While both platforms cover essential accounting operations and offer modern features like reporting and BI analysis, each caters for different business needs. Xero also has a centralized BI analytics dashboard where users can check cash flow and financial health, and track metrics. For a fee, users who want to leverage more advanced BI analytics tools can upgrade from Xero Analytics to Analytics Plus.
Xero Review ( : Pricing, Features, Pros and Cons
However, when it comes to using all the tools available to you as a small business owner, your accountant should definitely be part of your toolbox. You can import expenses from our expense tracker by uploading a CSV file as well as having FreshBooks automatically track them by connecting your bank accounts or credit cards. Many FreshBooks customers have service-based businesses that have them constantly on the go. And FreshBooks is a unique accounting software program in that it allows you to bring your software along with you while serving billable clients. When setting up a FreshBooks account, you can start fresh, or transfer over existing data from any previous accounting software solutions like Xero, QuickBooks Online, Zoho Books, or Invoice2Go.
Xero offers 24/7 support for its customers, while FreshBooks only provides phone and email support during office hours. FreshBooks offers four plans, all available for purchase with monthly or yearly billing. Stay in touch with clients through the FreshBooks mobile app and get notified when invoices have been viewed or become overdue. We believe everyone should be able to make financial decisions with confidence.
Features comparison: FreshBooks vs. Xero
With 24/7 in-app support featuring a rapid 1.25-minute response time and dedicated Customer Success Managers, Deel is with you every step of the way. For example, Xero allows you to view accounting reports and specific budgets for any time period. You can even monitor your company’s performance by customizing and measuring specific KPIs. There’s a reason FreshBooks made it on Zapier’s list of the best self-employed accounting software, while Xero made it on the list of the best accounting software for bigger businesses.
Once customers receive the invoice, they can pay you directly from it by clicking the “pay now” button and using a credit card, debit card or direct debit. You can also accept payments from popular services such as Stripe and GoCardless. It allows three users for non-operating expense its Essentials plan ($55 per month) and 25 users for its top plan, the Advanced ($200 per month). This can be helpful if your company is growing fast, or you simply want the reassurance that there’s no limit to how many people can be part of the team. Keep in mind that the ability to use multiple currencies in the software and invoice is limited to the company’s highest tier, at $70 per month. If using multiple currencies is a priority to you, consider other platforms that offer this capability at a lower cost.
At 91%, FreshBooks has the best rating for customer support among all competitors. Our simple yet robust interface has a very short learning curve, so you and your team can hit the ground running. Plus, with automations that reduce your workload, you’ll be saving time in no time.
Unlimited users
Keep in mind that these services charge a fee to process present value of future cash flows payments (usually around 2.9% plus 25 cents per transaction, though this varies by the payment processor). Xero includes extensive features that make it suitable to handle complex accounting processes for small- and medium-sized businesses as well as larger ones. The software makes it easy to pay bills, claim expenses, accept payments, track projects, manage contracts, store files and more.
Xero also offers Analytics Plus, available on the Established plan, to analyze your cash flow. This feature uses AI to predict future recurring transactions is accounts payable an expense up to 90 days in advance based on patterns from the last three months. In addition to its more robust reports, Xero proves itself to be the better fit for established and growing organizations with its bank reconciliation feature. Xero’s app includes the basics, like sending invoices and assigning expenses, but its capabilities are a bit limited.
Best Accounting and Bookkeeping Apps for Small Businesses
- And if you need a hand our phone support with a live rep extends to both you and your accountant with no additional fees.
- Zoho Books stands out for its 24/5 customer support, strong feature set and affordability.
- It’s the kind of support you always wished you had, and guess what?
- That means that any of your data entered into FreshBooks is totally safe, and when you enter new customers into your account their information is just as safe.
Xero also allows companies to be paid via invoice and it can also help businesses receive payments in time by automatically debiting customers’ bank accounts whenever invoices are due. Like FreshBooks, it offers debit and credit card payments, bank-to-bank payments and Apple Pay or Google Pay via Stripe. While FreshBooks’ security is based solely on the Payment Card Industry Security Standards, Xero adds an additional layer of security to its online invoices and payments system. Xero is a cloud-based accounting software platform available to small and medium-sized businesses in over 180 countries.