Xero is an online accounting software platform for small businesses and their advisors, as well as for personal finance. Xero competes most often with QuickBooks Online. Its features, beyond the ubiquitous general ledger and double-entry bookkeeping support, include invoicing with quotes, bank reconciliation, purchase order and expense management, tax management, and it is mobile-accessible. Xero integrates with over 800 third-party applications, covering everything from inventory and logistics to cash flow, project management, customer relationship management, e-commerce and more.
The product is sold by subscription (a distribution model commonly known as software as a service or SaaS) requiring the payment of a monthly fee. This charge is proportionate to the number (and type) of company entities managed by the subscriber. The lowest tiered pricing option is the $9 per month Starter pack, which supports unlimited users but a limited number of transactions. The $30 Standard pack breaks open usage limits and adds e-filing and payroll options. The $70 Premium package doubles the number of supported employees on payroll from 5 to 10, and supports multiple currencies.
Xero is beautiful accounting software for small businesses and their advisors. See your cashflow in real-time with online accounting, invoicing, payroll, billing & banking. Just login and see the difference. Sign up for a free trial at https://www.xero.com/signup/
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.
Renewal won't be a question for my company. Xero--with our 12 month run thus-far--has proven to be reliable, capable, and idiot proof. I rely heavily on value brought to the consumer, this is no exception. I look forward to many years of working with Xero. And in those many years making and breaking company goals with Xero behind the scenes.
It is very intuitive and easy to use so minimal training time is needed, and this means that if key staff are off for any reason, the invoices can still go out which is very important to us a as a small business.
Visibility of key issues is very clear so management can login and see things for themselves, rather than having to ask staff for reports. It's great that multiple people across the business can login and see an up to date picture of the finances.
We will definitely continue to use and support Xero. It is constantly being improved and upgraded and gets better and better as time goes on. It seems very likely that Xero will be a major player in the small business accounting world for the foreseeable future. It's affordable pricing and ease of use make it an excellent choice for most small businesses and organizations.
For what it is, I do and will highly recommend Xero to others and thus I give it 10/10 to reflect that. BUT - it of course does not suit every business or organisation all the time. So, my 10/10 comes with the caveat, that the reader has considered what their business information needs are and whether Xero's simplicity (and integrated products) will be what they need.
I have researched other options to Xero in the last year, but have no intent of moving away from it at this time, or for the foreseeable future. This aspect of my business works well, and I see no advantages in changing it.
We are currently implementing an end-to-end business services automation package, and this will integrate with Xero via a third party integration.
Xero is a good product and I believe with enhancements it will continue to improve so it will be more competitive with other products on the market. As the clients comfort level with Xero increases the more likely they will be to renew. Generally speaking folks don't like change, so if something is working there is no need to move their cheese.
Simplest answer - it works for us. For our own company, I don't think we are looking for any options other than Xero right now. Everyone in our company uses it - Finance uses it for bookkeeping and follow ups, Sales for quotes through to invoicing customers, we all use it for individual expense claims. So far so good! No reason to change.
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.
I don't really have more to add. It is simple, cost-effective, and does what we need it to do. It is rapidly improving to address the drawbacks, such as weak reporting. Besides, converting accounting software is a major project, and I would only do it if there was a compelling reasons.
Renewal really comes down to bottom line. If we saw an increase in attending to the company's accounting needs while increasing profits, then we would renew. So in our first year of using Xero, we saw this because of the ability to critically analyze investments. This helped us make the decision to renew.