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Accounting & Audit

2016 Review of Xero and Xero Partner Program

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Xero is a relatively new comer to the U.S. market, but is a market leader in New Zealand, Australia and the UK cloud accounting markets. Xero accounting is 100% web based software that is targeted towards small and mid-size businesses and competes directly with QuickBooks Online. Xero is marketed directly to businesses, however, Xero has been working very hard to embrace accounting professionals with umerous resources and specialized programs.

From the 2016 Reviews of Virtual CFO Accounting Systems.

Best Fit:

Xero is well suited for all types of small businesses. The core system provides all of the basic bookkeeping functions that every business needs. The extensive catalog of 3rd party add-on applications facilitates adapting Xero to meet the unique needs of many different types of client businesses.

Strengths:

  • Simple and intuitive interface for any small business owner to grasp
  • Easy to read KPI dashboard that focuses on the basics
  • Direct feeds from banks and credit card services
  • Credit card payments accepted
  • Accountants program that provides extensive training and marketing tools
  • Extensive catalog of third party add on applications

Potential Limitations:

  • Lack of direct integration with tax preparation software
  • Additional payroll subscription fees for organizations with more than 10 employees

Summary and Pricing:

Pricing starts at $9 per month for the Starter edition, $30 per month for the Standard edition and $70 per month for the Premium edition. All three plans include unlimited users. Payroll add-on for 10 additional employees is $70 per month, 20 users is $90 per month and 100 users is $180 per month. Partner program is free and includes Practice Studio practice management software.

 

 

See inside May 2016

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