Xero: Online bookkeeping and software

New Zealand-based Xero is one of the fastest-growing online accounting service providers on the planet. Operating out of 20 offices around the world, Xero is helping 540,000 businesses manage their finances everyday. This is an easy-to-use program that was designed specifically to meet the accounting challenges of a small business.

Pricing and packages

Xero provides small business owner three different packages to choose from, based on what their monthly needs are:

• Starter. The Starter package is priced at $20 United States Dollars (USD) a month and includes the ability to create and send out 5 invoices, enter 5 bills and reconcile 20 bank transactions. Plus, you get the standard features which include free around-the-clock support services, unlimited users, file storage and integration with over 400 different apps.
• Standard. The most popular package, the Standard package has all the same features of the Starter, but for $30 USD a month your small business can create and send an unlimited number of invoices and bills along with reconcile your bank transactions.
• Premium. The Premium package is ideal for the small business that operates globally. It costs $40 USD monthly, but for that price you get the same unlimited features as the Standard along with the ability to work with multiple currencies.

Without having to hand over your credit card information, Xero will allow you to try all of the listed features of their online accounting software for free for one month. This gives you a chance to see how it works and if it will fit into your small business operations seamlessly.

Features and benefits

• Number of transactions. With the exception of the Starter plan, which allows for 20 transactions, Xero gives you an unlimited amount of bank transactions each month.
• Number of employees. Xero has over 1,220 employees around the world in 20 different offices.
• Invoicing. With online invoicing generation, users are able to see when a customer has opened the invoice. All they need to do is click on the payment link and enter their information for you to reconcile the account.
• Free trial. A one month free trial gives you the opportunity to see how the system can be integrated into your small business, without any upfront commitment from you.
• Australian tax system. Through the use of easy to find and read reports, completing yearly tax forms is made easy. You can also use Xero to create and fill out all of your 1,099 reports just by creating the criteria needed to follow.
• Reporting features. Interactive reports and budgets are seen in real time right at the user dashboard any time of the month.
• App. Xero can be accessed from your iPhone, iPad or Android mobile device by downloading the app from either the App store or Google Play.
• Support centre. With Xero you can get help and support 24/7, plus you have the option of browsing through a list of specialists when you need a solution to a specific accounting, bookkeeping or other issue.