Xero Review

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Last updated: Jun 01, 2019

Xero Review

ITQlick rating
(4.3/5)

Starting from $28 Per month

Xero is a cloud-based accounting and finance software for small, start-up, and growing enterprises. It has invoice management, purchasing, bank reconciliation, and bookkeeping features which help businesses boo...

  • Categories (4/33):

    • Billing & Invoicing
    • Bank reconciliation
    • Asset management
    • Accounting & Finance

What is Xero? Updated: Jun 01, 2019

Xero is a cloud-based accounting and finance software for small, start-up, and growing enterprises. It has invoice management, purchasing, bank reconciliation, and bookkeeping features which help businesses boost their cash flow. Xero started in 2006 and has now up to 5,000 employees. It specializes in creating accounting, banking, design, and billing software and is currently stationed at Wellington City, Wellington.

Xero Average Rating -

The rating of Xero is 4.3 stars. The rating is based on ITQlick expert review

Xero Typical Customers

Xero is best for small businesses, freelancers and non-profit organizations. It can be used in industries that have to do with accounting, advertising, computers, Financial Service, Hospitality, Retail and Services. Xero would be great for startups and mid-size business that already have customers in many different countries. Most of Xero's customers come from New Zealand.

Companies currently making use of this service are Workflowmax, Shopify and 31Three.com.

Xero Features

Xero can help small businesses save more time on back-office processes and focus on giving higher value services. Other services like PayPal, Stripe, Bill.com and Expensify can easily be integrated to the software. Xero's customers that rely on financial institutions like City National Bank should not have any problem feeding transactions directly into it.

Xero 5 Pros

  • Cheaper than other accounting and finance software
  • Highly customizable
  • Easy to learn and use
  • Provides real-time bank feeds and bank reconciliation
  • A large variety of add-ons are available for users to pick

Xero 2 Cons

  • Tags have limited categories
  • Cannot create multiple entries from one company

Xero Alternatives

FreshBooks is cloud-based accounting software for small businesses like Xero. FreshBooks pricing is at the same cost range as Xero. FreshBooks has automated billing, expense input, and notifications whereas Xero only has automated backup and scheduling. Both have currency conversion capability but FreshBooks lacks customer database, history, and segmentation which is important in customer management.

Both have excellent customer reviews online and are beneficial as an accounting system. Wave is a cheaper accounting software alternative for Xero because it is free. It serves small businesses with less than 9 employees only.

Wave is also supported in the web and as an iPhone and Android app like Xero. When features are being compared, Wave has almost all accounting, invoicing, receipt, and payroll processing features like Xero except for the ability to provide real-time data, customize reports, and API. Both have high vendor reputation online but Wave is a more practical choice only if the business has less than 9 employees.

Xero Pricing Information

Xero pricing is below the average cost of accounting and finance software. It has three plans: Starter, Standard, and Premium. All plans are capable of inviting team members, generating performance reports, connecting to banks, and securing SSL encryption. It is also available as an iPhone and Android app and has over 700 integrations.

Starter plan starts at $20 per month which can send up to 5 invoices and quotes, enter 5 bills, and reconcile 20 bank transactions. Standard is $30 a month with unlimited invoices, quotes, and bank reconciliation. Premium plan is $40 with Standard features plus the ability to handle multiple currencies.

Xero demo

25 questions to ask the vendor on Xero demo

Is Xero the right software for me?

Xero fits small enterprises that are looking for economical yet fully functional accounting and finance software. Xero caters IT solutions to a wide range of industries like retail, non-profit, legal, Amazon sellers, Cafe, tourism, healthcare, farming, real estate, and more.

Xero Categories

Billing & Invoicing
Bank reconciliation
Asset management
Accounting & Finance
Budgeting & Forecasting
Check Printing
Core Accounting
Financial reporting
Fund Accounting
Payment Processing
Project Accounting
Recurring invoicing

Specifications

Company:
Address: Xero Accounting Software, Wellington, New Zealand
Website:Xero
Customers: Small business
Business Area: Cross Business Areas
Platforms: Desktop, Mobile, Cloud
Operating Systems: Mac OS, Windows, Linux

Xero Features

Accounts Payable
Accounts Receivable
Billing & Invoicing
Budgeting & Forecasting
Fixed-Assets
Purchase Orders
Analytics
Forecasting
Asset management
Inventory Optimization
Supplier Management
Warehouse Management
Inventory Management

Xero Vs. Alternatives

ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick score ITQlick Score is a 1 to 100 score, based on pricing, and functionality Vs. alternative solutions
Pricing score pricing Score is a 1 to 10 score, based on the TCO (cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
License pricing license pricing (if provided by the software vendor)
Hosting
Functionality score
Fit small business
Fit medium business
Fit large business
Software review
Compare
Xero
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
94/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
2/10
License pricing license pricing (if provided by the software vendor)
$28 Per month
Hosting
On premise and Cloud
Functionality score
46
Fit small business
Fit medium business
Fit large business
Software review
QuickBooks
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
97/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
3.2/10
License pricing license pricing (if provided by the software vendor)
$250 Per license
Hosting
On premise and Cloud
Functionality score
20
Fit small business
Fit medium business
Fit large business
Software review
FreshBooks
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
95/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
2/10
License pricing license pricing (if provided by the software vendor)
$15 Per month
Hosting
On premise and Cloud
Functionality score
28
Fit small business
Fit medium business
Fit large business
Software review
Multiview
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
93/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
3.8/10
License pricing license pricing (if provided by the software vendor)
Pricing not available
Hosting
On premise and Cloud
Functionality score
23
Fit small business
Fit medium business
Fit large business
Software review
Cougar
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
93/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
2.6/10
License pricing license pricing (if provided by the software vendor)
Pricing not available
Hosting
On premise and Cloud
Functionality score
16
Fit small business
Fit medium business
Fit large business
Software review