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.
Table of Contents
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
| Plan | Pricing | Features |
| Starter | $25 per month | Send 20 invoices and quotes. Enter 5 bills. Reconcile bank transactions Capture bills and receipts with Hubdoc. Short-term cash flow and business snapshot. Claim expense: (optional) from $4 per month. Track projects: (optional) from $7 per month. Analytics plus: (optional) Try free for 4 months. |
| Standard | $40 per month | Send invoices and quotes. Enter 5 bills. Reconcile bank transactions Capture bills and receipts with Hubdoc. Short-term cash flow and business snapshot. Bulk reconcile transactions. Claim expense: (optional) from $4 per month. Track projects: (optional) from $7 per month. Analytics plus: (optional) Try free for 4 months. |
| Premium | $54 per month | Send invoices and quotes. Enter 5 bills. Reconcile bank transactions Capture bills and receipts with Hubdoc. Short-term cash flow and business snapshot. Bulk reconcile transactions. Use multiple currencies. Claim expense: (optional) from $4 per month. Track projects: (optional) from $7 per month. Analytics plus: (optional) Try free for 4 months. |
System Requirements for Xero Accounting
Compatible with these Web browsers:
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
Who is Xero suitable for?
Xero is suitable for freelancers, sole traders, and the self-employed. By connecting it to a bank account track the cash coming in and out, and save time on admin. Moreover, Xero is a great option for small, medium, and large businesses that need high-level accounting systems.
Is Xero Accounting free to use?
Xero Accounting provides a 30-day free trial. After 30 days you can decide which plan suits your business. Xero doesn’t require a credit card, you just need to provide your name, email address, and phone number. With a phone number, Xero will be in touch with you directly to help you get started on Xero.
Is Xero Accounting safe?
Yes, Xero is safe and secure. It stores your data securely and you have control over who has access. Using industry-standard data encryption your information is transformed into unrecognisable code.
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.