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Xero accounting software has released brand new pricing commencing 2/6/2016. Due to these change, Sorted has worked out just what you get in each package, and have provided a price chart below, which is colour coded it to make it a bit easier to understand. See below the table for a full explanation of the services.
# Invoices Per Month
This is the number of invoices you can raise to send to your clients. Cash Books do no have the functionality at all, and the Starter only gives you limited availability, but that's perfect for very small businesses.
# Bills Per Month
This is the number of bills you can enter into your system. Bills are only used when you have an 'account' with a supplier. Cash Books do no have the functionality at all, and the Starter only gives you limited availability, again, perfect for very small businesses.
GST Reporting
You don't need to be registered for GST if you earn under $75,000 per year. This is especially good for sole traders in the early years of their business. Xero provides GST reporting in all but their cheapest package.
Client Access
Most plans have unlimited client access, to allow the owner of the business or their staff to have the correct level of access for the work that they do. Where access is limited, your Accountant or Bookkeeper may need to limit some access.
Bank Feeds
Certainly one of the things we love about Xero the most. Their bank feeds. A bank feed is where Xero 'pulls' information from your bank and you end up with statement lines coming into Xero on a daily basis. This removes the need for re-keying information at the end of the month, and allows you to reconcile to your bank account at any time with ease.
# Bank Rec lines a month
With bank feeds, you 'reconcile' each transaction as it comes in. With all of the plans, you have unlimited capability to do this as you need, except with the Starter plan, which only allows 20 transactions. In our experience, this is not enough to manage even a small business and we rarely recommend it.
Unlimited Users
The beauty of Xero in the cloud. They do not charge you extra for additional users. You can invite your staff, your accountant, your bookkeeper and yourself! Real-time information at everyone's fingertips.
File Storage
All Xero plans give you full file storage capability, allowing you to save all your PDFs in the cloud. Link your receipts and bills directly to the bank transaction. You can always have your paperwork at hand, and it will no longer take up a filing cabinet!
# of Employees
Now we come to the major change in Xero's pricing for 2016, and that is how many employees can be managed under each subscription. Xero have provided for 1 employee to be managed through the payroll functionality for the Starter and Standard plans, and then they have introduced their Premium plans with a minimum of 5, 10, 20, 50 and 100 employees per each plan.
Automated Superannuation
Automated Superannuation is a fantastic tool which reduces a great deal of time in managing your superannuation payments for your employees. It is so good in fact, that we believe it is far cheaper to pay the extra $10 per month for the facility than it is to pay us the additional it would cost you to manage your superannuation without it. We always recommend the Premium 5 Plan for anyone with employees.
This is the number of invoices you can raise to send to your clients. Cash Books do no have the functionality at all, and the Starter only gives you limited availability, but that's perfect for very small businesses.
# Bills Per Month
This is the number of bills you can enter into your system. Bills are only used when you have an 'account' with a supplier. Cash Books do no have the functionality at all, and the Starter only gives you limited availability, again, perfect for very small businesses.
GST Reporting
You don't need to be registered for GST if you earn under $75,000 per year. This is especially good for sole traders in the early years of their business. Xero provides GST reporting in all but their cheapest package.
Client Access
Most plans have unlimited client access, to allow the owner of the business or their staff to have the correct level of access for the work that they do. Where access is limited, your Accountant or Bookkeeper may need to limit some access.
Bank Feeds
Certainly one of the things we love about Xero the most. Their bank feeds. A bank feed is where Xero 'pulls' information from your bank and you end up with statement lines coming into Xero on a daily basis. This removes the need for re-keying information at the end of the month, and allows you to reconcile to your bank account at any time with ease.
# Bank Rec lines a month
With bank feeds, you 'reconcile' each transaction as it comes in. With all of the plans, you have unlimited capability to do this as you need, except with the Starter plan, which only allows 20 transactions. In our experience, this is not enough to manage even a small business and we rarely recommend it.
Unlimited Users
The beauty of Xero in the cloud. They do not charge you extra for additional users. You can invite your staff, your accountant, your bookkeeper and yourself! Real-time information at everyone's fingertips.
File Storage
All Xero plans give you full file storage capability, allowing you to save all your PDFs in the cloud. Link your receipts and bills directly to the bank transaction. You can always have your paperwork at hand, and it will no longer take up a filing cabinet!
# of Employees
Now we come to the major change in Xero's pricing for 2016, and that is how many employees can be managed under each subscription. Xero have provided for 1 employee to be managed through the payroll functionality for the Starter and Standard plans, and then they have introduced their Premium plans with a minimum of 5, 10, 20, 50 and 100 employees per each plan.
Automated Superannuation
Automated Superannuation is a fantastic tool which reduces a great deal of time in managing your superannuation payments for your employees. It is so good in fact, that we believe it is far cheaper to pay the extra $10 per month for the facility than it is to pay us the additional it would cost you to manage your superannuation without it. We always recommend the Premium 5 Plan for anyone with employees.