Xero software Review
Xero accounting software is being marketed as one of the best alternatives to Quickbooks. It is a tool that gives you an idea of your cash flow in real-time, as well as various other modules and tools to help you control your finances. You may already be using Xero or Quickbooks, but I wanted to do a Xero review in more detail to see how well it works for e-commerce stores.
Expanding an e-commerce site is enough to work, so writing your reports in an Excel sheet or, however, you’re doing it right now, won’t fly.
So keep reading to learn more about the Xero accounting software, and use it to see if it beats those accounting mobile apps and if your online store can use these tools.
Xero Review: Features
Cash Flow Interface
It doesn’t matter what business you do, because the cash flow module is the most useful and impressive area of the Xero software. An online accounting panel is always helpful, and you can create budgets to estimate future revenues. My favorite part of online shopping is inventory management, which tracks sales and purchases for quick billing.
Billing as boss
This mainly applies to companies providing services or B2B offers, but some online retailers are going to use billing quite a bit. So it’s nice to know that you can quote customers, as well as customize repetitive invoices for specific customers.
Account reminders are also delightful, so you never get a customer who forgets about you.
Collection and payment management
The cost section is one of the outstanding features for e-commerce businesses because it allows you to pay suppliers and manufacturers. You are free to create and email custom purchase orders whenever you want and use a copy to bill for payments.
Paying your employees
Do your employees like to get paid? In this case, Xero has built-in timesheets that do not require additional money. The combined payroll and accounting software has an elegant interface, and all calculations are done for you.
When the tax season rolls around, it’s nice to have a tool that adds everything to you. Xero accounting software allows you to export to tax software if necessary. Sales tax rates are generated automatically, and you can quickly file a tax return to make sure you are complying with the law.
Transforming data from Quickbooks
Since Xero is a direct competitor to Quickbooks, it makes sense that some customers are going to make a switch. So you don’t have to worry about transferring, because all your current data is moving around without much hassle.
It is clear that this accounting software is reliable. Xero integrates with your online store by offering an online marketplace with extensions, so if you want to combine with payment processors such as Square, Stripe, or PayPal, it’s possible.
You are also offered a variety of e-commerce extensions. For example, you can choose from Shopify, Squarespace, Bigcommerce and more. So you don’t have to go out and buy a third-party integration tool or enter all the data yourself.
Xero offers a 30-day free trial, which is an exception given that you don’t need to use a credit card and you can play around with the interface to see if it’s right for your company. Xero also has a special six-month trial period, but I’m not a fan of that, so we’re going to focus only on what your company will pay after the first six months.
Starter: For $9 a month you can create and send five invoices, enter five accounts, agree on 20 bank transactions, provide access to an unlimited number of users and get all the software features, except for the calculation of wages, customizable purchase orders, federal and state-level electronic file, and e-pay, direct deposits and checks, as well as several currencies.
Standard: For $30 a month, you can create and send an unlimited number of bills, pay an unlimited number of bills, get an unlimited number of bank transactions, and receive all the features from the Starter’s plan. Although, with this plan, you also get access to salaries for five employees, and you can set up purchase orders, federal and state electronic files, and electronic payments, direct deposits, and checks.
Premium: For $70 a month, you get everything you had in the previous plan, but your salary is increased to ten employees, and you can also work with multiple currencies.
Overall, the price of Xero is pretty simple. While the advertising period is good for saving money right off the bat, it’s just an advertising tool allowing you to pay more in the long run.
Originally written by George Philip