Xolo vs Ruul: Which Freelancer Invoicing Platform is Best?

Xolo Go uniquely offers the option to transition from freelancing to full business ownership through Estonia's e-Residency program. Freelancers can upgrade their Xolo Go account to a Xolo Leap one, facilitating the setup of a European LLC fully remotely for under €500. This service is augmented by comprehensive support including company registration, compliance, recordkeeping, and tax reporting. Ruul does not provide any company incorporation services, limiting freelancers who might consider evolving their freelance activity into a registered business.

Whether you’re a seasoned freelancer or just starting out on the side, figuring out your invoicing process will be a big task. You’ll want to get paid fast and without crippling fees. And there are also compliance and tax reporting requirements to keep in mind.

Invoicing apps like Xolo Go and Ruul reduce the costs and complexities of getting paid internationally. Today you’ll hopefully gain more insight on which product would best suit your needs. 

Benefits of using an invoicing tool 

Invoicing freelance clients can be the best and the worst kind of experience. Without good invoicing software, getting hard-earned cash into your bank account can be a tax and compliance nightmare — especially if you’re doing business globally. 

A user-friendly invoicing platform helps: 

• Streamline document generation. Create professional invoices in several clicks using premade, customizable templates. 
• Quicken payments. Get paid faster with integrated online payment processing tools for instant client payment collection. 
• Reduce errors. Avoid manual data entry to avoid mistakes in invoice numbering, pricing, taxes and discounts.  
• Maintain compliance. Maintain clear records for easier bookkeeping and tax reporting purposes. 

Feature Comparison

To help you better understand the offerings of Xolo Go and Ruul.io, let's break down their core features in a comparison table:

Why Xolo Go is the best alternative to Ruul 

Xolo Go and Ruul enable independent workers to legally invoice clients like a company without registering one. 

Xolo Go, however, offers access to a wider range of features, ranging from in-built cash flow analytics to automatic invoice payment reminders. Moreover, you can benefit from a fixed flat-rate commission and some cool add-on services. 😎

Claim business expenses 

Banking fees, business software or even a new laptop — these are all examples of deductible business expenses for freelancers.

Pay for operational expenses out-of-pocket, then reimburse yourself with business funds to legally reduce your tax bill and avoid stretching your personal budget. 

With Xolo Go, you can easily upload all your receipts, going up to 2 months backward, and get auto-reimbursed to your personal account. We also keep neat transactional records of all the in-and-out money flows, which you can download anytime and share with your accountant. 

Since Ruul doesn’t provide freelancers with a business bank account at present, you cannot claim and reimburse expenses via their invoicing app. 

Predictable commission 

Unlike other popular invoicing apps, Xolo Go and Ruul don’t have any account setup or monthly subscription fees. So that’s one less expense to budget for! But each provider charges a commission on each processed payment. 

With Xolo Go, you need to remember just two numbers:

• 5.9% — a flat-rate fee we charge on every payout to your personal bank account. This means we get paid only when you do. You don’t have to worry about covering any fees before the money hits your account. 😎
• 1.9% — an extra card payment processing fee, taken out of each client invoice, paid by a debit or credit card (e.g., Visa, Mastercard, AmEx). 

The fees are set in stone and don’t depend on the payout currency, invoice total or the client’s location. So you can easily budget for these or even pass them on to your clients by including these in your freelance rates. 

Ruul pricing is more complex with variable rates based on currency exchange pairs, client’s and freelancer’s bank account locations and payment method. 

For example, the effective commission rate is 6.9% for a £250 invoice from an India-based freelancer to a UK-based business. That said, commission for same-currency invoices (e.g., EUR to EUR) can be as low as 4%.

Also, unlike Xolo Go, Ruul has a minimum invoice size of €100, which makes it less suitable for test or small-scale projects. 

You can estimate the fees upfront using an on-site calculator, which is convenient. Still, this is some extra math you have to do to figure out if Ruul invoicing software is worth using for every project. 

Upgrade to a registered company by switching the plan

Xolo Go lets you invoice like a legal entity without operating one. 

But should you ever decide to switch from part-time freelancing to full-time business ownership, we will still have your back! 

You can easily convert your Xolo Go account to a Xolo Leap one. Xolo Leap is our human-led and software-augmented service for easy company incorporation and management via the Estonian e-Residency program. 

With Xolo Leap, you can set up a European LLC for under €500 and run it from anywhere on the planet, fully remotely. Our world-class accounting team will support you at every stage — from company registration to ongoing compliance, recordkeeping, and tax reporting. 

Although Ruul is a fellow Estonian business 🇪🇪, they don’t offer any company incorporation services at present. 

Questions and answers about Xolo Go vs Ruul

How does Xolo Go compare to Ruul in terms of global reach and eligibility for freelancers worldwide?
Xolo Go offers its services to freelancers in over 160 countries, providing a broader global reach compared to Ruul, which serves freelancers in 150 countries. This wider eligibility makes Xolo Go accessible to a larger audience of freelancers looking for invoicing solutions and international payment collection.

What are the key differences in transaction fees and payout times between Xolo Go and Ruul, and how might these impact freelancers' cash flow?

Xolo Go charges a flat-rate fee of 5.9% on every payout to a freelancer's personal bank account, plus a 1.9% card payment processing fee on each client invoice paid by debit or credit card. Payouts to bank accounts are completed within one working day. Ruul's fees start from 2.75% with variable charges for SWIFT transactions, and the average payout time to a bank account is 18 hours. The higher, fixed fees of Xolo Go might be easier to budget for, whereas Ruul's variable fees could potentially offer cost savings under certain conditions but add complexity to financial planning.

How does the option to incorporate a company through Estonia's e-Residency program with Xolo Go enhance its offering compared to Ruul's services?

Xolo Go uniquely offers the option to transition from freelancing to full business ownership through Estonia's e-Residency program. Freelancers can upgrade their Xolo Go account to a Xolo Leap one, facilitating the setup of a European LLC fully remotely. This service is augmented by comprehensive support including company registration, compliance, recordkeeping, and tax reporting. Ruul does not provide any company incorporation services, limiting freelancers who might consider evolving their freelance activity into a registered business.

In what ways can freelancers benefit from Xolo Go's feature of automatic invoice payment reminders and recurring invoices over Ruul's offerings?

Xolo Go supports automatic invoice payment reminders and the creation of recurring invoices, which significantly eases the invoicing process and ensures timely payments from clients. This automation can save freelancers substantial time and effort, reducing the administrative burden and improving cash flow consistency. Ruul does not offer recurring invoices, which could result in a more time-consuming process for freelancers who bill the same clients regularly.

About Elena

Elena Prokopets writes content for tech-led companies & software development businesses, marketing to them. Her empathy for the customer, expertise in SEO, and knack for storytelling help create content that ranks well and drives industry conversations.

Elena uses Xolo so she can focus on her solo B2B content writing business without stressing over the compliance and admin overhead.