We built our accounting firm on Xero--best in class SMB accounting software
Updated May 22, 2015
We built our accounting firm on Xero--best in class SMB accounting software
Score 9 out of 10
Vetted Review
Overall Satisfaction with Xero
We're using Xero for accounting for over 90% of our clients. It is a full double entry general ledger accounting product, so it does just about everything we need from a GL perspective. As a platform, Xero integrates with hundreds of add-ons, allowing us to customize a suite of apps to improve business processes for our clients.
- Catch-up bookkeeping, AKA "write-up". Xero makes it really easy to import bank statements from Excel files, then reconcile those transactions quickly, even for multiple years of data. This is a huge benefit for our bookkeepers.
- Collaborative accounting. Xero is easy to learn and use for non accountants. This allows us to divide work between our client accounting services department and our clients, which increases efficiency, lowers the cost, and improves visibility for our clients.
- Integrations. Xero integrates really well with hundreds of third party apps and tools. You can even write your own integration.
- Xero's mobile apps are a good start, but could use more functionality, such as being able to access reports or run payroll. The good news is that the web app itself works on iPad, so you can log in through Safari and get what you need. Still, other accounting apps are ahead of Xero in this department.
- Payroll is limited (as of May 2015) to a handful of states and is rolling out to more gradually. Scroll to the bottom of this page to see where payroll is available: https://www.xero.com/us/accounting-software/payroll/
- Customizable reports. Xero is rolling out a new reporting engine which offers greater flexibility, but it is not yet complete. Make sure that the reports available in Xero will meet your needs.
- Demand for Xero trained accountants and bookkeepers has been key to our growth. Our business was started on Xero and has benefited greatly from interest in Xero from customers dissatisfied with QuickBooks.
- The practice management tools provided by Xero make it easy to delegate and restrict access to client files to only the staff who need to have access. This increases efficiency and security.
- Xero's support for accounting firms is great. We have a dedicated account rep who can step in and get problems solved for us very quickly.
- QuickBooks Online,QuickBooks Premier,QuickBooks for Mac,QuickBooks Pro,QuickBooks Enterprise Solutions,LessAccounting,Accounting by Wave
Xero is the superior product from both a design and engineering perspective. While there are specific features unique to each solution that may make one product a better fit for a particular company, Xero wins overall. It has practice management tools [which are] completely missing in QuickBooks Online and other online accounting platforms.
- 76% to 99% of clients