New changes to Xeros plans in Australia from July

xero plans

Find out more about the plans and what’s included for small businesses and accountants and bookkeepers. We’ve put a lot of consideration into creating streamlined plans with bundled tools and features, to help solve your most important accounting and people management tasks. We want to make sure the needs of small businesses and their advisors are met well into the future — and that means providing you with easier access to tools that help you run your business efficiently. That’s why we’re refreshing our subscription plans for small businesses and partners, which will be available from 1 July 2024. Xero offers a built-in integration with Hubdoc, a tool that extracts the data from bank statements and financial documents and uploads it into the system based on rules that you specify. Xero also has a mobile app, Xero Expenses, that allows you to snap pictures of receipts and create an expense instead of having to manually enter all the information.

Automated features to save you time

Once you sign up, Xero provides several guided tutorials to acquaint you with its tools, such as connecting your business bank account, adding customers and creating invoices. Many pages within the app have how-to videos and links to a step-by-step guide, which is great for business owners who aren’t very tech-savvy. One cool feature is that Xero lets you schedule recurring invoices (or “repeating invoices”) by setting the send date, frequency and end date. Automatic payment reminders encourage customers to pay on time, saving you from following up and dealing with unpaid invoices. You can set the software to send reminders before the payment is due or when it’s past due; you can also set up the system to email your customers’ receipts after receiving and recording payments.

Unlimited users

With the addition of Ultimate, we now have more plans to suit the needs of small businesses at each stage of their journey, offering more choice, flexibility and value in their plan. In addition to reaching out for live help, you can access valuable online support resources, including videos, a blog, podcasts, small business guides and training courses. Xero recently streamlined the ability to search for help while using the software, so you don’t have to leave the site.

Online Invoicing

xero plans

For example, you can see if the invoice was copied from a quote, who created and approved it, and when they created and approved it. This screen also shows automatic payment reminder information, such as the relevant email address and the date and time. Additionally, you can add notes, such as the expected payment date. As a business, we need to generate revenue to sustain our content. We have financial relationships with some companies we cover, earning commissions when readers purchase from our partners or share information about their needs.

xero plans

How GenAI-powered Just Ask Xero will reimagine accounting

Xero makes business accounting, including end of financial year reporting, straightforward. The Australian financial year, otherwise known as the fiscal year starts on 1 July, with the last day occuring the following year, on June 30. This gives businesses an allotted time for tax, budgeting and financial reporting. Easily sync your bank with your financials in Xero online accounting.

xero plans

Introducing Xero’s simplified small business plans

Remember, you can always choose to move to a new plan before this takes place. In the meantime, we recommend familiarising yourself with the new plans and the features available, so you can choose the best option for your business. FreshBooks is one such option that has gained popularity in recent years.

Plus, unlike many of its competitors, Xero includes inventory management with every plan—with QuickBooks, you don’t get inventory tracking unless you’re paying $80 a month for the Plus plan. NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business. The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. In the Early plan, the least expensive subscription, you can send up to 20 invoices and schedule up to five bill payments only.

In general, we were pleased with Xero’s customer support options. However, they were not as comprehensive as what we found in our review of QuickBooks Online. Phone support is not available immediately; you must contact customer service first via email or live chat. However, the upside is that Xero does not leave users hanging with long wait times. Instead, the company will call you back at a time convenient for you. We really liked Xero’s unique History & Notes feature, which presents an activity report at the bottom of every transaction screen.

  1. For starters, unlike most of its competitors (most notably QuickBooks Online), all of Xero’s plans allow for unlimited users.
  2. Forbes Advisor compared Xero vs. QuickBooks when it comes to the key features, pricing, customer service and reviews to help you decide which is right for your business.
  3. In contrast, Xero’s entry-level plan is slightly less expensive, at $15 per month.
  4. Anything you enter will be retained when you transfer from a free trial to a subscription.
  5. All three of these offer the ability to scale their accounting for larger businesses and both Xero and QuickBooks offer specific training for accountants.
  6. Of course, if you really don’t need to send more than 20 quotes or collect over five bills, the Early plan’s price is a steal.

Plans are affordable, starting at $13 per month, but no free plan. Get the most out of Xero with access to our team of onboarding specialists during your first 90 days.

xero plans

With Xero Expenses, which is included free with the Established plan, your scanned receipts sync with the accounting software in real time. You can assign expenses to projects, create more complex reports, and get a more accurate look at how your business is doing financially. Has robust reporting tools and report customization options, basic inventory tracking in all plans and a capable mobile app; Early plan limits the number of invoices and bills.

The Early subscription is tailored for solopreneurs and business owners who are just getting started. You’re able to send 20 quotes and invoices per month, enter five bills, reconcile bank transactions, capture bills and receipts with Hubdoc and view a short-term cash flow and business snapshot. 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. Track mileage, send invoices and get a snapshot of your business cash flow with both Xero and QuickBooks.

The new line-up of plans is designed to make it simpler for you to recommend the best plan, and tailor your practice services to clients. That means easier access to features (including cash-coding in all of our new business plans), and key add-ons bundled into business plans. The new plan line-up has more key features included — with fewer plans and add-ons to navigate. That means easier access to the tools and features you’re looking for, so you can spend time on the things that count (like running your business). QuickBooks is a popular accounting software used by small businesses, solopreneurs and freelancers. The software helps users to keep track of their finances, customers and vendors.

For unlimited invoicing and bill-paying capacity, you’ll need to upgrade to the Growing plan. For example, you can give all employees the ability to send quotes and invoices, allow some to enter expenses and limit who can see the company’s complete financial picture. To keep things organized, unit sales definition Xero logs every action users make and compiles the history of every transaction. New users can access a free 30-day trial, which doesn’t require a credit card for sign-up. We liked that the trial version of Xero is full-featured, meaning you can test it out with real data.