#1 most frequent
Australia
36.0%5,439 installations of 15,122
What is Xero?
Xero is an online accounting software product for small businesses and personal finance. Its features beyond general ledger and double-bookkeeping include quotable invoicing, bank reconciliation, purchase order and expense management, and tax management. Third party apps can extend its features further.
Categories & Use Cases
Media
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Top Performing Features
Pricing
Users can set up complex and unique pricing requirements.
Category average: 8
Order entry
Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.
Category average: 8
Intercompany Accounting
Automatically balance and reconcile GL for intercompany transactions
Category average: 8.2
Areas for Improvement
Manufacturing module
The software helps track and manage raw materials, work-in-progress items, and finished goods.
Category average: 6.6
Centralized Rules Framework
Integrate disparate ERP and transactional systems into single ERP instance
Category average: 7.7
Single sign-on capability
The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.
Category average: 8.5
Who Buys & Uses Xero
#2 most frequent
United States of America
20.9%3,167 installations of 15,122
#3 most frequent
United Kingdom of Great Britain and Northern Ireland
20.3%3,075 installations of 15,122
Pros
- Efficient bank reconciliation and transaction matching
- Streamlined invoicing, including recurring billing and quote conversion
- Accessible financial reporting for quick insights
Cons
- Limited depth and versatility in reporting customization
- General customization limitations for templates and dashboards
- Limited inventory management features
Smooth Accounting With Xero
Use Cases and Deployment Scope
Xero has been very resourceful when it comes to handling our business accounting needs including invoicing and managing all our accounts receivable and payable. It comes with automation features to boost accuracy and save time. With Xero, categorizing our business expenses has been easy and it also handles expense management where teams can scan and upload receipts for approval.
Pros
- Invoicing and quote is easy. Creating invoices, sending and tracking them is easy with this tool.
- It makes expenses tracking easy. Capturing receipts and uploading them for approval is fast.
- The bank reconciliation feature works well - Importing and matching bank transactions with statements is easy.
- It comes with payroll features that makes processing salaries easy.
- Reporting and analytics features are also very helpful.
Cons
- Slow reporting and this needs to be improved to make the tool better.
- It offers limited inventory tracking features.
Return on Investment
- With expenses management features and ease of categorizing expenditure, Xero ensures transparency.
- It comes with automation features thus boosting accuracy and this helps avoid costly financial errors while saving time.
- Reporting and analytics features helps in decision making.
Usability
Other Software Used
Zoho Forms, Webex Connect, Accounting Seed
Xero has been a great additional to our tech stack
Use Cases and Deployment Scope
We use it to manage our multiple business accounts, and reconcile transactions. We were using spreadsheets prior and it was hard to organize financial information for our bookkeeper. Also, we do internal organizational reviews. Xero makes it much easier to strategize and build a plan to implement. Overall Xero is intuitive and easy to manage which makes it helpful overall.
Pros
- Reconcile Transactions
- Organize multiple accounts in one place
- Easy to Navigate
Cons
- Auto reconcile is wrong sometimes
- Syncing broke and had to be reconnected
Return on Investment
- Reduced Errors
- More Consistent reporting
Usability
Alternatives Considered
QuickBooks Online
Other Software Used
HubSpot CRM, ClickUp, Twilio
Xero review
Use Cases and Deployment Scope
We are using Xero in our organisation for managing accounting and track errors in cash flow. Cash flow accounting, incurred expense, tax reporting, AP project and AR project. Timesheet updates, invoice posting, Bank reconciliation, vendor reconciliation. If we have NGOs related work we can track funds or donations very easily on cash basis and accrual basis. It is very time consuming and we can bulk upload the invoices at a time.
Pros
- Timesheet tracker
- Connect 800 banks at a time
- AP and AR bills and invoices tracker
- Payroll Reconciliation
- Bank reconciliation
Cons
- Payroll setup
- Pre built reports
- Donation and funds tracker
- Inventory Management
Return on Investment
- Positive - Reduced errors
- Negative - Training cost is very high
- Positive - Cash flow visibility
- Negative - Need cash flow support more
Usability
Alternatives Considered
Zoho Books, QuickBooks Desktop Enterprise, QuickBooks Online, FreshBooks and BILL
Other Software Used
Hubdoc, Shopify, Gusto, Sage Intacct
A Reliable Cloud Accounting Solution For Business
Use Cases and Deployment Scope
We are using Xero for all our business accounting needs and it has been a great addition to our business. It is a cloud platform that helps in automating our business bookkeeping as well as simplifying financial management. The tool ensures that we have a clear visibility of our cash flow, it handles invoicing, payroll, and business bills. The ability to integrate Xero with other apps including Salesforce and Expensify makes it irresistible.
Pros
- Automates most accounting processes to speed up processes while ensuring no human errors.
- Accessing Xero is easy no matter location or device as it is a cloud platform.
- It handles invoice, payroll, bookkeeping, and financial management easily.
- Supports integration with other apps including Expensify and Salesforce.
- It ensures data security and backup.
- Supports collaboration.
Cons
- Incorrect categorization of expenses leads to financial errors.
- Everthing else works fine.
Return on Investment
- With Xero, managing and handling our accounting is always easy.
- Thanks to reports and ease of expense reconciliation and categorization, we make best decisions.
- It handles financial management really well and the automation helps in ensuring error free accounting.
Usability
Other Software Used
Salesforce CRM Analytics, Expensify, Slack
Xero - the new QBO?
Use Cases and Deployment Scope
I had been using Xero for my business however, similar to QuickBooks, it has been declining in the recent past. There have been outages, errors and other issues. It seems like the more the companies try to improve their software, the more the products go downhill. The old adage, "If it ain't broke, don't fix it." should apply to all software products.
Pros
- user friendly
- easy reporting
- very customizable
Cons
- errors
- outages
- slowness
Return on Investment
- None. I have since moved all businesses out of Xero into other software.
- n/a
- n/a
Usability
Alternatives Considered
QuickBooks Online and QuickBooks Online Advanced
Other Software Used
QuickBooks Online, QuickBooks Online Advanced, Quickbooks Online Payroll, OnPay, Gusto
