Growing Pricing Plan Details

All three plans come with an optional add-on for payroll with Gusto for $40 per month plus $6 per month per person. Gusto is a platform that automates payroll filing for all 50 states in addition to automating payroll taxes, deductions and filings and providing employees with the platform to view pay stubs and W-2s online. Xero and QuickBooks Online have a lot of similarities, as both have strong features and numerous integrations. While the software is well-organized, it does have a steep learning curve (not as steep as QuickBooks, but it is more difficult to learn than other cloud-based options). It takes quite a while to explore all of the features it has to offer, but once you get acquainted with the software, Xero is fairly easy to use. Getting started is the most difficult part, and it’s this learning curve that lowered our ease of use rating to 3.8/5.

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Your use of the Xero services is subject to the Xero Terms of Use and your use of the Hubdoc services is subject to the Hubdoc Terms of Use. †Invoice limits for the Early plan apply to both approving and sending invoices. Hubdoc is included in Xero Early, Growing and Established plans as long as it’s variable overhead definition connected to your Xero subscription. Given that there are several invoicing software on the market, it’s worth putting in some time to research your options before choosing one for your business.

Best Accounting Software for Small Businesses of 2024

1. In the Early plan, the least expensive subscription, you can send up to 20 invoices and schedule up to five bill payments only.
2. Multiple pricing increases over the years have driven up the cost of the software, and customer support isn’t the best.
3. 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).
4. The basic plan allows users to send unlimited invoices and estimates and track unlimited expenses up to 5 clients, so if you have more clients than that, you’ll need to upgrade.

QuickBooks Online is limited to 25 users on its most expensive plan but is easier to use, offers tax support, and has stronger mobile apps. NerdWallet independently reviews accounting software products before determining our top picks. We collect the data for our software ratings from products’ public-facing websites and from company representatives. Information is gathered on a regular basis and reviewed by our editorial team for consistency and accuracy. 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.

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Users that are new to bookkeeping won’t be overwhelmed by Xero’s simple and easy-to-navigate layout. This layout makes the reconciliation process, among other accounting tasks, particularly easy. The software shows you potential transaction matches side by side, so you can immediately see if the match is accurate without having to click anything. Access Xero features for 30 days, then decide which plan best suits your business. Access all Xero features for 30 days, then decide which plan best suits your business. If you didn’t receive an email don’t forgot to check your spam folder, otherwise contact support.

For example, you can give all employees the ability to send quotes and invoices, allow some to enter expenses and limit who can see the company’s complete financial picture. To keep things organized, Xero logs every action users make and compiles the history of every transaction. We’re committed to the security of your data and provide multiple layers of protection for the personal and financial information you trust to Xero. Find out more about Xero’s commitments to documents requested in a letter of credit transaction lc document data protection and data security.

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. Additionally, customer support has gone downhill since our last review. Still, despite the price ruling out the software for some small businesses, Xero has a lot to offer for medium and large businesses or those in need of multiple users. You’ll receive your invoice at the end of your monthly billing period. FreshBooks starts at $19 per month after the signup discount and incorporates standout features like team roles and time tracking on all plans. The basic plan allows users to send unlimited invoices and estimates and track unlimited expenses up to 5 clients, so if you have more clients than that, you’ll need to upgrade.

Other features include reconciling bank transactions and capturing bills and receipts with Hubdoc. In contrast to allowing unlimited users, Xero does limit you to one organization or business per subscription. In other words, if you need to do accounting for more than one business, you’ll need to purchase an account for each one. This is a real drawback for owners of multiple businesses or bookkeepers who work simple rent receipt template in excel with multiple clients. Xero offers the option to add full service payroll support from Gusto to any plan. This Gusto-Zero integration starts at $40 per month plus $6 per employee.