Xero is an accounting software product that enables you to maintain complete control over your organization’s spending and expenses. It allows you to easily capture data by uploading pictures of your receipts, promoting accurate, automated expense reporting. The system can track projects closely and fully integrates with a range of financial institutions to streamline the bank reconciliation process.
Xero is offered as software as a service (SaaS) and on Android and iOS mobile devices.
Who Uses Xero?
This product is designed to be a small business and self employed accounting software solution. It is currently being used in retail, accounting, finance, marketing, website design, government services, and telecommunications.
- Expense reporting: Xero allows you to capture data by taking pictures of receipts and uploading them to the system to accelerate the expense reporting process. The program automatically scans receipt photos and adds paid expenses directly to your spending account, so you always know what’s happening with your organization’s spending.
- Pay bills: The system provides you with a comprehensive overview of active bills and invoices. An easy to understand interface shows you what bills are due next and allows you to configure recurring payments; this ensures that your organization is always paid up on all of your various accounts and expenses.
- Track projects: Xero enables you to closely monitor ongoing projects within your organization. A central dashboard shows you developing, active, and closed projects on one organized screen. It aggregates your tasks, files, expenses, and budgets into a central location, promoting productivity across multiple teams and departments.
- Bank integration: Xero streamlines the bank reconciliation process through practical integrations with a wide selection of banks and financial institutions. You can optimize financial management capabilities by automating bank transactions, tracking incoming and outgoing cash flows, and organizing transactions in categories.
This product has three price plans available: Starter, Standard, and Premium; they vary according to the scale of business and number of features needed, optional add-ons are also available. Full pricing details can be found on the vendor’s website, where you can also find out more about the product itself and request a free trial.
If your business would benefit from centralized accounting software that helps you manage multiple projects and employee teams, you’ll likely want to consider Xero.