Xero superior to QuickBooks
Updated January 08, 2018

Xero superior to QuickBooks

Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Xero

Across the organization and a few of the clients we support. Addresses the version issues of QuickBooks and bank reconciliation as central core of product is superior to its competitors.
  • Bank feeds & reconciliation
  • Single ledger
  • Xero to Xero network invoices and bills
  • Integrations to various, more specific solutions
  • Multicurrency
  • Reporting query flexibility
  • Global search functionality
  • Easier return to prior pages after drill-down
  • Quicker, more efficient client closing process
  • Eliminates need to transfer data files or company versions
  • SaaS model, like QuickBooks Online or similar software vs. one-time fee for desktop or enterprise or other multi-licensed desktop software; include as part of fixed, monthly value fee
  • Standard reporting functionality allows consistency across multiple entities and users.
Previously exclusively a desktop QuickBooks "shop". Hate the version control issues and need to collect and transfer data files to get source documents. Auto bank downloads clunky and not as intuitive as Xero bank recon features. Few clients use FreshBooks - nice customer invoicing tool, but not a real accounting system. Selected Xero because it's easy to learn, dashboard view is great and bank recon makes accounting efficient and easy.
It's Particularly well suited for service businesses. Product-based business require integrations for anything but rudimentary retailers / products. Need to be comfortable working with bank reconciliation process; other products allow multiple ways to create and edit transactions, while Xero is best suited for transactions which will ultimately flow through as a bank transaction. Reporting formats, few of the terms are more "European"; no problem for me, but may be a turn-off for some.

Xero Feature Ratings

Accounts payable
8
Accounts receivable
9
Cash management
10
Bank reconciliation
10
Expense management
5
Fixed asset management
7
Multi-currency support
10
Multi-division support
7
Regulations compliance
7
Electronic tax filing
5
Self-service portal
8
Global Financial Support
5
Primary and Secondary Ledgers
10
Intercompany Accounting
8
Localizations
5
Journals and Reconciliations
10
Enterprise Accounting
9
Configurable Accounting
8
Standardized Processes
9
Inventory tracking
3
Pricing
3
Order entry
3
Credit card processing
8
Cost of goods sold
3
Order Orchestration
3
End-to-end order visibility
2
Order exception Resolution
1
Pay calculation
7
Direct deposit files
7
Salary revision and increment management
7
Reimbursement management
5
Dashboards
9
Standard reports
8
Custom reports
5
API for custom integration
10
Plug-ins
10
Role-based user permissions
8

Using Xero

4 - Accounting, office management
3 - Xero certification, bookkeeping or accounting background
  • Automated bank feeds
  • Open API & integrations
  • Bank rules
  • Hubdoc to Bill.com to Xero integration for full accounts payable and payment system
  • Better use of standard report templates
  • Convert more clients from QuickBooks
Beside what's already covered, the "discussion" feature in Xero, and the "Cash Coding" feature as well as "Find & Recode" feature allow classification or reclassification of many transactions quickly.

Evaluating Xero and Competitors

Yes - QuickBooks desktop and QuickBooks Online. Hated the multiple version issues or accountants copy limitations in QB desktop. QBO is simply an inferior, less intuitive product from bank coding, payments vs. deposits, etc.
  • Price
  • Product Features
  • Product Usability
  • Third-party Reviews
Ease of use was most important factor. The single ledger and use of bank reconciliation as central features are brilliant and intuitive. Base features such as multi-currency and fixed assets are often additional cost in other systems, but not Xero. Saas model allows automatic upgrades, so no tracking versions of software and no loading of upgrades.
Wouldn't change. I would suggest taking advantage of free trial.

Xero Implementation

Should take minimal effort and be fully implemented within a few hours. Payment system and other app integration may take a little longer, but well worth the effort. Look at Xero Files and Xero Practice Manager for receipt storage and attachments and project workflow tracking. Great Vimeo video library available. Might look a little different than used to for older accountants, but take the time to learn and get more comfortable.
Change management was a minor issue with the implementation - Should make it part of switch to digital, online office. Look to digitize all, or as much as possible, of your documents as well as full investigate other apps in Xero marketplace for integration for real-time, powerful end to end systems and automation of most processes. Make sure credit cards are used exclusively for business, otherwise have to sort personal or other entity transactions.
  • Need good opening balance sheet
  • Identification of correct bank for initial bank feed set-up
  • Bank security questions. Not a Xero issue, but rather financial institutions.

