Being one of the most popular accounting software systems in recent times, many businesses across the world use the Xero Accounting Software for their daily accounting, invoicing, Payroll, and other tasks. It is one of the most popular software solutions available today. It is best suited for small and medium-sized organizations, as it helps in optimizing financial processes a lot.
In this article, you will get a general overview of Xero, which is a popular accounting software. We will also discuss the different levels of pricing of the software. Furthermore, you will also learn the various features the software offers for businesses. Finally, you will find out why Xero is a great software for your business, along with the major pros and cons of the software. Hence, to learn more about Xero, read on through to the end of the article.
Xero Accounting – A General Review Of The Software
Accounting is one of the important aspects of any business. Hence, entrepreneurs, business owners, and freelancers spend a lot of time on accounting and administration. Xero is one of those apps that is suited for small and medium-sized businesses that are in their growth phase. The software is quite affordable and comes with exciting features as well.
According to TechRepublic.com,
“Xero is a cloud-based, double-entry accounting software tool that is designed with small businesses in mind. More than 3.5 million users all over the globe use Xero to manage their billing and invoicing each month.”
In addition to that, Xero is based on the cloud and helps streamline the processes related to accounting and other tasks related to financial management. From tracking of transactions, cash flow reporting to management of Payroll and inventory. Furthermore, there are many automation features as well.
Additionally, one of the best things for Xero is the fact that the interface is easy to use, and users also have access to a variety of reports and analytics in just a few clicks. However, this software is not a great option for organizations that particularly has a large customer base.
Xero Accounting Cost
There are three different pricing plans for the Xero Accounting Software – Early, Growing, and Established. Here are the plans and the pricing related to them:
|Early||$13 per month|
|Growing||$37 per month|
|Established||$70 per month|
Furthermore, as per the claims of Xero, there is an optional add-on available for Payroll named Gusto, which comes at $40 per month and $6 per month per person. According to the claims of Forbes.com,
“Gusto is a platform that automates payroll filing for all 50 states in addition to automating payroll taxes, deductions and filings and providing employees with the platform to view pay stubs and W-2s online.”
Xero Accounting – What Are The Major Features Of The Software?
According to an article on Forbes.com reviewing the Xero software,
“Xero includes extensive features that make it suitable to handle complex accounting processes for small- and medium-sized businesses as well as larger ones. The software makes it easy to pay bills, claim expenses, accept payments, track projects, manage contracts, store files and more.”
The following are the major features of the Xero Accounting System that you will find with the software system:
- Documentation management is easy as there is a built-in integration with Hubdoc.
- The time tracking tool can be helpful for businesses that work with hourly rates.
- The reporting features are available not only for billing and accounting but also for finance and accounting as well.
- There are many integration options. Integration also happens with third-party apps.
Why The Xero Accounting Software Is A Good Addition To Your Business?
According to FianancesOnline.com,
“since Xero is cloud-based, users can access the platform on any web browser on a laptop or desktop. This provides more flexibility, unlike software that can only be deployed on-premise. Using the app’s intuitive dashboard, you can get superb data visualization of key accounting metrics for your business.”
The best thing about Xero is the fact that once you do a Xero Accounting Login, you will get the ease of managing some of the most crucial processes. You can do them even while you are on the move since it comes with a mobile app of its own.
When it comes to usage, you will also get unlimited users for every level of plan. This is extremely helpful when your company is on the verge of growth, or you simply want many people to become a part of your team.
The Major Pros And Cons Of Xero
Like every software system, Xero also has its own sets of pros and cons that you need to be aware of before you make a purchase and implement it in your business.
Pros Of Xero Accounting
Here are the major pros of Xero that will benefit you a lot:
- One of the first things that you will notice is that the pricing plans are competitive, and it hence becomes easy for businesses.
- An unlimited number of users and clients can have access to Xero and its accounting tools.
- You will get a free trial of 30 days to check whether the app is good for your business or not.
- High customization options.
- Easy connection to bank accounts.
- Payment in multiple currencies.
- Customizable accounting reports.
- Amazing customer support and learning tutorials are available.
Cons Of Xero Accounting
Here are some of the cons of Xero Accounting software that you must know of:
- You can send only 20 quotes and invoices in one month.
- The software can be a bit complicated for a beginner and requires a learning curve.
- The multiple currency payment option is only available with the highest subscription tier (Established).
Hope this article was helpful for you in getting a good idea of the Xero Accounting software system. It is not only affordable but also comes with great features that are helpful for small businesses that are growing. What are your reviews about Xero? Share your reviews with everyone in the comment section below.