Xero offers close to 600 integrations with leading accounting tools, reporting platforms, bills and expense software such as Hubdoc and payment platforms such as Stripe. QuickBooks offers over 750 integrations, including platforms such as Dext, BILL, Expensify, Mailchimp and PayPal. While Xero has a lot going for it, pricing increases, a lack of built-in payroll, and limited features on its least expensive plans are potential issues. Additionally, customer support has Bookkeeping vs. Accounting gone downhill since our last review.
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Unlimited users and advanced features make this cloud accounting software platform a good fit for many small businesses. Yes, Xero can manage inventory, though its inventory management features are more suited to small- to medium-sized businesses with basic inventory needs. Xero’s built-in inventory module allows users to keep track of stock levels, manage suppliers, and generate purchase orders—all directly within the platform. This makes it a convenient option for businesses that want a simple, straightforward inventory management solution integrated into their accounting system. Wave offers free accounting software, making it an excellent choice for startups and small businesses with a tight budget. Each of these plans comes with a 30-day free trial, allowing users to explore the software’s full features before committing.
Accessibility and Flexibility
Overall, Xero remains a top-tier accounting solution for many SMBs globally. By evaluating its current offerings against your specific requirements, you can determine if it’s the right platform to streamline your financial management and support your business growth. Xero appeals primarily to small and medium-sized businesses that value cloud accessibility, automation, and a broad ecosystem of integrations.
Benefits of using our Xero Features List & in-depth RFI/RFP Data
A free 30-day trial is available for all 3 plans, in addition to a 95% discount for the first 3 months. Xero’s pricing structure is straightforward, with 3 plan sizes and no limit to how many users can access the software. bookkeeping I found Xero impressive due to its advanced general ledger controls and easy invoicing and billing, which can be handled directly from the software.
Streamline your invoicing
Whenever you pay employees, Gusto payroll software automatically calculates, files, and pays your xero software local, state, and federal taxes for you. It also withholds any deductions and generates tax forms – preventing errors and saving time. Discover how Xero integration connects works and connects to over 1,000 apps, from ecommerce to payments. Comprehensive is best for businesses with 2 to 5 employees, as well as importers, exporters, and other businesses that trade internationally.
Another option worth looking into is QuickBooks, which has great support options and a decent pricing point. In the table below, you’ll find a selection of some of our favorite solutions. Make sure to check out our guide to the best accounting software for small businesses for more information.
- To find the right one for you, you’ll need to evaluate your current needs and match them to features available in each tier, also with an eye on your near-term growth plans.
- Xero’s automation builder is just as powerful, but it is not as user-friendly as QuickBooks’.
- Growing companies have unique small business accounting needs and challenges, including navigating different development stages, adding employees and managing increasingly complex finances.
- Additionally, Xero’s accounting can connect to your bank directly for bank feeds (as mentioned, 21,000+ financial institutions are supported), ensuring that data flows in without manual imports.
- Very large or complex enterprises might also find Xero’s scope limiting (those cases might warrant an ERP or more specialized software).
- You’ll also see a summary of invoices owed to you and bills you need to pay.
Alternatively, payroll employees can use Xero Me (which is also available as a web application) for manually entering time data into timesheets they then submit for approval. You can also do this on behalf of your employees through your web browser. Unfortunately, I think these solutions are time-consuming and prone to errors (or even time theft). Xero’s overall navigation is relatively intuitive—I found that buttons and access to sub-menus were generally located where I expected them to be.