What users are saying about
<a href='https://www.trustradius.com/static/about-trustradius-scoring#question3' target='_blank' rel='nofollow noopener'>Customer Verified: Read more.</a>
Top Rated
565 Ratings
35 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow noopener'>trScore algorithm: Learn more.</a>
Score 8.1 out of 100

Xero

<a href='https://www.trustradius.com/static/about-trustradius-scoring#question3' target='_blank' rel='nofollow noopener'>Customer Verified: Read more.</a>
Top Rated
565 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow noopener'>trScore algorithm: Learn more.</a>
Score 8.7 out of 100

Feature Set Ratings

  • Xero ranks higher in 4 feature sets: Security, Reporting & Analytics, General Ledger and Configurable Accounting, Customization

Security

4.6

Dext Prepare (with Receipt Bank)

46%
8.6

Xero

86%
Xero ranks higher in 2/2 features

Single sign-on capability

3.4
34%
2 Ratings
8.8
88%
72 Ratings

Role-based user permissions

5.9
59%
4 Ratings
8.4
84%
114 Ratings

Reporting & Analytics

6.0

Dext Prepare (with Receipt Bank)

60%
8.2

Xero

82%
Xero ranks higher in 3/3 features

Dashboards

5.6
56%
5 Ratings
8.0
80%
129 Ratings

Standard reports

6.4
64%
4 Ratings
8.7
87%
132 Ratings

Custom reports

N/A
0 Ratings
7.9
79%
121 Ratings

General Ledger and Configurable Accounting

5.0

Dext Prepare (with Receipt Bank)

50%
8.1

Xero

81%
Xero ranks higher in 21/21 features

Accounts receivable

6.5
65%
4 Ratings
8.7
87%
131 Ratings

Bank reconciliation

5.3
53%
3 Ratings
8.9
89%
137 Ratings

Expense management

6.8
68%
5 Ratings
8.1
81%
125 Ratings

Multi-currency support

5.3
53%
3 Ratings
8.2
82%
82 Ratings

Multi-division support

3.4
34%
2 Ratings
7.6
76%
74 Ratings

Regulations compliance

5.2
52%
3 Ratings
8.3
83%
67 Ratings

Self-service portal

5.2
52%
3 Ratings
7.8
78%
80 Ratings

Global Financial Support

3.4
34%
2 Ratings
8.2
82%
36 Ratings

Intercompany Accounting

5.2
52%
3 Ratings
7.4
74%
40 Ratings

Localizations

3.4
34%
2 Ratings
8.2
82%
40 Ratings

Accounts payable

N/A
0 Ratings
8.7
87%
130 Ratings

Cash management

N/A
0 Ratings
8.1
81%
121 Ratings

Time tracking

N/A
0 Ratings
6.9
69%
42 Ratings

Fixed asset management

N/A
0 Ratings
7.2
72%
86 Ratings

Electronic tax filing

N/A
0 Ratings
8.3
83%
65 Ratings

Primary and Secondary Ledgers

N/A
0 Ratings
7.7
77%
34 Ratings

Journals and Reconciliations

N/A
0 Ratings
8.7
87%
89 Ratings

Enterprise Accounting

N/A
0 Ratings
7.4
74%
33 Ratings

Configurable Accounting

N/A
0 Ratings
8.3
83%
59 Ratings

Centralized Rules Framework

N/A
0 Ratings
8.1
81%
33 Ratings

Standardized Processes

N/A
0 Ratings
8.5
85%
59 Ratings

Customization

4.4

Dext Prepare (with Receipt Bank)

44%
7.7

Xero

77%
Xero ranks higher in 2/2 features

Plug-ins

4.4
44%
3 Ratings
8.1
81%
85 Ratings

API for custom integration

N/A
0 Ratings
7.3
73%
78 Ratings

Payroll Management

Dext Prepare (with Receipt Bank)

