Xero: Is it Worth The Money?
Xero is a popular cloud-based accounting software. It has been a tough competitor to other accounting software since 2006. Based out of New Zealand, Xero is a powerful accounting tool that comes with a wide range of features, 800+ integrations and provides comprehensive reports. Unlike its primary competitors, Xero features a mobile app with a user-friendly interface. If you’re looking to use Xero, but not sure if it is worth investing in a subscription, read this quick review.
Features of Xero
Xero features a customisable dashboard that displays graphs, labelled bank accounts, invoices owed to you, invoice to pay, and the entire cash flow. You can rearrange this order as per your preference. On the navigation menu, you can see options like Dashboard, Business, Accounting, Contracts, Adviser, and Settings.
Xero also has a ‘Sales Overview’ page that includes graphs and charts to break down your invoices and estimates.
Xero lets you create custom templates for invoices. The tool saves a lot of time and resources by giving you access to features like default payment settings, bulk invoicing, replication of previous invoices, recurring invoices. There is one more feature called ‘Xero to Xero’ that allows you to send/receive invoices from other Xero users.
With Xero, you can easily create quotes and convert them into invoices, bills, and purchase orders. Besides this, Xero helps you duplicate past quotes and add internal notes to quotes.
Xero has a separate portal for clients where customers can view, print, and pay invoices online. Moreover, prospective customers can view, accept, decline or comment on quotes.
Expense tracking is another impressive feature all Xero users appreciate. Businesses can connect their bank and credit card accounts to Xero to keep an eye over their expenses. Xero enables you to divide your expenses into different categories and split transactions. Moreover, Xero’s smart categorisation lets you remember the previous transaction categories. Thus Xero categorises new transactions automatically for you.
With Xero, you get a comprehensive reporting for everything from sales & budgeting to cash flow and more. There are 55 reports in total. You can customise your reports according to your needs.
Xero has three different pricing models: Starter, Standard, and Premium.
The Starter plan costs £10/mo and lets you send 20 invoices and enter five bills every month. The Standard Plan that costs £25/mo allows you to send unlimited invoices and quotes. The price of the Premium plan is £30/mo. With this plan, you can send unlimited invoices and handle multiple currencies.
Xero comes with a modern user interface. While the software is well-organised, it may take newbies some time to explore all the features it has. However, as soon as you’re acquainted with Xero, it is exceptionally easy-to-use.
Is Xero Worth It?
It wouldn’t be wrong to say that Xero is ideal accounting software for businesses of all types. It offers nearly every feature that a business needs. If you’re still not sure about switching to Xero, you can try their 30-day free trial. If you’re looking for certified partners for Xero implementation, you can get in touch with ACE Accounts. We will help you make the switch seamless.