Hengo vs Xero: which is better in 2026?
Hengo and Xero are both cloud-based double-entry accounting platforms with multi-currency support. Hengo is built specifically for businesses operating across Canada, the US, and Costa Rica. Xero is a global platform with a large app marketplace. This comparison is honest about where each tool wins.
Last updated: September 2026
| Feature | Hengo | Xero |
|---|---|---|
| Starting price (monthly) | $19 | $15 |
| Multi-currency (CAD/USD/CRC) | ✓ All plans | ✓ Established plan ($42/mo) |
| Costa Rican IVA support | ✓ Native | ✗ Not supported |
| GST/HST/QST by province | ✓ Automatic | ✓ Manual tax rates |
| AI receipt parsing | ✓ Included | ✓ Hubdoc (add-on) |
| Crypto accounting | ✓ Professional plan | ✗ Third-party only |
| Engagement letters & e-signatures | ✓ Professional plan | ✗ Not available |
| Bank reconciliation | ✓ All plans | ✓ All plans |
| Double-entry ledger | ✓ All plans | ✓ All plans |
| Project tracking | ✓ Growth plan | ✓ Established plan |
| API access | ✓ Professional plan | ✓ All plans |
| Free trial | 14 days, no card | 30 days |
| Languages | EN, FR, ES | EN, FR, ES |
Where Hengo wins
Costa Rican IVA: Hengo natively handles IVA (13%) and facturación electrónica. Xero does not support Costa Rican tax compliance at all. If your business operates in Costa Rica, Hengo is the only option of the two.
Multi-currency on every plan: Hengo includes CAD/USD/CRC multi-currency on all plans starting at $19/month. Xero requires the Established plan ($42/month) for multi-currency.
AI receipt parsing included: Hengo includes AI-powered receipt and document parsing on all plans. Xero offers Hubdoc for receipt capture but it is an add-on.
Crypto accounting: Hengo's Professional plan includes crypto wallet tracking and cost basis calculation. Xero does not support crypto accounting natively.
Engagement letters: Hengo includes engagement letter creation and client e-signing on the Professional plan. Xero does not offer this feature.
Where Xero wins
App marketplace: Xero has 1,000+ third-party app integrations. Hengo has a growing but smaller ecosystem.
Global reach: Xero supports more countries and currencies than Hengo, which focuses on Canada, the US, and Costa Rica.
Payroll: Xero offers integrated payroll in several countries. Hengo has payroll tracking but does not file taxes directly.
Brand maturity: Xero is a publicly traded company with over 3 million subscribers worldwide. If your accountant is deeply familiar with Xero, there may be a learning curve switching to Hengo.
Who should choose Hengo?
Choose Hengo if your business operates in Canada, the US, or Costa Rica (or across multiple countries), needs multi-currency accounting without paying extra, wants AI-powered receipt parsing included, or needs crypto accounting and engagement letters. Hengo is also the better choice if you need Costa Rican IVA support, which Xero does not offer.
Choose Xero if you need a large ecosystem of third-party integrations, operate in countries outside North America, or need integrated payroll with tax filing.
Frequently asked questions
Is Hengo cheaper than Xero?
Yes. Hengo starts at $19/month with multi-currency included on all plans. Xero starts at $15/month for the Starter plan but charges $42/month for the Established plan that includes multi-currency. Hengo's Growth plan at $59/month includes everything Xero's Established plan offers, plus AI receipt parsing and Costa Rican IVA support.
Does Xero support Costa Rican IVA?
No. Xero does not natively support Costa Rican IVA or facturación electrónica. If your business operates in Costa Rica, Hengo is the better choice. Xero handles US and Canadian taxes but not Costa Rican tax compliance.
Can I migrate from Xero to Hengo?
Yes. Hengo supports importing transactions, invoices, contacts, and chart of accounts from CSV files exported by Xero. Our team can assist with the migration process.
Does Hengo have a project tracking feature like Xero's?
Yes. Hengo's Growth and Professional plans include project tracking with profitability analysis, budget tracking, and billable hours — comparable to Xero's Projects feature.