Many businesses prefer online accounting solutions that could be customized while others prefer software that has every necessary feature for one single price. The two competitors Xero and Kashoo are very different from each other. The former one is a stellar accounting software which has three pricing plans, each of them omitting or including various features; while Kashoo is a super simple accounting solution that knows the basics through one plan. But no matter which software you choose, they have one thing in common: you will get a trustworthy companion who helps you making your accounting work simpler.
|Free Trial||Free Trial||Free Trial|
|Time Sheet Sharing|
|Multiple Tax Rates|
|Windows Mobile App|
|Receipt Processing||iOS only|
|Integrations & Extra Services|
|Paper Invoice Service|
|Credit Card Payments|
|1 Month Plan||$9/mo||$29.95/mo|
|3 Months Plan||n/a||n/a|
|6 Months Plan||n/a||n/a|
|1 Year Plan||n/a||$24.99/mo ($299.95)|
|Free Trial||30 days||14 days|
|Headquarters||New Zealand||Canada/British Columbia|
Xero is a New Zealand-based online accounting solution and has been the No. 1 choice of over 600k sole proprietors and small businesses around the world since 2006. In this software you will find every single feature you need to run a successful business: invoicing, billing, expenses, and even quoting and estimating. Not only multi-currency is supported for all of these features; in the case of invoicing you have a clever additional feature that allows you to see the exact moment when your client opened your invoice. Furthermore, you can allow your clients to pay instantly with the online payment option. Xero also features automated report creation, filing of 1099s, and simple inventory management software that you can use to track the quantity and profitability of your items. The software can be integrated with over 400 third party application, but this number will grow in the future as Xero offers and supports an API.
The company has stellar iOS and Android applications with which you can easily capture and process your receipts and attach them to invoices and projects. Xero also provides superb 24/7 customer support. After the expiration of your 30-day trial, the company offers you three different pricing plans to choose from, the fee of which is reduced by 30% for the first 6 months: Starter for $9 per month with limited invoicing, billing, bank reconciliations; Standard for $30 per month with everything a professional business needs; and Premium for $70 per month which not only includes everything from the Standard package, but multi-currency as well.
Kashoo is a Canadian-based online accounting solution which was founded in 2008. The company mostly focuses on sole proprietors and smaller businesses all around the world, and it strives for the utmost simplicity in every single aspect. With the software you can easily create new invoices, bills and expenses even in different currencies. You can also start new projects, check 7 different automatically generated reports, and add items to your inventory. You also have the option to create and print your own checks from two templates.
Although Kashoo provides an Android application, the iOS version is even better: not only can you send invoices and capture receipts, but you can also work offline. The accounting solution can be integrated with only 4 different third party software, one of which is FreshBooks, another competitor of this accounting solution. The customer service is not 24/7, but all major contact methods are available (email, phone, chat), you get access to a detailed knowhow called Kashoo U, and the company guarantees that you will get help from an actual human being. The pricing strategy of Kashoo is extremely simple: before the expiration of the 14-day trial, you can choose from the monthly subscription for $29.95 per month or the pre-paid annual subscription for $299.95 per year or $25 per month. However, during tax time you can get a 66% discount and purchase the software for only $199.95 per year if you choose the annual pricing plan.
These two solutions are the perfect example of how companies with different strategies handle the challenges of online accounting. Xero is the No. 1 choice of many businesses worldwide as it looks more professional and it allows its clients to choose from different pricing packages. Not only that, but you can also track your invoices, create documents, including quotes and estimates, and allow instant payment to your clients, and file your 1099s. Furthermore, you can integrate 400 third party apps, manage your business using a mobile device and get 24/7 customer support. Kashoo, on the other hand, is for those business owners who want an extremely simple solution with the most essential features – from invoicing to project planning. However, Kashoo is more than that: you can print checks, create new documents in different currencies, get help from a friendly customer service and work offline with the outstanding iOS app.