Xero is a software company that offers a cloud-based accounting software platform for small and medium-sized businesses.
Its products are based on the software as a service (SaaS) model and sold by subscription, based on the type and number of company entities managed by the subscriber.
The key features of Xero include automatic bank and credit card account feeds, invoicing, accounts payable, expense claims, fixed asset depreciation, purchase orders, and standard business and management reporting. Xero can automatically import bank and credit card statements.
All financial data is stored in the cloud on a single unified ledger, allowing users to work in the same set of books regardless of location or operating system.