Xero Accounting Software

Xero Accounting Software Rating:
4.7/5

Features

Customer Experience & Support - 8.75/10

8.8/10
Pricing & Value - 9/10

9/10
Security - 9.25/10

9.3/10
Innovation & Future-Proofing - 9/10

9/10

Comments Rating 5 (1 review)

Details

Rating Breakdown

Our Rating: 4.5/5

Our rating is based on our subjective judgment. Use our resources—including our rating and community ratings and reviews—to find the best fit for your firm.

Community Rating: 5/5 (based on 1 rating)

The community rating is based on the average of the community reviews below.

Composite Rating: 4.7/5

The composite rating is a weighted average of our rating and the community ratings below.

Xero is cloud-based small business accounting software that is also popular with solo and small law firms.

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Who Xero Is For

Xero is a good fit for most firms, especially those that want to take advantage of its many integration. Xero is also relatively inexpensive, especially because its pricing is not based on the number of users.

(For what it’s worth, we switched Lawyerist’s books over to Xero at the beginning of 2014 and we are still using it in 2020.)

Xero Features

Website	www.xero.com
Apps	Android iOS iPadOS Web
Starting Price	$9/month
Free Trial	✓
Bookkeeping Double-entry bookkeeping.	✓
Connect Bank Accounts Link your bank accounts for up-to-date transaction information with little or no manual data entry.	✓
Billing/Invoicing	✓
Online Payments This means the ability to accept credit card or echeck payments within your accounting software, either through its own payment portal or via a third-party integration like PayPal or Square. Most online payments involve a separate processing fee.	✓
Timekeeping	✓
Mileage Tracking Keep track of miles traveled visiting clients or heading to the courthouse, making it easier to tally for taxes or billing purposes or add to your expense reports.	✓
Bill Payment Pay your firm's bills without leaving your accounting software.	✓
Statement Reconciliation Helps with the complex task of balancing your business accounts. Does not necessarily include more advanced reconciliation features like three-way trust account reconciliation.	✓
Payroll Payroll includes automatically calculating employee taxes, printing checks, and paying by direct deposit.	✓
Tax Preparation Some accounting software can also be used to prepare taxes for your firm so you can review, approve, and even pay your taxes all in one place.	✓
Reporting Businesses need reports to help assess key business performance indicators like profit and accounts receivable. Some products have more robust reporting features than others.	✓
Foreign Currencies	✓
Check Printing	✓
Contact Management Store contacts for invoicing or billing purposes.	✓
User Management Manage multiple users, including your accountant and tax preparer, or multiple billers or timekeepers at the firm.	✓

Additional Details About Xero

Migration. Xero allows you to import data from other programs in both TXT and CSV format. It also allows you to import from a QuickBooks file format with Xero’s conversion tool, which converts US QuickBooks accounts from QuickBooks 2007 or later. It can automatically convert the current and previous fiscal year, and you can convert earlier years by purchasing one of Xero’s add-ons. Unfortunately, Xero cannot convert payroll information, closed purchase orders and quotes, or bill reference numbers.

Security. Xero has industry-standard data encryption, and backs up your account daily across multiple servers. It also encrypts your data when stored on its servers and when transferring your data between its own data centers while backing up or replicating your data. Zero also offers two-factor authentication. Physical access to the data centers is monitored 24/7 and Xero performs regular security audits.

Page edited by the Lawyerist editorial team. Last updated October 14th, 2020.

Xero Accounting Software