You can see Top 10 Accounting Tools for Small and Medium Businesses and Top 3 Accounting Tools for Small and Medium Businesses to look into details.

Xero is a tough accounting solution, including multifaceted accounting features, plenty of reports, more than 700 integrations, and indefinite users. It comprises of mobility and modern UI of cloud-based software. The software is to date used by more than 100,000 users and is the prime solution for accounting for over 16,000 accounting organizations. The company has currently added a feature for project management, which was one of the major disadvantages of the business previously.

Overview of the Features

• Keep accurate record
• Keep watch on the health of the business
• Get paid faster
• Accept payment
• Access management
• Business performance dashboard
• Multi-currency accounting

Editions and Pricing

Starter	$20 per month	·         Five invoices and five bills ·         20 transactions ·         Live bank feeds and more
Standard	$30 per month	·         Unlimited invoices and quotes ·         Reconcile bank transactions ·         Live bank feeds and more
Premium	$40 per month	·         Unlimited invoices and estimates ·         Project management ·         Multi-currency support and more

Capabilities and Supporting Set of Features

Dashboard: When you log in to the software, at first, it will direct you to the dashboard. The dashboard will show you the graphs business bank account, account watchlist, business saving account, invoices, total cash in and out, bills, and expenses. You can rearrange the order of the charts. The navigation menu on the top will provide you options for the dashboard, business, accounting, and contact. Furthermore, you can get access to create a button, recent notification, search button, and help button.

Invoices: In the navigation menu, there is an option of business. In that option, there are various features such as invoices, quotes, sales overview, bills to pay, purchase order, purchase overview, expense claims, products and services, and pay run. In the invoice option, you can create custom templates and customize them extensively. It will further provide you time-saving necessities, including recurring invoices, automatic invoice reminders, default payment settings, bulk invoicing, and replication of previous invoices made.

Create New: At the navigation bar you are given an option to create new. Here you can create a new invoice, bill, contact, quote, purchase order, manual journal. Furthermore, you can add money spend, received, and transferred.

Charts of Accounts: The accounting option will provide you different features, including bank accounts, account transactions, aged payable and receivable summary, balance sheet, profit and loss, sales tax report, find and recode, fixed assets, manual journals, and charts of accounts. The charts of account feature you can customize the default accounts or can choose to import your own chart of accounts. It will further provide you an option to add an account, print PDF, import, and export.

Contacts: In the contact option, you can see the contact detail of the customer and supplier along with the business details. You can import contact records and create contact groups. Furthermore, you will get the option to import, export, send statements, and add an account. The feature will show you all your customers, suppliers, and employees. It will provide a smart list of items purchased, outstanding, overdue, and paid.

Mobile Accessibility

There is an accounting application of Xero for iOS and Android users and separate mobile application for Xero expenses and Xero Project.

Support

• Email Support
• Online Support
• Live chat Support

Integrations

Xero has integration with Woocommerce, salesforce, and others.

Pros and Cons of Xero

Pros

• Unlimited Users
• Numerous integration
• Suited for large businesses
• Advance Features
• Double-entry accounting

Cons

• Poor customer support
• Learning curve

Differentiator

• Easy to use as compared to Quickbooks
• Strong Accountability
• Mobility
• Lots of Integration

For further details, please visit the Xero Website.

Read Also – Online Accounting Software Product Review : Xero