Xero has been awarded by Forbes twice as “World’s Most Innovative Growth Company” in 2014 and 2015. Currently, about 1 Million users choose Xero for their small business accounting. Xero is built on a double-entry framework, to let you track and manage sales, purchases, inventory, and payroll. It is equipped with 24/7 customer support with Automatic Back-up. It also manages Fixed assets, something its competitors like Quickbooks doesn’t offer. Currently, Xero has enabled project management feature and job-costing feature.
Xero offers a 30-day free trial (Without Credit Card) with DEMO COMPANY in case you don’t want to test the software by investing your business. If you get satisfied with their cloud accounting methodology, you can choose any three pricing levels on monthly basis:-
Starter (Price – 7$) – This Plan Offers monthly limits of five invoices, Bills, and quotes, reconciliation for 20 bank transactions but unsupported Payrolls.
Standard (Price – 30$) – This Plan Offers unlimited billing and invoice, Quotes, Transaction Reconciliation, and Payroll is limited to five people.
Premium (Price – 70$) – This plan adds multiple currency support and Payroll for up to 10 employees.
All of your data from Quickbooks can be easily switched over to Xero without much hassle. There is a learning curve in Xero if you switch from Quickbooks. Xero also has the ability to do hundreds of third-party app integrations like Shopify, BigCommerce, and Stripe.
Xero helps you deal with huge Bill payments and an interactive graph helps you decide which payments are to be paid and when. Staff payments and pensions can be tracked, managed, and modified easily and can be sent to pension bodies directly. It will also help you follow-up on your client’s activities and their status.
Dashboard – It sets objectives, tracks execution, and collects data from the platform to convey custom fitted reports. Continuous updates in graphs and charts will help you showcase your performance whenever you want to. The rapid access to crucial business measurements gives you the perfect insights to enable you to settle on exact business choices.
Easy Invoicing – You can set up your standardized business profile with logo and business information. You can set up your custom invoice templates and set up an automatic reminder of your preferred date when the invoice is overdue. Bulk Invoicing can be managed with ease.
Automatic Bank Feeds – Xero has an automated administrative system that can pull data from your online bank statements and sort them into categories. Xero will show you the bank statement feed and you just have to click “OK” to reconcile your bank account. But Journal entries won’t affect bank transactions.
Learning Process – It is not as intuitive as it seems and sometimes the functions would seem confusing to you.
Xero is a time saver in a lot of ways. Although Xero users have to undergo a step-by-step learning process, during functioning it manages our “stress-induced” tasks at ease. Xero is compact for all small and medium-sized business.