In other words, if you need to do accounting for more than one business, you’ll need to purchase an account for each one. This is a real drawback for owners of multiple businesses or bookkeepers who work with multiple clients. The Early plan costs $15 per month and lets users send up to 20 invoices and schedule up to 5 bills per month. Other features include reconciling bank transactions and capturing bills and receipts with Hubdoc.
Pricing and features
We’re upfront about pricing, and provide full details of our pricing plans and optional extras. Where a feature is listed as an add on (like Xero Payroll, Xero Projects, Xero Expenses and Analytics Plus), its pricing depends on the number of users who use the add on each month. Xero is powerful online accounting software for US small businesses. Manage your cash flow, track expenses, accept payments online, and much more – all without leaving Xero. QuickBooks is a popular accounting software used by small businesses, solopreneurs and freelancers.
To keep things organized, Xero logs every action users make and compiles the history of every transaction. If your bank doesn’t already have a connection, you can import PDF statements. Keep in mind that the ability to use multiple currencies in the software and invoice is limited to the company’s highest tier, at $70 per month. If using multiple currencies is a priority to you, consider other platforms that offer this capability at a lower cost.
See cash flow at a glance
This layout makes the reconciliation process, among other accounting tasks, particularly easy. The software shows you potential transaction matches side by side, so you can immediately see if the match is accurate without having to click anything. 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. Run your small business from anywhere and remain productive in otherwise unproductive moments with the Xero bookkeeping and accounting app for small business.
Stay productive with the Xero Accounting app
After you start a free 30-day trial of Xero, you’ll activate the account and provide details about your business. Then, you can connect your bank accounts to Xero and decide if you’ll accept electronic payments for online invoices. Xero is a cloud-based, double-entry accounting software tool that is designed with small businesses in mind. More than 3.5 million users all over the globe use Xero to manage their billing and invoicing each month. In this Xero accounting software review, we’ll break down the pros and cons to help you figure out whether Xero is the right accounting tool for your needs.
Early plan
Xero may be harder to learn than a simpler invoicing platform like Square Invoices or Zoho Invoice. However, it’s generally considered easier than QuickBooks Online. Given that there are quickbooks accountant support several invoicing software on the market, it’s worth putting in some time to research your options before choosing one for your business. Access Xero features for 30 days, then decide which plan best suits your business.
Once you’re set up in Xero you can import all your data from your previous accounting software, including the chart of accounts, invoices, accrued revenue recording bills, contacts, and fixed assets. We recommend you work with an accountant or bookkeeper, preferably one with Xero experience, when you move to Xero online accounting software in the US. Xero has pricing plans to suit your business, no matter its size or stage. Xero accounting and bookkeeping partners can also offer basic plans to clients who just need the essentials.
- Your intro to financial admin, taxes, and the technical side of running a business.
- For free invoicing platforms, consider Zoho Invoice, Square Invoices or PayPal Invoicing, although these platforms provide fewer capabilities.
- Zoho, for example, is accounting software with a free invoice platform that allows you to bill in multiple currencies.
- With Xero, businesses can eliminate the need for paper records and reduce accounting fees.
- We’re upfront about pricing, and provide full details of our pricing plans and optional extras.
QuickBooks is available both online and via desktop and is ideal for businesses that outsource their accounting tasks to a bookkeeper or accountant. This is because QuickBooks only allows up to 40 users for its highest-tiered plan, and even then, some plans require every user to pay for their own account. Xero is ideal for businesses that keep a team of bookkeepers or accountants in-house. Unlike definition of debtor many other competitors that cap the number of users per plan (looking at you, QuickBooks), Xero offers unlimited users even on the lowest tier plan. This is beneficial to small businesses that need multiple people to be able to log into the accounting software and don’t want to pay extra or upgrade to get more seats.