X

Xero

Finance & Accounting

Cloud accounting software for small businesses

Founded 2006Wellington, New Zealand5,000+ employeessubscriptionFrom Starter $29/month; Standard $46/month; Premium $62/month; 30-day free trialFree TrialVerified · Sep 2026
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About Xero

Xero is a cloud-based accounting platform used by over 4 million subscribers worldwide, offering invoicing, bank reconciliation, payroll, expense management, and real-time financial reporting.

Editorial Assessment

Xero is a cloud-based accounting software platform designed for small and medium businesses, offering invoicing, bank reconciliation, payroll, expense tracking, inventory, and financial reporting through a browser-based interface accessible anywhere. Founded in 2006 by Rod Drury and Hamish Edwards in Wellington, New Zealand, Xero pioneered cloud accounting in the SMB segment alongside QuickBooks Online, establishing particular strength in New Zealand, Australia, and the United Kingdom. The platform's open API has built an extensive ecosystem of over 1,000 app integrations across inventory management, CRM, payroll, and industry-specific tools — one of the broadest in the accounting software space. Xero's pricing uses a tiered volume model based on transaction caps: Starter ($29/month, 20 invoices and 5 bills), Standard ($46/month, unlimited invoices and bills), and Premium ($62/month, multi-currency accounting). All plans include unlimited users — a key differentiator from QuickBooks Online, which charges per user. Payroll is available as an add-on or included in Premium for some regions. Xero is particularly strong for businesses with international operations given its multi-currency support and global presence. The main limitation compared to QuickBooks Online is that Xero has historically had a weaker position in the US market and lower brand recognition among US-based accountants and bookkeepers.

Strengths
  • Unlimited users on all plans — no per-seat pricing for accountants and team members
  • 1,000+ app integrations through the Xero App Marketplace
  • Multi-currency accounting on Premium plan for international businesses
  • Xero HQ for accountants managing multiple client accounts from one dashboard
  • Real-time bank feed reconciliation with 99% acceptance rate
  • Projects for time tracking and job costing
  • Strong mobile apps for invoicing and expense management on the go
Limitations
  • Weaker brand recognition than QuickBooks among US-based accountants and bookkeepers
  • Starter plan limited to 20 invoices and 5 bills per month — not practical for active businesses
  • Payroll is a paid add-on in many regions (except where bundled)
  • Inventory management capabilities limited compared to dedicated inventory tools
  • Customer support is primarily help center and community-based, not phone-based

Best For

Small and medium businesses in New Zealand, Australia, and the UK where Xero is the standard Businesses with international operations needing multi-currency accounting Companies working with Xero-certified accountants who manage books in Xero HQ Growing businesses that want unlimited users without per-seat accounting fees

Not Ideal For

US-based SMBs where QuickBooks Online's accountant ecosystem is strongerVery early-stage startups that need fewer than 20 invoices per month on StarterLarge enterprises needing advanced ERP functionality (NetSuite or Sage 300 better)

Key Features

Unlimited users on all plansBank feed reconciliationInvoicing and bill managementMulti-currency (Premium)1,000+ app integrationsXero HQ for accountant managementProjects for time and job cost trackingFinancial reporting

Who It's For

Small and medium businesses globally (strong in ANZ and UK)Accountants and bookkeepers managing client accountsInternational businesses needing multi-currency accountingGrowing companies that need unlimited team access to accounting software

Integrations

GustoStripeHubSpotShopifyZapierAirwallex

Platforms

web ios android

Founders

  • Rod Drury
  • Hamish Edwards

Products & Tools

Xero AccountingCloud Accounting
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Cloud accounting software for SMBs with unlimited users, bank reconciliation, invoicing, and 1,000+ app integrations.

subscription · Free trialFrom Starter $29/month; Standard $46/month; Premium $62/month
Unlimited usersBank reconciliationMulti-currencyApp marketplaceProjects

Sources & Verification

Last reviewed September 2026

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Tags

AccountingInvoicingPayrollBank Reconciliation

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Official Website

xero.com

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