We’ll walk you through the key features and add-ons that will allow you to harness the true power of Xero for all your financial management needs. Along with the team of financial experts at Outsourced CFO, Xero Accounting software packages offer all the tools and expertise that you will need on your financial journey to success. Xero’s accounting software integrates with retail POS apps and leading payment services to handle credit card and other payments seamlessly, and to sync sales data. Create, customize, send, and track your invoices with the Xero desktop or Xero Accounting invoice app.

Bookkeeping tasks you must do every week

However, with the powerful built-in features offered by Xero Accounting, owners and their finance team can streamline their financial operations and achieve greater efficiency. Xero software is set up to make fraudulent activities easy to track for SMEs. As a small business owner, you might be concerned about a cloud service provider storing your sensitive financial data online.

Fixed Asset Management

• Investing involves risk, including the possible loss of principal.
• Use Xero accounting data to create business plans and budgets, reports, infographics, and dashboards with the LivePlan app in the Xero app marketplace.
• Whatever the task, Xero’s powerful tools and elegant design help you manage your finances faster.
• The business managers should have access to transactions that detail how cash flows in and out of the business.
• This course is for small business owners, accountants, and bookkeepers who are starting to use Xero for the first time.
• This can be done straight from the Xero Accounting app on a mobile phone, powered by Stripe, once an invoice has been raised.

This allows businesses to focus on strategic projects rather than routine accounting tasks. The platform’s core workflows center around automated bank reconciliation, where transactions are matched against bank statements for accuracy and categorization. Users can create and manage professional invoices, track payment status, and set up recurring billing schedules. Bill payment processes include automated reminders, approval workflows, and payment tracking. The financial reporting system draws from this real-time data to generate standard and customizable reports, providing immediate visibility into business QuickBooks ProAdvisor performance and financial position. As an Xero user, you’ll benefit from streamlined invoicing and payment processing that simplify payment management.

Discover Xero’s software for professional services

You save yourself the workload, and can be confident the calculations are right. Xero’s accounting software can help you take control of your business. Discover how Xero’s clever features and design can transform the way you manage your business finances. No more questions from employees on payment dates – Gusto automatically sends them an email when you run your payroll. A streamlined payroll system means accurate payments, deadlines met, and organized financial records.

Xero functions as a centralized system for the overview of spending, enabling businesses to identify cost-saving opportunities. Xero is designed to simplify financial management tasks for small unearned revenue businesses. I’ll mention some significant benefits of Xero accounting software below.

• Xero can integrate with Gusto for payroll accounting, and QuickBooks users can manage payroll with an additional plan.
• The chart of accounts is a list of all accounts you can use to record your transactions in Xero.
• However, it’s generally considered easier than QuickBooks Online.
• Efficient financial operations are essential for the success and growth of any business.
• Before you commit, you can try their accounting software for free thanks to their 30 day free trial.

Here, you can produce invoices, bills, purchase orders and more besides, with one-click ease. Xero has had even more new features added and, as cloud-based services go, this currently has to be one of the most fully featured options on the market. Xero’s easy-to-use features are designed to be the best for your small business. Go for software that’s designed specifically for your device and operating system.

Give your customers more ways to pay

• Overall, both platforms have many similarities and can help SMBs get their finances in order, but there are also some differences that can’t be glossed over.
• Brex Treasury LLC does not provide legal, tax, or investment advice.
• Xero’s user interface is popular among its existing client base.
• But, I noticed many customers also complain about Xero customer support.
• This can be helpful if your company is growing fast, or you simply want the reassurance that there’s no limit to how many people can be part of the team.
• Besides an overview of unpaid bills, expenses, and purchase orders, Xero displays bills in different categories, such as draft, waiting for approval, or ready to be paid.
• Empower your US small business with Xero self-employed accounting software for business owners.

Xero is an excellent accounting software solution for these organizations. Its pricing isn’t tied to employee count, making it a flexible option that scales easily with your business. As your team grows and your accounting needs evolve, Xero can keep up — without forcing you into a higher pricing tier. We recommend Xero for businesses that are expanding quickly and want a solution that supports growth without adding complexity. Small and medium enterprises across various industries rely on Xero, including retail, professional services, consulting, technology, and manufacturing sectors.

• The platform streamlines financial operations through automated bookkeeping and accounting processes, building upon a robust foundation of essential features.
• A great convenience in Xero is that you can link your bank account to the Xero software.
• To get the most out of your software, Xero has 1,000+ integrations to choose from.
• It can help you have more financial knowledge of your business and manage your business from anywhere.
• The Xero App Store has hundreds of apps to help you run your professional services business with Xero’s accounting software.
• Xero lets you connect your credit card and bank accounts directly to the software, or you can manually import your bank statements.

This plan includes everything in the Starter but without the restrictions on the number of invoices and bills. It’s likely ideal for growing businesses that require regular financial activities without the constraints of the Early plan. The Growing plan’s offering at a moderate price could be deemed a value for money, especially given the current promotional offer. For businesses seeking a modern and efficient accounting tool that prioritizes ease of use and adaptability, this platform provides an excellent solution. Its combination of powerful features, extensive support, and cost-effective services makes it a reliable choice for managing finances and driving growth.

The choice of integration depends on your specific business needs and processes, so make sure to get expert advice from your OCFO partner about integrations. The Xero Accounting app is a mobile app you can download directly to your device. Monitor money coming in and out with profit and loss reports and xero accounting cash flow widgets.