Xero

Xero: The cloud-based accounting software for small and medium-sized businesses, offering features for invoicing, billing, bank reconciliation, expense tracking, and financial reporting to streamline accounting processes and drive financial visibility and control.

Minimum estimated potential saving – 18%.

How to reduce the cost of Xero subscription

 i – Tricks are what we like to call direct ways to reduce your subscription costs.

Ask your accountant to Join the Partner Program

They will gain complimentary access to Xero software with additional benefits.

https://www.xero.com/ph/accountants-bookkeepers/

https://www.xero.com/ph/xero-ledger-and-cashbook/

Additional reduction ways to try to reduce subscription costs

Optimize User Licenses 

Audit user licenses and remove inactive users. Consider permission sets to grant specific functionalities instead of assigning full licenses for basic needs.

Data Storage Management

Archive old data. Utilize data validation rules to prevent unnecessary data entry that consumes storage

Process Automation: Utilize workflow and approval processes to automate manual tasks, reducing the need for additional licenses.

How to implement a Workaround to reduce subscription for Xero

 i – A workaround is using another tool to reduce your subscription.

– We haven’t found any current workarounds to reduce your subscription

Additional workarounds to try to reduce subscription costs:

Integrations with Free/Freemium Tools

Explore free or freemium tools like Zapier to automate tasks that might require additional licenses (e.g., basic data cleansing). Consider integrating with freemium tools like Slack for internal team usage

How to reduce Xero via bundling

 i – Use one tool to get a discount on another tool.

– We haven’t found any current ways to bundle your subscription

Additional bundling options to try to reduce subscription costs:

Pairing/Bundling for Discounts

Partner Programs: Check if your company qualifies for partner discounts through partnerships with other software providers (e.g., some cloud storage services offer discounts with Salesforce).

Negotiate with Support. Customer support details of Xero 

 i – Speak with Xero support team and ask for a discount.

Discuss Usage Patterns: Contact support and discuss your current usage patterns. They might offer discounts based on your specific needs and historical data.

Negotiate Renewal Rates: Before your subscription renews, negotiate renewal rates with support. Loyalty and commitment to the platform can sometimes lead to better pricing.

Use this for help: Customer support list or google

[email protected]

How to switch to subscription type for Xero

 i – Switching to a longer-term contract or changing subscription type is a good way to save.

Xero currently does not have an annual subscription. 

Reduce Inactive Users

Regularly review user activity and remove inactive user licenses to free up costs.

Switch to Alternative for Xero

 i – Here is a list of similar products that are similar you can switch to for savings.

• QuickBooks Online: The popular cloud-based accounting software for small businesses, offering features for invoicing, expense tracking, payroll management, tax preparation, and financial reporting to streamline accounting processes and manage finances with ease.
• FreshBooks: The user-friendly accounting software designed for small businesses and freelancers to manage invoicing, expenses, time tracking, and financial reporting, offering features for streamlining billing processes and improving financial visibility and control.
• Wave: The free accounting software designed for small businesses, freelancers, and entrepreneurs to manage invoicing, expenses, and accounting tasks, offering features for simplified bookkeeping, invoicing, and financial reporting to streamline financial management processes.
• Sage Business Cloud Accounting: The comprehensive cloud-based accounting software for small and medium-sized businesses, offering features for invoicing, expense tracking, bank reconciliation, tax preparation, and financial reporting to streamline accounting processes and drive financial visibility and control.
• Zoho Books: The intuitive accounting software for small businesses to manage finances, invoicing, expenses, inventory, and more, offering features for simplified bookkeeping, invoicing, expense tracking, and financial reporting to streamline financial management processes and drive business growth.
• MYOB: The accounting software for small and medium-sized businesses, offering features for invoicing, expense tracking, payroll management, tax preparation, and financial reporting to streamline accounting processes and drive financial visibility and control.
• Kashoo: The user-friendly accounting software designed for small businesses and freelancers to manage finances, invoicing, expenses, and tax preparation, offering features for simplified bookkeeping, invoicing, and financial reporting to streamline accounting processes and improve financial management.

Open-Source Solutions: Depending on your needs, explore open-source solutions that might offer similar functionalities at a lower cost. When searching try “Opensource for x” to find applicable tools. 

• Akaunting: The open-source accounting software designed for small businesses, freelancers, and entrepreneurs to manage finances, invoicing, expenses, and reporting, offering features for simplified bookkeeping, invoicing, and financial reporting to streamline accounting processes and improve financial management.
• BigCapital.ly: Online accounting software, built to automate business financial processes.
• Control your business bookkeeping with automated accounting, to run intelligent reports for faster decision-making.