Xero

Xero is a cloud-based accounting software platform founded in New Zealand in 2006 by Rod Drury. The platform serves over 3.95 million subscribers globally and is particularly strong in the UK, Australia, and New Zealand markets. Xero offers invoicing, bank reconciliation, expense claims, inventory tracking, payroll, project tracking, and financial reporting. A key differentiator is Xero's unlimited users on all plans — unlike QuickBooks which limits users per tier. The platform's bank reconciliation engine uses machine learning to suggest matches, making bookkeeping faster. Xero's app marketplace (Xero App Store) has over 1,000 connected apps for industry-specific needs. All plans include double-entry accounting, multi-currency support, and 1,000+ bank connections for automatic transaction import. Xero's clean, modern interface is frequently cited as more intuitive than QuickBooks. Plans start at $15/month (Starter), $42/month (Standard), and $78/month (Premium). Xero went public on the ASX and NZX and has a market cap exceeding $15 billion.