Best Accounting Software for Businesses of All Sizes
January 04, 2022

Best Accounting Software for Businesses of All Sizes

Kelvin Leong | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Xero

I have a number of businesses that use Xero. For NonCam.com, we handle loads of multi-currency sales and payments to suppliers from different payment gateways. Accounting with other software used to be a huge hassle in terms of transaction reconciliation, but Xero makes this a breeze. Tasks that used to take hours now take minutes, and it is significantly much easier. The automated transaction matching, bank feeds, invoicing, the bill payments feature are among the most used features for my team.
  • Bank feeds from banks are consistent and reliable.
  • "Smart" transaction matching is a huge time-saver.
  • Turns anyone capable enough to do basic accounting data-entry/processing.
  • Very easy flow and terminologies, yet remaining true to accounting core.
  • Multiple modes for users of varying levels.
  • Raw API integration is largely difficult to work with, but will probably only affect a small group of power users.
  • More integration points in terms of task automation could be good.
  • Price point is good for larger businesses but a little painful for smaller businesses.
  • Reduce errors with data entry with multiple checks.
  • Ability to onboard inexperienced staff into accounting.
  • Better picture of overall business financials.
The ease of use and feature sets are miles apart from the competition. The alternatives that I have compared Xero with are just years away from dozens of features which makes a user's life much easier. The competition's localizations are still very far apart, and the terminologies vary very much from local accounting practices, too.
Perfect accounting software. Couldn't ask for more, and couldn't be better. Well thought out from onboarding to day-to-day usage in close to every aspect of business needs. I use it for one-man businesses all the way to companies that have close to a hundred employees with thousands of transactions and it works perfectly.
Immediate deployment with zero setup experience is required by the user. Flexibility to change packages and addon features depending on the use-case of each company as it grows along the way. Deployment and maintenance is no longer a worrying point, unlike other on-premise systems which are much more clunky to operate.
Most of the integrations with third parties are rather common already and either available from the third party or via the marketplace. There are just thousands and thousands of other SaaS which are integrated into Xero and the ecosystem as a whole makes it a breeze to manage, whatever the scale of your business is.

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

High transaction volumes e-commerce retailers who want to keep track of their transactions with integrations to other platforms such as WooCommerce, Shopify, etc. You don't need a whole accounting team anymore, this takes the bulk of the pain with accounting away. Definitely recommended at the top of my own list.

Xero Feature Ratings

Accounts payable
10
Accounts receivable
10
Cash management
8
Bank reconciliation
10
Expense management
10
Time tracking
9
Fixed asset management
8
Multi-currency support
10
Multi-division support
Not Rated
Regulations compliance
8
Electronic tax filing
Not Rated
Self-service portal
Not Rated
Global Financial Support
10
Primary and Secondary Ledgers
Not Rated
Intercompany Accounting
Not Rated
Localizations
9
Journals and Reconciliations
9
Enterprise Accounting
Not Rated
Configurable Accounting
Not Rated
Centralized Rules Framework
Not Rated
Standardized Processes
Not Rated
Inventory tracking
6
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
Pricing
10
Order entry
10
Credit card processing
8
Cost of goods sold
7
Order Orchestration
8
End-to-end order visibility
9
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
9
Dashboards
10
Standard reports
10
Custom reports
8
API for custom integration
6
Plug-ins
10
Role-based user permissions
7
Single sign-on capability
Not Rated