A great service for the price; great for small business with medium bookkeeping needs
February 24, 2022

A great service for the price; great for small business with medium bookkeeping needs

Jessica Meadows Rich | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

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?

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

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.

Xero Feature Ratings

Accounts payable
Not Rated
Accounts receivable
Not Rated
Cash management
Not Rated
Bank reconciliation
5
Expense management
Not Rated
Time tracking
Not Rated
Fixed asset management
Not Rated
Multi-currency support
Not Rated
Multi-division support
Not Rated
Regulations compliance
Not Rated
Electronic tax filing
Not Rated
Self-service portal
7
Global Financial Support
Not Rated
Primary and Secondary Ledgers
Not Rated
Intercompany Accounting
9
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
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
7
Standard reports
9
Custom reports
8
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