The best Xero alternative in 2026
If you are looking for an alternative to Xero, Hengo offers everything Xero does — plus multi-currency on every plan, Costa Rican IVA support, crypto accounting, engagement letters, and AI receipt parsing included. Starting at $19/month with no per-user fees.
Why switch from Xero to Hengo?
- Multi-currency on every plan: Xero requires the Established plan ($42/month) for multi-currency. Hengo includes CAD/USD/CRC on all plans starting at $19/month.
- Costa Rican IVA: Xero does not support Costa Rican IVA or facturación electrónica. Hengo handles both natively.
- AI receipt parsing included: Xero offers Hubdoc as an add-on. Hengo includes AI receipt parsing on all plans.
- Crypto accounting: Hengo's Professional plan includes crypto wallet tracking and cost basis calculation. Xero requires third-party tools.
- Engagement letters: Hengo includes engagement letter creation and e-signing. Xero does not offer this.
- No per-user fees: Invite your whole team, bookkeeper, and accountant at no extra cost.
- Lower price: Hengo starts at $19/month vs Xero at $15/month, but Hengo's Growth plan ($59) includes what Xero's Established plan ($42) offers, plus IVA and AI parsing.
What you keep from Xero
Hengo has all the core accounting features you are used to in Xero: double-entry ledger, chart of accounts, bank reconciliation, invoicing, expense tracking, financial reports, project tracking, and multi-currency. The transition is straightforward — import your chart of accounts and transactions via CSV.
When to stay with Xero
Xero may still be the right choice if you depend on a specific third-party integration from Xero's 1,000+ app marketplace, if you operate in countries outside North America, or if you need integrated payroll with tax filing in multiple countries.
For a detailed comparison, see our Hengo vs Xero comparison page.
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