Item: Xero
Rating: 4
Author: Verified User

Overall Satisfaction with Xero

Use Cases and Deployment Scope

I use Xero to do the accounting for my small business and pay my 30 employees. I issue many invoices each week for therapy sessions.

Pros and Cons

Pros

Xero imports data from my bank accounts to make it easier to reconcile invoices and payments
Xero stores all of my employee data and allows me to do pay runs
Xero's profit and loss reporting is good.

Cons

In the age of AI, Xero need to be better at matching payments to invoices.
I compare results between last year and this year frequently, but Xero defaults back to monthly or period compaisons
Xero has had a major increase in fees, I think they probably think that it's too hard for me to change to another accounting system so they can increase fees and I will pay rather than leave :-(

Return on Investment

Xero saves me time in invoicing but could be automated more
There needs to be a way of reducing the multifactor login for a longer period. I'm the only person who uses my PC but I have to log in frequently - frustrating.
Xero could save me much more time but better use of AI to match payments to invoices.

Xero is a very user friendly and convenient accounting system the I enjoy using. It could be smarter in reconciling invoices and the recent Xero subscription price increase was overly large and a shock.

Cloud Costs

Better AI like reconciling of payment to invoices.

Ease of Integration

I integrate with Deputy rostering system. It does not work that well but its more Deputy's fault than Xero.

Alternatives Considered

MYOB

I think Xero is better than MYOB

Key Insights

Do you think Xero delivers good value for the price?

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?

Likelihood to Recommend

I like Xero. It's a very good cloud based accounting system that let's me run my business from anywhere and do payroll effectively for my 30 employees. However, the recent large increases in the cost of Xero and the lack of AI oriented payment reconciliation processing makes me wish I have choses a less expensive accounting package.

Xero Feature Ratings

Comments

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Xero is very good but now quite costly