What Is Xero?

Award-winning online accounting software designed for small business owners and accountants. Available on any computer or mobile device with an internet connection. Business finances and cashflow are updated in real time. Imports transactions from bank accounts. Unlimited user logins. Integrates with over 1,000 3rd-party business applications. Supports multiple currencies. Data is accessible through a single ledger, allowing accountants and clients to collaborate around finances.

Who Uses Xero?

All small and medium sized businesses and accounting & bookkeeping practices.

Where can Xero be deployed?

Cloud, SaaS, Web-based, Android (Mobile), iPhone (Mobile), iPad (Mobile)

About the vendor

  • Xero
  • Founded in 2006
  • 24/7 (Live rep)
  • Chat

Countries available

Australia, Brazil, Canada, China, Germany and 9 others

Languages

English

About the vendor

  • Xero
  • Founded in 2006
  • 24/7 (Live rep)
  • Chat

Countries available

Australia, Brazil, Canada, China, Germany and 9 others

Languages

English

Xero videos and images

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Features of Xero

  • "What If" Scenarios
  • ACH Payment Processing
  • Access Controls/Permissions
  • Accounting Software
  • Accounts Payable Software
  • Accounts Receivable Software
  • Activity Dashboard
  • Alerts/Notifications
  • Approval Process Control
  • Approval Workflow
  • Asset Accounting
  • Automated Quoting
  • Bank Reconciliation
  • Billing & Invoicing
  • Budgeting/Forecasting
  • Calendar Management
  • Case Management Software
  • Cash Management
  • Check Printing
  • Check Processing
  • Check Writing
  • Client Management
  • Client Portal
  • Compliance Management
  • Consolidation/Roll-Up
  • Contact Database
  • Contact Management Software
  • Contract/License Management
  • Core Accounting
  • Cost Tracking
  • Cross Ledger Posting
  • Customer Statements
  • Customizable Branding
  • Customizable Invoices
  • Customizable Reports
  • Data Import/Export
  • Direct Deposit
  • Discount Management
  • Document Management Software
  • Drag & Drop
  • Due Date Tracking
  • Dunning Management
  • Duplicate Payment Alert
  • Electronic Payments
  • Expense Management
  • Expense Tracking
  • Fee Calculation & Posting
  • Financial Analysis
  • Financial Management Software
  • Financial Reporting Software
  • Fixed Asset Management Software
  • Forecasting
  • Fund Accounting Software
  • General Ledger
  • Income & Balance Sheet
  • Inventory Control Software
  • Inventory Management Software
  • Inventory Optimization Software
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • Mobile Access
  • Mobile App
  • Mobile Payments
  • Multi-Currency
  • Online Invoicing
  • Online Payments
  • Order Management Software
  • Overpayment Processing
  • Partial Payments
  • Payment Processing Software
  • Payroll Management
  • Payroll Reporting
  • Price / Margin Management
  • Pricing Management
  • Product Identification
  • Profit/Loss Statement
  • Project Accounting Software
  • Project Management Software
  • Purchase Order Management
  • Quotes/Estimates
  • Real Time Data
  • Real Time Reporting
  • Receipt Management
  • Receivables Ledger
  • Recurring/Subscription Billing
  • Reimbursement Management
  • Reorder Management
  • Reporting/Analytics
  • Requisition Management
  • Search/Filter
  • Self Service Portal
  • Shipping Management
  • Sourcing Management
  • Spend Management Software
  • Status Tracking
  • Supplier Management
  • Tax Calculation
  • Tax Compliance
  • Tax Management Software
  • Template Management
  • Third Party Integrations
  • Time & Expense Tracking
  • Time Tracking Software
  • Transaction History
  • Vendor Management Software
  • W-2 Preparation

Xero Alternatives

Sage Business Cloud Accounting is a simple yet powerful online accounting solution designed for small business owners.
The #1 Accounting Software and Financial Management Solution. Built for Finance by Finance.
Sage 100cloud is an ERP platform for growing and medium-sized distributors and manufacturers.
Easy & affordable online accounting software for small businesses. From invoices to paying employees - you're covered for just $10/mth.
A better way to manage your entire business, at a lower cost and on a global scale.
Cloud Inventory and Accounting Software specialising in large Inventories for small businesses. Australian owned and Supported
Cloud accounting practice software, with data entry wizard and corporate tax filing capabilities for filing of UK taxes.
FreeAgent has been voted the UK’s #1 accounting software for small business owners. (Accounting Excellence Awards 2020)
A single, cloud based solution for workforce planning, analysis and execution.
Ideal for small businesses & freelancers, the web-based billing solution helps send and accept payment invoices, manage expenses & more
MYOB Advanced business management software is tailored to mid-sized businesses & integrates real-time data across your entire business.
Business management solution that includes features for financial forecasting, supply chain optimization, and project planning.
Accounting tool that provides multi-monitor support and past due stamps through improved cash flow.