Xero Training

  • Online training
  • Self-taught
Great videos available on "Xero TV" on Vimeo platform. Covers both basic and specific tasks.
Yes. Recommend viewing videos and one or two training sessions.

Configuring Xero

Xero itself not really configurable in traditional, ERP sense. But availability of Xero app marketplace makes functionality endlessly configurable. Bank rules within Xero very useful and time saving.
Xero uses bank reconciliation as central feature, so if using journal entries before you'll need to think about coding from bank receipt or debit instead.
No - there is no facility to customize the interface
No - we have not done any custom code
Take time to set-up bank rules. If defined correctly up front will have tons of time going forward. Well worth the effort.

Xero Support

Knowledgeable support team available on real-time chat, videos, help function with search capability and online community. Do have off hours.
ProsCons
Quick Resolution
Good followup
Knowledgeable team
Problems get solved
Kept well informed
No escalation required
Immediate help available
Support understands my problem
Support cares about my success
Quick Initial Response
None
No - No such thing. Support is included with monthly fee. No different support levels or maintenance fees. It's all included. Video library is first rate and so often don't need support.
Yes - Just once. Downloaded duplicate bank transactions. However, Xero's internal rules identified them in bank reconciliation and automatically flagged as duplicates.
QuickBooks to Xero conversation team was able to convert QuickBooks Pro database to new Xero subscription in 2 days. Huge value add. Some review and clean-up needed, but minimal compared to effort would have required on my part. Highly recommend to current QB desktop users.

Using Xero

Ease of use, especially for new accounting system users. Older users may need some time to get used to bank reconciliation as main conduit.
ProsCons
Like to use
Relatively simple
Easy to use
Technical support not required
Well integrated
Consistent
Quick to learn
Convenient
Feel confident using
Familiar
None
  • Bank reconciliations
  • Connecting apps in Xero marketplace
  • Files to attach receipt or other document to transaction
  • Payments or receipts that included a standard invoice or bill plus another, unusual component
  • New vs old reporting structure unnecessary and clumsy
Yes - Mobile apps truncates some functionality to most commonly used, but can access full functionality if needed. Mobile app has same look and feel as normal view.

Xero Reliability

Over 600 plus apps available for integration and easy to create standard charts of account and report templates to implement across multiple entities. Same pricing regardless of number of transactions or users. Real benefit is variety of integrated apps that allow you to automate processes and have functionality that 10 years ago was only available in ERP systems costing hundreds of thousands.
cloud-based service with very high uptime, reliability. Customer support available most of time, but is some off hours.
As long as you have fast internet, Xero is as fast as you can go. Just be careful when reconciling multiple transactions or using bank rules to make sure information is correct.

Integrating Xero

Xero pre-qualifies vendor partners and has open API.
  • Stripe
  • Square
  • Expensify
  • Bill.com
  • ADP
  • Paychex
  • SurePayroll
  • Authorize.net
Very easy to integrate. Usually integration set-up in other system that needs to be tested vs within Xero.
  • Vend
  • Spotlight Reporting
yes, already support.
  • File import/export
  • AppExchange or similar marketplace
No. Xero app marketplace and open API makes integration easy.
Just look in Xero app marketplace by function or industry, then check out the most popular, existing apps.

Relationship with Xero

Free trial, easy conversion, transparent pricing. A Xero rep is dedicated for accounting partners.
Responsive customer support, large video and help library can find 95% of any questions without going to customer support.
Standard pricing. Have discount tiers for partners.
No. Just try free trial.

Upgrading Xero

Yes - Xero pushes out upgrades periodically. As part of SaaS model, done on back end without any effort or work on our end. Seamless!
  • Greater payroll functionality and efiling capability
  • Enhanced reporting
  • More integrated apps
  • More states for payroll
  • More flexible reporting tools
Yes - Had clients move from starter to standard versions as invoicing or bank transactions grew. Seamless change with no effort other than some set-up in Invoicing.