Xero review
Bottom line
Xero is the accounting platform we recommend to owners who want unlimited users and a cleaner interface than QuickBooks, and who don't need the deepest US-specific ecosystem. Bank reconciliation is the best in class, the dashboards are readable without an accountant, and every plan includes unlimited seats. The trade-offs are the invoice cap on the Early plan, support that is ticket-only, and payroll that is an add-on through Gusto.
What is Xero?
Xero is cloud accounting software with bank reconciliation at its core. Every plan includes unlimited users, which suits businesses that want the owner, bookkeeper and accountant all in the file. Invoicing, bills, receipt capture via Hubdoc, projects and inventory are built in, and US payroll runs through its Gusto integration.
Who it's for
- Businesses with several people who need to be in the books (owner, office manager, bookkeeper, partner)
- Owners who want to understand their numbers from a dashboard rather than a report pack
- Agencies, consultancies and trades that bill by project and want time and cost tracking
Who should look elsewhere
- Very new businesses sending more than 20 invoices a month; the Early plan cap pushes you to Growing fast
- Businesses that want to pick up the phone for support
- US companies whose accountant only works in QuickBooks
Typical uses
- Daily bank reconciliation with rules and auto-matching
- Quotes to invoices to online payment for service businesses
- Project profitability tracking for consultants and contractors
- Multi-currency sales for businesses with overseas customers
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