xero accounting software for small business

Xero’s banking and cash management features score high in our evaluation because they include all the functions we want to see in accounting software. Overall, we gave it a high score since it performs well in most of the A/P aspects we want to see in accounting software. Though it can work this way, we still don’t see it as a great solution since there’s no paper trail or change log when editing POs.Īside from those minor issues, the A/P management system is outstanding, easy to use, and comprehensive. Otherwise, the number of units available and in a PO will be overstated. Instead, you’ll need to edit the original PO and adjust the quantity not yet received. In Xero’s system, inventory on a PO isn’t reduced automatically when only a portion of a PO is received. We also found a minor problem in POs and inventory. It would be nice to have an option for a recurring expense to be deducted from your checking account automatically. It can create recurring bills, but you’ll need to record the payment of that bill manually. However, Xero cannot record recurring expenses automatically. Navigation is very user-friendly-everything is laid out neatly, and it’s not complicated, even for first-time users. The bills window is presented in a tabular format, wherein you can see pertinent billing details like vendor, invoice date, due date, amount paid or due, and the status of the bill. Instead, consider Zoho Books, which provides customer support via telephone. We don’t recommend Xero if you’re looking for superb customer service. Customer service: You can only contact Xero through email, but if you need immediate help, you can use a chat-bot or self-help information.

For nonprofits, we recommend QuickBooks Premier Plus 2022 Nonprofit Edition because it has features like end-of-year donation statements, statement of functional expenses, and donor contribution reports.

Although Xero gives some reporting flexibility through custom tags, it would take considerable customization to get the reports a nonprofit organization requires.

Nonprofit organizations: The overall framework of Xero’s accounting process is tailor-fit to for-profit organizations.

If you’re a bookkeeper who manages books of several clients or a business owner with several businesses, we recommend a provider in our list of the best multicompany accounting software.

Multiple businesses: It has a one-account, one-organization subscription rule-meaning every organization you handle will be billed separately, and you cannot add organizations to existing Xero subscriptions.

Xero accounting software for small business