Feature Set Not Supported
N/A
8.3

Xero

83%
Xero ranks higher in 5/5 features

Pay calculation

N/A
0 Ratings
8.1
81%
64 Ratings

Benefit plan administration

N/A
0 Ratings
8.2
82%
23 Ratings

Direct deposit files

N/A
0 Ratings
8.9
89%
49 Ratings

Salary revision and increment management

N/A
0 Ratings
8.9
89%
41 Ratings

Reimbursement management

N/A
0 Ratings
7.6
76%
54 Ratings

Inventory Management

Dext Prepare (with Receipt Bank)

Feature Set Not Supported
N/A
6.8

Xero

68%
Xero ranks higher in 4/4 features

Inventory tracking

N/A
0 Ratings
6.1
61%
60 Ratings

Automatic reordering

N/A
0 Ratings
7.3
73%
24 Ratings

Location management

N/A
0 Ratings
7.7
77%
29 Ratings

Manufacturing module

N/A
0 Ratings
6.3
63%
16 Ratings

Order Management

Dext Prepare (with Receipt Bank)

Feature Set Not Supported
N/A
7.7

Xero

77%
Xero ranks higher in 7/7 features

Pricing

N/A
0 Ratings
7.3
73%
61 Ratings

Order entry

N/A
0 Ratings
7.8
78%
56 Ratings

Credit card processing

N/A
0 Ratings
8.6
86%
57 Ratings

Cost of goods sold

N/A
0 Ratings
8.1
81%
65 Ratings

Order Orchestration

N/A
0 Ratings
7.4
74%
21 Ratings

End-to-end order visibility

N/A
0 Ratings
7.4
74%
24 Ratings

Order exception Resolution

N/A
0 Ratings
7.5
75%
17 Ratings

Attribute Ratings

  • Xero is rated higher in 4 areas: Likelihood to Recommend, Likelihood to Renew, Usability, Support Rating

Likelihood to Recommend

7.0

Dext Prepare (with Receipt Bank)

70%
10 Ratings
8.8

Xero

88%
155 Ratings

Likelihood to Renew

8.2

Dext Prepare (with Receipt Bank)

82%
1 Rating
9.3

Xero

93%
29 Ratings

Usability

6.5

Dext Prepare (with Receipt Bank)

65%
6 Ratings
8.9

Xero

89%
80 Ratings

Availability

Dext Prepare (with Receipt Bank)

N/A
0 Ratings
9.0

Xero

90%
20 Ratings

Performance

Dext Prepare (with Receipt Bank)

N/A
0 Ratings
10.0

Xero

100%
16 Ratings

Support Rating

5.3

Dext Prepare (with Receipt Bank)

53%
8 Ratings
7.4

Xero

74%
37 Ratings

In-Person Training

Dext Prepare (with Receipt Bank)

N/A
0 Ratings
9.1

Xero

91%
1 Rating

Online Training

Dext Prepare (with Receipt Bank)

N/A
0 Ratings
10.0

Xero

100%
5 Ratings

Implementation Rating

Dext Prepare (with Receipt Bank)

N/A
0 Ratings
9.5

Xero

95%
18 Ratings

Configurability

Dext Prepare (with Receipt Bank)

N/A
0 Ratings
9.0

Xero

90%
1 Rating

Ease of integration

Dext Prepare (with Receipt Bank)

N/A
0 Ratings
8.0

Xero

80%
54 Ratings

Product Scalability

Dext Prepare (with Receipt Bank)

N/A
0 Ratings
10.0

Xero

100%
6 Ratings

Vendor post-sale

Dext Prepare (with Receipt Bank)

N/A
0 Ratings
9.0

Xero

90%
2 Ratings

Vendor pre-sale

Dext Prepare (with Receipt Bank)

