You’ll just submit a support ticket, where you can attach any files that may make things easier to troubleshoot. If necessary, you can also give a Xero support person access to your account so they can take a closer look. Xero doesn’t have a phone number customers can call, but it can provide a callback if necessary. Xero’s Early plan, recommended for self-employed people or brand-new businesses, allows 20 invoices per year. If you only send out an invoice or two each month, the Early plan is an affordable option at $15 per month. Otherwise, you’ll have to bump up your subscription or consider QuickBooks Online plans.
Customer support
Xero has a paid subscription model, while Wave is free to use. Wave is built for beginners, while Xero requires some previous experience with accounting software. Both tools are fantastic alternatives to cloud-based accounting software like QuickBooks Online, Zoho Books, and Freshbooks. To track expenses outside of reconciled bank transactions within Xero, you’ll need to choose the $60/month plan with access to the Expenses feature. If you’re outside the US, Xero’s Expenses feature (and Projects) is available as a paid add-on instead.
Project Accounting: Xero Wins
Additional functionality includes recurring invoices, automated invoice reminders, bulk invoicing, and invoice replication. Xero is the better option for users who prefer working in desktop accounting software rather than in online apps, as it’s the only one of the two that has desktop https://www.kelleysbookkeeping.com/finance-and-accounting-outsourcing/ apps. If you’re a very small business or freelancer in North America, Wave might be the ideal accounting software to organize your business and simplify tax time. However, if you have higher revenue, more complex requirements or plan to scale, Xero is likely to be a better choice.
Alternative Accounting Software Options
With Xero, businesses can eliminate the need for paper records and reduce accounting fees. The software is also updated automatically, so businesses always have the latest features and security patches. Overall, Xero is an efficient and cost-effective way for small businesses to manage finances. Xero is a better option for businesses that need to track project profitability. This is because Xero allows you to see how much each project is costing you in real time and compare that to your estimated profits. Xero is also a better option for businesses that are expanding internationally as it offers multicurrency support.
Xero is ideal for businesses that keep a team of bookkeepers or accountants in-house. The three products of Wave – accounting, invoicing and receipts – complement each other in a great way. You can use the accounting tool to free estimate template handle income and expenses, generate financial statements, and connect with your bank cards and accounts. It also provides you with in-depth reports on cash flow and profit and loss, as well as of overdue bills and invoices.
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You can record business assets such as vehicles, machinery, hardware and office equipment. Then you can easily make updates and handle depreciation and disposals. This round is a https://www.simple-accounting.org/ tie as both apps are available on all modern browsers. Xero has an extensive knowledge base that contains plenty of learning resources that can teach you how the software works.
- From generating, sending, and tracking invoices to managing your payroll and preparing you for tax season, modern accounting software is your financial Swiss Army knife.
- 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.
- In Wave, when you create a sales tax, it will automatically generate a sales tax liability account on your chart of accounts, named after the sales tax.
- Xero has a more extensive knowledge base than Wave, including online courses.
However, the software has a steeper learning curve than other accounting software. It may take some time to get familiar with all its features, but once you get the hang of it, it becomes much easier to use. The bad news is there’s no phone support or live chat but only email support. You can always hire a Xero professional advisor to teach you how you can best use the software for your accounting needs. Wave also has paid add-ons, including Wave Payroll, which starts at $20/month for self-service states and $40/month for tax-service states.
Xero is a fair contestant, boasting more features in a tight solution. Some of the links that appear on the website are from software companies from which CRM.org receives compensation. This site does not include all companies or all available Vendors.
While the two both offer similar features, such as tax management, financial reports, integrated payroll, inventory and file storage, the two are not without their differences. 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. Wave offers a free plan (Starter) for a single user and a paid option (Pro) for unlimited users. Xero is a powerhouse accounting software, with the ability to create and send purchase orders, quotes, invoices and more with a few clicks. You’ll also get inventory management, accounting reports and cloud file storage, all on the base plan.
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