Xero Accounting Review 2024: Pricing, Features, Alternatives

The mobile app is free with every subscription, and is compatible with iOS and Android. QuickBooks is available both online and via desktop and is ideal for businesses that outsource their accounting tasks to a bookkeeper or accountant. This is because QuickBooks only allows up to 40 users for its highest-tiered plan, and even then, some plans require every user to pay for their own account. Xero is ideal for businesses professional bookkeeping online bookkeeping services that keep a team of bookkeepers or accountants in-house.

Can I pay for Xero annually?

Both Xero and Sage are cloud-based subscription services that can handle invoicing, cash flow tracking and quotes and estimates. Sage seemingly offers unlimited quotes and invoices each month, while Xero limits you to just 20 on the base plan. Xero accounting software is a cloud-based system that helps small businesses manage their finances. This means it can be accessed from any internet-connected device.

1. The mobile app works with Xero accounting software to help you run your small business from anywhere.
2. This can be great for freelancers doing a ton of business each month.
3. After you start a free 30-day trial of Xero, you’ll activate the account and provide details about your business.
4. Plans are affordable, starting at $13 per month, but no free plan.
5. We recommend you work with an accountant or bookkeeper, preferably one with Xero experience, when you move to Xero online accounting software in the US.
6. While the two both offer similar features, such as tax management, financial reports, integrated payroll, inventory and file storage, the two are not without their differences.

Customise and grow with your business

Xero’s online accounting software is designed to make life easier for small businesses – anywhere, any time. Log in what is a bank reconciliation anytime, from anywhere, to send invoices, pay bills, and manage your cash flow. Kristy Snyder is a freelance writer and editor with 12 years of experience, currently contributing to the Forbes Advisor Small Business vertical.

QuickBooks Online is limited to 25 users on its most expensive plan but is easier to use, offers tax support, and has stronger mobile apps. Xero no longer includes payroll — although a paid Gusto add-on is available — and it has limited some features (such as expenses and multicurrency support) to its most expensive plan. We encourage you to research and compare multiple accounting software products before choosing one. FreshBooks offers unlimited time-tracking in its lowest-tier Lite plan, whereas Xero users would have to opt into the highest-tier Established plan for that feature. Xero lets new customers sign up for a 30-day free trial to test out its features. You can add Gusto payroll to any plan for an extra $40 per month, plus $6 per month per person.

Xero and Sage are two excellent accounting options for small businesses looking to get their finances in order. Both made our list of the best accounting software because of their invoicing capabilities and bank transaction reconciliation. We compare Xero vs. Sage so you can decide on the perfect accounting solution for your needs. However, Xero is the better choice if you want more advanced features and support for unlimited users, as additional users are only available for a fee if you use FreshBooks. Unlimited users and advanced features make this cloud accounting software platform a good fit for many small businesses. After you start a free 30-day trial of Xero, you’ll activate the account and provide details about your business.

Popular features

These companies offer Gusto integration for the same price—$40 per month and $6 per month per person. On the other hand, FreshBooks may be a better fit for freelancers and solopreneurs, as the capabilities are easier to navigate. The Early subscription is tailored for solopreneurs and business owners who are just getting started.

Keep in mind that the ability to use multiple currencies in the software and invoice is limited to the company’s highest tier, at $70 per month. If using multiple currencies is a priority to you, consider other platforms that offer this capability at a lower cost. Zoho, for example, is accounting software with a free invoice platform that allows you to bill in multiple currencies. Sage’s accounts payable features are good, as they show you your current cash in, cash out and balance totals. The bank reconciliation feature should automate your transactions, but it the accounting equation may be expressed as would be nice to schedule payments all in the same place. NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business.