What We Learnt at Accountex 2023

We had a lovely day in London, walking around and listening to all the fabulous vendors and going to the webinars.

The main focus this year was on the cloud accounting software companies expanding their report offerings and also making payment integration easier and quicker.

Here's a table comparing the subscription costs of Xero, QuickBooks, FreeAgent:

Software	Subscription Plans	Pricing per Month (Starting From) – excluding VAT
Xero	Starter Plan, Standard Plan, Premium Plan	£14, £28, £36
QuickBooks	Simple Start, Essentials, Plus	£14, £24, £34
FreeAgent	Sole Trader, Partnership, Limited Company, Landlords	£19, £24, £29, £10 Free for Natwest, RBS and Mettle bank account holders

The prices are very similar and having time to look at all these packages, I think it boils down to what you like using and what is more convenient for your business.

Please note that the pricing mentioned here represents the starting costs for the respective software plans and may change.

The actual pricing may vary depending on factors such as the size of the business, additional features required, and any promotional offers or discounts available.

It's recommended to visit the websites of each software provider or contact their sales teams for the most accurate and up-to-date pricing information tailored to your specific business needs.

A Comparison of Online Payment Platforms for Small Businesses that Integrated with Xero

Having an online payment platform that seamlessly integrates with Xero can greatly simplify finances and make it easier for clients to pay you. And most importantly improve cash flow for the business.

See below a table of platforms we visited while at Accountex with links. Crezco is a new application and we liked what we saw during the demonstration, and...it’s free if you don’t need the bells and whistles.

Payment Platform	Features	Transaction Fees	Links
Stripe	Multiple payment methods, customizable checkout pages	Transaction fees start at 1.5% + 20p per transaction in the UK.	Pricing & fees | Stripe Official Site | United Kingdom
PayPal	Wide range of payment options, invoicing, online checkout	Transaction fees start at 1.2% + 20p per transaction and vary depending on source of payment	PayPal Merchant Fees - Seller Fees | PayPal UK
Crezco	Crezco is an open banking payment solution for online invoice payments up to £1,000,000.	Free unless you want to own your payment experience	Always know how much you'll pay - Crezco

Please note that the transaction fees mentioned in the table are the starting point and may vary depending on factors such as transaction volume, payment methods and specific business requirements.

It's important to review the pricing details and terms provided by each payment platform because they might have changed since writing this blog.

Choosing the Right Platform

While transaction fees are an important consideration, it's essential to evaluate each payment platform based on your specific business requirements.

Consider factors such as payment methods supported, ease of use, security, customer support, and any additional features offered. It's also beneficial to assess the platform's reputation and user reviews to ensure a smooth and reliable payment experience.

Selecting an online payment platform that integrates seamlessly with Xero can significantly enhance financial operations for small businesses.

Evaluate your business needs, compare the platforms, and choose the one that aligns best with your requirements to optimise your online payment experience and seamlessly integrate it with Xero for efficient financial record-keeping.