Xero vs BankSync
Tired of Xero's annual price hikes and limited reporting? BankSync syncs your bank data to Notion, Airtable, and Google Sheets—giving you flexible reporting and no vendor lock-in.
Xero vs BankSync: At a Glance
| Feature | BankSync | Xero |
|---|---|---|
| Destination Tools | NotionAirtableGoogle Sheets | Xero Only |
| Advanced Reporting | ✓ Fully Customizable | Limited (requires add-ons) |
| Pricing | $7/month 14-day free trial | $13-$70/month Annual price hikes |
| Data Portability | ✓ Your tools, your data | Locked in Xero |
| Investment Tracking | ✓ Full Support | Limited |
| Receipt Extraction | ✓ AI-Powered OCR | Basic features |
| Customization | ✓ Fully Customizable | Limited to Xero structure |
Why Users Switch from Xero to BankSync
Flexible Reporting
Xero has limited advanced reporting without expensive add-ons. BankSync gives you complete flexibility to build custom reports in Notion, Airtable, or Google Sheets—exactly what you need, without additional costs.
No Price Hikes
Xero users frequently experience annual price increases. BankSync offers transparent, stable pricing at $7/month without surprises. Predictable costs you can count on.
No Vendor Lock-In
Xero locks your data in their system. BankSync syncs to Notion, Airtable, or Google Sheets—your data lives in your tools, giving you complete control and the ability to switch tools anytime.
Better Investment Tracking
BankSync has comprehensive investment account support, syncing trades, holdings, and balances from brokerage accounts, as well as loan accounts (credit cards, student loans, mortgages). Xero has limited investment tracking capabilities.
More Affordable
At $7/month, BankSync costs significantly less than Xero ($13-$70/month). Get the same bank syncing capabilities with more flexible reporting at a better price.
No Add-Ons Required
Xero requires expensive add-ons for advanced reporting and features. BankSync gives you everything you need for flexible financial reporting without additional costs.
How to Migrate from Xero to BankSync
Export Your Xero Data
Export your transaction history and chart of accounts from Xero. This helps you recreate your financial structure in your chosen tool (Notion, Airtable, or Google Sheets).
Set Up Your Destination
Create your financial template in Notion, Airtable, or Google Sheets. Use our templates or build your own. Import your Xero chart of accounts to maintain consistency.
Connect Your Banks
Connect the same bank accounts you used in Xero. BankSync supports 10,000+ banks, so your accounts should connect seamlessly.
Configure Your Sync
Map your transaction fields to your financial template. Set up automatic syncing on your preferred schedule (daily, weekly, etc.).
Start Syncing
Your transactions will start flowing into your new system. You can run both systems in parallel during the transition to ensure everything is working correctly.
Note: BankSync is a data layer, not full accounting software. If you need invoicing, tax reporting, or other accounting features, you may still need accounting software. However, BankSync eliminates the need for Xero's bank feed features and gives you more flexible reporting.
Frequently Asked Questions: Xero vs BankSync
Is BankSync a good Xero alternative?
Yes, BankSync is an excellent Xero alternative if you want flexible reporting in Notion, Airtable, or Google Sheets. Unlike Xero which requires add-ons for advanced reporting, BankSync gives you complete control over your financial data and reporting structure.
Can I replace Xero with BankSync?
BankSync is not accounting software—it's a data layer that syncs your bank transactions, balances, and investment data to Notion, Airtable, or Google Sheets. If you need full accounting features like invoicing and tax reporting, you may still need accounting software, but BankSync eliminates the need for Xero's bank feed features and gives you more flexible reporting.
How does BankSync compare to Xero pricing?
BankSync costs $7/month, significantly less than Xero which ranges from $13-$70/month depending on the plan. BankSync focuses on data syncing and flexible reporting, while Xero includes full accounting features.
Does BankSync have better reporting than Xero?
BankSync gives you complete flexibility to build custom reports in Notion, Airtable, or Google Sheets. Xero has limited advanced reporting without expensive add-ons. With BankSync, you can create exactly the reports you need without additional costs.
Can I export my Xero data to BankSync?
Yes, you can export your transaction history from Xero and import it into your Notion, Airtable, or Google Sheets template. BankSync will then automatically sync new transactions going forward, eliminating the need for Xero's bank feed features.
Does BankSync avoid Xero's annual price hikes?
Yes, BankSync offers transparent, stable pricing at $7/month without the annual price increases that Xero users frequently experience. You get predictable costs with no surprises.
Ready to Leave Xero Behind?
Start your 14-day free trial and experience flexible reporting, stable pricing, and complete data portability with BankSync.
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