Xero superior to QuickBooks
Updated January 08, 2018
Xero superior to QuickBooks
Score 8 out of 10
Vetted Review
Verified User
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.
- Fewer than 25% of my clients
Xero Feature Ratings
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
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
- Implemented in-house
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
Yes. Recommend viewing videos and one or two training sessions.
Configuring Xero
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
| Pros | Cons |
|---|---|
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
| Pros | Cons |
|---|---|
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
Integrating 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
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.