Item: Xero
Rating: 8
Author: Kevin Atton

Use Cases and Deployment Scope

I use this alongside and on behalf of a number of clients, for management accounts, VAT returns and to a lesser extent wages.

Xero offers a solution across the entire spectrum of accounting this being bookkeeping, wages, VAT, management accounts. There are a wealth of reports to assist and guide.

I'd say xero offers a solution that's built for the user and thus assists even those that don't (and have no desire to!) understand accounting in its full detail.

Pros and Cons

Reporting
Assisting the user
Making transactions easy
Bank Feeds

Lock dates
Year end procedure
More advanced aged debtor reporting

Return on Investment

A relatively low cost solution
No large upfront cost
Numerous import options to allow for migration from other packages
Quick, reliable reporting
No issues with bugs, downtime etc

Usability

Xero's whole build is very much user driven and therefore it assists and guides you across each process with quick and easy links to raise a sales invoice, enter a purchase invoice, create a VAT return. Matching bank payments and receipts is an easy process with xero suggesting links based on values and can then be matched with one click.

Cloud Costs

There are no upfront or hosting costs and this also means the software is available at any time, any where on any device. There is also sufficient security to allow you to feel (and for it to be) safe, as there are two factor logins on any new devices. Again for easy you can allow common devices for 30 days to speed up the login process.

Ease of Integration

Not integrated so not applicable. Not integrated so not applicable. Not integrated so not applicable. Not integrated so not applicable. Not integrated so not applicable. Not integrated so not applicable. Not integrated so not applicable. Not integrated so not applicable. Not integrated so not applicable. Not integrated so not applicable. Not

Alternatives Considered

QuickBooks Online

Xero is very much a market leader and is at a sensible cost point. It offers a wealth of functionality with all accounting features coming as standard. It's easy to add bolt ons such as payroll at any time.

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

Likelihood to Recommend

Xero is well suited to owner managed businesses from small one one bands to SME's. It helps to minimise the burden of day to day transactions with the bank feeds option and gives the user a degree of comfort when the bank in reconciled that all transactions are entered.

It's also built in such a way that the user doesn't need to understand the finer details of the accounting treatment, it's built to assist and walk through the user although some of the terminology is a little American with receivables and payables etc.

Great product, easy to use and user focused.

Overall Satisfaction with Xero