N/A
0 Ratings
10.0

Xero

100%
2 Ratings

Likelihood to Recommend

Receipt Bank

It is great for accounting firms. Easy to add and administer client accounts. Easy to integrate with QuickBooks Online. Easy for clients to capture and submit receipts on the go. It is hard to use for manual data entry, and if your clients frequently have very long receipts the Dext Mobile app does not work well as it compresses the image to the point where it is completely illegible. It does not seem to be designed for business owners to use directly rather than using it through their accounting firm.
Read full review

Xero

Xero is a 10-point software since it streamlines accounting and financial processes with great agility, generating immediate productivity. I recommend using all its features since, from creating reports to paying bills, the whole process is easy and does not require much knowledge. We can use it remotely with our phones and still build fluidity, plus it can be integrated with Salesforce, building even more power for short-term results.
Read full review

Pros

Receipt Bank

  • Receipt Bank does a stellar job of extracting information from photos of receipts and bills. I'd say 95% of the time the information pulled is correct, so very rarely do I have to correct an amount or date.
  • One feature I really enjoy is not only the syncing with Quickbooks Online, but the fact that it also pushes the image to Quickbooks Online as an attachment! This means that for every expense/bill processed through Receipt Bank, an image of it is available inside of the transaction inside of Quickbooks Online. This makes researching a breeze.
  • Receipt Bank makes it very simple for users to add documents to the platform. Each company receives a dedicated Receipt Bank email address, which they can email to and upload documents, or users can use the phone apps (which are really easy to use), or they can upload documents from their computer. Training our clients to use it really can't be any easier!
Read full review

Xero

  • Reporting (customizing look and contents and the ability to add multiple comparative periods is brilliant and not found in many other competitors.
  • Bank feeds. The way they organize bank feed and subsequent matching or coding is very user-friendly for non-accountants and fast for accountants.
  • Can file VAT returns and is MTD compliant in UK.
  • Customer support has been helpful (at least in my experience).
Read full review

Cons

Receipt Bank

  • Receipt Bank Practice Platform has many great features. As they develop the platform I would like to see a rigorous review of all features so as not to add too many and overwhelm my team.
  • Having the flexibility to pick and choose from a suite of features and implement the ones that best suit my practice. A tailor made Receipt Bank Practice Platform. this would allow my practice to grow into the features rather than be overwhelmed by too many.
Read full review

Xero

  • Overall it is a great platform and quite comprehensive for US based users.
  • However, if we focus on multinational companies that want to integrate the information of different companies in several countries within the same solution, we find the need to carry out reports outside the platform to provide the accounting structure and compliance necessary in countries outside the US.
Read full review

Pricing Details

Dext Prepare (with Receipt Bank)

Starting Price

Editions & Modules

Dext Prepare (with Receipt Bank) editions and modules pricing
EditionModules

Footnotes

    Offerings

    Free Trial
    Free/Freemium Version
    Premium Consulting/Integration Services

    Entry-level set up fee?

    No setup fee

    Additional Details

    Xero

    Starting Price

    $11 per month

    Editions & Modules

    Xero editions and modules pricing
    EditionModules
    Early111
    Growing322
    Established623

    Footnotes

    1. per month
    2. per month
    3. per month

    Offerings

    Free Trial
    Free/Freemium Version
    Premium Consulting/Integration Services

    Entry-level set up fee?

    No setup fee

    Additional Details

    Likelihood to Renew

    Receipt Bank

    Dext is the best way for us to manage our business expenses. Physical and PDF receipts/invoices will be around for a while, but the move to eInvoicing is very good and we look forward to Dext adding this feature
    Read full review

    Xero

    In addition to the matters covered in this review, my reason for renewing this product is that Xero's functionality and the constant updates that the company provides, makes the software even more business friendly. The software therefore builds a brand loyalty among customers.
    Read full review

    Usability

    Receipt Bank

    Dext Prepare's usability is great, it has lots of functions and you can scan any type of document, including hard copy handwritten documents. It is not very accurate but it is handwritten!! Apart from it, you can use multiple functions like one page at a time, multiple, in bulk. You can send emails with multiple attachments and one of the greatest function is the mobile application capabilities.
    Read full review

