Your Guide to Xero’s Accounting Plans and Pricing

“Will I be able to afford such an investment for my small business?” “Can I really spend that much for cloud accounting services?” “Isn’t it just too much as an additional expense for my starting company in Singapore?” “Will I be able to recover all the expenses that will result from my accounting system migrating to Xero?”

If these sound exactly just like you, we completely and totally understand. But there’s no need to panic and be stressed about it. Because we, Enterprise Global - your business partners who are true advocates of the Xero accounting software - have got your back.

If you already love everything about Xero as much as we do, but you really don’t have an idea where and how to start, then hear us out. Because even though purchasing and subscribing to a cloud accounting service such as Xero come with great and exciting benefits, the best thing about it is that it doesn’t really cost that much (as compared with other popular accounting softwares today) - making it indeed perfect for small and medium sized businesses.

To see for yourselves how much investing in Xero accounting Singapore could cost you, here’s a simple guide to their accounting plans and pricing schemes:

Xero Pricing Plans

Xero offers three kinds of plans/subscriptions to provide its users and partners flexibility. These are: the Starter, Standard, and Premium plans. All three plans include the basic features and essentials of Xero just like invoicing, payments, bank feeds, and more. And just in case you get disappointed with the cloud accounting service (which we highly doubt), it doesn’t really matter what kind of plan you have chosen as all of them can be cancelled anytime. Just make sure to provide them at least one month’s notice. Here are more details on their pricing plans:

Starter Plan - SGD 26.4 (US$ 20) per month

This plan is highly recommended for small startups like home-based businesses with about 1-5 number of employees. When you subscribe to this plan, it’ll allow you to:

  • Send 5 approved sales invoices and bills online (per month). However, if you’ve already reached your limit for the month, it’ll be just saved as a draft.
  • Schedule bill payments and batch-pay your suppliers for 5 times for each calendar month
  • Reconcile 20 bank transactions (to import and categorize)

Standard Plan - SGD 39.6 (US$ 30) per month

If your small business has slowly been taking up and you’re seeing a steady growth for the past months, we recommend that you get the Standard Plan already. Here are its perks:

  • Increase your cash flow and get paid faster as you could send an unlimited number of quotes and bills per month
  • You can keep track of all the bills you pay, schedule your payments, and record them properly as often as you’d like
  • You can get your latest bank transactions updated anytime as they can be easily imported and categorized unlimited times per month; all you need to do is just click OK to reconcile that bank transaction/account.

Premium Plan - SGD 52.8 (US$ 40) per month

This plan is highly recommended for existing and established companies in Singapore that are constantly growing and even have plans of entering international markets. Why do we say so? Here’s what it’ll include:

  • Increase your cash flow and get paid faster as you could send an unlimited number of quotes and bills per month
  • You can keep track of all the bills you pay, schedule your payments, and record them properly as often as you’d like
  • You can get your latest bank transactions updated anytime as they can be easily imported and categorized unlimited times per month; all you need to do is just click OK to reconcile that bank transaction/account
  • You can manage and handle 160 different currencies for payroll, invoicing, and bank reconciliation

Try it to believe it - FOR FREE!

If you’re still anxious, scared, or worried if Xero really is for you, we have a solution for that. Unlike other popular accounting and finance softwares in the market today, Xero provides free trial services for everyone who wishes to  experience its advantages and benefits. All you need to do is visit the official Xero website, do a quick online sign up, and then you’ll already be able to enjoy Xero’s features for free, for 30 days.

Changing Your Pricing Plan

If ever you realize that the pricing plan you have chosen isn’t really the one that fits your business needs and goals, Xero makes it easy for you by letting you modify your subscription through your Xero dashboard. As a matter of fact, your My Xero Page settings menu allows you to Change Pricing Plan, Transfer Subscription, and Cancel Subscription.

Just know that if you are part of some sort of a prepaid monthly period, and you have already paid in advance, you may choose to downgrade or change your plan immediately or wait until the end of your paid monthly period (whatever gives you peace of mind). However, if you are currently in a Premium plan and you chose to downgrade at once, don’t expect to receive credit for the remaining days or period.

But don’t you worry, every time you change your pricing plan, it won’t affect your access to Xero’s essential features. In the same way, you will still continue to have access to all the information you entered in Xero even before your pricing plan was changed.

Should you need more assistance in migrating your current system to Xero Singapore cloud accounting software and enjoy the benefits of being a Xero-certified accounting firm, we would be more than willing to give you a hand. Your experts here at Enterprise Global have years of experience in providing financial and accounting services for different sizes of companies in multiple industries. Get in touch with us today!

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