Pros
This online accounting software is a full accounting solution with traditional features such as chart of accounts, aged accounts receivable reports and general ledgers. It can also manage more complex accounting tasks such as fixed assets and depreciation.
This online accounting software is a full accounting solution with traditional features such as chart of accounts, aged accounts receivable reports and general ledgers. It can also manage more complex accounting tasks such as fixed assets and depreciation.
Cons
While Xero provides adept basic accounting tools, most other types of business support services have to be added using a compatible add-on. To make this a complete business solution, you'll have to add quote creation and time-tracking tools.
While Xero provides adept basic accounting tools, most other types of business support services have to be added using a compatible add-on. To make this a complete business solution, you'll have to add quote creation and time-tracking tools.
The Verdict:
8.5/10
Xero
easily manages basic accounting tasks. It supports unlimited users,
processes payroll and allows up to 100GB of file storage. It also can
support multiple currencies and tax rates. However, if you need job or
time tracking, you will have to seek out additional technology.
Xero accounts, regardless of the version,
support unlimited users and give you mobile access for iPhone and
Android devices. This cloud-accounting software
can also manage basic inventory and fixed asset depreciation. However,
it provides limited project or job-tracking tools. Xero provides
project, time and task management through an assortment of add-ons. So,
while these tools are available, they require an additional monthly fee.
The Xero accounting plans are not based on the number of invoices sent,
but rather on payroll and file storage limitations.
Xero can easily create personalized, professional invoices featuring your logo. You can edit invoices by altering margins, padding, fonts, titles, logo placement and terms. You can also create and save custom layouts as well as upload template files. You can create new invoices easily with auto-filled information such as customer and inventory data. For instant payment, you can add a credit card or PayPal payment link to invoices. Invoices can be configured to display in a choice of over 160 currency denominations. Plus you can add default currencies to specific customers.
However, Xero provides few project, job and time-tracking tools. For example, you can create a budget to track project expenses such as advertising, printing, travel or wages related to that budget. This is a workaround, but it works for basic projects. Xero also tracks expenses, and you can attach images of receipts to expense tickets for your records. In terms of inventory, it can save the item code or name, a description, the unit price, the account and tax rates. Inventory tools are adequate for those who manage limited stock or services, which is the case for most micro businesses.
Xero's online accounting service provides mobile tools for Blackberry, iPhone, Android and Windows mobile platforms that are available for free in the iTunes App Store and the Google Play Store. Using mobile apps, you can create and send invoices, submit expenses and receipts, and manage overdue invoices from anywhere. The mobile version is slimmed down, but it includes useful tools for the road such as the ability to take a picture of a receipt using your phone to submit and track expense approvals. However, though it can track expenses, it does not have tools for tracking time. For mobile time tracking you will need to utilize a third-party solution.
Xero can easily create personalized, professional invoices featuring your logo. You can edit invoices by altering margins, padding, fonts, titles, logo placement and terms. You can also create and save custom layouts as well as upload template files. You can create new invoices easily with auto-filled information such as customer and inventory data. For instant payment, you can add a credit card or PayPal payment link to invoices. Invoices can be configured to display in a choice of over 160 currency denominations. Plus you can add default currencies to specific customers.
However, Xero provides few project, job and time-tracking tools. For example, you can create a budget to track project expenses such as advertising, printing, travel or wages related to that budget. This is a workaround, but it works for basic projects. Xero also tracks expenses, and you can attach images of receipts to expense tickets for your records. In terms of inventory, it can save the item code or name, a description, the unit price, the account and tax rates. Inventory tools are adequate for those who manage limited stock or services, which is the case for most micro businesses.
Xero's online accounting service provides mobile tools for Blackberry, iPhone, Android and Windows mobile platforms that are available for free in the iTunes App Store and the Google Play Store. Using mobile apps, you can create and send invoices, submit expenses and receipts, and manage overdue invoices from anywhere. The mobile version is slimmed down, but it includes useful tools for the road such as the ability to take a picture of a receipt using your phone to submit and track expense approvals. However, though it can track expenses, it does not have tools for tracking time. For mobile time tracking you will need to utilize a third-party solution.
