Xero is rapidly becoming the leader in collaborative accounting packages!
Anonymous | TrustRadius Reviewer
April 29, 2015

Xero is rapidly becoming the leader in collaborative accounting packages!

Score 9 out of 10
Vetted Review
Verified User
Review Source

Software Version

Online

Overall Satisfaction with Xero

Xero is being used as part of tool bag of online accounting applications that we recommend to clients. Xero handles the day to day accounting function and integration with online banking that most clients need without the complexity of some competing providers.
  • Online functionality seems extremely well thought out and user friendly.
  • Online banking integration seems far superior to competitors!
  • Reports are easy to read and understand, without a college degree in accounting.
  • Demo version used to require you to subscribe to a full version with your billing information before the demo would activate. The user then had to deactivate in order to avoid being billed if the solution wasn't a good fit. Hope they fix this soon!
  • We see the greatest benefit of this sort of application in its user friendly functionality and its purely online collaborative content. With multiple log in for both client and advisor, the client can easily identify items that require further attention by the advisor. This reduces the client's dependence and expense on the advisor and frees the advisor up for more high level advising rather than data entry.
  • QuickBooks Online,QuickBooks Pro,FreshBooks
Xero appears to have a better user friendly "feel" and look compared to QuickBooks Online. It certainly has more functionality, at this stage, than does FreshBooks. But the online accounting industry is exploding and applications are constantly changing. Xero seems to the vender who is most seriously competing in this area.
The ease of set up and functionality are attractive features. The ability to manage and support multiple clients on this same platform is inviting! Staff and others can also have log-ins as well as other interested parties such as financial planners, business agents, etc. This truly makes for a collaborative team approach to get the most out of the client's financial data!
Xero is not suited well for clients with multiple departments that want more detailed reporting across divisions. It also doesn't yet handle inventory control, job costing and other more advanced features. The software is being constantly updated and it will rapidly become a major player in the industry, so I suspect many of these negative observations will be resolved soon.

Xero Feature Ratings

Accounts payable
8
Accounts receivable
8
Cash management
9
Bank reconciliation
9
Expense management
9
Time tracking
Not Rated
Fixed asset management
Not Rated
Multi-currency support
8
Multi-division support
2
Regulations compliance
Not Rated
Electronic tax filing
6
Self-service portal
6
Pricing
Not Rated
Order entry
Not Rated
Credit card processing
Not Rated
Cost of goods sold
Not Rated
Pay calculation
9
Benefit plan administration
Not Rated
Direct deposit files
7
Salary revision and increment management
7
Reimbursement management
7
Dashboards
9
Standard reports
9
Custom reports
2
API for custom integration
9
Plug-ins
Not Rated
Role-based user permissions
9
Single sign-on capability
9