manual input.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
I use this alongside and on behalf of a number of clients, for management accounts, VAT returns and to a lesser extent wages.

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.
January 11, 2024

Efficient User

Score 8 out of 10
Vetted Review
Verified User
Incentivized
Xero caters excellently to businesses of various sizes, offering a remarkably clean interface that's incredibly user-friendly, even for beginners. The fresh and straightforward layout is particularly enjoyable. Furthermore, Xero provides robust support through comprehensive online resources, including articles and websites, allowing users to submit queries and receive prompt assistance. We rely on this system daily and appreciate the multitude of fantastic features it offers.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We are an accounting firm that uses Xero internally and for our clients. For my position, I am in billing for the firm, so I work in invoicing and reconciliation. Using Xero has been such a great help. We made the switch from QB years ago and have never looked back. We refer all clients to Xero and require they switch to Xero from QB, unless there is third part app integration that Xero has not yet partnered with. The ease of reconciliation and running of reports saves me so much time. Any mistakes that I make or changes that need to be made are easily done in the software. Xero support has always been great as well.
Angie Martin | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
I utilize Xero in my mentoring practice to aid my clients in tracking expenses, managing payroll, and making strategic financial decisions crucial for business growth. Xero serves as a comprehensive tool, offering easy accessibility across devices, enabling efficient financial management, and providing valuable insights for the entire business team, from bookkeepers to CEOs.
Darrell Bruxvoort | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
We have many emergency facilities throughout the U.S (23 and counting). The facilities choose which accounting software they want to use if they do not want to use the default standard - WorkDay. One of our facilities chose Xero. So 1 out of 23 facilities was using Xero.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Xero is an excellent tool to ensure all accounts payable and receivables are current. Additionally the financial statements help to determine the position of my business. The latter is a powerful tool that assists with decision making and identified areas I should focus attention on. As an example, the profit and loss report can reveal areas where costs are higher than expected.
Score 1 out of 10
Vetted Review
Verified User
I find Xero a nice to have program/platform, however there are a few aspects that need to be addressed as a matter of urgency. 1. Invoice numbers does not update automatically. Numerous invoice numbers are skipped by the program then the user now have to leave all else and go and update the invoice numbers to follow chronologically. This is nonsense. Xero surely have expert IT personnel, have them fix this issue, lock the numbers in order to update automatically. 2. Why are cancelled and or deleted invoices, quotes, and purchase orders left on the system? Why can they not be deleted permanently, alternatively have a seperate heading for all cancelled/deleted documents.3. Nowhere is there a function to add the company Terms & Conditions to Invoice, Quotes and Statements. Neither can a link be inserted to a web URL where the client has to accept the T's & C's. I have researched this issue on the Xero website, blog and various internet links, apparently there is no "fix" for this issue that have been implemented or available in the near future. This is outrageous and unheard off. A line or two of code, where is your IT specialists, let them fix it, not that difficult. 4. Emails being sent from Xero to the client: Why is there no option to insert my business card in image format at the bottom of the email?? Neither can I insert a link to our company T's & C's for clients to accept. Terms and Conditions are the backbone of any and every business be is a SME or a Corporate Company. Fix this email issue, not that difficult, merely a few lines of code..!! Yet Xero expect us as users to promote Xero to other companies knowing these flaws exist for a number of years already and to date, December 2023 nothing has been done by Xero to address these flawed aspects.No Sir, not in my job description to promote a flawed product.
Score 7 out of 10
Vetted Review
Verified User
Incentivized
Needed to right-size the accounting system to something that automates as much as possible. This software is used for all aspects of financial management; it synchronizes with my time-tracking and project management software, sends recurring invoices for monthly work, automates A/R follow up, manages A/P and thus helps manage cashflow. Overall happy with these features.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Xero is the overall accounting platform for all Corporate activity. The strength is the integration to other required apps. Payroll, expense management, quarterly tax preparation and submission are all easily integrated into the necessary accounts. Other than a part time bookkeeper, there really is no need for further internal staff. Xero is reviewed by an external accounting firm and the effort is minimal to reconcile on a monthly basis. The dashboard layout is simple to customize and use - in short, meets all accounting requirements in one place.
December 11, 2023

Xero is the new ten.

Andrew Campbell | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use Xero for all our bookkeeping clients. We do weekly bookkeeping and monthly reporting for some, but Xero also works great for write-ups with their Ledger product. The biggest problem that it addresses for us is that it prevents clients from making a mess of their books. A lot less can go wrong in Xero than in QB, and it's a lot easier to fix when it does.
December 08, 2023

Xero is a great tool

Score 10 out of 10
Vetted Review
Verified User
Incentivized
Xero is used to manage expenses within the organization. There are 3 main teams that use the software; Operations, Sales & Marketing and Account Management. All 3 teams are regularly out traveling to events or to visit clients. Processes have been set up to ensure that claiming expenses is a quick and easy process. Employees take a photo of their receipts immediately after expenditure and log the expense under the relevant codes, set-up by the finance team. At the end of the expense period (for us a calendar month) all receipts would be submitted for approval and payment.
Nicholas Fenmor Collins | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We use Xero for full accountancy and payroll. It's connected to several apps to allow us to manage expenses and cashflow. We were an early adopter of Xero and introduced our accountants to it. We love the clarity and flexibility (with control) that Xero gives us...and it's so cost effective too.
James Randall | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We use Xero for our day to day account needs, it helps us to follow cashflow easily and makes our end of year accounts a simple task. Prior to Xero we used a number of spreadsheets which did not offer anywhere near the functionality Xero does. It truly simplifies all of our accounting processes and means I can run a report on pretty much any aspect of the company within minutes.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
Our previous accounting software was built on old technology and required on-premise servers to run, Xero being a SaaS solution was key to us. We use Xero as our core accounting software. We integrate it with our ERP system and all invoices, purchase orders, returns etc. flow through it. We also use it for our HMRC MTD returns, debt chasing and for reporting.
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