Finally No more Accountant Backup Files...
Overall Satisfaction with Xero
We use Xero to both run our own business as well as support our clients. The ability to have real-time access across our client base has been fantastic. We went from having limited access to real-time information (basically quarterly or annually when we got a QuickBooks file) to having near real-time information. It has allowed us to be more proactive and increased our client satisfaction levels significantly.
Internally Xero has allowed us to consolidate the multiple systems that were in place to manage time and billing. We have saved on costs by leveraging Paypal integration and allowing clients to receive invoices and make payments electronically.
As a company, Xero has been incredibly open to feedback. I am an XPAC member and have seen firsthand how the company listens to partners and their willingness to add features and improve the product (such as the updates to check printing and adding running account balances to help with monthly reconciliations).
Internally Xero has allowed us to consolidate the multiple systems that were in place to manage time and billing. We have saved on costs by leveraging Paypal integration and allowing clients to receive invoices and make payments electronically.
As a company, Xero has been incredibly open to feedback. I am an XPAC member and have seen firsthand how the company listens to partners and their willingness to add features and improve the product (such as the updates to check printing and adding running account balances to help with monthly reconciliations).
- Find and Recode - This tool is amazing. You can easily search for similar transactions and recode. For example, one team member accidentally coded a transaction from a specific vendor to two different accounts. You can search for the transaction by vendor and recode all of them in one shot. Saves a lot of time.
- Cash Coding - We have been able to take write-up clients and code a full year of transactions in a matter of hours (it used to take days). A little time invested in importing the transactions from the bank and then you can group and code the transactions quickly. Highly recommended.
- Integration - The ability to synch with add-ons has been invaluable. Open API's allow us to even consider building some of our own dashboards. It also allows us to pay for what we need as we grow. We don't have to pay for all the bells and whistles for areas we (or our clients) won't use.
- Bank Feeds - Xero much like other software is reliant on Yodlee feeds for many accounts. It's great when it works but can be a pain when the feeds go down.
- Reporting - Xero is continually improving the reporting but there is still room for improvement. There are however some great reporting add-ons that can help supplement when needed.
- Expense Reporting - The Xero expense reimbursement portion can be hard to manage with a large number of employees. There are very affordable add-ons that are better at scale.
- Xero has made our outsourced accounting processes significantly more efficient. We can manage all clients from one dashboard and easily flip to that client as questions arise.
Unlimited Users is Crucial. We found clients on QBO were creating joint accounts to avoid the user limits and as a result losing the ability to trace transaction and have appropriate controls. It defeats the purpose of having those features in place. The unlimited users is a big difference for us in choosing the vendor. We can add people as needed and not lose the history of who made what change.
We find the Xero interface easier to use.
Find and Recode is superior.
It would be nice to have a direct payments feature but the integration with
Paypal and Stripe work well.
We find the Xero interface easier to use.
Find and Recode is superior.
It would be nice to have a direct payments feature but the integration with
Paypal and Stripe work well.