Xero vs Oracle AML and Financial Crime Compliance Management Comparison

Some of my clients use Xero. It's very intuitive, and make reconciliations a breeze! Errors are easy to fix. I think this is excellent accounting software for small businesses.

I wish there was telephone customer support. Also, financial reporting and GAAP compliance is lacking.

Easy to create invoices, match transactions between Xero and your bank, and simple to view your daily balance. Invoices look professional with logo and custom business information, and you can email invoices to clients directly from Xero. You can also use their payroll portal, but we don't use that particular feature. Xero also connects with Stripe, our credit card processing company, and automatically handles the processing fees. We appreciated how easily it integrated with Stripe.

It's very easy to duplicate transactions, or to create invoices and bills within the wrong month. After doing so it's difficult to find the transactions and to delete them. I'm very savvy with software and spreadsheets and it definitely surprises me when my accountant contacts me to ask me about a transaction that appears to be a duplicate.

Web based accounting software that covers many aspects including Core accounting, fund accounting, expense management, budgeting and forecasting, financial reporting, project accounting, billing and invoicing and payroll management.

Learning the system was a task but after learning all that it had to offer and how to use it this software is an asset to our firm!!!

Remote access. It has allowed me to outsource my book-keeping function, which is the only reason I swopped systems from what I was using prior. Xero is well known and well-liked by book-keepers in New Zealand. Plenty of Add-ins options to develop capability.

Poor inventory managements. No real sales analysis. There are no management accounts just financial accounts. Add-ins start to get expensive to build in the functionality that your business needs to get the business management tools you are looking for.

It's a comprehensive financial tool for every small to medium-sized businesses. It has lots of great features (and growing) to support growing businesses. From automated invoice creation and follow-ups to full financial tracking and mobile app management it's the only tool you need.

Like with many tools of this type it does require you invest time learning it and it's hard to change solutions once they're set up - so ensure that it has all the features you need before signing up.

The price tag is perfect for what it offers compared to the really big guys. It is very intuitive and easy to learn. Give yourself some peace of mind with the best bookkeeping software for small businesses.

You will need an accountant to help you get everything set up and work through any compliance issues with reporting.

Easy to use and automates alot of the financial management. When you connect it with your bank feeds, it makes it easy to reconcile accounts and monitor your business balance in real time.

It doesn't integrate with Paypal that well. If they can fix the feed so things can be managed better with Paypal transactions and currency integrations, the software will pretty much be perfect.

Xero app send instant alert when there is disparity on invoices, POs and accounts when paying vendors.

Mobile app isn’t highly customizable compared to Quickbooks.

Being a small business our requirements in terms of developing a financial management and reporting tool is very specific, Xero is a very useful product for such businesses. It's a on the cloud application that's robust, has outstanding uptime, works across devices, and presents a financial picture with ease. 1) Ease of access across all devices. 2) Bank reconciliation are great as well.

The problems with Xero are mostly related to onboarding, we migrated from Sage to Xero and the setup process was a nightmare. Overall stability issues in the app are also somethings that needs to be watched out for. overall a very good package, we are satisfied with our experience.

A real web / cloud software Complete functions for the Accounting Perfect to manage P&L and your accounting

It should have more compliance staff with European Countries More Banks 7 credit Cards integrations

Xero provides a great overall experience for general financial accounting, as well as solid support for international business. The extra file storage is a nice addition, though for most needs a bit overkill. The mobile apps are well-designed and provide a solid UI for financial management, though some of the features from the full desktop suite are unavailable in-app.

One of the best features available in other online accounting suites - employee time tracking - is missing in Xero, and this significantly reduces the viability of the product for many of the potential users. While it is possible to integrate third party add-ons to provide this functionality, it's not a seamless transition, so there are some hiccups to work around.

I love how easy it is to invoice my clients, and reconcile bank statements. I love the ability to set up rules and easily manage my own bookkeeping basics.

I don't fully understand the reports and how to really take this software to the next level for full financial management and budgeting. But there are plenty of experienced bookkeepers who can be engaged to assist. Also, the price is a little high for a micro business. A lite version would be helpful.

