Xero - A new and hip accounting software for all
August 25, 2014

Xero - A new and hip accounting software for all

Sarang Mandke | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Software Version

Global Version

Modules Used

  • Accounting i.e. Sales, Purchases, Bank, Payroll, Fixed Assets, management reports and annual reports

Overall Satisfaction with Xero

Xero is used as an accounting and finance tool across our organisation i.e. Futurebooks. Xero helps us stay on top of our customers billings and all our expenses. Increasingly, we are using Xero to build future strategies for the company as the various financial reports generated out of Xero provides a very clear, concise, easy to read and understand analysis of Futurebooks' financial position.
  • Let's begin with Xero's user interface. Its visually appealing, really simple and easy to follow. Each and every tab within Xero links smoothly with one another so a user such as myself is never lost or confused.
  • Recording of sales, purchases, payroll and bank transactions is fast and efficient in Xero. As you begin to use Xero more regularly, you can generate client bills, record expenses, payroll at a rate of one minute per transaction.
  • In most countries, Xero has live feeds with banks so you need not worry about missing any bank transaction. Its recorded automatically.
  • With Xero's superb mobile app, you can record your sales and expenses on-the-go i.e. you need not sit at your computer to record data.
  • Xero links beautifully with all of its add-ons. For example, an add-on called Receipt-Bank, which automates expenses (i.e. purchase invoices and bills) by pulling all relevant information of your expense receipt, will then send this information directly Xero where it will be awaiting your approval and payment.
  • One area of improvement for Xero will be to localise its functionality by each country. Presently, Xero has localised versions for Australia, New Zealand, UK, US while the rest of world receives a standard "Global" version. Hence, users from the rest of the world may find it a little time consuming to tailor the output from Xero to suit their local government requirements.
  • Xero can also improve on its "Annual Accounts" section by providing users more freedom and tools to amend the layouts, styling and overall presentations of the reports.
  • Reduction in amount due from clients by 50% on a quarterly basis. Xero has helped my company handle accounts receivable efficiently
  • Targeted growth strategies owing to Xero's capabilities of presenting profits, cash-flows in a very simple manner
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.
Companies in Singapore who are looking to migrate to cloud accounting software like Xero should consider questions such as: What will be the company's monthly sales and expense, bank and payroll transactions? Will the company be registered for Singapore Goods and Service Tax (GST) in the foreseeable future? These simple questions will assist each company to choose the correct software and pricing package.