Xero
Entrepreneurs, freelancers, and business owners frequently spend a significant amount of time on administration and accounting. With plans starting at $12 per month, Xero is an economical cloud-based accounting software system designed for small and medium-sized enterprises that automates these processes.
Many features of Xero allow it to manage difficult accounting procedures for both small and medium-sized organizations and larger ones. Paying bills, claiming costs, accepting payments, tracking projects, managing contracts, storing files, and other tasks are all made simple by the software.
With the help of Xero's invoicing features, you can create and modify an invoice for a client and then collect payments inside the invoice via bank transfer, credit card, or debit card. Account users have the option to put their logo on online invoices, collect payments instantaneously through the invoice, automate client payment reminders, and invoice directly from the Xero app. Via a payment gateway, such as Stripe, GoCardless, and others, Xero processes payments. Remember that these services charge a fee for handling payments (often 2.9% plus 25 cents per transaction, though this varies by the payment processor).
Rating: 4.4 (on Forbes Advisor)
Price: $13 per month
Free trial: 30 days
Pros:
- Offers a variety of plans so you can upgrade as your business grows
- Intuitive and user-friendly
- Send up to 20 quotes and invoices per month on its lowest-priced plan
- All plans allow for reconciling bank transactions
- 24/7 support
Cons:
- Must have its highest-tiered plan to deal in multiple currencies
- Payroll costs an extra $40 per month
