Accounting Software Do Beautiful Business
Keep in mind that the ability to use multiple currencies in the software and invoice is limited to the company’s highest tier, at $70 the difference between gross sales and net sales per month. If using multiple currencies is a priority to you, consider other platforms that offer this capability at a lower cost. Zoho, for example, is accounting software with a free invoice platform that allows you to bill in multiple currencies. 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). In general, we were pleased with Xero’s customer support options.
Once you sign up, Xero provides several guided tutorials to acquaint you with its tools, such as connecting your business bank account, adding customers and creating invoices. Many pages within the app have how-to videos and links to a step-by-step guide, which is great for business owners who aren’t very tech-savvy. New users can access a free 30-day trial, which doesn’t require a credit card for sign-up. We liked that the trial version of Xero is full-featured, meaning you can test it out with real data. This gives Xero an edge over competitors that don’t offer such generous terms.
The report showed digitally enabled small businesses were significantly more resilient throughout the COVID-19 crisis, and outperformed their peers in most performance metrics. More complex businesses in particular are wanting to make managing their employees easier overhead expenses and get deeper insights into their business performance. Sage 50 Accounting’s Cash Flow Manager tool is a helpful feature for people who want to better understand how future transactions could impact their business. The tool also lets you adjust the time frame to see how your business has changed over time.
A business owner trying to maintain positive cash flow would look for the blue line to remain above the gray line (see the screenshot below for an example). 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. The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. Learn more about how we rate small-business accounting software. FreshBooks offers unlimited time-tracking in its lowest-tier Lite plan, whereas Xero users would have to opt into the highest-tier Established plan for that feature.
Xero Pricing
- A fantastic trait of small businesses is that they can be very agile in adapting and responding to change.
- We also ensure that the software offers most standard accounting features and reports, awarding higher rankings to those that provide advanced services, like tax filing.
- This is ideal for growing businesses that don’t want to waste time on technical issues.
- All pricing plans cover the accounting essentials, with room to grow.
- We believe everyone should be able to make financial decisions with confidence.
- 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.
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. Manage your finances, control cash flow and integrate with apps. To get the most out of your software, Xero has 1,000+ integrations to choose from.
Gain deeper insights into your financial performance
We researched and analyzed dozens of the best accounting and invoicing software solutions to help small businesses choose the right accounting software for their needs. Our information sources included the company’s website and software demos. Additionally, we studied user reviews for independent opinions on the software’s pros and cons. When looking for the best accounting software for growing businesses specifically, we focused on pricing tiers, the number of integrations, and the breadth of features and tools.
Refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain how to create a pro forma balance sheet our independent editorial integrity. Let us know how well the content on this page solved your problem today. All feedback, positive or negative, helps us to improve the way we help small businesses. This can be added to a Growing or Established plan for $39/month.
Limits on bills and invoices in the entry-level plan
We’ve seen so many small businesses implement digital tools and grow their confidence, and we’re hearing from our customers that they’d like to be able to do even more with Xero. You’ll receive your invoice at the end of your monthly billing period. †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.
Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. 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. Xero often gets praised for its robust feature selection by its customers, and we have to agree. Overall, Xero has a set of features that easily rival competitors like QuickBooks Online.
