The platform notifies you when a client first views an invoice and when a payment is received, and automatically updates your account to reflect payment.

Xero’s invoicing system lets you design and send custom invoice templates, which can be made to recur on a weekly, monthly, quarterly, or annual basis. These limitations mean Starter isn’t suitable for businesses that frequently send invoices or make multiple account transactions each month. Instead, you’re limited to 5 invoices, 5 bills, and 20 reconciled bank transactions per month. Unlike all other plans, Starter doesn’t include unlimited invoicing, bill payment and tracking, or bank transaction reconciliation. Thereafter, you’re billed every month on the calendar date of your original signup, unless you cancel. After the trial ends, you must enter your credit card information to continue your subscription. Key Features & PlansĪll Xero plans allow unlimited users and come with a 30-day free trial. In addition to QuickBooks, the platform competes with alternatives like FreshBooks, Kashoo, Zoho Books, Brightbook, and Wave, as well as online scheduling and accounting tools like Simplifythis. Of course, Xero isn’t the only online accounting software option for small and midsize businesses. Like QuickBooks, it also targets accounting and bookkeeping professionals, providing generous incentives that enable independent professionals to grow their own businesses. It shares many of the same features, including bank account integration, invoicing and expense tracking, payroll services, and tax tracking. Xero bills itself as an alternative to QuickBooks. Its easy-to-use bookkeeping tools make it a simple solution for people who can’t afford an in-house accounting team to keep track of corporate finances. Xero is a full-service online accounting and bookkeeping system that caters to freelancers, solo entrepreneurs, and small to midsize business owners.

Xero accounting software review