While the software is well-organized, it does have a steep learning curve (not as steep as QuickBooks, but it is more difficult to learn than other cloud-based options). It takes quite a while to explore all of the features it has to offer, but once you get acquainted with the software, Xero is fairly easy to use. Getting started is the most difficult part, and it’s this learning curve top budgeting software 2021 that lowered our ease of use rating to 3.8/5.
Best Accounting and Bookkeeping Apps for Small Businesses
Xero’s simple invoicing tool (Figure A) makes it easy to upload your logo and choose from several branding themes, but I’d love to see more extensive customization options. Xero does offer an invoice template to help get you started, and you can choose to create and save your own templates. Once customers receive the invoice, they can pay you directly from it by clicking the “pay now” button and using a credit card, debit card or direct debit. You can also accept payments from popular services such as Stripe and GoCardless.
The tool also lets you adjust the time frame to see how your business has changed over time. Users that are new to bookkeeping won’t be overwhelmed by Xero’s simple and easy-to-navigate layout. 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.
Support
Information is gathered on a regular basis and reviewed by our editorial team for consistency and accuracy. 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. For unlimited invoicing and bill-paying capacity, you’ll need to upgrade to the Growing plan.
It requires a lot of manual data entry and can suck up far too much of your time and effort. This doesn’t add value, and takes the fun out of being in business. With a regularly updated appearance, and new features being added all the time even during the coronavirus pandemic, Xero continues to expand its popular appeal and now enjoys a healthy following. If you’ve got a business that’s going places, needs dynamic accounting capacity and the ability to add in multiple users then the newest version of Xero requires further investigation.
Project and time tracking
Xero looks to be shaking up its pricing structure and strategy in the coming months. Currently, if you’re looking to sign up with the service in the US then the Early plan costs $11 per month. This gets you 5 invoices and quotes, lets you enter 5 bills and reconcile 20 bank transactions. Xero is cloud-based accounting software that has given QuickBooks a run for its money since 2006.
- If you’re looking for an accountant who specializes in Xero, you can search for an accounting advisor through their website by location and industry.
- We collect the data for our software ratings from products’ public-facing websites and from company representatives.
- Unlimited users and advanced features make this cloud accounting software platform a good fit for many small businesses.
- Xero tries to throw you as many bones as possible by adding a video or help article to the top of every page you open.
This is much more secure than the old-fashioned way of emailing your files or sending out a USB stick with your data on it. In the cloud, there’s no need to install and run applications over a desktop computer. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities.
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