Xero from a non-accountant perspective.
December 07, 2019

Xero from a non-accountant perspective.

Anonymous | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Xero

Xero is the accounting software we use to manage our income and expenses. It is mainly used by the COO and the accounts department. It is mainly used to manage the accounting needs of the business. We use it to raise invoices and track accounts receivables, keep track of expenses and manage cashflow, and finally to produce the financial statements.

Pros

  • There is a live feed with the bank account (though there is a 1 day lag). In addition to the integration with Receipt Bank. It helps a lot with the bank reconciliation as the payments can be allocated to the invoices with a click of a button.
  • There is a function to auto generate invoices and send these periodically with an email template.
  • Software is user-friendly and easy to navigate as a non-accountant. It is quite intuitive and modern. Even the reporting for financial statements is easy to work with.

Cons

  • There must be a simpler way to process the refunds from the bank feeds. There must be a way to raise the refund from the bank reconciliation and allocate to an existing invoice or account.
  • Seems there is a difference if there is a bill raised or not which affects the reporting. There must be a way to raise the bill when reconciling with the bank feed.
  • It reduced the time required for accounting (raising invoices and allocating payments).
  • Good for reporting.
Xero is pretty user-friendly, especially for a non-accountant. It works very well for a small company with simple accounting requirements. I have not used this for larger businesses so I do not know how this will work in a larger set-up. The reports are easy, they seem to have integrations with 3rd party systems which helps. Flexibility in the software is good.

At the moment, my constant complaint is adding the credit cards to the bank feeds. Until now, this is still not working. Otherwise, we are happy with the software.

Xero Feature Ratings

Accounts payable
6
Accounts receivable
6
Cash management
5
Bank reconciliation
7
Expense management
7
Time tracking
Not Rated
Fixed asset management
Not Rated
Multi-currency support
3
Multi-division support
Not Rated
Regulations compliance
Not Rated
Electronic tax filing
Not Rated
Self-service portal
6
Global Financial Support
Not Rated
Primary and Secondary Ledgers
Not Rated
Intercompany Accounting
Not Rated
Localizations
Not Rated
Journals and Reconciliations
6
Enterprise Accounting
Not Rated
Configurable Accounting
Not Rated
Centralized Rules Framework
6
Standardized Processes
7
Inventory tracking
Not Rated
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
Pricing
Not Rated
Order entry
Not Rated
Credit card processing
Not Rated
Cost of goods sold
Not Rated
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
6
Standard reports
7
Custom reports
7
Not Rated
API for custom integration
Not Rated
Plug-ins
Not Rated
Not Rated
Role-based user permissions
Not Rated
Single sign-on capability
Not Rated

Comments

More Reviews of Xero