Xero vs Plooto

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Our analysts compared Xero vs Plooto 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
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Plooto is an automated accounts payable and receivable software that helps its users collect one-time or recurring payments and pay the vendors on time. It can integrate with QuickBooks and Xero. Businesses can reduce AR and AP processes with robust modules like pre-authorized debit agreements, customizable approval workflows and more. It allows payment approvals from the designated person from anywhere. With it, users can eliminate data entry problems and keep a complete audit trail of all transactions.
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$15 Monthly
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$25 Monthly
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Product Assistance

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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.
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  • Faster Payment Approval: Start approval processes immediately after account creation. Approve payments with a single click for one person or multiple people via the cloud. 
  • Seamless Money Transfer:: Send forms through emails to receiving parties to fill up their bank details and make payments after that. 
  • Automatic Invoice Reconciliation: Integrate with different accounting software. Mark payments as paid automatically after the transfer is complete. 
  • Flexible Payment Options: Provide various payment options. Clients can pay via credit cards or set up pre-authorized debits with an automatic withdrawal feature. 
  • Track Payments: Set up alerts for clients to notify about emails and get faster payments. Create reminders for nearly due or overdue payments. 
  • Network: Add vendors and suppliers quickly. Integrate business payments by credit cards, checks, e-transfers or ACH/EFT into a single platform. Gain real-time visibility into financial data and cash flows and reduce the overall cost. 
  • Security: Ensure the safety of sensitive bank details with its robust security feature. Offer comprehensive protection with the Automatic Clearing House and Electronic Funds Transfer Payment features. 
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  • 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.
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  • Accounts Receivable: Import invoices and minimize authorization time with pre-authorized debit and recurring payments. Track invoices and get information on client payments. Gain complete visibility into pending, completed and new receivables from one place. 
  • Accounts Payable: Automate AP processes and control spending, time and efficiency. Import bills from the accounting software. Get notifications for requesting and receiving approvals. Add vendors, suppliers and billers in two clicks. Automate, route and personalize payment approvals using custom rules. Avoid lost invoices, manual AP tasks and paperwork. Obtain early payment discounts and ensure better cash management. 
  • International Payment: Transfer money within the US, Canada and other countries to run an international business. Make cross-border and international payments with a $9.99 fee. Get competitive exchange rates and manage different payment types on a single platform. 
  • CRA Payments: Make remittances to the Canadian Revenue Agency anywhere and anytime in one click. Facilitate touch-less government transfers with electronic workflows. 
  • Online Check Payment: Ensure faster and safer AP automation through electronic methods and traditional checks. Enable users to set up online payments and manage printing and shipping procedures. Allow automatic reconciliation with physical checks. Provide a complete audit trail of payments. 
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Product Ranking

#3

among all
Accounting Software

#187

among all
Accounting Software

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Analyst Rating Summary

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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

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Accounts Payable Accounts Receivable Banking And Cash Management Budget And Expense Management Financial Statements And Revenue Management General Ledger And Chart Of Accounts Integration And Extensibility Inventory Management Journal Entries Mobile Support Multi-company Accounting And Asset Management Platform Capabilities Project Accounting Reporting And Analytics Tax Management 93 97 100 89 89 100 100 83 100 100 79 89 100 90 92 0 25 50 75 100
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User Sentiment Summary

Great User Sentiment 4652 reviews
Great User Sentiment 442 reviews
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

Plooto has a 'great' User Satisfaction Rating of 88% when considering 442 user reviews from 2 recognized software review sites.

4.4 (17)
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4.33 (2132)
4.35 (221)
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Awards

SelectHub research analysts have evaluated Xero and concluded it earns best-in-class honors for Integration and Extensibility and Mobile Support.

Integration and Extensibility Award
Mobile Support Award

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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.
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Streamlined Accounts Payable: Plooto simplifies the entire bill payment process, from data entry and approvals to scheduling payments and syncing with accounting software.
Enhanced Accounts Receivable: Plooto enables businesses to get paid faster by offering convenient payment options to their customers, such as credit cards and ACH transfers.
Improved Cash Flow Management: Plooto provides real-time visibility into cash flow, allowing businesses to make informed decisions about their finances.
Reduced Manual Data Entry: Plooto automates many of the tasks associated with accounts payable and receivable, such as data entry and reconciliation, which can save businesses time and money.
Increased Security and Compliance: Plooto uses bank-level security measures to protect financial data, and it is compliant with industry regulations.
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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.
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Limited International Payment Support: Plooto primarily focuses on the Canadian market, with limited support for international payments, which can be a significant drawback for businesses with global operations.
ACH Payment Processing Time: ACH payments through Plooto can take several business days to process, potentially causing delays in vendor payments and impacting cash flow management.
Customer Support Challenges: Some users have reported difficulties reaching Plooto's customer support, particularly during peak hours, leading to frustration and delays in resolving issues.
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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.

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Plooto has garnered significant attention for its ability to simplify the often complex world of business finances. Users frequently highlight its user-friendly interface and affordability as key strengths, making it a popular choice for small businesses seeking an efficient accounting solution. The software's comprehensive features, including automated invoicing, payment processing, and international transaction capabilities, further enhance its appeal. Plooto's seamless integration with popular accounting software like QuickBooks and Xero eliminates the need for manual data entry, saving time and reducing errors. However, some users have pointed out that Plooto's initial setup can be challenging, and occasional slowdowns can occur. Security concerns have also been raised, prompting Plooto to continuously improve its safety measures. While Plooto excels in streamlining payment processes and basic accounting tasks, businesses requiring more advanced accounting functionalities or those with stringent security requirements may need to explore alternative options. In conclusion, Plooto is an excellent fit for small to medium-sized businesses seeking an affordable and user-friendly solution to manage their accounts payable and receivable processes. Its automation capabilities and integration with existing accounting software can significantly improve efficiency and reduce manual workload. However, businesses with complex accounting needs or heightened security concerns should carefully evaluate whether Plooto fully meets their requirements before committing. Remember, the software landscape is constantly evolving, so it's always wise to check for the latest updates and reviews to make an informed decision.

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