Item: Xero
Rating: 10
Author: Mark Sinclair

Use Cases and Deployment Scope

We use Xero to manage our accounting and reporting requirements. Xero also integrates with other applications we use including Chargebee, Bank accounts[,] and Stripe.

Pros and Cons

Synchronises transactions with bank account for easy reconciliation
Automates BAS and GST reporting
Automates transaction allocation to accounts based on banking transaction codes
Provides all financial reports
Reconciles transactions from our subscription system, Paypal and Stripe

None come to mind. Xero meets all our needs.

Return on Investment

Significant time savings
Eliminated the need for book keeping support
Instant reporting

Alternatives Considered

MYOB

Xero is superior to MYOB in multiple ways, particularly government reporting, BAS and GST.

Usability

Xero is simple to use and at the same time covers all the financial and accounting complexity needed for a SaaS business like ours.

Cloud Costs

The directors have direct access to accounting information without the need for support bookkeeping or accounting staff. This saves time and money.

Ease of Integration

Xero was very easy to implement and integrate with banking and the government portal. Easy to follow [the help] is provided.

Key Insights

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

Other Software Used

Chargebee, Stripe, PayPal Payments

Likelihood to Recommend

Xero is great at reconciling transactions between bank accounts, our subscription system, and payment integrators. Also, the automated BAS and GST reporting functionality saves significant time.

Xero makes accounting easy and eliminates the need for bookkeeping support.

Overall Satisfaction with Xero