Xero has allowed us to get a real, detailed view on the financial situation within our company from one place. With a comprehensive setup, it can provide real value from day one.
Pros
Xero has transformed our financial management and provides us with all the real time data we could imagine, and where it lacks, integrations take over. While more "accountancy" friendly than some of the more simple products, once you work with your accountants to get this right, you won't regret it. The detail, features and holistic approach to managing company finances means that we are using this every day and with pleasure.
Cons
The interface is being updated, and it is needed as it is a little old fashioned in its design. That said, it is clean and clear and otherwise we love everything about Xero.
Rating breakdown
Likelihood to recommend: 9/10
Xero give me, an accountant, a tool to provide my clients with that effectively gives them a tool for keeping their daily records in an orderly fashion make my job easier at the end of each month.
Pros
Xero have been designed to be used by non-account business folks. However, once the data has been listed an accountant has a great tool to use to finish the company financial records (Monthly, Quarterly & Annually). It is also priced at a rate that works for most business owners.
Cons
I really do not know of any areas within the software that I can list as "Least" liked. I do not know of any significant problems which I believe need correcting.
Rating breakdown
Likelihood to recommend: 10/10
Excellent A few features I would love to have, but frankly the price and features are excellent. Makes it so easy to start a business.
Pros
Pretty, easy to use.
Love the bank reconciliation and VAT and PAYE submission.
Love being able to quickly generate P&L and Balance Sheets.
Cons
A few rough edges especially in allocating payments, inherited I think from originally trying to abstract away the accounting functionality.
The UK Payroll feature can get complex, but frankly not sure how they can make it any easier.
Miss an easy way of generating a remittance advice when paying .
Rating breakdown
Likelihood to recommend: 10/10
We've been using Xero for about two years now. There have been a few hiccups along the way but for the most part things have been ok. Recently however, we've had a problem with our bank feed uploading into Xero in order to reconcile transactions. We first encountered this issue on 2/10/18. We informed Xero and they said they would look into the issue. A couple of weeks went by without hearing anything about the feed working as it should. We contacted them again and they said they were still working on the issue but that we could manually download the transactions ourselves in the meantime. Today is 4/10/18 (2 months later) and they still have not fixed the issue. We are still having to manually download these transactions ourselves in order to reconcile our bank accounts within the Xero software. I spoke with Xero this morning and they still do not have a timeline for when this will be fixed. They said they use an outside company to perform the importing of bank feeds functions and that they are not responsible for it not working. They said when we signed up for the Xero service we were informed about the possibility of the feed possibly cutting out at some point in the fine print (terms & conditions). They refuse to issue any sort of refund for their monthly service during this time of inconvenience because they say the bank feed import function is a free service offered by a third party. The problem we have is that Xero is marketing this service as part of their overall monthly service package which you assume is really included in your monthly service fee you pay to them. When it doesn't work they take no accountability for it not working. We think it's very deceptive for them to market a service (bank import functionality) to prospective buyers, which you assume is included with your monthly service fee, but then take no responsibility for it not working when things breakdown. We believe they do this to gain a competitive advantage over other companies like Quickbooks. Instead of just charging for the bank import service which would increase their monthly service fee and make them less competitive on a price basis with their competition they artfully setup their service to be able to offer a more competitive price but not assume any of the responsibility when the service doesn't work as expected. The general consumer doesn't think to put this deceptive tactic together when they sign up for the service and Xero assumes once they have you onboard you'll deal with the issue until they can get it fixed because switching accounting software companies at a later date is extremely inconvenient.
Pros
The service accomplishes most of what it was intended to do albiet at a bit of a learning curve for the new user.
Cons
There is no customer service support number to call. Bank feeds do not work properly. IOS app is mising some functionaility
Rating breakdown
Likelihood to recommend: 1/10
it was okay we used it for a few years then switched over to quickbooks
Pros
loved how everything was available to anybody if I needed to add someone with some features I could and remove them I could too
Cons
couldn't edit transactions or give discounts. we'd have to delete the whole thing and start over.
Rating breakdown
Likelihood to recommend: 7/10
Starter: $20/month
Standard: $30/month
Premium: $40/month
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Jimmy Flores
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