The accounting package everyone should be using.
June 27, 2018

The accounting package everyone should be using.

Matt Heerema | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Xero

Xero is our primary accounting software. We switched to it from QuickBooks because we needed a cloud-based solution that reliably allowed multiple users in multiple locations to log in and see a shared set of data without syncing conflicts or the need for complicated VPN/remote desktop solutions that were required for QuickBooks.
  • Estimates, invoices, statements, and electronic payments. Their invoicing system is extremely robust and integrates with a variety of payment gateways. Recurring invoices, statements, and reminders to clients help me see all my AR at a glance, and make collecting super simple
  • Cloud-based. As a web app, there is no desktop software to update, sync, remote desktop into, etc. It's all updated, across locations and user accounts, real time.
  • Reporting: configurable reports help me slice our accounting data in very accessible and actionable ways.
  • Accounting: matching expenses, vendors, income, etc. Xero has all the features we need, and none we don't, making it a highly usable and intuitive system. No complex learning curve to implement the software.
  • Interface design: It's fine but is getting dated. It could use some refreshing that would help declutter and clarify the interface
  • Mobile app: many of the features are not available in their app, and the site is not mobile friendly, meaning you have to be at a desktop to utilize the full power of the suite.
  • More payment integrations, would be helpful for us (Specifically Stripe ACH transactions)
  • Payroll availability in more states. This has been slow to roll out.
  • Xero has kept our accounting processes simple and streamlined
  • Xero is an inexpensive solution, relative to others out there
  • Xero has brought visibility to our AP and AR, helping us stay on top of things quickly
  • Xero's statements system and payment processing have helped us catch up with past-due accounts very quickly.
Xero hits our "maximum point" on the curves of simplicity, usability, and feature set. In my opinion it is by far the best in class, and the only reason it hasn't taken over Quickbooks entirely is that industry-standard products, no matter how inferior, are difficult to dislodge. Quickbooks needs to go away. Xero is amazing.
This is the perfect accounting app for small to medium sized businesses. I imagine there is an upper limit on organizational size/complexity and regulatory requirements, but that is beyond my area of expertise. It is particularly well suited to professional service agencies. I have no experience with it in the manufacturing or food service sectors, so it might work well there, but I have no first-hand knowledge.

Xero Feature Ratings

Accounts payable
10
Accounts receivable
10
Cash management
10
Bank reconciliation
10
Expense management
10
Fixed asset management
10
Multi-currency support
Not Rated
Multi-division support
10
Regulations compliance
Not Rated
Electronic tax filing
Not Rated
Self-service portal
10
Global Financial Support
Not Rated
Primary and Secondary Ledgers
10
Intercompany Accounting
Not Rated
Localizations
Not Rated
Journals and Reconciliations
10
Enterprise Accounting
10
Configurable Accounting
10
Centralized Rules Framework
Not Rated
Standardized Processes
10
Inventory tracking
Not Rated
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
Pricing
10
Order entry
10
Credit card processing
10
Cost of goods sold
10
Order Orchestration
Not Rated
End-to-end order visibility
Not Rated
Order exception Resolution
Not Rated
Pay calculation
10
Benefit plan administration
Not Rated
Direct deposit files
9
Salary revision and increment management
Not Rated
Reimbursement management
9
Dashboards
10
Standard reports
10
Custom reports
10
API for custom integration
10
Plug-ins
8
Role-based user permissions
10