Home > Accounting Software > Xero > Xero vs AccountEdge

Xero vs AccountEdge

Last Updated: November 18th, 2024

Our analysts compared Xero vs AccountEdge based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

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Product Basics

Xero is a cloud-based accounting software designed for small businesses. It streamlines bookkeeping tasks like invoicing, expense tracking, bank reconciliation, and payroll, all accessible from any device. Xero boasts user-friendly interfaces and automated features, saving time and simplifying financial management. Popular features include online invoicing with reminders, bank feeds for automatic transaction import, and customizable reports for insights into cash flow and profitability. While Xero caters well to various industries, its strengths lie in freelancer/contractor work, startups, and service-based businesses. Pricing scales with business size and complexity, starting at a monthly subscription for basic accounting needs and increasing with additional features and users. Compared to some competitors, Xero offers a robust mobile app, strong integrations with third-party tools, and a focus on user experience. However, it may lack advanced inventory management or complex accounting functions suited for larger enterprises. Ultimately, Xero's value proposition lies in its ease of use, automation, and scalability, making it a popular choice for small businesses seeking a streamlined and efficient accounting solution.

Pros:

Cloud-based access anywhere
Easy invoicing and expense tracking
Automated bank reconciliation
User-friendly interface
Mobile app for on-the-go use

Cons:

Learning curve for new users
Limited inventory management
No built-in payroll (separate fee)
Higher cost for advanced features
Limited phone support

AccountEdge helps small businesses establish inventory, billing, managing contacts, creating and tracking sales and purchases. It’s compatible with both Mac and Windows operating systems. An on-premise and accounting management solution, it gives users the freedom to create an eCommerce platform where they can sell items online using Shopify, download orders directly to the account and synchronize the inventory items for selling. The banking tool gives users the freedom to receive and send money, create bank deposits, print checks and account reconciliation. The purchase order feature enables users to create and track purchase orders and bills. It handles every aspect of business and gives the owners the ability to organize, process and report financial information.

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24/7 Live Support

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Product Insights

Affordable Payroll: Take advantage of the free trial to see how much time automated data entry can save and assess if the solution is a good fit for the business. Save countless hours on tracking expenses, calculating payments, processing payroll and more.
Better Interoperability: Centralize company processes and handle a wide range of functionality with more than 700 add-ons available through the app marketplace. This includes programs for CRM, e-commerce, inventory, invoicing, job tracking, payroll, time and attendance and more.
Centralizes Data and Processes: Organize information and put the primary software that handles day-to-day issues all in one place. Manage files to a document library where users can see originals next to updated versions. Send files to stakeholders to ensure a clear flow of information.
Saves Time: Eliminate tedious data entry and ensure better data integrity by cutting down on human error. Provide a clear documentation trail to ensure that the business is running ethically and save time hunting for documents when it’s time to verify the information.

Quotes and invoices: Create personalized quotes and invoices. Convert quotes to invoices with a click.
Cost-effective: Pay only a one-time fee charged for each plan. This means extra payments are to be made only when the users purchase available add ons.
Compatibility: Use Pro on Windows or Mac or get a mobile app for iOS devices. Access data without leaving the comfort of the desktop application with Connect. Get all the desktop features with Pro Hosted.
Easy Installation: Get it up, running and access a vast amount of information within minutes. Learn more about using the platform by logging in to the user forum on the community page. Enjoy the simple to use interface and flexible reporting system.
Simple Reporting: Look up information in numerous ways. Drill down into accounts and transactions with the interactive balance sheet and profit and loss reports. Slice and dice data for analysis. Easily control services from quote complete to invoice delivery.
Time Billing and Retainers: Review how much money a client has to deposit and what is to be billed at the end of the month. Easily log in on-site with the quick interaction on the mobile app.
Reconciling Statements: Find the amount by viewing them by debits or credits. Change marked items to blue which makes scanning the remaining numbers easy.
Easy Job Budgeting And Analysis: Ensure easier functionality with new buttons added under budget analysis. Edit amounts for the job, calculate and display adjusted budgets and compare the actuals, in one window.
Reminders: Add promise date as a reminder for the completion of job schedule.

