Xero

Pricing

From £10/mo (10+ transactions, reconcile 20 transactions, 5 invoices/quotes/bills); £22/mo (unlimited transaction Standard plan); £27.50/mo (Premium, includes multi-currency option)

Functionality

API, App, Autocode, Bank rec, CIS, Client view, Dashboard, Ecosystem, Expenses, Fixed assets, Multi-currency, MTD for VAT, Pay, Payroll, Project, Quote, Stock

Integration

Xero HQ, Bank feeds, Futrli, GoCardless, Hubdoc, PayPal, Receipt Bank, Soldo, Workflow Max, 700+ integrated apps

Firm size

  • Small
  • Medium
  • Large

Free trial

30 days

User reviews

4.6
(422 user ratings)
Our trusted reviews are independent, first hand opinions taken from the UK's largest survey of business software users. These ratings are used to decide the Software Excellence Awards from the Accounting Excellence 2018 programme

Functionality

4.7

Support

4.4

Ease of use

4.7

Value for money

4.5

Key Features

  • Invoicing: users can create, save and email recurring invoices automatically
  • Xero connects to more bank feeds (9) than any other accounting software provider so transactions can be imported automatically
  • Machine learning-powered automatic coding of bank feed transactions eliminates the need to enter transactions and codes manually
  • Where possible, bank transactions will be automatically matched to the most relevant invoice, ready for posting by the user
  • MTD-compliant VAT filing and links to HMRC API data feeds
  • CIS routine calculates deductions automatically - mechanism available as an open Beta to CIS contractor enabled organisations
  • Report and budget templates can be tailored for different businesses and shared across multiple clients
  • Bills, receipts and other documents can be "fetched" from 150 financial institutions by companion Hubdoc app
  • Payslips, payments, pensions data and all the other necessary forms are handled by companion Xero Payroll module
  • Xero Projects tracks time and costs and integrates with Trello and Xero Payroll to give visibility on profit progress and profit
  • Xero Expenses app captures receipts and automatically creates claims in Xero
  • Ecosystem of 700+ third party apps makes Xero a platform that can handle almost any financial task
  • Practice Management tools: Xero’s tools help practices manage work, time and client invoicing, create workpapers and reports

Product screenshots

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What Xero says

Born in the cloud, Xero’s mission is to rewire the global economy, connecting millions of businesses to their advisors, banks and each other. The company has 1.6m subscribers in over 180 countries, with more than 355,000 of those in the UK plus a thriving ecosystem seamlessly integrating with 700+ apps.

Xero has more bank feeds set up than any other accounting software provider, and was the first to introduce the UK to the concept of bank feeds in 2009. In 2018 Xero launched a bank feeds API to extend integration to leading fintechs including Tide, Starling, TransferWise, Revolut and Soldo Xero’s automated coding solution is a tuned machine learning model for every single individual customer. This model learns invoice coding behaviours, notes any mistakes recognised by accountants or bookkeepers and includes corrections.

2019 roadmap

Xero continues to focus its efforts on developing and improving AI, in turn improving automation features that free up valuable time for small businesses to take control of their cash flow and run their businesses more strategically.

With the acquisition of Hubdoc this year, Xero will extend code-free accounting by streamlining financial document collection and data entry.

Xero is also accelerating its development of accounts preparation and tax filing within the platform with the recent acquisition of Instafile.

Combined with the launch of Xero’s Making Tax Digital for VAT open beta functionality, Xero is set to provide valuable direct tax filing functionality for accountants to manage for their clients in the UK.

What users say about Xero

Read user reviews

    Pros

  • Cloud and mobile access anywhere and anytime
  • Very intuitive and easy to use
  • Lots of useful functions
  • Informative graphs on dashboard
  • Great connectivity with more than 700 add ons

    Things you might change

  • Expense approval needs improvement
  • Doesn’t have phone or live chat support
  • Some reporting functions need improvement

Functionality

4.7

    Pros

  • User-friendly interfaces and best links to other apps/banks
  • Excellent analytical capability - very versatile

    Things you might change

  • Slight lack of flexibility on sales invoice data field structures
  • Some of its own features (expenses etc) are not as good as add on partners
  • Some of the core areas (eg quotes) need a refresh
  • Could do with extra functionality on things such as purchase orders

Support

4.4

    Pros

  • Support department responsive to requests and suggestions
  • Xero help page is very useful for beginners

    Things you might change

  • Would benefit from more support options
  • Faster response time required
  • Could do with a live chat feature or something more immediate than the email response

Ease of use

4.7

    Pros

  • It is very intuitive and easy to use
  • Clients can can use it easily too
  • Easy to use and to correct client mistakes

    Things you might change

  • Not that intuitive to non accountants

Value for money

4.5

    Things you might change

  • Standard pricing needs to be lower for greater uptake
  • Could have better pricing options for micro businesses

What AccountingWEB says

Since it first reached the UK in 2007, Xero has the led the revolution in UK accounting habits. More than 80% of UK practices now support many of their clients on cloud systems, and at the time of writing, Xero remains the most popular program.

Xero’s success was driven by appealing to more adventurous, cutting-edge practitioners, who were attracted in particular by the ecosystem of associated apps such as Receipt Bank, Workflow Max and Spotlight Reporting that made it possible for them to string together flexible solutions that automated client business processes.

But the competition is becoming more intense as more and more accountants embrace cloud accounting. Making Tax Digital prompted more mainstream accountants to look for cloud solutions, many of whom have been wooed by the cheaper QuickBooks Online.

Xero retaliated with some interesting acquisitions in 2018 that will see it moving into compliance tools for collecting client data, preparing final accounts and filing tax returns. The next year or two will determine whether this shift is successful in cementing Xero’s leadership position in the UK market.

User reviews (74)

About the reviews
Filter by
4.8
Management Accountant/Accountant, £10m+
26 October, 2018

What do you like?

User-friendly interfaces and best links to other apps/banks. Best rate of innovation and updates.

What would you change?

Slightly more flexibility on sales invoice data field structures
5
Sole Practitioner, Less than £250k
2 October, 2018

What do you like?

It is easy to use, so that my clients can use it easily too.

What would you change?

I would add in multi-currency to standard subs.
4
MD/CEO/General Manager/Director, Less than £250k
3 October, 2018

What do you like?

Cloud means access anywhere and anytime, learning more and more about what it can do and how I can use it is great.

What would you change?

Actually very boring to look at. Needs a big update. Some of it's own features (expenses etc) are nowhere near as good as add on partners, which is a shame.
4.5
Partner, Less than £250k
26 September, 2018

What do you like?

Bank feeds just work and make it easy to use.

What would you change?

The expenses part (old and new) both have their downsides.
4.5
Practice Manager, £1m-£4.9m
2 July, 2018

What do you like?

It is very intuitive and easy to use.

What would you change?

It is hard to get quick answers from the support team - you often have to wait 24 hours for an email response.

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