Introduction

Xero is a cloud-based accounting software designed for small and growing businesses. Xero Accounting software automates bookkeeping functions like invoicing and payroll and lets you connect the program to a live bank feed. It provides unlimited users for scalability as a company grows. Xero offers itself as a software-as-a-service (SaaS) mode that requires a subscription to access it. Xero Accounting software is accessible on several different platforms such as Windows or Mac computers, and mobile devices.

The technology company, Xero is based in New Zealand. Moreover, the offices of Xero company are in New Zealand, Australia, the United Kingdom, and the United States.  Xero was founded by Rod Drury and Hamish Edwards in Wellington in 2006.

Overview of Xero Accounting

Xero Accounting for Web:

Access from anywhere and anytime. Create an account and try the 30-day free trial.

A user-friendly interface. Beginners will not face any problems using it.

Xero Accounting for Android:

Features of Xero Accounting

Pay bill

Track and pay bills on time. Also, get a clear overview of your accounts payable and cash flow.

Claim expenses

Capture costs to submit and reimburse expense claims; view your spending with the expense tracker in Xero.

Bank connections

Easily connect your bank to Xero, set up bank feeds, and automate reconciliation.

Accept payments

Accept and speed up online invoice payments by connecting to Stripe, GoCardless, and other payment solutions.

Track projects

Keep track of costs and profitability with project and job tracker software; send quotes, and invoices, and get paid for jobs.

Pay runs

Keep basic pay records online, using Xero you can complete pay runs for a small number of employees, and run payroll reports.

Bank reconciliation

Keep account balances and financials in Xero up to date. Categorize and reconcile your daily bank account transactions each day using our suggested matches.

Manage Xero contacts

Manage customer contacts and look up a customer or supplier to see a full history of sales, emails, invoices, and payments.

Easily capture data

Get copies of original documents and key data stored in Xero automatically without having to enter the data manually using Hubdoc.

Files

Use Xero as your online file storage. Manage and share documents, contacts, bills, and receipts with colleagues and clients.

Reporting

Track finances with accurate accounting reports and you can collaborate with your advisor online in real time.

Inventory and online invoicing

Keep track of current stock using Xero’s inventory software. Also, populate invoices and orders with items you buy and sell.  The intuitive invoicing software allows you to send online invoices from your desktop or mobile app as soon as the job is done.

Multi-currency

Pay and get paid in over 160 currencies with multi-currency accounting and instant currency conversion.

Purchase orders

You can create and send digital purchase orders with the purchase order software in Xero. Moreover, by using cloud-based software keep track of orders and deliveries at every step.

Quotes

Create professional online quotes and share them through Xero.

Sales tax

Xero allows you to automatically calculate sales tax on transactions and use reports to prepare sales tax returns.

Analytics

Analytics lets you see future cash flow, check financial health, and track important metrics.

Accounting dashboard

Look up your daily finances using the accounting dashboard. Also track your bank account summary, account watchlist, business performance, and invoices.

Manage fixed assets

With zero easily track fixed assets and work with your accountant to manage them, keeping your books up to date.

Integrate apps

Use other solutions like Stripe, Hudboc, aider, Syft, etc that connect to Xero to run your business letter.

Xero Accounting app

Run your small business from anywhere and remain productive in otherwise unproductive moments with the Xero bookkeeping and accounting app for small businesses.

Pricing of Xero Accounting

System Requirements for Xero Accounting

Compatible with these Web browsers:

• Google Chrome
• Microsoft Edge
• Mozilla Firefox
• Safari

Xero Accounting for iOS:

• Requires iOS 15.0 or later.
• Compatible with iPhone, and iPad. Few features are available on the latest devices (Touch ID, 3D Touch).

Also, Xero has an authenticator app called Xero Verify.

Xero Accounting for Android

• Requires Android 9 ‘Pie’ operating system or higher.
• Google Mobile Services (GMS) device certification must be needed for the device.
• The manufacturer of the device must have a Google Mobile Services (GMS) licensing agreement.

Pros of Xero Accounting

• All plans permit an unlimited number of users.
• Have hundreds of third-party app integrations.
• Data is secured and stored in one place.
• Smooth tracking of project profitability.
• Includes intuitive interface.

Cons of Xero Accounting

• Constrained project management and delivery capabilities.
• Doesn’t offer a customer support phone number, but will call you if necessary.
• Pricing is high for advanced features.

FAQS about Xero Accounting

Final verdict

Xero Accounting comes with a variety of features. Xero Accounting’s accounting and bookkeeping is very easy for small businesses. These effective features will always keep your small business ahead of the competition in a world where the vast majority of small businesses fail in the first three years. Overall, Xero is a flexible accountancy package that can grow with your business and you will find it very easy to use.