However, we are disappointed that Xero lacks tax support, doesn’t have more advanced inventory (unless you purchase the Inventory Plus add-on), and doesn’t have more invoice templates. While the software is well-organized, it does have a steep learning curve (not as steep as QuickBooks, but it is more difficult to learn than other cloud-based options). It takes quite a while to explore all of the features it has to offer, but once you get acquainted with the software, Xero is fairly easy to use. Getting started is the most difficult part, and it’s this learning curve that lowered our ease of use rating to 3.8/5.

• Adviser roles grant specialized access to accounting professionals, and Administrators maintain full system control, including user management and security settings.
• By choosing Xero for small business, you’ll have the tools and support you need to manage your business finances effectively and focus on what matters most.
• Staying compliant with tax regulations in Australia and New Zealand is crucial for small businesses.
• Collaborate with your peers, support your clients and boost your practice.
• If you have accounting knowledge, Xero should be sufficient for your small business.

How to manage petty cash

With online invoice payments through Stripe and GoCardless, you can accept payments by card or direct debit. However, it’s important to note that Xero does not provide refunds for unused portions of a billing period, so timing your cancellation appropriately is advisable. Xero occasionally offers discounts or promotions, such as reduced rates for the first few months or special pricing for educational income summary institutions and non-profits. Users can access these promotions by checking Xero’s website or contacting their sales team for current offers.

How often does Xero change its pricing structure?

Simplify your finances and get more done with Xero online accounting software. All pricing plans cover the accounting essentials, with room to grow. Xero automatically calculates sales tax on your company’s transactions and prepares sales tax returns on the company’s behalf using what is xero sales tax reports. I like that you can set up as many sales taxes as you want, and the software will record them automatically. Xero Projects features show the project profitability and generate reports on different aspects of a project, including project summary and project details.

Can I pay for Xero annually?

Before committing to any platform, explore our updated 2025 review of Xero to see if it’s a wise fit for your business. Check out the https://www.bookstime.com/articles/conversion-costs Xero App Store to find, demo, and buy business apps that connect to Xero. Apps like Stripe, GoCardless, Vend, and Shopify connect seamlessly and sync your data with Xero to make it easier to run your business. As mentioned earlier, I received a delayed response when I contacted Xero with a login issue. I thought that I’d received a late reply because I was a trial user.

Is Xero Right for You or Your Business?

• Thanks to a large app marketplace, Xero can adapt to more complex workflows.
• 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.
• These include the Xero Accounting app, which lets you do your accounting and bookkeeping while you’re away from your desk, and works seamlessly with Xero desktop software.
• For more details about Atomic Invest, please see the Form CRS, Form ADV Part 2A, the Privacy Policy, and other disclosures.
• Xero occasionally offers discounts or promotions, such as reduced rates for the first few months or special pricing for educational institutions and non-profits.
• Growing ecommerce businesses benefit from inventory management capabilities, while service-based companies leverage project tracking and billing features.

†Invoice limits for the Early plan apply to both approving and sending invoices. Transactions initiated by app partners may automatically contribute to your invoice limit. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Xero no longer offers built-in payroll, but it does integrate with Gusto Payroll.