Get clarity in your numbers and stay on top of your money with Xero
Updated August 29, 2022

Get clarity in your numbers and stay on top of your money with Xero

Dr Olivier Becherel - Leadership and Executive Coaching | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Xero

We use Xero for bookkeeping, accounting, payroll, and tracking cash flow in the business. It brought a lot of order and clarity in the bookkeeping and simplified the task. It actually makes accounting less daunting and provides us with key reports with just one click. It allows us to have a finger on the pulse and to see trends. We can also pay superannuation directly from Xero which makes it really simple and efficient and avoid missing deadlines. Overall, Xero removes the friction for accounting and fiance management.
  • Bookkeeping with direct feeds from bank accounts.
  • A simple and elegant user interface.
  • A variety of specific reports.
  • Makes reconciliation a breeze.
  • Lodge Activity statement.
  • Payroll management.
  • Integrates well with Stripe.
  • Superannuation contribution payments
  • Can upload receipt/scan receipts to have everything in one place for bookkeeping
  • Sometimes bank feeds disconnect for no obvious reason.
  • Could provide graphic charts in addition to number reports to make it more visual.
  • Time and cost saving in accounting fees.
  • Greater clarity in financials.
  • Real-time tracking of cashflow
  • Provided Customised reports.
  • Better Budgeting.
  • Forecasting income.
  • Better management of account receivables.
  • Facilitate tax preparation and planning.
  • Simplified and streamlined bookkeeping as everything is is on place.
  • Knowing in real-time the financial position of the business in terms of cashflow.
Xero is very simple and easy to use. There is also a very good help section in case you get stuck on something. The UI is simple and clean and the features are quite intuitive. Xero adds new features from time to time which enhances the user experience. Overall it makes the accounting experience much more enjoyable.
It has definitely saved a lot of time and effort and it has streamlined the accounting process. Sharing our Xero file with our accountant has been a major time saver and dramatically helps reduce bookkeeping errors. It is easier to create a budget and make forecasts and track the performance of business. Being able to lodge all the payroll payments, superannuation contributions, BAS from Xero directly has saved a lot of time.
Very easy to use to process credit cards with Stripe.

Do you think Xero delivers good value for the price?

Yes

Are you happy with Xero's feature set?

Yes

Did Xero live up to sales and marketing promises?

Yes

Did implementation of Xero go as expected?

Yes

Would you buy Xero again?

Yes

Well suited for a small business to maintain good quality bookkeeping and get some insights into your numbers in real-time. It facilitates the provision of Taxes and the management and reconciliation of transactions. It's simple, effective and cost-effective. It makes accounting much more enjoyable and gives you accurate numbers in real-time wich allows you to create a budget for forecasting. It also simplifies payroll and superannuation and Tax reporting.

Xero Feature Ratings

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

Using Xero

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
  • Automatic Bank reconciliation feed
  • Activity statement reports
  • Payroll
  • Superannuation payments
  • Entering expense receipts
Yes - It works wells for reconciliation and checking the current status of accounts receivables. The App is clean, easy to use to quickly check what's happening. I don't use the App to create and send invoices, because I prefer a large screen, s I do that on my desktop. The mobile app is very useful to capture receipts, make a digital copy, and file them for bookkeeping purposes.