Xero is the established global cloud accounting platform — strong in Australia, New Zealand, and the UK with a deep ecosystem of accountants, advisors, and 1,000+ third-party apps.
HelloBooks is an AI-first newcomer that includes every feature on every plan, ships with two-way QuickBooks Online sync, and connects to 11,000+ US banks via Plaid; pricing starts at $4.99/month.
For AU/NZ businesses already inside the Xero advisor network, Xero is hard to displace today. For founders who want AI-driven categorization, lower entry pricing, and a free tier, HelloBooks is the more progressive bet.
Where a value is shown as “—”, the feature was not verified at review time. See Xero's site for the latest specifics.
| Feature | HelloBooks | Xero |
|---|---|---|
| Starting price | Free plan + paid from $4.99/mo (USD) | Paid only — pricing varies by region (Starter / Standard / Premium tiers) |
| Country support | US, UK, India primary; AU / NZ / SG / UAE in product roadmap | AU, NZ, UK, US, Canada, Singapore, South Africa and more |
| STP Phase 2 (AU) | Roadmap — verify current support with sales | Native STP Phase 2 reporting via Xero Payroll |
| BAS (AU) | BAS-friendly GST coding; lodgment workflow on roadmap | BAS preparation built in; lodge via SBR or export to ATO |
| GST e-invoicing (India) | IRN + QR generation via Fynamics GSP integration | — |
| HMRC MTD (UK) | Regulatory alignment with HMRC MTD — verify scope with sales | HMRC-recognised for MTD VAT submissions |
| Bank feeds | 11,000+ US banks via Plaid; direct feeds in other regions | Direct feeds, Yodlee in some regions; coverage varies by country |
| Payroll | Payroll module — country availability varies | Xero Payroll (AU, NZ, UK, US) bundled or add-on by plan |
| Time tracking | HelloTime add-on for time tracking and attendance | Xero Projects for time tracking and project profitability |
| Multi-currency | Included on all plans with auto FX gain/loss | Xero Established (top tier) only |
| Integrations | Plaid, QuickBooks Online (two-way sync), Stripe, Shopify (in build) | 1,000+ apps in Xero App Marketplace |
| Reporting depth | AI dashboards, cash-flow forecasting, custom report builder | Mature reporting suite, business snapshot, custom layouts |
| AI features | AI categorization, OCR, anomaly detection, conversational AI | Bank rules + Xero Just Ask AI assistant (rolling out 2024+) |
| Free plan | Yes — free forever, 500 AI credits/month | No — 30-day trial only |
Yes at the entry point. HelloBooks has a free plan and paid plans from $4.99/month with all features included. Xero does not offer a free plan, and gates features like multi-currency to its top-tier Established plan. Exact Xero pricing varies by region — see xero.com for current AUD, GBP, or USD rates.
STP Phase 2 reporting is on the HelloBooks AU roadmap. Xero Payroll currently has native STP Phase 2 support and is the safer choice if you must lodge today. Contact the HelloBooks team for the current AU compliance status before switching.
Yes. HelloBooks supports CSV import for chart of accounts, customers, vendors, items, invoices, and bills — all of which Xero can export. There is no automated two-way sync between Xero and HelloBooks today (unlike the QuickBooks Online connector), so plan a structured cutover at month-end or year-end.
Xero is HMRC-recognised software for MTD VAT submissions and has been since MTD launched. HelloBooks is regulatory-aligned with HMRC MTD per our compliance documentation — verify recognised-software status with our sales team if you must submit MTD VAT immediately.
HelloBooks ships AI categorization, OCR-driven bill capture, anomaly detection on the ledger, and a conversational AI that answers questions against your books. Xero has bank rules, plus the newer Xero Just Ask AI assistant, but the day-to-day bookkeeping in Xero remains rule-driven rather than AI-driven.
HelloBooks connects to 11,000+ US banks via Plaid with real-time feeds. Xero uses a mix of direct feeds and Yodlee in the US, and historically has a smaller US bank list and slower feed reliability than Plaid.
Yes. HelloBooks ships a built-in two-way sync with QuickBooks Online so you can run both during a transition period or keep QBO as a tax-prep file while HelloBooks runs the day-to-day. Xero only offers a one-time import from QuickBooks via CSV or third-party tools.
If your accountant runs your file in Xero today and you are happy with current STP/BAS workflows, switching has real friction. If you are starting fresh and want AI automation plus lower entry pricing, HelloBooks is worth a free-tier trial — but verify AU compliance scope with sales before committing.
HelloBooks supports CSV import for chart of accounts, customers, vendors, items, invoices, and bills. For QuickBooks Online, we offer a built-in two-way sync. For other platforms, our migration team can assist with a structured cutover.
HelloBooks pricing
Free plan + paid plans with every feature included on each tier.
AI categorization
How HelloBooks auto-categorizes transactions with confidence scoring.
Smart invoicing
AI-assisted invoicing with email, WhatsApp, and SMS delivery.
Integrations
Plaid, QuickBooks Online two-way sync, Stripe, and more.
FAQ
Common questions on plans, billing, security, and migration.
Switching savings calculator
Estimate annual savings from switching to HelloBooks.