Overall Satisfaction with Xero
I use Xero to manage the books of my eCommerce company. It allows me to connect my bank accounts and automatically pull in all transactions, which I then reconcile and share with my CPA so that they may calculate quarterly tax payments. Before using Xero, I was doing this all manually with spreadsheets.
- Allows me to quickly label transactions
- Allows me to easily pull reports like Balance Sheets and P&Ls
- Removes the human element and automates my transactions
- The bank feed doesn't always work as expected, still requiring some manual entry
- Reduced the amount of time I spent each month with bookkeeping
- Reduced the number of errors due to manual entry and calculation
When I first set it up 2 years ago, I was able to do most of the initial setup myself without much assistance from customer support. Once I successfully set it up, I had very few issues. I have been able to use the tools and resources largely without having to get additional help from reading Help articles and most of the questions I typically have are more about accounting itself since I don't have a background in this area.
When I first started using Xero 2 years ago, the bank feeds, once they were set up, worked without fail. However, in the summer of 2021, they switched to a new third-party provider and my bank feeds didn't work for 3 months and required me to manually enter my transactions. After this initial 3 months, I would still find transactions that were missed or duplicated, and even still, 6 months later, one bank feed has never worked again and still requires me to manually enter transactions each month. This failure has doubled the amount of time I now have to spend on bookkeeping each month.
Do you think Xero delivers good value for the price?
Are you happy with Xero's feature set?
Did Xero live up to sales and marketing promises?
Did implementation of Xero go as expected?
Would you buy Xero again?
For a smaller company like myself ($500K annual revenue) with around 150 transactions a month, Xero is robust enough for my needs. Perhaps a larger company or even a more complicated company with more transactions/more varied transactions may need something more robust. The price is very attractive and I feel fits my needs.