TL;DR
- Plans run US$7 (Lite) to US$75 (Premium) a month. In September 2026 new Hong Kong customers were offered 80% off for the first three months.
- Multi-currency requires Premium. If you deal in more than one currency, that settles the plan choice.
- Xero retired Pay Run in April 2026. There's no built-in Hong Kong payroll: use a connected app or have your accountant run it.
- HSBC and Hang Seng have direct feeds, and Aspire and Airwallex have their own Xero integrations. Check Xero's list for other banks.
- Xero keeps the ledger. Statutory accounts, the audit and the profits tax return are separate work.
What it costs
Xero's Hong Kong plans are billed in US dollars. As of September 2026 the regular prices are US$7 a month for Lite, US$29 for Starter, US$50 for Standard and US$75 for Premium. New Hong Kong customers were being offered 80% off for the first three months. Xero changes prices and offers from time to time, so check the current page before you subscribe.
Lite caps you at five invoices and quotes a month. Starter allows 20 invoices and five bills. Standard removes those limits, and Premium adds multi-currency, which for a lot of Hong Kong companies is the feature that decides the plan.
Multi-currency
Hong Kong companies routinely invoice in USD, hold HKD and pay suppliers in RMB or EUR. Xero handles foreign currencies only on Premium. Airwallex and Aspire each have their own Xero integration that feeds transactions across by currency, so each balance reconciles on its own, but you still need Premium to record it. A multi-currency business that tries to get by on Standard ends up converting by hand, and that makes for a messy audit.
Payroll
Xero retired its Pay Run feature in April 2026, so there's no built-in Hong Kong payroll any more. Xero's Hong Kong payroll page tells you to integrate a third-party payroll app. The other route is for your accountant to run payroll outside Xero, including MPF and the IR56 forms, and post the journals. For a company with one or two employees, we find the second route is usually simpler.
Bank feeds
HSBC and Hang Seng have direct feeds, and Aspire and Airwallex each connect through their own Xero integration. Coverage at other banks, the smaller fintechs and the virtual banks varies, so check the list in Xero. In our experience a live bank feed saves more time than anything else in Xero, because reconciliation becomes a few minutes a week instead of a monthly catch-up.
What Xero does not do
Xero keeps the ledger. Statutory financial statements, the audit and the profits tax return all sit outside it. Under the Companies Ordinance the directors have to prepare financial statements for each financial year, and those have to be audited unless the company is dormant. A small private company that qualifies for the reporting exemption can prepare them under the SME reporting framework.
Someone still has to close the books, prepare the accounts, deal with the auditor's questions and file with the Inland Revenue Department. In practice that's your accountant, whether in-house or a firm, although the legal responsibility stays with the directors.
Setup decisions that matter
Start the chart of accounts from Xero's default and cut it down. As a rule of thumb a small company can run on around 40 accounts. Fix the financial year-end before you enter a transaction. December is common for companies with overseas parents, and 31 March lines up with the Hong Kong year of assessment. Both work, because the IRD assesses on the accounting year ending within the year of assessment. Changing it later is a nuisance.
Hong Kong has no VAT, GST or sales tax, so set everything to no tax at the start. If you don't, you'll spend a year deleting tax lines.
Tracking categories are worth setting up on day one if you have two revenue lines or two locations, because adding them later means recoding old transactions. On user access, give your accountant the adviser role, give staff who only raise invoices the invoice-only role, and keep bank rules and reconciliation with one person.
Xero with Peblx
Every Full-Service accounting plan includes a Xero subscription set up and connected to your bank feeds by us, with you as a user so you can see the numbers whenever you want. We do the monthly close and send management accounts, and at year-end the ledger goes straight to the auditor. Plans start at HK$5,800 a year for companies under HK$500K revenue. Companies on Basic accounting, under HK$300K revenue, get an annual close without a Xero subscription, since at that size a monthly ledger is more than you need.
