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. It offers a free API that enables customers and 3rd-party software vendors to integrate external applications with Xero. Over 275 3rd-party software vendors have built Xero add-ons. Xero also supports multiple tax rates and currencies. It also incorporates a payroll feature and a projects feature. Additionally, users can access local teams in New Zealand, Australia, Europe and the United States.
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. Fast Company featured the software’s UI design in a 2012 article, stating that the design is simple and makes it easy for users to get an at-glance idea of real time financial situations. In 2011, Xero released the Xero Touch mobile apps for iOS and Android devices, allowing users to issue invoices while on-site with clients. On August 16, 2016, Xero announced they were partnering with PayPal to allow invoices to be paid via PayPal directly from the invoice.