Payroll Processing: Provide payroll across 50 states. See when payments are due, track them and ensure on time payment. Analyze accounts payable with a quick view, schedule advanced payments and make batch payments.
Banking: Connect to the right bank to track and facilitate transactions daily. Keep an eye on the flow of money through a secure connection that goes directly into the solution.
Expense Management: Seamlessly track and manage expense claims. Access real-time data and reports that provide insight into patterns and trends. Record costs, see and approve claims, view overall spending and dole out reimbursements. Capture receipts to monitor employee spending and verify costs.
Project Management: Integrate with other workflows to facilitate financial project management. Provide a quote for client work before you begin to track time, costs, profitability and other variables for an accurate invoice.
Customer History: Use smart lists and contacts to contact details, emails, past sales, emails, invoices, past payments and more when working with a partner or client.
Mobile App: Let users track bank transactions, send invoices, access supplier details and more, from any mobile device.
Inventory Management: Undertake basic inventory management, including taking inventory, seeing what was bought or sold, look at reports on how well items are doing and get invoices and orders.
Gusto Integration: Calculate and pay taxes, deductions and employees through an integration with the accounting software Gusto. Simplify compliance and keep on top of industry updates.
Other Capabilities: Processes payment in multiple currencies, calculates sales taxes, tracks purchase orders, manages files and does several other administrative tasks.

Accounts: Maintain charts of accounts. Choose from over 100 templates in Pro or create templates. Create a budget for any active account or for each job and project by tracking individual jobs.
Banking: Set up and manage all bank related activities, which includes importing bank statements for reconciliations. Connect credit card and bank accounts to the application with automatic bank feed options.
Contacts: Manage all customers, vendors and employees from a central location. Attach documents or contracts to vendor files, add a photo or create custom letters for the customers.
Sales: Create a quote, process a sales order, create an invoice for a customer and accept customer payments for all open orders. Make shipping the product easy by integrating the invoice with UPS and providing customers with the tracking details. Place comments and choose how to deliver invoices. Create sales orders for customers that pay in advance. Accept credit card payments and record incoming payments by creating an account with Merchant Account. Manage online sales and inventory by syncing online stores using Shopify connector. Attach a document to invoices and purchases to enable tracking of warranties and package slips.
Time billing: Track time and bill customers with Pro. Track billable and non-billable hours spent on the project or track employee time for billing purposes. Remotely track time using Connect. Monitor all work in progress to bill the customers as the project continues.
Purchases: Create a purchase order, convert a bill to an order, enter vendor accounts payable and pay them electronically or by check. Complete vendor payment electronically and process 1099 forms at year end for contractors, using information tracked in purchases.
Payroll: Set up payroll using the payroll assistant. Do the calculations inhouse or outsource through SurePayroll. Get a variety of add-on options like direct deposit, payroll forms and e-file services when processing payroll in-house.
Inventory: Add details about specific items as well as selling and buying options with the Pro inventory module. Assign multiple pricing levels to the products, get an alert when the stock drops below a specified point. Keep track of best-selling products, and even build items and kits.
Purge Jobs: Remove unused, older jobs from a larger list. Delete the selected job and remove it from the transaction list.
Custom List and Custom Fields: Track the jobs by adding custom list and custom fields upto the count of three. Define list names, list members and field names, and use a custom list as a filter for job reports.
Customized Job Status: Check which job is pending, delivered or on hold by customizing the job status.
Activity Slips: Track time tied to a job under the job list Window. Drill into the activity slip or print out a report.
Transactions: Get easy access to a list of all the transactions under the job information window. Get information like quotes in summary or detail.
Job Number: Automatically assign job number to each line of transaction when creating a sale to a customer that has a single job associated with it. Remove or overwrite it as and when needed.
Job Address: Manually enter or automatically include address and contact information for a job from a linked customer address and phone number, especially in cases where the job is associated with site or location.
Job Transaction Summary Report: Get a list of transactions, including quotes and orders that are associated with the specific jobs. Filter it out on the basis of type, sales and purchase order.
Emails: Use merge tags to create email templates. Include additional email addresses and choose an email address from Card. Open and view the email in the email client instead of it being automatically sent.
Search Option: Search by account number or account name and use starts with/contains filters. Search account list by number or name and look by contact on the cards list. Identify unknown or forgotten company names by using search from list on transactions.
Paid Stamp: Avoid confusion when re-sending a copy of a paid invoice to a client with a paid stamp which is a custom field and can appear on printed and PDF sales form.
Deleting Deposits: Edit or delete the deposit payment after an order has been converted into an invoice.
Calendar Event: Create a calendar event in the MacOS Calendar app, while recording the transaction or when the payment is due. Reminders can also be created from the card file.
Add Note: Remember why the inventory was adjusted or created a particular job entry by adding a note to all the transactions. Check stubs and other transactions by adding a note field to the appropriate report.
Forecasting with Recurring Sales: Get a more accurate estimation of financial situation at a point in time. Only get relevant fields displayed when the radio button is used.
Company Data Auditor: Make sure that the financial information is accurate, protected and balanced. Backup and verify the company file with the audit tools. Lock down reconciled financial data, keep an audit trail and run reviews to make sure the numbers are in balance.

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#171

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Analyst Rating Summary

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User Sentiment Summary

86%

of users recommend this product

Xero has a 'great' User Satisfaction Rating of 86% when considering 4652 user reviews from 5 recognized software review sites.

