What is Xero?
Xero is an online accounting software designed for small businesses. It connects businesses with their banks, accountants, bookkeepers, and other business applications, providing a central platform for financial management. The software aims to help businesses manage their accounting needs efficiently and maintain clear financial records. Small businesses use Xero to manage various financial tasks, including sending invoices, accepting payments, and paying bills. They can also create purchase orders, claim expenses by scanning receipts, and perform bank reconciliations to keep accounting records accurate. The software includes features like JAX, an AI finance partner, to automate tasks and provide financial insights.