Xero provides a comprehensive toolkit to handle your business finances. What sets Xero apart is its range of flexible plans tailored to fit different business needs:
- Starter: Priced at $29 per month, this plan includes up to 20 invoices and five bills each month—perfect for freelancers or very small businesses.
- Standard: Starting at $46 per month, it offers unlimited invoices, bills, and bank transactions, ideal for growing businesses.
- Premium: Beginning at $69 per month, this plan adds advanced features like expense tracking, project management, and multi-currency handling.
Xero also offers a 30-day free trial, allowing you and your team to explore its features and see how it fits your workflow before committing.
What Is Xero?
Xero is an online accounting software developed with small to medium-sized businesses in mind. It offers an array of features to help manage financial tasks like invoicing, expense tracking, bank reconciliation, and payroll. With a user-friendly interface and robust integrations, Xero stands out as a powerful solution for modern businesses looking to stay on top of their finances.
Key Features of Xero:
- Bank Reconciliation: Automatically import and categorize bank transactions.
- Invoicing: Create and send customized invoices with ease.
- Expense Tracking: Monitor and control business spending.
- Payroll Management: Manage employee wages and tax filings.
- Financial Reporting: Generate reports such as profit and loss statements.
- Third-Party Integrations: Connect with apps like Stripe, PayPal, and Shopify.
- Multi-Currency Support: Handle transactions in various currencies.
Xero Plans: Pricing and New Features
Starter Standard Premium
$29 per month $46 per month $69 per month
Send invoices and quotes All features in Starter plan All features in Standard plan
Enter bills Bulk reconcile transactions Use multiple currencies
Reconcile bank transactions
Capture bills and receipts with Hubdoc
Short-term cash flow and business snapshot
Claim expenses (starts at $4/month)
Track projects (starts at $7/month)
Analytics Plus
Recent Xero Updates You Should Know About
Bills Management: Managing bills in Xero has never been easier. You can now create multiple bills quickly by selecting files or simply dragging and dropping them directly from your desktop into Xero. The platform automatically generates draft bills with key details pre-filled and attaches the source documents, streamlining the entire process and saving time.
Practice Manager Enhancements: Xero Practice Manager introduces Client Insights, a valuable tool for accountants looking to expand their advisory services. This feature identifies clients who may benefit from timely conversations about emerging issues, allowing accountants to proactively address their needs and foster stronger relationships.
Fixed Assets Management: Xero now enables users to attach critical documents to their fixed assets. This includes purchase invoices, warranties, service records, and more, offering better organization and ensuring all asset-related information is readily accessible in one place.
How Xero Can Help Your Business
1. Simplifies Financial Tasks
Xero automates repetitive processes like bank reconciliation and invoice tracking, freeing up your time to focus on growing your business.
2. Improves Cash Flow Management
With real-time views of your cash flow, Xero helps you make informed financial decisions. Its integration with payment gateways ensures faster payment processing.
3. Enhances Collaboration
Xero allows multiple users to access the system simultaneously, making it easy for your accountant or team to collaborate on financial tasks.
4. Supports Tax Compliance
Xero’s tax tools simplify compliance by organizing financial data and generating reports for tax filing. It’s especially useful for businesses managing VAT, GST, or sales tax.
5. Accessible Anytime, Anywhere
Being cloud-based, Xero allows you to manage your finances from any device with internet access, providing flexibility for business owners on the go.
Xero Accounting Tools for Accountants and Bookkeepers
Xero HQ
Centralize your practice management with Xero HQ. It allows you to manage clients and staff from one place, providing real-time insights and notifications to keep you on top of your workload.
Xero Practice Manager
Improve efficiency with Xero Practice Manager, which helps streamline tasks like job tracking, billing, and scheduling. This tool ensures that your practice runs smoothly and effectively.
Xero Workpapers
Simplify compliance workflows with Xero Workpapers. It provides a structured platform to prepare and manage financial statements and compliance tasks seamlessly.
Xero Cashbook & Ledger
Xero Cashbook and Ledger offer a simplified solution for smaller clients. These tools are perfect for managing basic accounting needs while maintaining the flexibility to scale up as client requirements grow.
Xero’s Role in Enhancing Productivity
- Seamless Integrations: Xero connects with over 1,000 apps, including CRM tools, inventory management software, and e-commerce platforms, ensuring a smooth workflow.
- Customizable Dashboards: With Xero’s intuitive dashboard, you can view key financial metrics like cash flow, outstanding invoices, and expenses at a glance.
- Mobile-Friendly Platform: Xero’s mobile app enables you to send invoices, track expenses, and manage bank transactions on the go.
Why Xero Stands Out
- Intuitive Design: Xero’s user-friendly interface makes it accessible to users without accounting experience.
- Scalable Options: From small startups to growing enterprises, Xero offers plans that adapt to your business needs.
- Secure and Reliable: With multiple layers of security and regular data backups, Xero ensures your financial information remains protected.
FAQs
How does Xero compare to QuickBooks in terms of features and pricing?
Xero and QuickBooks both offer robust accounting tools, but their pricing and features vary. Xero provides unlimited users in all plans, while QuickBooks charges extra for additional users. QuickBooks offers more industry-specific templates, while Xero excels in ease of use and integrations.
Can Xero integrate with my existing CRM or ERP system?
Yes, Xero integrates seamlessly with over 1,000 third-party apps, including popular CRM and ERP systems like HubSpot, Salesforce, and Zoho.
What kind of customer support does Xero offer, and is it available 24/7?
Xero provides 24/7 customer support via email and an extensive online help center. While phone support is not offered, their response times are typically quick, ensuring you get timely assistance.
Final Thoughts
Xero empowers businesses with its innovative and easy-to-use accounting features. By automating key processes, offering real-time insights, and supporting tax compliance, Xero allows business owners to focus on what matters most—running and growing their businesses.
Whether you’re just starting out or managing a growing enterprise, Xero has a plan and tools tailored to meet your needs. Explore Xero today to see how it can transform your financial management experience.
