Comparison
Finovo vs Xero
Xero is the global benchmark for small-business accounting. Here's where it wins, where it stops at the border, and how Finovo compares for teams trading in UK, France and Germany.
Most people searching for a Xero alternative are not unhappy with Xero — they have outgrown its geographic boundary. If you are comparing Finovo vs Xero because you now invoice French clients, have hired staff in Germany, or need a finance platform that works in more than one language without stitching three tools together, this page is written for you.
Xero is one of the most polished small-business accounting products in the world. It wins on the breadth of its integration marketplace, the quality of its mobile apps, and the depth of its UK accountant community. But it is fundamentally a single-country platform — UK VAT and MTD are excellent; French DGFiP TVA and German ELSTER VAT simply do not exist inside the product.
Below you will find an honest split of strengths on each side, a detailed feature comparison table, a pricing snapshot, a step-by-step migration guide from Xero to Finovo, and answers to the questions we hear most before teams switch.
Xero
Where Xero genuinely wins
- ✓1,000+ app integrations via the Xero Marketplace — the deepest ecosystem of any SME accounting platform.
- ✓Mature UK MTD VAT filing: reliable, accountant-trusted, and well-documented for contractors and sole traders.
- ✓Full-featured native iOS and Android apps today — receipt capture, invoice approval, and bank reconciliation on the move.
- ✓Huge global accountant community: most UK practices know Xero, making onboarding and advisor handoffs frictionless.
- ✓Simple, transparent pricing at the lower tiers — easy to evaluate without a sales call.
Where Xero is weaker for cross-border teams
- ✗No native French TVA (DGFiP) or German ELSTER VAT filing — expansion into Paris or Berlin means a second accounting tool.
- ✗Multi-currency invoicing is locked to the Premium plan (£55/mo); on Starter or Standard you are limited to your base currency.
- ✗No native French or German payroll — cross-border payroll requires additional SaaS integrations and separate contracts.
- ✗The Starter plan caps you at 5 invoices and 5 bills per month — fine for evaluation, but businesses grow past this quickly.
- ✗SEPA batch payment files and cross-border payment workflows are not a headline capability for EU-facing businesses.
Finovo
Why Finovo is the stronger fit when you cross borders
- ✓One subscription covers UK, France and Germany: HMRC MTD, DGFiP TVA, and ELSTER VAT are first-class, not bolt-ons.
- ✓Multi-currency invoicing across 50+ currencies with live ECB and BoE rates is available on all plans — no premium tier required.
- ✓French and German payroll paths are included from the Professional tier — aligned with how subsidiaries actually operate.
- ✓Open banking across 2,400+ UK and EU institutions with daily sync, so German and French accounts sit next to UK ones.
- ✓Full English, French and German UI — one workspace for international finance teams without parallel ledgers.
Where Finovo is still catching up
- ~Mobile apps are rolling out — if polished iOS and Android apps are a hard requirement today, Xero currently has the edge.
- ~Our integration marketplace is younger than Xero's — if you rely on a niche UK connector, validate it before you move.
- ~Xero's global brand and accountant community depth takes years to build — if your advisor network is Xero-only, factor in the transition.
Feature
| Feature | Finovo | Xero |
|---|---|---|
| Starting price | From £15/mo — multi-country compliance on every plan | From £15/mo Starter (capped at 5 invoices & 5 bills/mo); £30/mo Standard |
| UK VAT (MTD) | All plans — direct MTD submission | All plans — direct MTD submission |
| French TVA (DGFiP) | Included — direct API submission | Not supported — third-party workaround required |
| German VAT (ELSTER) | Included — ERIC API submission | Not supported — third-party workaround required |
| UK Payroll | From Professional plan | Add-on (£5/mo + £1 per employee) — not bundled |
| French Payroll (DSN) | From Professional plan | Not supported |
| German Payroll (DATEV) | From Professional plan | Not supported |
| Open banking | 2,400+ UK & EU banks — daily sync | UK & EU banks via third-party consent — daily sync |
| Multi-currency invoicing | 50+ currencies with live ECB/BoE rates on all plans | Premium plan only (£55/mo) — not on Starter or Standard |
| SEPA batch payments | Yes — pain.001 XML generation | Not a core feature |
| Third-party integrations | Growing marketplace | 1,000+ apps via Xero Marketplace |
| Fixed assets & depreciation | Yes — straight-line, declining balance | Yes — fixed asset register included |
| Mobile app | iOS + Android (coming soon) | iOS + Android — full-featured |
| Free trial | 60 days (Professional) or 30 days — no card required | 30 days — no card required |
| Accountant access | Included on all plans | Xero HQ for practice partners — included |
Pricing comparison (verify before you buy)
Retail prices change with promotions and plan updates. Use this table as a planning snapshot, then confirm live numbers on each website. The important question is not just headline monthly cost — it is what you pay once you add multi-currency, country compliance, and payroll.
