Strong AI adoption - constantly improving quality of transaction matching in reconciliation and reading data in receipts.Faster bookkeeping - powerful cash coding feature speeds up the reconciliation process.Faster bookkeeping - users can scan receipts with their phone and automatically extracts information for lodging expense claims.Faster bookkeeping - Matches transactions with invoices and bills, and suggests codes in the chart of accounts for recurring transactions.Faster bookkeeping - Reliable bank feeds with many financial institutions to automatically import bank transactions on a daily basis.Extensible platform - Large marketplace of app integrations that extend the power of the platform by automating data sharing and processes.Easy to use - Simple user interface makes it easier for business owners and non-accountants to create invoices, pay bills and understand the financial performance of their business.
Xero also limits the number of staff in its payroll module to 200 employees. However, this can cause timeouts with reports at the upper end. 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. Users can take a photo of receipts and Xero will extract information required for expense claims. Xero’s expense claims module is another example of its focus on automating data capture. It can automatically pull bank statements as a daily feed and apply rules to automate a large part of the reconciliation process. Xero has also invested heavily in building a strong network of bank connections. Xero first gained recognition and a loyal following because of its appealing interface and design, which makes it easy for non-accountants to use. Launched in 2006, Xero pioneered or popularised many concepts that have become standard features in all cloud accounting software. Xero is cloud accounting software designed for small businesses.
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