Intuitive Small Business Accounting Partner
December 04, 2024

Intuitive Small Business Accounting Partner

Juliane Vorster | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Xero

Doing bank recons, keeping track of my accounts, generating and tracking invoices and payments and keeping my books up to date for tax and accounting purposes.

Pros

  • Generating and tracking invoices
  • Giving me the flexibility to customise the chart of accounts for the type and needs of my business
  • Bank recons

Cons

  • Cash in and cash out is netted across my various accounts. I would like the option to choose my main operating account and only track cashflows for that
  • I have not yet found a way to split expense lines on my bank statement into more than one line and accounting code
  • I tried importing bills, but it does now work. Even Xero's invoice to me comes up as a complete jumble when using the import template provided.
  • Reduced errors
  • Much faster bank recons
  • Able to adjust historic transactions in current accounting period
  • Time saved for business owner and accountant
I have only used the basic functionalities and it took a little time to get to know how, but now that I am in a rhythm, it is a great experience and quick to keep up to date. The online support is great and it provides such peace of mind knowing my books are up to date!
Not yet - the business is still too small. Currently it is an expense that is an investment in efficiency and future benefits.

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 ideal for a small business where the cost of the monthly subscription is justified against the time it would otherwise take to do manual accounting, or where accuracy is of utmost importance. It works really well when linked to a retainer from your accounting firm, as it cuts down the hours they need to spend and therefore cuts down on their accounting costs. I also helps business owners establish sound financial discipline.

Xero Feature Ratings

8.4
Accounts payable
Not Rated
Accounts receivable
10
Cash management
7
Bank reconciliation
8
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
9
Electronic tax filing
Not Rated
Self-service portal
8
Global Financial Support
Not Rated
Primary and Secondary Ledgers
Not Rated
Not Rated
Inventory tracking
Not Rated
Order Management ()
Not Rated
Payroll Management ()
Not Rated
8.0
Dashboards
8
Standard reports
Not Rated
Custom reports
Not Rated
Not Rated
Plug-ins
Not Rated
Not Rated
Role-based user permissions
Not Rated

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