Xero is another big accounting software provider. Xero is ideal for invoicing, inventory, payroll, and expense claims, it can also import your banking, credit card, and PayPal data, and there’s an app that works on both iPhone and Android.
Xero is based inNew Zealand and was Founded in 2006, it’s software is designed for small and growing businesses. Although Xero has not been around as long as Sage & Intuit, as of February 2018, Xero has a total of 253,000 users in the UK alone.
As a cloud-based solution, Xero can easily be accessed from all types of devices with an active internet connection. It is built on a double entry accounting framework and its robust accounting features enables small businesses to view their cash flow, transactions and account details from any location. Bank transactions are all automatically imported and coded.
Online bill payments help keep track of spending and stay on top of bills due, improving relationships with the suppliers that provide critical business services. It also allows businesses to manage personal expenses with a mobile review and approval process of each receipt. Xero offers unlimited user support and integration with over 600 systems through its add-on marketplace, including Curve, Receipt Bank, and Vend. It also updates its software on a regular basis.
In some areas, Xero’s accounting features are limited, for example it has only two tracking categories.
For this software, business users pay a subscription amount for the most basic version. In order to access functions such as expanded time tracking and inventory tracking, businesses need to purchase add-ons on top of the subscription. Importing data is free, but using payment services like Paypal or Stripe carries a cost.
Find out more about Xero here: www.xero.com/uk/