Xero uses tracking categories and options instead of department codes or cost centres. This keeps your chart of accounts manageable. You can have two active tracking categories.
Xero offers three main monthly subscription pricing tiers: Early, Growing and Established. Early – The Early plan costs $11 per month and offers the ability to: capture bills and receipts with Hubdoc app Growing – The Growing plan costs $32 per month and includes unlimited invoice and quote sending and bills.
Data is accessible through a single ledger, allowing accountants and clients to collaborate around finances. All small and medium sized businesses and accounting & bookkeeping practices. Xero pricing starts at $5.50 per month. They do not have a free version.
Does Xero have a price book?
Apart from inventory items and discount rates, Xero does not support price books in any way. You would need to look at Invoicing add-ons (such as Freshbooks), Inventory/POS systems (Unleashed and Vend) or project-management systems (Work. Flow. Max) to see if they will meet your needs.
As of November 1st, 2018, Xero no longer includes payroll, and they have limited some features (such as expenses and multi-currency support) to their most expensive plan. Each plan still offers unlimited users and live bank feeds, so businesses can download, categorize, and reconcile their transactions as usual.
Does xero have inventory?
Xero’s feature lets you save details of things you buy and sell regularly as inventory items. If you hold stock of these items, you can track the quantities and values you have on hand.
How do you use Xero for inventory management?
Run inventory management reports to find out how well different items are selling. Create reusable text – like item descriptions and prices – to use in quotes, invoices, and purchase orders. Access all Xero features for 30 days, then decide which plan best suits your business. Xero became a really critical tool for us as we took on more staff.
Xero does not really handle Stock and selling items very well. This is something that inventory management or POS systems (such as Unleashed or Vend) do much better. 2 years after a whole raft of customers requesting this feature, still no news from the developer.
What is Xero?
Established in 2006, Xero is a web-based accounting system designed for small and growing businesses. Xero connects small businesses with their trusted advisors and provides business owners with instant visibility of their financial position.
Xero-award winning Most Valuable Professional accountant serving NZ, Canada and US. Book a paid live remote Xero support session with me (no matter where you are) or use our self-paced Xero training. As Peter said, tracking categories is the way to go.
What does Xero look like?
Xero keeps count of items and their value. View reports on how well items are selling. Use preset details in invoices and orders. This is what Xero looks like. Keep count of the items you have in stock as you buy and sell with inventory software in Xero. Run inventory management reports to find out how well different items are selling.
This begs the question “What is tracking in Xero?”
Thanks @Ian & @Patrick, Tracking is what you’d use in Xero to report on cost centres. You are currently able to use two Tracking categories (with multiple sub categories) for reporting on your income vs expenditure.
What are the different types of Xero plans?
Xero offer three price plans: starter, standard and premium. You don’t have to sign-up for Xero straight away. Start a 30-day free trial with every feature, unlimited users and no credit card required.
You could be thinking “How many categories can you have in Xero?”
As Peter said, tracking categories is the way to go. In Xero you can have two active categories at any time (but up to 4 total, with 2 being archived). And each tracking category can have up to 100 active options.