Software Alternatives, Accelerators & Startups

Xero VS Bankfeed

Compare Xero VS Bankfeed and see what are their differences

Xero logo Xero

Xero is online accounting for your small business.

Bankfeed logo Bankfeed

Is your company receiving a lot of incoming payments? Are you using more than one bank? Bankfeed saves time and prevents errors by automating the import of bank statements to Microsoft Dynamics 365 Business Central and the reconciliation of payments.
  • Xero Landing page
    Landing page //
    2023-10-19
  • Bankfeed Landing page
    Landing page //
    2023-06-12

Forget about logging into different banks. Have all your bank statements in Microsoft Dynamics 365 Business Central, and reconcile payments with invoices AUTOMAGICALLY!

If your company meets at least one of these conditions, you will find Bankfeed valuable: • Receives many payments • Uses several bank accounts • Wants to post transactions quickly and error-free • Wants to view payments in real time • Has operations in multiple countries

Bankfeed allows you to automate bank statement import into Microsoft Dynamics 365 Business Central as well as payment recognition and reconciliation with issued invoices.

The solution works with all European banks, including Santander, ING, Barclays, HSBC, Swedbank, Revolut, PayPal, Stripe, Wise, American Express, N26 and others.

Here's what customers have to say: “At least 98% of incoming payments are automatically identified and reconciled with invoices. This makes my daily work much easier.” Jurgita Lapinskiene, USAD

“We have more than 60 bank accounts, so it used to take a lot of time to manually manage all the incoming payments. I am happy that Bankfeed automates that.” Neringa Baronaitiene, Gelvorasergel

“The automatic recognition and reconciliation, as well as the separation of bank charges, saves at least 4 hours per day, i.e., about 10 days per month.” Sigita Geinaite, Trobos

FOR MORE INFORMATION PLEASE VISIT https://bankfeed.com/

Xero

Website
xero.com
$ Details
paid Free Trial $9.0 / Monthly (Send 5 invoices and quotes / Enter 5 bills)
Platforms
-

Bankfeed

$ Details
paid Free Trial €100.0 / Monthly (Up to 3 bank accounts)
Platforms
Microsoft Business Central

Xero features and specs

No features have been listed yet.

Bankfeed features and specs

  • All European banks: Yes, 2300+ banks
  • Automatic bank statement import: Yes
  • Automatic payment recognition: Yes
  • Automatic payment reconciliation: Yes
  • Automatic invoice reconciliation: Yes

Xero videos

Xero vs QuickBooks Online 2019

More videos:

  • Review - Xero Accounting Software Review
  • Review - 3 Minute Overview of Xero Accounting Software

Bankfeed videos

Bankfeed demo

More videos:

  • Tutorial - Bankfeed Assisted Setup for Bank Connection
  • Tutorial - Bankfeed Assisted Setup for General Settings
  • Tutorial - Bankfeed Guided Tour

Category Popularity

0-100% (relative to Xero and Bankfeed)
Accounting
99 99%
1% 1
Finance
0 0%
100% 100
Bookkeeping
100 100%
0% 0
Accounting & Finance
98 98%
2% 2

Questions and Answers

As answered by people managing Xero and Bankfeed.

Why should a person choose your product over its competitors?

Bankfeed's answer:

Bankfeed works with all European banks, including Santander, ING, Barclays, HSBC, Swedbank, Revolut, PayPal, Stripe, Wise, American Express, N26 and others. 2300+ banks in total. The solution also provides automatic payment reconciliation with issued invoices.

Which are the primary technologies used for building your product?

Bankfeed's answer:

Bankfeed works as an add-on for Microsoft Dynamics 365 Business Central. For the integration with all European banks, the solution uses open banking (PSD2) technology.

Bankfeed supports the most common bank formats worldwide: CAMT.053 (financial statement import) CAMT.052 (financial statement import)

How would you describe your primary audience?

Bankfeed's answer:

If a company meets at least one of these conditions, it will find Bankfeed valuable: - Receives many payments - Uses several bank accounts - Wants to post transactions quickly and error-free - Wants to view payments in real time - Has operations in multiple countries

What makes your product unique?

Bankfeed's answer:

Bankfeed allows you to automate bank statement import into Microsoft Dynamics 365 Business Central as well as payment recognition and reconciliation with issued invoices.

User comments

Share your experience with using Xero and Bankfeed. For example, how are they different and which one is better?
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Reviews

These are some of the external sources and on-site user reviews we've used to compare Xero and Bankfeed

Xero Reviews

Top 9 NetSuite Alternative Software for Professional Services
Xero offers an accessible, intuitive user experience suitable for smaller companies. However, certain reviewers have noted that the pricing points can be high for the tool’s value. As Xero doesn’t provide end-to-end project management support, investing in a unified platform with Xero integration is something you can consider.
Source: productive.io
5 Best Alternatives to QuickBooks Accounting Software
Easy-to-use dashboard: Both QuickBooks Online and Xero have intuitive dashboards that present all relevant data, including cash flow from all banks. While QuickBooks takes a more sophisticated approach to this, Xero’s style is more streamlined.
The 8 Best QuickBooks Alternatives for Small Businesses
While both QuickBooks and Xero allow for app integration, Xero goes above and beyond with more than 700 app integrations, extending the basic functionality of the application considerably. Apps are available in numerous categories including CRM, e-commerce, time tracking, practice management, payroll, and point of sale.
Source: www.fool.com
7 Best QuickBooks Alternatives for Small Businesses
Xero has three pricing tiers and all of them support unlimited users. If you’re a super small business, the Early plan at $12/month may work for you — just keep in mind you can only enter up to five bills and 20 invoices. However, most small businesses quickly outgrow this package and move up to the $34/month Growing plan. More complex businesses that deal with multiple...
Source: www.fundera.com
20 best accounting software tools
Xero is a free cloud-based online accounting software aimed at small and midsize businesses – it offers an easy way to handle your transactions and run your business.
Source: clockify.me

Bankfeed Reviews

We have no reviews of Bankfeed yet.
Be the first one to post

Social recommendations and mentions

Based on our record, Xero seems to be more popular. It has been mentiond 1 time since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Xero mentions (1)

  • I would like some input on accounting software
    Thanks, will you be able to sign me up on South African packages as well? The naming scheme and pricing is different for xero.com/us and xero.com/za. Source: over 2 years ago

Bankfeed mentions (0)

We have not tracked any mentions of Bankfeed yet. Tracking of Bankfeed recommendations started around Jun 2023.

What are some alternatives?

When comparing Xero and Bankfeed, you can also consider the following products

FreshBooks - The ideal accounting software for small business owners.

Sage Intacct - Intacct is a cloud-based accounting and financial management system that is designed for the businesses of all levels.

QuickBooks Online - QuickBooks Online is a Cloud Accounting for small business that can be used on iPad, mobile phone or computer to do invoicing, billing, run reports, or even pay employees online.

QuickBooks - Business runs better with QuickBooks, the #1 accounting solution for small business.

Odoo - An all-integrated business app suite to unleash your growth potential.

Mint - Free personal finance software to assist you to manage your money, financial planning, and budget planning tools. Achieve your financial goals with Mint.