    Xero

    It has deep functionality, and it's easy to use for invoicing, quoting, financial reporting, and customer management. This product manages financial information for small business owners in a unique way. The phone interface is really good as well-meaning I can keep on top of the finances on my phone and feel confident about the financial decisions I'm making.
    Read full review

    Reliability and Availability

    Receipt Bank

    No answers on this topic

    Xero

    We have been actively using and 100% Xero based for our ecommerce accounting practice for over 4 years. There has on been one real outage for more than 5 minutes. Xero was open and transparent about the outage, what they were doing to resolve the issue, and provided 15 minute updates. Showing how they care about their customers and partners. Plus, showing that their customers care too, were understanding, and went surfing or in our case took a nap. Couldn't run our business without Xero as a partner.
    Read full review

    Performance

    Receipt Bank

    No answers on this topic

    Xero

    Pages generally load quickly, but it's a fairly common occurrence to have pages taking a bit longer than I'd like to load (as in, 4+ seconds). Occasionally I have to refresh a page to get it to work. Bank feed and integrations tend to be slow in general, but that could easily be due to API latency on the side of the other parties. Most of the time, though, the bank feeds refresh before I login so it's not a huge problem. Not necessarily good performance compared to a local app like QuickBooks desktop, but definitely good performance for a cloud application. Room for growth? yes.
    Read full review

    Support Rating

    Receipt Bank

    Never used the support function. I guess that means it’s easy to use and works well because I never had an issue in 3 years. Not sure if the support team is helpful.
    Read full review

    Xero

    Support has always been responsive and quickly resolved any questions I have. The only reason I don't give full points is because there's no way to call for immediate help. I'm fine with this because I don't need it badly enough to pay for it
    Read full review

    In-Person Training

    Receipt Bank

    No answers on this topic

    Xero

    The format was great; someone was there to ask questions or help if you were stuck.
    Read full review

    Online Training

    Receipt Bank

    No answers on this topic

    Xero

    All of Xero's training is online and available for anyone (business owner or accountants) to learn and become experts in their system. There is a range of content from product training to real world webinars from their partners. Xero is beautiful accounting software and their training is the same.
    Read full review

    Implementation Rating

    Receipt Bank

    No answers on this topic

    Xero

    If it can be done, time the implementation near a new fiscal year so you can start clean. Otherwise, you have to go back and do historical data from the beginning of the fiscal year, which can be brain draining.
    Read full review

    Alternatives Considered

    Receipt Bank

    Receipt Bank is superior to Wave in terms of its accuracy of reporting and allocating expenses. Even though there is a fee for Receipt Bank and Wave is free, the monthly fee for Receipt Bank is well worth the money, given the benefits
    Read full review

    Xero

    Solely the ease of use. This has saved me so much time on day-to-day tracking it is astonishing. Not only does it make it super easy to send invoices, but it also makes it easy to print invoices off, eases the process of partial payments, and keeps good track of all notes made to the account.
    Read full review

    Scalability

    Receipt Bank

    No answers on this topic

    Xero

    I have yet to fully stress test the product given the size of the company where I am using it. I am sure as we scale to more customers, more vendors and more reporting requirements, I will have a better understanding of what it is capable of in terms of bandwidth and processing
    Read full review

    Return on Investment

    Receipt Bank

    • Helps to keep data consistent and accurate
    • Saves time in processing invoices and receipts
    • Saves time in reconciliation in our accounting package
    Read full review

    Xero

    • Xero helps to [minimize] payroll errors, saving the business money[.]
    • Tracking cost of goods is very easy which means that controlling expenses is easy[.]
    • It's extremely easy to pull up all key financial data to get both broad and specific snapshots of the business's financial health[.]
    Read full review

    Screenshots

    Add comparison