People ask me many times to recommend best small business accounting software. I have used many software in my career. However, I always recommend xero to my clients. Because I am using it for 6 months and I love xero and I am sure that my clients will also love xero. I bet ! Have a read of our xero review, know xero pricing and get save huge with xero discount codes.
What is xero accounting?
Xero is cloud based accounting software. Xero is founded in 2006 in New Zealand. Xero is used by more than 862000 subscribers. Xero users are growing amazingly due to its easiest functionality and features.So what is the special in xero that more and more businesses are choosing xero? Lets see amazing features of xero which makes xero the best small business accounting software.
Why is xero the best small business accounting software?
Error free: It never hangs. It never does errors. It generates report in part of second !
Easiest reconciliation facility: xero makes time consuming process of reconciliation very easy. You can see two columns: one regarding transaction details and one to do reconciliation. There is also features of bank rule, automatic suggestion for possible transaction, minor adjustment, create transaction in reconciliation screen, making part payment, cash coding ( to do reconciliation in bulk) and much more.
Speed: It is really very fast compared to well known software.
Support: Xero has email support. You can mail xero and get answer within 24 hours for query. I get replies for my all queries and other I have solved via xero help centre
Knowledge centre :Learning xero is very easy due to its knowledge centre. Where you can access thousand of posts with videos. You can also get answer of your query with xero community.
Repeating bills/invoices: It is small but helpful feature. Many well known software does not provide this facility and it is meaning less to prepare same bill/invoices per month again and again.
Online payment facility:You can get small button for pay online on your invoice and receive payment through various popular payment services. Payment service supported are authorise.net, braintee, dps, eway, gocardless, paypal, stripe.
Inventory management: Xero gives you facility to manage inventory with accounting for the same. There are two types of inventory management in xero: tracked and untracked. You can get facility to manage and count inventory items when you use tracked inventory. Special reports are also available specially for inventory.
If you prefer to use any other inventory management software, ad ons are also available to integrate xero with other system. You can integrate following inventory management systems with xero:
- Dear systems
- Unleashed inventory
- manu online
- and many more. (Check other option here)
Payroll support: Employee payroll is easy thing with xero. You require input of basic data of payroll and there is facility to do payroll with few clicks. There is also privacy features for access of payroll. You require to purchase payroll additionally in xero.
You can integrate other popular payroll app with xero. Gusto, surepayroll , appogeehr etc. are supported.
Xero helps you to prepare data for tax filling. All accounting things are very smooths in xero. Initially you require to set up tax rate as per your country law and you get tax options while issuing invoices or entering bills. Various tax reports are also available in xero. If you are from australia/ new Zealand, you can file taxes with xero tax. For US taxes, you can get help of additional software such as Avalara.
Xero provides you audit facility together with accounting. You can see at the bottom of the invoice/bill/entry that transaction is entered by whom, approved by whom, edited by whom, voided by whom. This creates accountability in accounting system. If there is any error, you can easily find who makes mistake. See the screenshot to get the idea.
Xero provides you awesome reporting facility with customization option. You can have facility to prepare custom report as per your need. You can report for quarter, current financial year, year to date or as per your requirement. There is also facility to compare actual data with budgeted data. Some people loves graph. They will not disappoint with xero. Graphical representation of data is also available.
Link system: Xero is designed perfectly keeping mind the accounting work. It is obvious that while doing accounts, we require to compare and access various data in same time. Xero gives link to each data and link can be opened in new tab. In screenshot, you can understand this thing. I can go to payable report. See my creditors month wise. Now, I can click NSDL and see all the bills related to NSDL. Or I can copy link by putting courser on NSDL and open it in new tab. Similarly, I can see data for different month in new tab by copy link address. This makes xero the easiest accounting software. You can open the data in new link, use as per your need and close the tab. You can access as many reports/data as you want at the same time!
Xero supported vast number of ad ons. You can integrate xero with shopify, woocommerce, paypal, stripe, zapier, fundbox, receiptbank, bill.com, gusto, tsheets, freshdesk, proworkflow, google docs, boxkite, Gsuite,liveplan and many more.
Due to easy integration with various app, eCommerce, inventory management, time tracking, payroll management, job costing, practice management, document management, business plans etc are easily being done with xero.
Xero pricing ranges from $9/month to $70/month. Mid range plan is $30/month covering unlimited invoices/ quotes/bills/bank reconciliation with payroll up to 5 people. However, this plan includes only home currency. If you want to get multi currency feature, you require to go with premium 10 plan.
If you are new to xero and learn Xero systematically, please join our Xero Crash Course FREE . Here is the link to join.