Their customer reviews cannot be beat, and they offer tons of fantastic features. Reviewers were extremely likely to recommend Xero’s software, and praised their platform for it’s performance, availability and product scalability. Unhappy reviews were hard to locate, and the lowest score we were able to find for this company was 5 out of 10. But even these reviews were quick to state that the pros definitely outweighed the cons. But that really depends on your needs and which package you choose.
By clicking on the menu categories, a drop-down menu will appear to show related subcategories. If you haven’t used FreshBooks, the setup wizard on the dashboard (see image below) will guide you through the process. See how Xero helps make it easy for small businesses to stay on top of their finances, so they can focus on doing what they love. You have the option to either manually import data yourself or get a helping hand from your accountant. TurboTax is owned by Intuit, the company that created QuickBooks—which means the software syncs with QuickBooks, but not with Xero, FreshBooks, or most other players in the game. Like several competitors, Xero provides tools to customize the look and feel of your invoices.
FreshBooks vs. Xero Comparison
Plus, with prices starting at $15 per month, Xero is affordable. The quality you get for the amount you spend is the essence of bang for your buck. We recommend FreshBooks for all business customers that prioritize invoicing tools. Of all the accounting software platforms we reviewed, FreshBooks’ invoicing functionality impressed us the most.
- While FreshBooks includes bills as part of its Expense dashboard, Xero has a unique centralized bill dashboard that was recently launched by the company.
- The quality you get for the amount you spend is the essence of bang for your buck.
- Meanwhile, Xero’s banking and cash management system allows but doesn’t require a bank feed connection.
- Online business debt management has become widely popular because it meets the specific needs and challenges faced by …
- Our simple yet robust interface has a very short learning curve, so you and your team can hit the ground running.
We’ve included a snapshot of their ratings below so you can see exactly how other’s have rated their software. The way you build a website can directly impact the success your website has in attracting and retaining customers. To answer that question, you first need to decide what exactly you need your system to accomplish. Therefore, it is essential for nonprofits to use accounting software that is specifically designed to meet their requirements. With the advancement of technology, there are numerous accounting …
Xero is cloud-based accounting software for small to medium-sized businesses with a subscription model offering three plans priced between $15-$78/month. The software has a broad range of features, including bill payment, inventory management, and the ability to integrate with numerous apps like HubSpot and DocuSign. The platform has a user-friendly interface, making it ideal for small business owners without extensive accounting knowledge. FreshBooks offers online accounting software designed specifically for small- to medium-sized businesses, with features accessible via desktop or mobile. The customizable “Let’s Talk” plan stands out as a unique option, allowing users to select the features they want. However, limitations in features, inefficiencies, and bugs hinder its scalability and overall user experience, making it seem fairly average in terms of usability and other aspects.
Business Debt Management Companies
And if you need a hand our phone support with a live rep extends to both you and your accountant with no additional fees. The safety of your private data is our top priority, that’s why it’s protected by 256-bit SSL encryption—the gold standard in internet security. You can even connect your bank accounts for automatic bank reconciliation trusting your data will always be private and secure. FreshBooks is a cloud accounting solution that uses industry-leading secure servers.
Mobile app
While FreshBooks requires you to upgrade to its Plus plan to access this feature, even the most basic Xero plan offers bank reconciliation, including its new AI-powered predictions feature. FreshBooks and Xero are both powerful accounting tools that can help businesses keep their financial information and assets organized and accessible. But the two apps are geared toward different audiences, which explains their functional differences. Xero, on the other hand, is best for small businesses that want to take the step up from tracking expenses in Excel. It has all the functionality you need to manage transactions, calculate payments and track projects at an affordable entry point. It’s available online 24/7, which is great for businesses that have unusual operating hours.
QuickBooks also has a more intuitive interface than Xero as well as a desktop version. Xero’ business model is to get people ‘hooked’ and slowly up the price. Sometimes even charging for things that were already part of the product and calling it an add on feature. Our support team is here to make switching to FreshBooks from any other software (even spreadsheets) super easy, with no interruptions to your business. FreshBooks doesn’t offer bank reconciliation with its least expensive option, FreshBooks Lite.
From Xero to Hero: 95% Of Small Businesses Say FreshBooks Is Easier to Use
But Xero’s reporting is more robust thanks to its detailed accounting features. Can support larger small businesses with dozens of employees; all three plans include an unlimited number of users. FreshBooks’ unlimited time tracking feature and invoicing capabilities are better-suited for freelancers, independent contractors and other self-employed professionals. FreshBooks offers a user-friendly interface and a fresh approach to accounting that keeps users learning in an engaging fashion how to work around the various features within the app. FreshBooks is ranked the Best Accounting Software for Sole Traders and Small Businesses by PCMag. And we do more than just invoicing and payments – we have award-winning support, are twice as easy to use, and cost half the price.
Accounting software adapts to these changes seamlessly, accommodating the evolving needs of the business. This scalability ensures that the software remains a valuable asset as the business changes. You can track time on the go with a start-stop timer and location-based tracking on mobile to link costs to jobs and projects. Moreover, you can view job profit margins in an easy-to-read chart, with a breakdown of costs, and quickly determine how much remains to be invoiced. You can easily create custom purchase orders from templates and email them as PDFs from within Xero. Plus, you can convert purchase orders into bills for payment, or into invoices with added notes to recoup costs.
Each additional user costs $11 per month if you wish to grant access to more employees. Transactions made using FreshBooks Payments, which allows you to accept credit cards online, cost 2.9 percent plus 30 cents per transaction. FreshBooks also offers a product called Advanced Payments, which is statement of activities nonprofit used to accept credit card payments by phone and in person. This service costs $20 per month plus 3.5 percent and 30 cents per transaction. Xero is the second-most popular accounting software program in the U.S. after QuickBooks, and is the market leader in several countries, such as Australia.
Check out our growing YouTube channel where we go deeper into the digital tools and share more of our personal experiences growing our businesses. With the Standard and Premium package, you can also create customizable purchase orders, payroll direct deposits and checks, and there is a federal and state e-file and e-pay option. In the realm of business operations, even the smallest details can have a significant impact on efficiency and cost savings.
Projects
Even with FreshBooks Lite, I was able to create and send unlimited customized invoices, whereas Xero restricted me to 20 per month. Xero is an accounting software best suited to small businesses looking for high-level accounting systems. FreshBooks is better geared toward freelancers and very small businesses that need to send a lot of invoices to clients. Though they have different functionalities, both made our list of the best accounting software. Automatic Recurring Invoices in FreshBooks combined with Recurring Payments makes it simple for clients to pay and for you to accept payments for products or services rendered—hands-free.