Reviews of Xero

Average score

Overall
4.3
Ease of Use
4.2
Customer Service
3.9
Features
4.2
Value for Money
4.2

Reviews by company size (employees)

  • <50
  • 51-200
  • 201-1,000
  • >1,001
Kathryn H.
Kathryn H.
Owner in US
Verified LinkedIn User
Arts & Crafts, Self Employed
Used the Software for: 1+ year
Reviewer Source

Alternatives Considered:

Affordable professional level accounting software for small business

5 3 years ago

Comments: It's been easier to use Xero than I expected, but I had a nasty surprise at tax time when I realized the default accounts/descriptions for expenses did not correlate 1:1 to IRS categories. (I should have checked this more closely when I set up my accounts because it's a New Zealand company, and the previous product was local.) This means I will need to double-check all my transactions for 2018 and the IRS has my vastly overestimated tax payment until I can do that and file my return on an extension. I've had a much better experience importing data from financial institutions because Xero uses a well-known importing service that is trusted by the institutions. I like being able to match multiple invoices to bank deposits because I usually don't run to the bank for each check. This will be more valuable as my company grows. I should probably find an accountant to assist me with this, but I haven't found an accountant who understands both craft businesses and Xero.

Pros:

Professional double entry software at a very affordable price Accommodates both cash and accrual accounting Links to financial institutions to get transactions Uses standard importer recognized by the financial institutions instead of just trying to log in remotely (and triggering fraud alerts) Can match multiple invoices to a single deposit transaction imported from bank Can keep using Xero as company grows

Cons:

Pre-existing expense categories/descriptions don't map 1:1 with IRS definitions, so I'm having to go back to all my receipts to make sure expenses are entered in proper accounts because I didn't realize this when I switched More difficult to focus on specific expense categories to check transactions Have not been able to import historic data from previous app (possibly because it's not double entry) so I am still paying the subscription on that software to retain access to my data No integration with Craftybase, so I have to enter supply purchases and customer invoices there independently

Andrew W.
Creative & Managing Director in Australia
Marketing & Advertising, 11-50 Employees
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

Xero makes finance so easy

5 2 months ago New

Comments: Since starting with Xero over six years ago, we couldn't be happier. We've centralised all our financial activity into one platform, which is great for non-finance people like myself!

Pros:

Xero makes managing the finances for a business really straightforward. The user interface is intuitive and it centralises all my accounts information. One of my favourite features is the the dashboard, which is clear and customisable, and gives a great summary of the position position at any time. The software also integrates really well to other platforms for things like receipt capture and detailed business analysis.

Cons:

I'm really happy with how it performs, however, our bookkeeper still does some levels of manual reporting, which he finds easier in Excel, than in Xero. The integration of BA tools does negate this issue.

Amanda M.
accounting and admin in Canada
Food Production, 2-10 Employees
Used the Software for: 2+ years
Reviewer Source
Source: SoftwareAdvice

if you have bills and invoiced with a product list over 40 lines - this system is not for you

1 last month New

Comments: the concept is good the IT is not.

Pros:

It's easy to learn, very strait forward.

Cons:

when a bill or invoice is larger then 2 pages, if you save, you will not be able to edit, approve or print. also putting in a ticket for a fix is completely useless the responding staff care and are friendly- but the problem does not get fixed. I've put in several tickets. I've always had to find a work around, no one has ever fixed my problem

Mahnaz A.
Business Manager in Australia
Education Management, 51-200 Employees
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

Xero use in a School

5 2 months ago New

Comments: Reconciliations are so much easier, integrating with other products is so much easier, there are so many apps which can easily integrate into Xero.

Pros:

Xero is very easy to navigate around and is user friendly. Even a non-finance employee is able to use Xero. The product is able to integrate seamlessly with a school management system importing invoices and contacts which are managed in the school management system. The integration is almost automatic and does not require a user to sync. AMAZING PLATFORM!

Cons:

Nil - Honestly there is nothing I dislike about Xero.

Zsolt S.
marketing manager in Hungary
Health, Wellness & Fitness, Self Employed
Used the Software for: 6-12 months
Reviewer Source

Would be perfect with a few tweeks.

5 2 months ago New

Comments: It is still good, better then Kashflow which is like from 1780. Or at least it feels like it is. It has great feautures that need tweeking. And it is also recognized worldwide which is so good. Collecting feeds from all the cards is good.

Pros:

What I like most is that it has access to realtime feeds from all the company accounts. This is futuristic stuff in my country of Hungary. But I can look at all my balances and see if I have enough money for a purchase or not.

Cons:

It doesn't really handle subscriptions well... and you guessed, it, I sell subscriptions. What is the least favorite part is the reconciliation. I sell the same thing, many times (as you do with subscriptions) and there is no way that I found where I do not have to take the so many hours of reconciling everything manually. So there might be automatic invoicing (which I couldn't really use) and manual reconciliation. There is no such thing as group reconciliation: All the parties that bought in May for 10 usd should be reconcilied one '10 usd' invoice for may. That would save so much time. Xero, please do that. I also hate that products are mandatory. If a client orders something, in a new combination, or asks for a penny discount it is a new product. Why cannot I just invoice John for 14.57 dollars, why do i need to add the 14.57 product? I understand you are trying to be smart, xero, but please keep the dummy functions. I am a dummy. I need them. Lastly, according to my current knowledge, it does not integrate with payment providers like stripe or braintree without zapier - which is another subscription cost. Here I want to cut Xero some slack, it is not only their fault, but the payment provider's fault as well, and I am in deep conversations with them on what can we do.