To get these you have to upgrade to Zoho’s Professional plan at $40/month, almost on par with what Xero costs. We recommend you regularly back up and export your data to a different system during the notice period so you don’t lose valuable data just because your subscription has ended. It captures information like distance, cost, description, and the amount spent and pulls it into a claim.

Accounting software for your US small business

Xero provides multiple layers of protection for the personal and financial information you entrust to Xero accounting software. Security is a priority for Xero, as we know it is for you, so it’s also important you also take steps to safeguard your data. While Xero’s plans start at a cheaper price, QuickBooks offers more features across its plans. Then again, QuickBooks requires user limits for each plan while Xero doesn’t. We compared the two options in terms of their key features, pricing and customer service to help you decide which is right for your business. Xero, FreshBooks and QuickBooks all offer 30-day free trials and extensive features for check the status of your refund online support, including a live chat, email support and a knowledge base.

For example, if you’re billing your client based on hours worked, you can attach your time report along with the invoice. That said, if streamlining your workflows is a priority, Zoho Books may be a better option since it lets you create quick automation rules with several triggers and actions. Similarly, Xero may not offer all the advanced reporting features you need if you’re a large organization. Xero and QuickBooks have similar pricing, except when it comes to QuickBooks Desktop.

Xero Accounting Review 2024: Pricing, Features, Alternatives

You can create and track invoices, build client quotes, track time, reconcile your bank accounts, and approve expenses. The mobile app works with Xero accounting software to help you run your small business from anywhere. Keep track of your unpaid and overdue invoices, bank account balances, profit and loss, cash flow, and bills to pay. You can also reconcile bank accounts and convert quotes to invoices. The mobile app is free with every subscription, and is compatible with iOS and Android. a small-business guide to common sources of capital Xero and QuickBooks are both great accounting software options for small businesses.

Bank Reconciliations

Plus, Xero supports unlimited users at no additional cost — a rarity in the accounting software world. Xero is a popular accounting software solution tailor-made for small businesses. It lets you record and send invoices, manage payments, and reconcile bank transactions. You can even build quotes, track project statuses, and pull ready-to-use meaningful reports in minutes. Additionally, Xero is very affordable, making it ideal for those on a tight budget. Xero is one of the best small business accounting software, with a lot of key and easy-to-use accounting features.

1. However, it’s generally considered easier than QuickBooks Online.
2. You can then quickly add saved items to invoices and quotes by simply typing their names – you don’t need to enter the details every time.
3. Xero’s Premium plan ($62/month) comes with everything Xero has to offer.
4. Run your business from anywhere with Xero’s easy accounting app.
5. We also found handy options to deselect parts of the quote you do not want the client to see.

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Click the “OK” icon between the two to verify the match is correct. Our partners cannot pay us to guarantee favorable reviews of their products or services. Today’s leading accounting platforms offer standard security features like data encryption, secure credential tokenization and more. While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe. Given that there are several invoicing software on the market, it’s worth putting in some time to research your options before choosing one for your business. We’ve compared Xero with its competitors to help your search.

Yes, the Xero accounting system is worth your time and investment. With an overall score of 4/5 in this review, Xero is a good solution for mid-to-large-sized businesses in need of strong accounting features and multiple users. Take advantage of Xero’s free trial to see if this accounting solution is right for you. If you’re still on the fence, check out our picks for the best small business accounting software to compare your options.

There’s also a 30-day free trial, so you can test the platform without risking a single penny. You can then add cash basis accounting vs accrual accounting individual tasks within the project with the estimated time and hourly rate. Xero accounting software also allows you to add expense estimations to a project. Xero also lets you add a ‘Pay Now’ button to your invoices, enabling clients to make payments directly. Xero’s integrations with Stripe and GoCardless allow you to accept credit cards and direct payments. You can quickly create an invoice online – simply fill in your customer details, date, and description.