Xero for new business models
Updated May 07, 2019

Xero for new business models

Anonymous | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Xero

I work with new and smaller companies that would like to streamline their accounting and billing system. Xero is one of the products that we use with some of these companies. It has been very easy to implement and set up and even owners that dislike being in front of a computer have an easy time using it. For many of these companies, Xero has been able to automate their banking and reporting.
  • Xero is extremely easy to use for all levels of users
  • As an accountant, I really appreciate Xeros ability to drill down and look at the details of transactions
  • Xero's reporting is easy to use and can be exported in different forms (pdf, excel, etc)
  • I had a few experiences where I had attached documention to a transaction, but when reviewed later it was no longer there.
  • One of the things I like about Xero is its simplicity, but it doesn't have as many Apps to sync with it as some of its competitors.
  • Some banks are still not able to sync with the Xero system.
  • The streamlining of invoices through the Xero system helped quite a bit.
  • Implementing the departments, chart of accounts and COGS in Xero for one of our clients, really helped to show where the opportunities for the business were.
  • The reporting in Xero that we were able to produce mid-month really helped to show where we needed to focus to close the month in the positive.
Xero is very efficient and easy to use for business owners that are not a desk all day, but still want to have knowledge of the business' performance. It allows for multiple users with different permission levels so multiple employees can help to streamline the business. Xero reporting is also very easy to produce and read.
For new or smaller businesses, I think Xero is a great software to use. For more complex, larger companies, it might be a little more difficult. When I've seen it used it companies with 100+ employees, they had separate software systems for POS and payroll. However, in those situations, it is nice because Xero has JE templates you can upload to have all of the information from the other systems.

Xero Feature Ratings

Accounts payable
8
Accounts receivable
8
Cash management
4
Bank reconciliation
4
Expense management
8
Time tracking
Not Rated
Fixed asset management
8
Multi-currency support
Not Rated
Multi-division support
6
Regulations compliance
8
Electronic tax filing
7
Self-service portal
5
Global Financial Support
Not Rated
Primary and Secondary Ledgers
Not Rated
Intercompany Accounting
7
Localizations
Not Rated
Journals and Reconciliations
9
Enterprise Accounting
8
Configurable Accounting
8
Centralized Rules Framework
8
Standardized Processes
9
Inventory tracking
Not Rated
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
Pricing
8
Order entry
5
Credit card processing
7
Cost of goods sold
7
Order Orchestration
Not Rated
End-to-end order visibility
Not Rated
Order exception Resolution
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
Dashboards
9
Standard reports
9
Custom reports
9
API for custom integration
7
Plug-ins
Not Rated
Role-based user permissions
9
Single sign-on capability
9