![]() Automatic payment reminders encourage customers to pay on time, saving you from following up and dealing with unpaid invoices. One cool feature is that Xero lets you schedule recurring invoices (or “repeating invoices”) by setting the send date, frequency and end date. Here are some of the must-have accounting software features Xero offers to make accounting less tedious: Recurring Invoices Xero saves business owners time by streamlining processes and providing tools to accomplish financial tasks faster. Xero makes it easy to understand your business’s current cash flow situation. Many other accounting software programs use accounting terminology, but Xero uses terms like “invoices owed” and “bills you need to pay.” This clear language makes the software easy for anyone to understand, even if you aren’t familiar with general ledger accounting. A business owner trying to maintain positive cash flow would look for the blue line to remain above the gray line (see the screenshot below for an example).Īdditionally, we like that Xero avoids accounting jargon, such as “debits” and “credits,” throughout its interface, which is helpful because most business owners aren’t accountants or bookkeepers. For example, Xero’s cash-flow bar chart displays cash going out of the company as a gray line and cash coming in as a blue line. However, compared with competitors we reviewed, Xero excels at presenting information in an easy-to-understand way. Like other major accounting packages, such as QuickBooks, Xero’s feature-packed interface can sometimes feel a bit overwhelming. ![]() The main dashboard displays several key statistics business owners need at their fingertips, including how much money is in their business checking account, who owes them money, bills that must be paid and the current cash flow situation.Ī bar at the top of the interface contains several drop-down menus that house Xero’s features. When testing the software, we found Xero easy to navigate, with an intuitive and user-friendly interface. For these reasons and more, Xero is our pick for the best accounting software for growing businesses.īusiness owners can track bank balances, invoices, bills and more from Xero’s main dashboard. Even with all of these features, Xero keeps it simple with a user-friendly interface and visualization to help customers new to running a business ( see the screenshot from our demo below). As a business moves into higher growth phases, it will likely require more integrations to scale up and keep things running smoothly.ĭuring our testing of the software, we found that Xero was ideal for business owners without much accounting knowledge. ![]() Xero also integrates with over 1,000 third-party business apps – among the most integrations of any accounting software package we reviewed. ![]() In fact, all of Xero’s plans support unlimited users, which is great for expanding businesses. Unlike many competitors, Xero’s pricing and plans are based on features instead of user numbers. Compared to other software we reviewed, Xero stands out for meeting businesses’ needs in all growth phases. Many business owners with a growth mindset prefer choosing an accounting software solution and sticking with it over the long haul. However, as a company grows, its financial needs change. When starting a business, you likely begin as a small operation. 24/7 customer support 8.5/10 Why We Chose Xero as the Best for Growing Businesses
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