With the multi-currency accounting feature, you can pay and get paid in more than 160 currencies. You can see how currency markets affect your cash flow and profit, and view reports in local or foreign currencies. There’s the option to assign a default foreign currency to specific contacts so that they’re in the right currency when you create invoices or quotes, receive bills or send purchase orders. Xero offers 50+ reports, including sales tax report, profit and loss, and journal report.
Plans for small clients
The software is especially popular among businesses trial balance operating internationally due to its multi-currency support and global banking integrations. Upgrade to access more advanced features, automations, and powerful data insights. While Xero has a lot going for it, pricing increases, a lack of built-in payroll, and limited features on its least expensive plans are potential issues.
- This is really helpful for getting some immediate insights into your business’s financial performance.
- Once you’ve signed up to Xero, just connect your Xero organization from within Gusto and set up the integration to give you a streamlined payroll solution that’s flexible enough to suit your needs.
- Xero accounting software for self-employed businesspeople makes it easy to manage finances and collaborate.
- If you want to learn how the software works, there’s a comprehensive knowledge base that contains learning materials such as help articles, videos, guides, and online courses.
- Jump online with your advisors and teammates to foster great communication and easier working.
Monitor business performance
Xero is not free, though it does provide a free trial of the software for 30 days. Wave, QuickBooks Accountant Zoho Books, and ZipBooks are a few of our top picks for free accounting software. Sync Xero with software you already love or easily find and try new apps designed to save your business time and money at the Xero App Store. Compare the top 5 accounting automation software solutions in 2025. Identify the features your finance team needs to automate tasks and improve accuracy. These promotional prices represent significant discounts from regular rates, making it a good time for businesses to implement Xero’s accounting solutions.
- Xero uses rules to match bank statements with invoices or bill payments.
- This ensures that you and your team can stay connected and collaborate seamlessly, whether in the office, on the go, or working remotely.
- On the other hand, FreshBooks may be a better fit for freelancers and solopreneurs, as the capabilities are easier to navigate.
- Tipalti Procurement automation software lets employees submit purchase requisitions (giving all relevant stakeholders a common view) and includes automated approval routings.
- Read these materials to stay up to date with regulatory and other changes around tax and record keeping.
- Xero provides strong security for your data, though I feel it falls short in 1 key area.
Schedule and track your bill payments
Explore Xero today to see how it can transform your financial management experience. Xero’s tax tools simplify compliance by organizing financial data and generating reports for tax filing. It’s especially useful for businesses managing VAT, GST, or sales tax. Xero allows multiple users to access the system simultaneously, making it easy for your accountant or team to collaborate on financial tasks. Xero automates repetitive processes like bank reconciliation and invoice tracking, freeing up your time to focus on growing your business.
For users who prefer more guided assistance, xero accounting a network of advisors is available for personalized support. Connect Xero to popular apps, integrations, and financial services that suit your business needs, from payment platforms to advanced analytics tools. Xero’s built-in invoicing lets you create customized invoices by including the company logo, custom message, and added fields. I like how your clients can click on the Pay Now button on the invoice to make payments using a credit card, debit card, direct debit, or any other payment method of their choice. Xero’s key features include online invoicing, project tracking, bill payment, expense claims, and more.