Xero does offer an invoice template to help get you started, and you can choose to create and save your own templates. Once customers receive the invoice, they can pay you directly from it by clicking the “pay now” button and using a credit card, debit card or direct debit. You can also accept payments from popular services such as Stripe and GoCardless.
Xero may be harder to learn than a simpler invoicing platform like Square Invoices or Zoho Invoice. We spend hours researching and evaluating each accounting software system we review at Merchant Maverick, placing special emphasis on key characteristics to generate our ratings. Xero tries to throw you as many bones as possible by adding a video or help article to the top of every page you open. If you need some extra assistance in finding features or understanding the software, Xero also offers a help center. We also have a comprehensive and free How To Set Up Your Xero Account guide that teaches you how to use and optimize your Xero account.
Telephone support is limited
When reconciling books, Xero suggests likely matches between bank statement lines and transactions entered in the software. For example, if you have an entry for an invoice of $1,000 and a recent $1,000 deposit in your bank account, it might suggest matching these two transactions. Click the "OK" icon between the two to verify the match is correct. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research.
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The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships. These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. We encourage you to research and compare multiple accounting software products before choosing one. NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business.
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After a 30-day trial period, Xero will bill a monthly charge of $13 per month for the Early plan, $37 per month for the Growing plan and $70 per month for the Established plan. For free invoicing platforms, consider Zoho Invoice, Square Invoices or PayPal Invoicing, although these platforms provide fewer capabilities. Given that there are several invoicing software on the market, it’s worth putting in some time to research your options before choosing one for your business.
- Xero has a reputation for some of the strongest cloud security out there.
- There are no annual contracts, so you can cancel your subscription at any time (although you must give a 30-day notice of your cancellation).
- Our partners cannot pay us to guarantee favorable reviews of their products or services.
- Also included in the Ultimate plan is Xero Analytics Plus, a set of tools to help small businesses gain a deeper understanding of how their business may be performing, and plan ahead.
- In this Xero accounting software review, we’ll break down the pros and cons to help you figure out whether Xero is the right accounting tool for your needs.
Another page dedicated to short-term cash flow charts out how future bills and invoices can affect your bank balance over the next week or month. While Xero’s plans start at a cheaper price, QuickBooks offers more features across its plans. Then again, QuickBooks requires user limits for each plan while Xero doesn’t. We compared the two options in terms of their key features, pricing and customer service to help you decide which is right for your business.
Users that are new to bookkeeping won’t be overwhelmed by Xero’s simple and easy-to-navigate layout. This layout makes the reconciliation process, among other accounting tasks, particularly easy. The software shows you potential transaction cash short and over definition and meaning matches side by side, so you can immediately see if the match is accurate without having to click anything. Access Xero features for 30 days, then decide which plan best suits your business. †Invoice limits for the Ignite plan apply to both approving and sending invoices.