Xero manages the whole accounting of business straight forward. Particularly automating the process of bank reconciliation is amazing time saver, it connects to banks and credit cards. Moreover, it effectively and easily integrates with other cloud based software which enhances usability of Xero.

Process of bank reconciliation has been automated but the process got glitches causing bank feeds stopped and entity has to restore to importing bank statement manually which takes time and attempts more than once. Inventory management needs improvement. Customer support is not perfect comparatively. It is not user friendly for those who have little accounting knowledge.

Billing process, AP, AR, and financial analysis

Till date we are not having issue with the software

It's a reliable tool that helps me to carry out all accounting and bookkeeping operations efficiently. I like the ability to track and manage expenses.

There is nothing unpleasant with Xero as it meets all my accounting needs.

The system is user friendly and ticks all the boxes for my day to day business running's. I can view all my reports real time which is great for strategising. I also get a kick out of reconciling each transaction and seeing my bank accounts fully reconciled in a lovely visual.

It is a bit more pricey than other softwares but not by too much that it would deter me from using their software. I don't have the need for purchase orders in my business but I have heard from other users that their can be improvement in this area.

Solid integrations available for things like expense reports, receipt management, and I can work with outside accountants. Makes tax returns super straight forward as long as I keep mh books reconciled.

I think the worst part is more the legacy banking systems that Xero needs to work with. They have flaky security mechanisms which cause accounts to become disconnected randomly. This is better or worse with various banks and financial institutions. So, not a fault of Xero's possibly

Tracking and managing expenses with Xero is simple. Bank reconciliation is another thing that I like about Xero. Xero accepts online payments.

I have no issue with Xero as it meets all my accounting needs.

Simple to use, focusses on the financial management of your bank accounts first. We coined the term; Upside Down Accounting. And it really is. When you think of the way that the bank feeds link to transactions; its no different to a game of snap 'OK'

I think that it it's too cheap (yeah, that's a double negative). We've found that the product is priced perfectly for us as the consumer. But commercially as a SaaS provider ourselves, I think that it is too cheap for what it does. But then there are 11m small businesses in the US, so get a slice of that and BOOM. We use it every day in our business and it does exactly what we need. As a business with offices in AU / US and customers round the globe, Xero provides a capability that we'd be spending 10s of thousands per year with other platforms that deliver half the value (and add more staff to manage and administer).

The invoice sharing and xero network are absolutely amazing features. Was easy for my business to adapt xero

I would appreciate if xero will intergrate with more tax authorities and financial institutions to streamline the process of taxes and payments in one place.

Xero is a cloud-based accounting software which is focused on small and large businesses to help with their financial management. Xero is focused on Simplifying everyday business operations like paying pills, claiming expenses etc. Also Xero has a mobile app, which makes tracking your business even more convenient.

For the begginning, it take some investment in money and time to make this software work with your company. Also it takes some learning to experience all the features the software has to offer.

Data security is enabled. Helps to easily manage the reports. Permits access to multiple users. Can be accessed from any device. The dashboards help you to quickly grasp the financial status of your firm. Easily generate reports. You can also store the contact information of your stakeholders. The software initially offers a trial period after which, you can choose your desired plan. Offers a lot of innovative features for management of cash flow and also to analyze the financial data.

Inventory management function lacks in features. The application is not ideal for large businesses. The global version that is available for most of the countries lacks in printing capabilities. The entering of preferences all the time is, in fact, a tedious task.

online base, no need to update or closing a Financial Year

the Bank account information for Supplier, it is very hard to check the information when the BSB number and Bank account fill combine together. May I suggest that, using two different BOX, one for BSB number and the other one for account number.

"Beautiful" if that matters for accounting. Marketing and graphics look nice. Basic financial reports possible.

No notes on invoices or PO's. No down payments or deposits. Horrible to use Docx format. Does not support anything the most basic differences in user roles or access. No changes in years.

The ease of use and ability to convert from other systems. The API links it to other wonderful software

Sometimes clients prefer to talk to humans when they have queries instead of contacting via email