Xero helps transform the data you enter into actionable information at every subscription level. A dashboard provides a summary of your business’s financial health, including total cash in and out, outstanding invoices and overdue bills. Another page dedicated to short-term cash flow charts out how future bills and invoices can affect your bank balance over the next week or month. 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 includes extensive features that make it suitable to handle complex accounting processes for small- and medium-sized businesses as well as larger ones.
However, you do have to sign up for a free trial or pay for a plan in order to contact Xero. While Xero does provide email addresses for media contacts and mailing addresses for its physical offices, it doesn’t have a what is total quality management phone number or email address for potential customers. While Xero doesn’t offer payroll directly, it does integrate with Gusto. Gusto is cloud-based payroll software that can support businesses of all sizes, from contractors to enterprise organizations. You can add unpaid bills and purchase orders to Xero via desktop or mobile app, making it simple for small businesses to keep track of what they owe.
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To keep things organized, Xero logs every action users make and compiles the history of every transaction. Includes project tracking tools in most expensive plan; has transaction tracking tags; lacks industry-specific reports; users with multiple businesses must pay for separate subscriptions. All three plans come with an optional add-on for payroll with Gusto for $40 per month plus $6 per month per person. Xero’s cloud accounting software has features and tools to help you run your small business, so you can spend more time doing what you love. Xero offers a strong selection of accounting features — including invoicing, bill pay, and analytics — that are in line with the competition. Businesses that need full-service payroll can add payroll via Xero’s partner Gusto.
- Xero’s pricing structure is an excellent fit for growing businesses.
- Businesses that need full-service payroll can add payroll via Xero’s partner Gusto.
- Xero, FreshBooks and QuickBooks all offer 30-day free trials and extensive features for online support, including a live chat, email support and a knowledge base.
- If you purchase either the Growing or Established plan, you can add Xero’s inventory management system for an additional $39/month.
Bill pay
The Established plan is best for businesses that have been around for a while or companies that do business internationally. With this plan businesses can pay and get paid in multiple currencies, track projects, claim expenses, and access customized analytics and predictions. As with the Growing plan, businesses on the Established plan get unlimited invoices, purchase orders, and bills. Xero’s highly rated accounting app enables you to create and send invoices, monitor cash flow, and reconcile bank transactions directly from your phone. Unlike many other accounting applications, Xero does not base its pricing on the number of individuals who need access. In our view, this is one of Xero’s key differentiating factors, making it a great choice for growing businesses that are rapidly adding new employees.
Customizable reports and dashboards
These relationships do not dictate our advice and recommendations. Our editorial team independently evaluates and recommends products and services based on their research and expertise. Our partners cannot pay us to guarantee favorable reviews of their products or services. Based on where you are in your small business journey, you should be able to choose the plan most suited to your business and your circumstances. Xero’s easy-to-use features are designed to be the best for your small business. Make Xero online accounting software work the best way to suit your business.
However, the best option and price point will depend on the specific capabilities and features you are looking for. It is now required by the UK government that you use MTD compatible software when submitting returns as a VAT-registered business. Further MTD rules will be introduced around income tax returns in April 2026 and 2027. Get to know your finances with accurate, daily figures when you’re accounting online with Xero.
Everything is done in the cloud, meaning you can edit invoices without the hassle of resending them to customers. You can email invoices directly from the software; Xero integrates with PayPal, Stripe, Square and other payment processors, so you can accept payments online. These ratings are understanding current assets on the balance sheet meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. We encourage you to research and compare multiple accounting software products before choosing one. In the Early plan, the least expensive subscription, you can send up to 20 invoices and schedule up to five bill payments only. That can be limiting, even for freelancers and sole proprietors.
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. NerdWallet UK website is a free service with no charge to the user. Simplify your finances and get more done with Xero online accounting software.
Xero’s analytics features what are payment terms invoice and payment terms for small businesses show business owners short-term cash flow projections and a business snapshot to help them keep a pulse on how their companies are performing. Xero enables you to easily view the payment status of your invoices to see who has paid and what is overdue. You can also bulk import invoices from other accounting software to Xero so all your invoices are accessible from one place. Except for a few minor inconveniences, we were impressed with Xero’s invoicing capabilities.