Popular alternatives, such as FreshBooks and QuickBooks Online, cost at least $15 monthly without introductory discounts. In contrast, Xero’s entry-level plan is slightly less expensive, at $13 per month. We loved Xero’s unique Hubdoc feature, which allows you to capture and store data from documents (see the screenshot below from our demo).
While the price may rule out the software for small businesses, Xero still has a lot to offer for medium and large businesses or those in need of multiple users. This review will detail the features, pricing, plans, and even how to do payroll in QuickBooks. If you just want to dip your toes into the water with some accounting software, then the generous first 3 months free offer from Sage should make it easy to do so. With Sage, regardless of which pricing plan you sign up for, you’ll be able to send as many invoices and bills as you need to. Xero partners with Gusto to add more HR functions, such as payroll services. With Gusto, you can onboard new hires, administer employee benefits, track hours and paid time off, run payroll, and automatically file payroll taxes.
Sure, Xero could use a few improvements—most notably, expense tracking for its cheaper plans—but with those features at that price, you’ll be hard-pressed to do better than Xero. At NerdWallet UK, we base our reviews and our ‘Best’ pages on https://personal-accounting.org/xero-review-features-pricing/ the results of surveys we undertook about what was important to people who use these products. This allows us to look at products impartially of any commercial arrangements we have and fairly rate the products on the same set of criteria.
In fact, the Xero experience on a tablet or smartphone seems to be generally good, especially considering its depth of data entry points. Zoho Books’ paid plans all come with free live chat and phone support. When reconciling books, Xero suggests likely matches between bank statement lines and transactions entered in the software. For example, if you have an entry for an invoice of $1,000 and a recent $1,000 deposit in your bank account, it might suggest matching these two transactions. Click the “OK” icon between the two to verify the match is correct. Xero doesn’t offer a free plan, though you can use the 30-days trial version or check a demo.
You can set multiple levels of user permissions and control feature access as well. The Established plan costs $78 per month and includes unlimited numbers of invoices and bills. Xero is a great QuickBooks alternative for budget-conscious small businesses. With its relatively affordable price points, you get features that you’ll only see in higher-priced plans of other accounting software. However, we found that Xero isn’t suitable for nonprofit entities or specific businesses needing multicompany accounting features.
However, they were not as comprehensive as what we found in our review of QuickBooks Online. Phone support is not available immediately; you must contact customer service first via email or live chat. Afterward, you may be directed to a phone-based rep for further assistance. Xero’s customer service scores 4.3 out of 5 on Trustpilot, with many users praising the fast response time.
Xero does provide an account to hold undeposited checks, but the feature doesn’t track when checks are removed and deposited and doesn’t allow cash to be added to the deposit. Though such a feature doesn’t impact the overall performance of Xero that much, not being able to group payments into bank deposits makes it difficult to reconcile your bank account. In the accounts receivable (A/R) management portion, we evaluated major aspects like invoice creation, inventory adjustments, and customer payments. For invoice creation, we found that Xero doesn’t give users the ability to customize the invoice in terms of invoice color, layout, and font.
One of the biggest complaints I had about Xero was that not all 50 states had payroll support. Unlike many competitors, Xero’s pricing and plans are based on features instead of user numbers. In fact, all of Xero’s plans support unlimited users, which is great for expanding businesses. Xero also integrates with over 1,000 third-party business apps – among the most integrations of any accounting software package we reviewed.
For heavily inventory-based businesses, we suggest an ERP like NetSuite ERP or Sage Intacct. Xero has recently updated its invoicing feature to offer more professionally polished invoices so you can add a logo or other branding information on the invoice. There is an option to create an invoice online that can be sent from your mobile device, or if you prefer, you can print the invoice and mail it to your customer. In addition, when you enter a new customer or vendor, you can add custom details such as a discount. Unlike Xero, QuickBooks allows unlimited invoices but the Simple Start plan is limited to one billable user and two accountant firm users. This means that QuickBooks is a good choice for businesses who only need one person to use the software but need to send a high volume of invoices and bills per month.
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