Xero is an affordable, user-friendly accounting software that is capable of managing all of your business income and expenses. Pricing plans run between $9 to $60 per month, which is more than FreshBooks and Wave but a little less than QuickBooks. Wave includes similar features to QuickBooks with one exception ― no live customer support.
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Accounting Software |
Best For |
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Xero |
Medium to large businesses that need to grant access to many users |
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QuickBooks Online |
Solopreneurs and larger companies with several users and employees on staff |
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FreshBooks |
Freelancers who need to streamline their accounts receivable process to get paid faster |
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Wave |
Small businesses that want an accounting software that is in their budget |
Xero accounting software was designed for small businesses of any size. It includes all of the features you need to manage the income and expenses of a small business, including invoicing customers, paying bills, paying employees, and accepting online payments. It has affordable plans that start at $9 per month, and all plans allow you to add unlimited users whereas QuickBooks limits the number of users in each of its plans.
Overall, Xero customers are happy with the software but would like the option to speak to a customer support representative as opposed to emailing the support team and waiting for a response.
Xero accounting software is ideal for medium- to large-size businesses that need to give a large number of users access to their data. Because Xero does not charge you for additional users, it is going to be the most economical for companies with a lot of users.
Xero has three pricing plans that run between $9 to $60 per month. This is competitive with QuickBooks plans at $10 to $60 per month but pricier than Wave which is free. When compared to FreshBooks, you save money by choosing Xero because you don’t have to pay for additional users whereas FreshBooks charges an additional $10 per user per month.
Listed below are the three Xero pricing plans:
· Xero Early plan: $9 per month
· Xero Growing plan: $30 per month
· Xero Established plan: $60 per month
Like its competitors, you can add payroll services and accept online payments from customers for an additional fee. Payroll services are provided by Gusto and start at $39 per month plus $6 per month, per person. The fees for accepting online payments will be based on the provider that you choose. Visit the Xero App Marketplace to select from a list of payment apps that integrate seamlessly with Xero.
When it comes to features included, Xero has what most small businesses need to manage their finances like invoicing customers, paying bills, reconciling bank accounts, and detailed reports.
Listed below you will find features that are included in all Xero pricing plans:
· Accounts payable (A/P)
· Accounts receivable (A/R)
· Bank card & credit card account integration
· Unlimited users
· Financial reports
Unlike the Early plan which is limited in the number of transactions that can be processed for A/P, A/R, and bank card and credit card accounts, the Growing and Established plans allow you to manage unlimited transactions in each of these areas.
In addition, the Established plan includes three additional features that you won’t find in the Early or the Growing plans:
· Multicurrency accounting: Ability to create invoices, pay bills, and manage bank accounts in a foreign currency
· Expense management: Ability to manage employee expense reimbursement claims
· Project tracking: The ability to track income and expenses by project
If you are currently using QuickBooks and need help moving to Xero, check out our how to convert from QuickBooks to Xero article. If you need to get up to speed quickly on Xero, check out our free Xero Course.
Xero is our choice if you’re looking for the best alternative to QuickBooks. However, Xero falls short when it comes to the number of accountants and bookkeepers that are familiar with the software. In comparison to QuickBooks, Xero has more than 10,000 certified advisors vs 50,000 QuickBooks ProAdvisors in the United States. This means that it may be tough to locate an accountant or bookkeeper who is familiar with the product.
Xero users like how easy it is to use the program and the ability to add unlimited users without increasing their cost. However, customers are not satisfied that when they have a question, they have to send an email to the support team and wait for a response since there is no telephone support option. Check out all of our Xero reviews on our Xero user reviews page.
Similar to most of its competitors, you can take Xero for a 30-day test drive to try it before you buy it. There is no credit card required, head to its website and provide your contact information and your account will be set up immediately.