Xero & Double Rule: A Match Made In The Cloud
Software Version
Business editions (Starter, Standard, Premium) and Partner editions (Cashbook, Ledger)
Modules Used
- Xero, Partner Edition, Practice Manager, Workpapers
Overall Satisfaction with Xero
We are an accounting and bookkeeping firm that only uses and support Xero. Coming from big four firms with outsourcing and business process background, I've always looked at ways to process things efficiently. Access to data, anywhere, anytime, was key. It led us to implementing app virtualization tools which turned out to be more costly and inefficient. We've experienced data corruption, server crash, lost data and the entire slew of network and hardware issues that made us focus on network administration more than on our core business - accounting service. This is what Xero has addressed.
- Cash coding. We've recorded thousands of transactions in one account in just hours. The ability to select multiple lines, enter description, account number, and other details just once, and being able to save, record, and reconcile in one click did not exist - until Xero.
- Sales dashboard allowing A/R personnel to have an overview of the top customer collectibles and by hovering their mouse over, they can preview contact information allowing them to just pick up the phone and start following up. If the customers want a copy of the invoice and statement, they can easily click the portion of the pie graph and it goes to a statement page where they can click on Email. The workflow design is just amazing.
- Find and Recode. This is a recently released feature. Imagine reclassifying hundreds of transactions which accounts were recorded in error or processing tracking of multiple transactions previously untracked. Complete time saver.
- Management Report. It's packaged beautifully and intelligently. We literally saved 70% of our time in report preparation. The ability to add a summary, insert ad hoc reports, mark a number and add a footnote reference, and to generate this beautiful package in 2 simple clicks - Publish, Publish - simply amazing.
- Pay now. I've had clients ask for the ability to process a payment within Xero and mark an invoice as paid immediately. The current process is either to print an invoice into PDF then click on the link that is generated based on the payment services set-up. Alternatively, you can email the invoice to the customer, in which case, the customer will click on the link and enter their credit card information for processing. Some of these companies want to store the credit card information in systems like Stripe and be able to click Pay Now when an invoice is generated for their customers.
- Approval workflow process. It's amazing that Xero has a simple workflow for payables and receivables. It would be more efficient to complete that process if the approver gets notified that there's a bill or an invoice that is awaiting for approval. Also, would be nice to have multiple layers of approval. Doesn't have to be complicated, even just sequential.
- CTRL F. We can probably work around this with the Find and Recode. However, still not the same compared with leading competitor. An easy way to look for a transaction is not available. We'd still have to go to Bank (under Account Transactions), Sales and Purchases (using search).
- >50% processing efficiency. When we decided to be a 100% Xero only provider, we had to re-distribute certain employees to focus on research, add-on technology, transition, migration, and less on day-to-day. We were used to a 10 to 15 day turnaround for month-end close. With Xero, it was less than 10 days.
- Xero's brand also helped us bring in focused clients resulting in significant increase in revenue as well as less travel expense. Clients in Xero expects less visit and more conference calls. It allowed us to reach certain states that would otherwise be close to impossible had we stayed with our prior business model.
- QuickBooks Premier,QuickBooks Enterprise Solutions,QuickBooks for Mac,QuickBooks Online,QuickBooks Pro,Sage One Accounting,MYOB
Using Xero clearly shows how intelligently the system was designed. Very fitting of their tagline, "beautiful accounting software." We've used similar products since 1994, over 15 years of experience before we met Xero. When it was first introduced, we were like, "oh, just another online accounting software," referring to comparison with QuickBooks Online which is a total disappointment. We'd rather stick with the proven desktop versions. However, when it was demoed to us, the experience was totally the opposite. This is not just another accounting software. This is a platform where industry solutions must be built upon together with other beautiful add-ons.
- 50% to 75% of my clients
Xero Feature Ratings
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 - The product is ingenious. The tutorials, videos, support is world-class. Premium product support should be provided through accounting and bookkeeping partners.