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As a former freelancer and now part of a startup, I'm always excited to discover tools that help simplify the *not fun* stuff like accounting, invoicing, and taxes. Xero* is cloud-based accounting software specifically created for small businesses, startups, freelancers and contractors. They are a competitor of programs like Quickbooks and operate in the cloud, which means you can access your information wherever you are. If you work remotely or travel a lot, you already know how useful cloud-based software is. (Being able to work from your phone is everything!) Xero also offers a free 30-day trial to test them out so if you are in the market for a new accounting solution, this is an awesome risk-free way to try something new.
Cloud-Based Accounting Software for Startups, Small Businesses, and Freelancers
When you leave the corporate world, you are able to pursue your passion but often forget about all of the busywork that comes with being a freelance contractor or startup founder. (Like the math you thought you'd never have to do again after graduating college. Help!!)
These are a few of the mundane tasks Xero eliminates for you:
- Tracking Inventory
- Bank Reconciliation
- Managing Expenses and Reimbursements
Xero Comes in Three Versions So You Are Only Paying for the Features You Need
If you're a freelancer, you may not need Xero's payroll features and that's fine because they offer three different versions so you only pay for what you need. Here is a breakdown of their three versions, what they cost, and what features are included in each:
Xero Starter ($9/month): This is the most basic and inexpensive version. With this plan, you are able to send five invoices and quotes, input five bills, and reconcile up to 20 bank transactions. If you are a freelance contractor or are just starting a business and have no employees, this version could work for you.
Xero Standard ($30/month): With the Standard version, you are not capped on the number of invoices, bills, or transactions that you make. You also receive payroll services for up to five employees.
Xero Premium 10 ($70-180/month): Premium 10 is Xero's most advanced version and the price ranges depending on the number of employees you have. For example, the $70 plan includes payroll for up 10 employees. With this version, you are also able to track gains and losses across multiple currencies.
Note: Xero is currently running a promotion that lets you take 30% off the price of any plan for the first six months. View their pricing plans to see the discounted prices.
Xero Integrates with More Than 500 Business Apps
Xero is still growing, which means they may not offer every feature you need. Their payroll services are currently only available in some states, so Xero is not the best fit for every business. One perk that overshadows some of their shortcomings is their integration with more than 500 business apps including PayPal, Stripe, and Shopify. These extensions provide additional support and also simplify your life if you do use multiple programs and apps to run your business.
Xero also offers 24/7 support so if you are unclear about any of their features or have questions, you can always just ask.
Get a Free Trial or Start Now and Save 30% off Your First 6 Months
The best way to find out if Xero is right for you is to take advantage of their free 30-day trial. During the trial, you'll be able to use all of their features and add unlimited users. This will help you get a feel for which plan you really need. Right now, they are also running a promotion for 30% off all pricing plans for your first six months. This discount brings the Starter version down to just $6.30 per month! Xero is a comparable alternative to Quickbooks and worth checking out with these generous introductory offers.
Are you currently using accounting software as a freelancer or small business? I'd love to hear about your personal experience with different programs and what you think about Xero.
*This post contains affiliate links and we will be compensated if you make a purchase after clicking on our links. Please read our disclosure to learn more.