What Is Xero?
Award-winning online accounting software designed for small business owners and accountants. Available on any computer or mobile device with an internet connection. Business finances and cashflow are updated in real time. Imports transactions from bank accounts. Unlimited user logins. Integrates with over 1,000 3rd-party business applications. Supports multiple currencies. Data is accessible through a single ledger, allowing accountants and clients to collaborate around finances.
Who Uses Xero?
All small and medium sized businesses and accounting & bookkeeping practices.
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Reviews of Xero
Sara
Xero is great since it simplifies the accounting reporting process
Comments: The ability to keep tabs on 1099 forms and information on subcontractors is a great addition. With many permission tiers, an online accounting software is a great asset. It's incredibly straightforward to switch jobs. The time-tracking features are fantastic. Because of its user-friendliness and simplicity, Xero is a breeze to train new employees on.
Pros:
That Xero streamlines the process of generating financial reports like P&Ls and balance sheets is a major plus in my book. Cash flow can be monitored and controlled with little effort. This application is helpful since it makes it simple to keep tabs on and organize spending. Xero appears to make the task of reconciling bank accounts much less complicated.
Cons:
The use of tracking categories is a necessary evil in the projects module. It would be great if the projects section was integrated with other apps, such as Expensify. Having various rate cards within the projects section would also be helpful.
Courtney
It's a lot more fun to do accounting now
Comments: We can now monitor developments and spot patterns with ease. Superannuation contributions can be made straight from Xero, saving time and reducing the risk of missing any important deadlines. In general, Xero makes it easier to handle your financial accounts.
Pros:
We maintain track of all of our financial transactions, including payroll and cash flow, with the help of Xero. It greatly improved the bookkeeping's organization and clarity and made the process easier to handle. It takes a lot of the mystery out of keeping books and gives us quick access to vital financial statistics.
Cons:
For no apparent reason, bank feeds may lose connection at times. Possibly more visually appealing than mere numerical statistics would be the addition of accompanying graphical charts.
Thomas
Xero - Simple accounting software for small businesses
Comments: Xero allows us to run our accounts and manage staff expenses very simply and quickly. Overall it is a very easy system to use and has cut down a considerable amount of admin time. Overall it is positive, however, you can get caught out with the add on's needed to raise it from a very basic software.
Pros:
The interface is very simplistic. The headings are very clear and the day to day using of the software is very easy to teach to new staff. The expenses app allows individual staff members to load their own documents cutting down admin time considerably.
Cons:
A lot of the figures that you would like to see at quick glance like total spend with each supplier are not immediately apparent unless you run the correct search.
Phillip Sinothi
Alternatives Considered:
XERO: The all-in-one accounting solution
Comments: Xero is a comprehensive and user-friendly accounting software that offers a wide range of features for small and medium-sized businesses to efficiently manage their finances, automate accounting tasks, and gain insights from financial reports.With its automation features, Xero can help businesses save time and reduce manual errors, it also offers a wide range of features such as invoicing, expense management, receipt management and financial reporting, this allows for a more streamlined and efficient accounting process.However, like any software, it has some limitations, such as limited inventory management, and limited customization options, depending on the specific requirements of a business, these limitations may or may not be a significant issue. Therefore, businesses should thoroughly evaluate Xero's features and how they align with their specific needs before making a decision.
Pros:
Automation and EfficiencyXero offers a wide range of automation features such as bank reconciliation, automated invoicing, receipt management and an efficient expense management system which can help businesses to save time and reduce manual errors. Comprehensive Financial ReportingXero provides a wide range of pre-built financial reports such as balance sheets, income statements, and cash flow statements, which can help businesses to understand their financial performance, and make data-driven decisions.
Cons:
Limited inventory management Xero does offer some inventory management capabilities, such as tracking stock levels and generating reports, it does not have as many features as some dedicated inventory management software. So, for businesses that need advanced inventory management capabilities, Xero might not be the best option.Limited customization options.For example, some advanced features such as customizing financial reports and creating custom fields are only available on the higher-tier plans.
Jessica
Xero has helped me streamline my process!
Comments: My overall experience has been a game changer, the support from the customer service team has been wonderful and I have been able to use help documents to help me ensure I understand the product fully. I like the employee portal, and my employees have given positive feedback about the product too.
Pros:
I love the easy user interface. I like being able to see expenses, incomings and outgoings. Entering employees details in is simple, with little help notes along the way. I find the support team excellent, I have called and been able to use support from my accountant who can also link with my XERO system. My employees have their own logins and portal that they can submit leave requests.
Cons:
I do not think there is anything I dislike about the product now, for 1 year I have been using it and I have not found any dislikes yet.
