Xero is perfect for our small organization!
September 02, 2021

Xero is perfect for our small organization!

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

Overall Satisfaction with Xero

Currently, we use Xero across the whole organization. At the department level, it's used to generate budget variance reports for various department heads to track and monitor the annual budget and actual spend to date. Organization-wide, it's our primary accounting system. We use it to create IS, BS, CF, etc., and to generate GL, JE, etc. for our auditors and tax preparers. The application is also synced with our bank accounts so we get real-time account balances. It's also integrated with other systems we use, including Expensify (used for employee reimbursement and corporate card purchases).
  • Easy to set up/use. It took me only 15-minutes for the initial setup.
  • Provide necessary integration with other applications we use. We integrate Xero with Expensify and JustWorks.
  • Cost-effective and therefore much cheaper than other plans out there.
  • Real-time link with our bank, which provides real-time account balances of what's in our bank account.
  • Standard reports already built-in.
  • Customized reports - allow more customization of reports to meet the specific needs of users.
  • Allow multiple journal entries at one time.
  • Create more free integrations with other software applications, like SAP Concur.
  • Improved transparency across departments on actual spend to date.
  • Improved financial accessibility. Ad hoc financial reports can be created in an instant.
  • Integration with other apps reduces errors. For example, employee reimbursements are automatically synced from Expensify to Xero.
  • Saves time on reconciliation.
  • Decreased risk and improved financial security.
Xero is more cost-effective and seems to be easier in terms of set-up and ongoing administration. The design and layout of Xero are much simpler and easier on the eyes than QuickBooks. Given the size of our organization, which is quite small, we feel Xero is capable of meeting our needs.
It takes a very short amount of time to set up Xero. Many of its functions/capabilities are easily understood and self-explanatory. The integrations with many other software applications (Justworks, Expensify, etc.) are seamless and fast. The reports it already has are simple to use and configure. Though the Xero community is extensive and Xero publishes blogs/web pages on how to troubleshoot some common items, I feel having a live chat/phone number to a live representative would be very helpful for more advanced questions on its software application. This feature is not currently provided by Xero.
The fact that Xero is cloud-based is very helpful and one of the top features we required when scoping out the different vendors. We wanted something we could access no matter where we are and no matter which laptops we have or lack. I'm comforted to know that if there's an urgent issue at work and I'm abroad with no office laptop, I can still access our company's financial/accounting data. However, I need to better understand the backup capability of the Xero cloud.
I've integrated Xero with our employee reimbursement and corporate credit card approval platform (Expensify) and with the company's various bank accounts. It was all very simple. The integration with our vendor management and A/P platform, SAP Concur, is also easily managed. Although, it's not automatic like Expensify. There are other options for integration I would like to explore but have not yet done so.

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

Xero is well suited for small companies/organizations that don't have very large transaction volumes and whose accounting is fairly simple and straightforward. It's also suited for entities that only require some basic/intermediate reporting needs. Xero is less appropriate for companies/organizations that require more advanced reports, have large transaction volumes, or if there are many accounting/finance professionals who will be using the platform at any given time.

Xero Feature Ratings

Accounts payable
7
Accounts receivable
Not Rated
Cash management
8
Bank reconciliation
9
Expense management
9
Time tracking
Not Rated
Fixed asset management
Not Rated
Multi-currency support
Not Rated
Multi-division support
7
Regulations compliance
Not Rated
Electronic tax filing
Not Rated
Self-service portal
Not Rated
Global Financial Support
Not Rated
Primary and Secondary Ledgers
Not Rated
Intercompany Accounting
Not Rated
Localizations
Not Rated
Journals and Reconciliations
Not Rated
Enterprise Accounting
Not Rated
Configurable Accounting
Not Rated
Centralized Rules Framework
Not Rated
Standardized Processes
Not Rated
Pay calculation
Not Rated
Direct deposit files
Not Rated
Salary revision and increment management
Not Rated
Reimbursement management
Not Rated
Dashboards
7
Standard reports
8
Custom reports
6
API for custom integration
8
Plug-ins
8
Role-based user permissions
9
Single sign-on capability
9