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A solid accounting solution for small business
Updated January 09, 2018

A solid accounting solution for small business

Ronen Amit | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Xero

We were referred to Xero by our accountant who also helped us with migrating to Xero. We are currently using it for two different companies, one is a US based and the other is EU based. We are using different apps to streamline our accounting. One of the apps was supplied by our accountant in order to upload bills and receipts, which his company then reviews and inputs into Xero. Xero is also connected to a couple of other external apps, such as an eCommerce fulfillment app, which syncs manual and online orders into Xero, as well as, an invoice management app that allows us to sync unpaid invoices, send reminders to our clients and charge them using ACH and credit cards.
  • Easy to use interface
  • Handles both domestic and international companies
  • Lots of apps to compliment and streamline our accounting
  • Xero still lacks the ability to offer ACH payments, we needed to connect to an external app for that matter
  • App marketplace could get some improvements
  • Xero is probably not suitable for larger companies with over 100 employees
  • Xero has reduced our overall software expenses
  • Xero helped us streamline different aspects of our transactions and make our business more efficient
  • Xero reduced our accounting cost in general
Xero as a cloud-based solution cannot be compared with the desktop solution, especially when much of our company's business is done online. The more the market moves online, the more desktop solutions will be cumbersome and outdated. Other cloud-based solutions, such as Accounting by Wave and QuickBooks Online, which we have tried in the past, had either a slower interface or lacked some features we required.
Xero is well suited for small businesses with less than 100 employees, especially if these companies require to streamline different sales channels. However, before making a decision the business should make sure it can automate as much as the business accounting with Xero. Not all third party apps and software, small businesses are using these days, are compatible with Xero, so each business needs to evaluate all its operational aspects in regards to this accounting system. If your business can sync most of its transactions with Xero either directly or via external apps, go for it. Otherwise look for a better candidate.

Xero Feature Ratings

7.8
Accounts payable
9
Accounts receivable
9
Cash management
8
Bank reconciliation
9
Expense management
7
Time tracking
7
Fixed asset management
8
Multi-currency support
9
Multi-division support
Not Rated
Regulations compliance
8
Electronic tax filing
8
Self-service portal
8
Global Financial Support
8
Primary and Secondary Ledgers
8
Intercompany Accounting
7
Localizations
6
Journals and Reconciliations
8
Enterprise Accounting
Not Rated
Configurable Accounting
7
Centralized Rules Framework
7
Standardized Processes
7
5.5
Inventory tracking
5
Automatic reordering
6
Location management
Not Rated
Manufacturing module
Not Rated
7.2
Pricing
9
Order entry
7
Credit card processing
6
Cost of goods sold
8
Order Orchestration
5
End-to-end order visibility
8
Order exception Resolution
Not Rated
Not Rated
Pay calculation
Not Rated
Benefit plan administration
Not Rated
Direct deposit files
Not Rated
Salary revision and increment management
Not Rated
Reimbursement management
Not Rated
8.0
Dashboards
8
Standard reports
8
Custom reports
8
6.5
API for custom integration
7
Plug-ins
6
7.5
Role-based user permissions
8
Single sign-on capability
7

Using Xero

Although Xero overall usability is good, there are some points which requires improvements. One of them is the inventory which is limited to a single price list, making it difficult for wholesalers to issue invoices if they have various price lists depending on the type of clients (distributors, small retailers, large retailers etc). Another weak point is that Xero does not integrate ACH payment in their invoicing system. Only credit card payment is currently acceptable via Xero invoice.
ProsCons
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 Integration
  • Invoicing
  • Contacts
  • Third party apps integration
  • Reporting
  • Inventory
  • Price lists
Yes, but I don't use it