Xero makes it easy to import records, transactions, and some other information from QuickBooks Online using its direct-conversion tool. If you're thinking about switching to Xero from a different accounting solution (or Microsoft Excel), you may have a lot of accounting data online already. Prices and plans listed here are for US-based customers. It also supports projects, advanced analytics, and employee expense claims. Xero Established ($70 per month), the version we tested, is the only version to offer multiple currency support. Xero Growing ($37 per month) adds unlimited billing and invoicing, quotes, and bills. Users can capture receipts using Hubdoc and run reports. Xero Early ($13 per month) has monthly limits of 20 invoices and quotes and five bills. Xero comes in three pricing levels, all of which kick in after 30-day free trials. Other places in which we saw improvement include reconciliation (using AI for automatic matches), customer records (mini-CRM), mobile apps (more features added), and reports (Short-term cash flow, Cash summary, and Business Snapshot easier to understand and more interactive). Since last year, the company has enhanced numerous existing features, focusing its efforts in three primary areas: invoices, reports, and online support. For this review, we tested Xero's Established tier of service.

Xero also lets you manage fixed assets-something competitors typically don't do. You can create records for customers, suppliers, employees, and items and then use those records in standard customizable transactions, such as invoices, purchase orders, and quotes. Built for the web from the ground up, its double-entry accounting framework supports sales, purchases, bills and expenses, inventory, and payroll. Xero skillfully automates and simplifies every element of small business accounting.

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Xero accounting software comparison