The company's announcement indicated the inventory capabilities can handle those with basic needs while the product links to software companies in its Add-On Marketplace for busiensses with more complex operations.

With Online Quotes, small businesses can create quotes and estimates within Xero in real-time from any device. Practice Reports, launching initially in New Zealand, enables accountants to perform customized reporting on client accounts. The feature will be introduced next in Australia and later in the United Kingdom and the United States.

Side-by-Side Files enables users to see documents such as receipts and bills while entering data into the accounting software. The company also said it had introduced 1,692 new bank feeds, bringing the bank feed total to more than 7,000 and more than 5,000 financial institutions.

All features are included in Xero's $9-per-month subscription. Xero: www.xero.com