Accounting software can be a lifesaver as your business’ finances become more complex. While most business owners have heard of QuickBooks, one of the leading accounting software programs, they might overlook Xero. Xero is another leading software that has many of the same capabilities, and it may even be the better choice for your business’ particular circumstances.
Xero is a newer accounting software, but it is a tried-and-true solution. Here’s why Xero is a valuable tool for your business:
- It is cloud-based. Because Xero is an online software solution, you can access it easily wherever you are, whether you’re at home, at work, or somewhere else. It also eliminates physical paperwork and keeps your financial information more secure than other types of accounting storage can.
- It can convert currency. Xero has a built-in currency converter, so there’s no need to convert foreign transactions into U.S. dollars yourself.
- It is user-friendly. Xero has an intuitive interface that is easy to use even if you’re brand new to it. Still, as simple as Xero is to learn, it doesn’t hurt for you or your in-house bookkeeper to receive professional training in the program.
- It supports unlimited users. While other accounting programs place a limit on the number of users you can have, Xero allows you to have an unlimited number of users on your account.
- It costs less than other software. Generally, Xero costs less than other accounting programs like QuickBooks. Xero offers three plans: Early, Growing, and Established, which only cost $12, $34, and $65 a month, respectively.