As we mentioned, many of the companies in this industry have a number of shared features. Xero and LessAccounting are no different, and have several fantastic things in common including:
1) Multi-Currency: Both companies offer multi-currency and multi-language support in one or more of their packages.
2) Collaboration: Organize and brainstorm with team members, accountants and employees on both platforms.
3) Reports: Xero and LessAccounting automatically generate financial reports including balance sheets and tax reports.
4) Expense Tracking: Record, categorize and organize your outboard resources with their expense tracking tools.
5) Bank Integration: Sync personal or business accounts, including debit/credit cards.
6) Time Tracking: Keep track of your billable hours on the job with their time tracking tools.
7) Inventory Management: Efficiently monitor billing transactions and receive regular updates on the status of your goods/services.
8) Cloud-Based: Access your account from anywhere, on any device, all you need is an internet connection.
While these two do have some notable similarities, there are plenty additional areas where they differ. Xero and LessAccounting represent two different types of accounting software companies in this industry.
Xero has been a titan of the industry for years, and has a considerable reputation as the modern machine. LessAccounting takes a different approach, and specializes in providing personalized assistance to people who hate doing day-to-day bookkeeping. Some additional differences include:
- Xero is extremely robust in terms of features and tools and offers things like advisor tools, expense claims and purchase orders, that LessAccounting doesn’t yet.
- Xero allows you to set up payroll for up to 10 people.
- Their introductory package is considerably more cost effective than LessAccounting’s Freelancers package.
- Their platform is compatible with over 500+ third party apps and widgets.
- LessAccounting is designed to help those of you who need a helping hand with your business accounting.
- If you need bookkeeping help they have a full staff available to you for an extra monthly fee added to your subscription package.
- They also offer a mileage tool, so you can monitor time in transit.
Xero and LessAccounting are both considered to have a very reasonable pricing scale for their various packages. They also have similar package structuring, as you can see below.
Some additional package specifications to keep in mind include:
- LessAccounting has two different package sets. The first includes their bookkeeping service along with their accounting software, while the second is for the software alone.
- Xero doesn’t offer multi-currency features until their later packages, so if you’re looking for a small package with this capability, LessAccounting is the better choice.
- Xero is the more cost effective choice if you’re looking for a small but effective accounting plan.
Moving on to customer reviews, Xero and LessAccounting fall into two different categories. Xero has been a frontrunner for years and has garnered hundreds of reviews. LessAccounting on the other hand hasn’t yet created that same buzz.
Looking first at Xero, their TrustRadius score is the highest in the industry with an impressive 8.9 out of 10 after just shy of 130 reviews. Here’s how those ratings breakdown and what users are saying so far:
In addition, customers were extremely likely to recommend and renew their subscriptions, and praised the software for its usability, availability and performance.
LessAccounting is in a bit of a tricky spot, like a bunch of others in the industry. There are tons of great companies out there that have been around for years, and don’t have much in the way of reviews to show for their hard work.
While we haven’t been able to find any reviews to showcase, what we can tell you is that LessAccounting offers some fantastic resources for new entrepreneurs and a fantastic, easy to use platform. They also have a few video testimonials on their website from happy, long-standing customers.
Although we think both companies have some great features available and a solid platform, Xero wins our vote. They offer a large array of tools and excellent reviews from long term subscribers. If you’d like to learn more about Xero, click the link below to be taken directly to their website.
However if LessAccounting feels right to your specific needs, give it a shot. They offer a great personalized approach.
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