Xero Review - Features, Pricing & Deals

Xero is a cloud-based accounting software that helps small and medium-sized businesses manage their finances. This New Zealand-based platform offers tools for everything from basic bookkeeping to complex financial management.

The software stands out for its user-friendly approach, making accounting tasks accessible to business owners without extensive financial backgrounds. Users can handle invoicing, track expenses, manage payroll, and reconcile bank transactions all in one place. The platform connects with over 21,000 banks worldwide, automating many daily financial tasks.

Small businesses can start with basic features and add more complex tools as they grow. The software works on various devices, including computers, tablets, and phones, letting teams access financial data from anywhere. Integration options with popular business apps help create a complete business management system.

Pricing starts with a basic plan for small businesses and scales up to premium options for companies that need features like multi-currency support. Add-ons for project tracking and expense management are available for an extra cost. The platform uses strong security measures to protect financial data and follows important regulations like GDPR.

• Online Invoicing and Payment Management: Create custom invoices with payment links, accept multiple payment methods, and automate payment reminders to streamline your billing process.
• Advanced Banking Reconciliation: Connect with over 21,000 global banks, automatically import transactions, and easily match statement lines to simplify financial tracking.
• Comprehensive Expense Management: Track and categorize business expenses, upload receipts via mobile app, and maintain clear visibility of cash flow and financial health.
• Project and Inventory Tracking: Manage project budgets, quotes, and invoicing while tracking stock levels and inventory movements in real-time.
• Integrated Payroll Solutions: Streamline employee payments, calculate deductions automatically, and ensure tax compliance across different regions.
• Robust Financial Reporting: Generate detailed financial reports, access advanced analytics, and gain insights to make informed business decisions.
• Multi-Currency and Global Integration: Support transactions in over 160 currencies, integrate with multiple business apps, and facilitate international operations seamlessly.

• Standard Plan offers unlimited invoices and bill payments, suitable for local businesses without international transactions.
• Premium Plan includes multi-currency support, designed for businesses with international operations.
• Add-on features like Xero Projects and Xero Expenses are available at additional costs.
• Pricing varies based on business needs, with scalable options to accommodate different business sizes and requirements.

Connecting your bank accounts to Xero is pretty simple. First, log in to your Xero account and go to the Banking menu. Click on "Add Bank Account" and search for your bank from the list of over 21,000 supported financial institutions. Follow the prompts to enter your banking credentials. Once connected, Xero will start importing your transactions automatically, usually within 1-2 business days. If your bank isn't supported for direct feeds, you can still upload bank statements manually in CSV or OFX format. Remember to check your feeds regularly to make sure they're working properly.

Yes! Xero has mobile apps for both iOS and Android devices. The apps let you handle many key tasks on the go, like sending invoices, capturing receipts, reconciling transactions, and checking your cash flow. You can download the Xero mobile app from the App Store or Google Play Store for free. The app uses the same login as your regular Xero account, so all your data stays in sync between your phone, tablet, and computer. This makes it super handy when you're traveling or just away from your desk.

Xero offers several support options when you need help. Their help center has tons of articles, guides, and video tutorials that cover most common questions. If you can't find what you need there, you can contact their support team through email or live chat right from your Xero account. They also have an active community forum where users share tips and solutions. For more hands-on training, Xero offers webinars and courses through Xero Central. Many users say the support team is friendly and quick to respond, though wait times might be longer during busy periods.

Xero takes security seriously. They use bank-level encryption to protect your data both while it's stored and when it's being transferred. All information is backed up across multiple locations to prevent data loss. Xero has two-factor authentication to add an extra layer of protection for your account. The company regularly undergoes security audits and complies with global regulations like GDPR. You can also set up different user roles with custom permissions, so your team members only see the information they need to do their jobs. This helps keep your sensitive financial data safe and secure.

Absolutely! Xero's Premium plan supports more than 160 currencies, making it great for international business. When you create invoices in foreign currencies, Xero automatically converts the amounts using up-to-date exchange rates. You can see both the foreign amount and your base currency value on reports. The system tracks gains and losses from currency fluctuations too, which saves you tons of time at tax season. Just keep in mind that multi-currency features are only available on the Premium plan, not the Standard plan. If you do business internationally, this upgrade is definitely worth considering.