Item: Xero
Rating: 10
Author: Kristie Simas

Use Cases and Deployment Scope

Our company exclusively utilizes Xero for all clients' bookkeeping needs. It provides data that is user-friendly for small business owners to quickly and simply see how their business is doing and where their money is being spent. This cloud-based software helps us to supply clients with reporting that helps them easily understand the financial workings of their business.

Pros and Cons

Customized reporting templates
Software Integrations
User-friendly automatic bank feeds + reconciliation screens
One-stop dashboard with balances and graphs
Simple AP/AR tracking

In-house payroll still in development, but integrates well with various payroll softwares
Reporting customization is being continuously improved upon, but some beefier reporting may require outside integrations

Return on Investment

Ability to deliver seamless month end reporting
Ability to share visibility with the client via cloud-based software and user management
Ability to use bank rules and cash coding to accurately reconcile transactions

Alternatives Considered

QuickBooks

I have used other accounting programs. There are very large programs that may be better suited for corporations with large inventory requirements but for the small business owner, Xero is #1. QuickBooks is clunky and nowhere near as user-friendly or tech-savvy as Xero. Xero has created an environment where it cares about its users and keeping up with the times as far as software and reporting goes. It is easy to add and manage users and to understand the dashboard and overall interface.

Other Software Used

Gusto, Bill.com, Slack, MINDBODY

Likelihood to Recommend

Xero is the #1 accounting software for small businesses. Its ease of use helps business owners without an accounting background to easily understand how it works and what their 'numbers' mean to them. Customizable reporting templates help to put together month end reports specific to an individual's business needs and software integrations help to create quick and accurate revenue and other figures. I love working with Xero and how easy it is to navigate their software. They are also always working to add updates and to listen to their users' needs to help create the best system possible.

Xero - The Small Business Owner's Dream Accounting Software

Overall Satisfaction with Xero