Xero is cloud accounting software designed for small businesses. Launched in 2006, Xero pioneered or popularised many concepts that have become standard features in all cloud accounting software.
Xero first gained recognition and a loyal following because of its appealing interface and design, which makes it easy for non-accountants to use.
Xero has also invested heavily in building a strong network of bank connections. It can automatically pull bank statements as a daily feed and apply rules to automate a large part of the reconciliation process.
Xero’s expense claims module is another example of its focus on automating data capture. Users can take a photo of receipts and Xero will extract information required for expense claims.
While Xero is designed with small businesses in mind, it can handle a high number of daily transactions and is used by a number of larger businesses. However, this can cause timeouts with reports at the upper end. Xero also limits the number of staff in its payroll module to 200 employees.
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