| What you are comparing | Finovo | Xero |
|---|---|---|
| Typical entry price (public list, UK) | Starter from £15/mo — same stack for UK, FR, DE compliance | Starter £15/mo (5 invoices/mo cap); Standard £30/mo (50 invoices); Premium £55/mo (unlimited + multicurrency) |
| Multi-currency invoicing | Included on all plans — no upgrade required | Premium plan only (£55/mo) |
| French + German compliance in the same product | Included — TVA, ELSTER, payroll paths on higher tiers | Not available — requires separate country-specific tools |
| Accountant access | Included on every plan | Xero HQ — practice-side access included |
| Free trial | 60 days (Professional) or 30 days, card not required | 30 days, card not required |
Xero's plan limits and prices have changed several times — always verify on xero.com before budgeting. If you need multi-currency today and are not on Xero Premium, the effective price comparison shifts significantly.
Switching from Xero to Finovo
Xero exports are clean and well-structured, which makes migration straightforward. Most companies complete the move in an afternoon if the chart of accounts is tidy. Run both systems in parallel for one VAT period if your accountant prefers a soft cutover.
Export a trial balance and chart of accounts from Xero
In Xero, go to Accounting > Reports and export a Trial Balance and Profit & Loss for the current period. Download a CSV of your chart of accounts separately. Your Finovo onboarding checklist will tell you exactly which ledgers to map; keep fixed assets and payroll scheme codes handy.
Move open invoices, bills, and contacts
Export customers, suppliers, unpaid invoices and bills to CSV from Xero's Accounting menu. Finovo's import templates align to Xero's export columns to minimise manual re-mapping. If you use Xero Projects, export cost allocations now — we map these to Finovo cost centres.
Reconnect bank feeds in Finovo
Finovo uses its own open banking consent, so reconnect each UK and EU account inside Finovo. Import the last 90 days of transactions to give yourself a clean reconciliation window before you cut over completely.
Recreate payroll and tax settings
HMRC PAYE references, VAT registration numbers, and scheme dates should match exactly. If you are adding French or German entities for the first time, add registrations before you file — your accountant can review in a shared workspace.
Parallel run one return, then cut over
Many teams file one more MTD return from Xero while reconciling in Finovo, then switch filing credentials after that period closes. This approach gives your accountant a comparison check before you decommission the old platform.
Need help? Finovo support can review your Xero export package before import — send anonymised samples if your data policy requires it. The goal is zero surprises on VAT or payroll deadlines.
Common questions: Finovo vs Xero
Our honest take
Xero is an excellent product if you run a UK-only business and value a mature integration ecosystem or polished native mobile apps. The 1,000+ app marketplace and global accountant community are genuine advantages that take years to build.
Finovo is the stronger fit if you operate across UK, France or Germany, need multi-country payroll, or want multi-currency without upgrading to a premium tier. Where Xero stops at the UK border, Finovo's compliance stack covers all three markets under one subscription.
The key differentiator is cross-border compliance. Xero has no native French DGFiP or German ELSTER filing — businesses expanding into Paris or Berlin end up running Xero alongside a country-specific tool, doubling their costs and data entry.
Start your free trial
No credit card required. Import your Xero data via CSV in minutes.