Reports offered instructions to help me interpret them and easy filtering options to customize them to my needs. OneUp offers several standout features, including extensive automations that extend across business functions, customized and automated invoicing, a comprehensive mobile app and extensive reporting. Xero is a good choice for small businesses that are looking for an accounting software with payroll capabilities. The software is also a good fit for businesses that are growing quickly and need to track projects and organize their documents efficiently. While, with most accounting software, you must generate a new report after choosing from a list of reports, the reports list in Zoho Books already has all data populated in each report.
Xero accounting software review
In 2023, she was named the No. 2 Most Influential Financial Advisor in the Investopedia Top 100. Additionally, when I generated an invoice, the system alerted me if any necessary information was missing to save the invoice. A form would then appear on the same screen, enabling me to promptly add the required details, such as a service item for sale or a customer. This streamlined process allowed me to address all requirements directly from the invoice screen, providing clear guidance on what was needed to fully complete the task. All this to say, each step provided clear links or buttons to walk me through each subsequent step.
Financial Reporting and Data Analytics
Most accounting software providers offer free trials, so you can try out the software before you commit to it. Many also offer free tutorials and support, so you can get help when you need it. Finally, there are many online resources, such as accounting forums and blogs, that can teach you how to use accounting software. To begin, I filled out a simple an invoice statement: how to write form with my name, contact information, company name, industry and a chosen platform. I was then taken through a two-step process to verify my identity using my email and mobile phone. Each report offered a description and useful information to help me interpret the report when I hovered over the question mark in the top corner of each report.
Best for Comprehensive Features
Xero has a mobile app, Xero Expenses, that allows you to snap pictures of receipts and create an expense instead of having to manually enter all the information. This feature is available on all pricing plans; which I appreciate since some accounting software charges extra for mobile receipt capture. Employees can submit a reimbursement request as soon as their receipts are uploaded, and the business owner can track expenses totals by category as they are submitted (Figure C). Xero’s simple invoicing tool (Figure A) makes it easy to upload your logo and choose from several branding themes, but I’d love to see more extensive customization options. Xero does offer an invoice template to help get you started, and you can choose to create and save your own templates.
Xero Accounting Review 2024: Pricing, Features, Alternatives
The software makes it easy to pay bills, claim expenses, accept payments, track projects, manage contracts, store files and more. You can import data from another accounting system in bulk via CSV files once you’ve done the initial set up in Xero. For a smooth transition and best results, we recommend working with an accountant or bookkeeper, preferably one with Xero experience, when you make the move to Xero cloud accounting software. This accounting software enables you to track all of your projects and jobs. You can prepare quotes, estimate prices, submit invoices and then get paid.
Track projects
This plan is a good option for growing businesses that send a lot of invoices or have multiple financial accounts. These reports help small business owners identify areas for improvement and make evidence-based decisions in real time. Xero doesn’t offer as many pre-built reports compared to Xero alternatives such as QuickBooks.
- Xero also grants you access to automatic bank feeds to make sure you have sufficient funds to cover payments.
- This makes it a versatile tool for small businesses that need to streamline their operations.
- With these always at the top of my screen, I could easily complete key actions.
- You can enter data manually, import data, or use one of the services that can converts the data from your old accounting system to Xero.
I was told the sales representative was not allowed to discuss pricing. NetSuite’s representative said that pricing depends on the modules and users a company needs. NetSuite’s accounting software is all about automation, which can be a huge time-saver (and stress-reducer) for businesses. Automation features include creating journal entries and statement reconciliation. One particularly notable feature set within AccountEdge is its data management and report customization features.
After a 30-day trial period, Xero will bill a monthly charge of $13 per month for the Early plan, $37 per month for the Growing plan and $70 per month for the Established plan. For free invoicing platforms, consider Zoho Invoice, Square Invoices or PayPal Invoicing, although these platforms provide fewer why are prepaid expenses considered an asset capabilities. FreshBooks charges $17 per month and QuickBooks charges $30 per month). However, the best option and price point will depend on the specific capabilities and features you are looking for. Get to know your finances with accurate, daily figures when you’re accounting online with Xero.
Access Xero features for 30 days, then decide which plan best suits your business. Make Xero your own by connecting other apps to the Xero accounting software. The demo company in Xero lets you try out Xero’s features without setting up your own organization or entering your own data. Get started with the demo company, or if you set up your own business, Xero protects your data with multiple layers of security. Access Xero features for 30 days, then decide which plan suits your business best. Hubdoc is included in Xero Early, Growing and Established plans as long as it’s connected to your Xero subscription.
And when I clicked “filter” at the top of the screen, a drop-down menu appeared that allowed me to filter the documents stored by date added, source, folder, keyword search, category or date. Further, another “item type” button offered more filter options when clicked. I could filter for only receipts, mileage, bills, contacts, documents, invoices, statements or checks. Still, another button labeled “column” gave me the option to add or remove columns from the list of documents, such as document notes, categories, descriptions or date added. Businesses seeking a highly adaptable accounting solution that offers a precise and detailed overview of their finances should consider ZarMoney.
An accountant or bookkeeper can be useful set of hands to help with the accounting heavy lifting. Invite your advisor to work with you on the yamaha precision propellers industries careers online accounts anywhere, anytime. See guides to help you do better business, and understand the often overwhelming world of accounting.
In addition, businesses that are likely to increase their accounting software user account in time should consider ZarMoney’s Small Business and Enterprise plans. I tested OneUp on a MacBook Pro computer using the Safari browser. I found the software to be extremely easy to set up and start using.
The Forbes Advisor Small Business team is committed to bringing you unbiased rankings and information with full editorial independence. We use product data, first-person testing, strategic methodologies and expert insights to inform all of our content to guide you in making the best decisions for your business journey. The support is heavily weighted to “email” and it can be hard to get people on the phone. Xero often serves as an initial stepping stone for solopreneurs transitioning from error-prone manual spreadsheets to a more streamlined system. However, Xero is not suitable for all types of business, particularly those with very high transaction volumes.
Request the information you need for these forms from your contractors, then store the information within Xero. A Xero representative told us that accountants using the platform have said their clients benefit tremendously from this W-9 feature. There’s also a timer for recording billable hours per task and tying it to an invoice. You can invoice by time entry or task and you can mark up your prices based on your estimates in just one click.
The Xero Accounting mobile app works in tandem with the Xero accounting software so you can run your small business online from anywhere. Keep track of your unpaid and overdue invoices, bank account balances, profit and loss, cash flow and bills to pay – plus reconcile bank accounts and convert quotes to invoices. The Established plan costs $78 per month and includes unlimited numbers of invoices and bills. In addition to all the features of the other two plans, the Established plan includes the use of multiple currencies, tracking time and projects, claiming expenses and viewing in-depth analytics.