88%

of users recommend this product

AccountEdge has a 'great' User Satisfaction Rating of 88% when considering 176 user reviews from 2 recognized software review sites.

4.4 (17)

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4.3 (339)

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4.33 (2132)

4.36 (88)

4.3 (1877)

4.4 (88)

4.3 (287)

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Awards

Synopsis of User Ratings and Reviews

Affordable: Of all the reviews that mentioned price, over 70% felt it was well within their price range and felt satisfied.

Good Customer Service: Over 70% of reviews that mentioned the customer support said they received excellent service, especially from their reps.

Excellent Functionality: In more than 50% of all reviews that mentioned features, users were happy with its capabilities. They especially like the integrations, reconciliation process, invoices and accounting functions.

Simple and intuitive interface: Xero's clean layout and straightforward navigation make it easy for users of all skill levels to manage their finances. In over 80% of reviews that mentioned the UI, users said it was easy to navigate.

Automated tasks: Xero automates repetitive tasks like invoicing, expense tracking, and bank reconciliation, saving users valuable time and reducing errors.

Mobile app for on-the-go access: Manage your finances and stay up-to-date on your business performance anytime, anywhere with Xero's mobile app.

Customizable reports and dashboards: Gain valuable insights into your cash flow, profitability, and other key financial metrics with Xero's customizable reports and dashboards.

Multi-user access and permissions: Collaborate with team members and advisors seamlessly with Xero's secure multi-user access and permission controls.

Strong Support: Users consistently praise AccountEdge's helpful and responsive customer support team.

Desktop Functionality: Many users appreciate that AccountEdge is a desktop-based application, which they find more reliable and secure than cloud-based alternatives.

Industry-Specific Features: AccountEdge offers specialized features for various industries, such as construction and manufacturing, making it a good fit for businesses with specific accounting needs.

Limited inventory management: Xero lacks advanced inventory tracking features, making it less suitable for businesses with complex inventory needs.

Learning curve for complex features: While basic tasks are easy, some advanced features like multi-currency accounting can be challenging for non-accountants to navigate. Though the system was widely popular after implementation, users said it was old-fashioned and had a steep learning curve in 20% of reviews that mentioned the UI.

Higher cost for advanced features: Access to advanced features like payroll processing and multi-currency comes at a higher price point, potentially exceeding budgets for smaller businesses.

Limited phone support: Xero primarily relies on email and live chat for support, which may not be ideal for users seeking immediate assistance with critical issues.

Integration limitations: While offering many integrations, some key business tools may not have seamless integration with Xero, requiring workarounds or data duplication.

Invoices: While around 60% of users felt that the invoicing system worked well, around 40% said they had trouble making changes to them once they were saved.

Downgrading Issues: Around 20% of reviews that mentioned price said they had issues while trying to go to a lower pricing tier and often ended up paying a month or more at a higher rate.

Usability Challenges: Some users find AccountEdge less intuitive than other accounting software options, requiring a steeper learning curve to navigate its features effectively.

Limited Features: AccountEdge may not offer the same breadth of features as some competitors, potentially lacking specific functionalities that some businesses require.

Higher Cost: AccountEdge's pricing structure can be more expensive compared to other accounting software solutions, potentially impacting budget-conscious users.

Xero’s users say it’s easy to use and has good accounting and bookkeeping capabilities. Most found the price to be acceptable, with some complaints about issues they ran into while trying to switch to a lower pricing tier. More than 70% loved the customer service and felt their representatives were extremely helpful. It has a range of features including band feeds, invoice creation, integrations and reconciliation processes. The reconciliation was particularly popular with over 80% of reviewers who mentioned it describing positive experiences. One issue with the system came in making updates to invoices after they’d been saved. Some users said they were sent prematurely to clients or claimed to have difficulties changing the data at a later date. Many also felt that the implementation process for the new platform was difficult, but that once they learned where things were they felt comfortable. This may be a good choice for small and medium businesses. Larger companies should consider a system that’s able to handle a higher volume.

Want to know if AccountEdge will give you an edge in accounting? AccountEdge is a popular accounting software for small businesses, especially those familiar with desktop-based applications. Users praise its comprehensive features, including general ledger, accounts payable/receivable, invoicing, and inventory management, all without requiring a subscription like QuickBooks Online. Many find it easier to use than QuickBooks, citing its intuitive interface and logical workflow. However, some users point out its limitations for businesses with complex needs, such as limited integrations with other software and a lack of advanced reporting features. AccountEdge shines for small businesses seeking a robust, desktop-based accounting solution with a one-time purchase cost. Its ease of use and comprehensive features make it ideal for managing day-to-day finances, especially for those who prefer a traditional accounting software experience. However, businesses requiring advanced features or extensive integrations might find AccountEdge limiting and should consider cloud-based alternatives.

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FAQ

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