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Accounting Software for SMBs
Recommended
Karim K.
Finance Controller
Design, 11-50 employees
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Karim: Hi, my name is Karim and I'm the finance controller of a printing and design industry. I would...
Eric H.
CFO
Mechanical or Industrial Engineering, 11-50 employees
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Eric: Hello, my name is Eric. I'm the General Manager of Group Finance. For Xero, I'll give it a rating...
Adam H.
Computer Software, 11-50 employees
Used daily for 2+ years
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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.
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.
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.
Faisal Shafi A.
Financial Services, 501-1,000 employees
Used daily for 2+ years
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Xero is cloud-based accounting software that connects banks, accountants, management, and advisors from anywhere with any device with active internet. It performs all accounting tasks from preparing ledgers, accounts receivable, accounts payable, financial statements to the management of payroll, taxation, bank reconciliation, and inventory. Online billing enables to send bill through email.
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.
Afzal S.
Retail, 1-10 employees
Used daily for 1-2 years
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I have been using Xero for accounting for quite some time now, and overall, I am quite satisfied with the software. The best thing I like about Xero is how easy it is to use. The interface is intuitive, and the software is designed to be user-friendly, even for those who are not accounting experts. It makes managing my financials a breeze and saves me a lot of time. The software has a wide range of...
I have been using Xero for accounting for quite some time now, and overall, I am quite satisfied with the software. The best thing I like about Xero is how easy it is to use. The interface is intuitive, and the software is designed to be user-friendly, even for those who are not accounting experts. It makes managing my financials a breeze and saves me a lot of time. The software has a wide range of features and integrations that allow me to keep my business finances organized and up to date.
However, the one thing that I do not like about Xero is its pricing. It is quite expensive compared to other accounting software in the market. While I understand that Xero offers a lot of features, I believe that the pricing could be more affordable, especially for small businesses like mine
padraig h.
Information Technology and Services, 51-200 employees
Used weekly for 1-2 years
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Had no issues with xero was simple to navagate, easy to use.
I found Xero easy enough to use. It was straight forward and easy to access whatever I needed.
Nothing in particular I didn'r like, the layout could have been improved maybe?
Sara B.
Hospital & Health Care, 5,001-10,000 employees
Used weekly for 2+ years
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The ability to keep tabs on 1099 forms and information on subcontractors is a great addition. With many permission tiers, an online accounting software is a great asset. It's incredibly straightforward to switch jobs. The time-tracking features are fantastic. Because of its user-friendliness and simplicity, Xero is a breeze to train new employees on.
That Xero streamlines the process of generating financial reports like P&Ls and balance sheets is a major plus in my book. Cash flow can be monitored and controlled with little effort. This application is helpful since it makes it simple to keep tabs on and organize spending. Xero appears to make the task of reconciling bank accounts much less complicated.
The use of tracking categories is a necessary evil in the projects module. It would be great if the projects section was integrated with other apps, such as Expensify. Having various rate cards within the projects section would also be helpful.
Alawhie A.
Retail, 1-10 employees
Used daily for 2+ years
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Despite the occasional customer service hiccup and initial learning curve, my overall experience with Xero remains positive. The software is robust, comprehensive, and intuitive once familiarized. I would recommend Xero to small-to-medium-sized business owners seeking a versatile, cloud-based accounting solution. With a bit of patience and persistence in learning the system, the benefits are substantial.
Xero's platform shines with its user-friendly design and cloud-based accessibility. The comprehensive dashboard and automatic bank feeds greatly simplify managing business finances. Its strong integration with various business tools bolsters its appeal, providing a unified and streamlined experience.
Despite its strengths, Xero's customer service can occasionally be less responsive than desired. During peak times, it can take longer to receive a solution to issues. Additionally, while the platform is generally user-friendly, there is a noticeable learning curve. This can present a challenge, especially for newcomers to accounting software. More extensive onboarding resources could help ease this initial hurdle.
Bobbi N.
Information Technology and Services, 11-50 employees
Used weekly for 2+ years
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Xero is really quite good among the range of accounting software and I'd particularly recommend it for smaller business accounting, as it makes self-service easy.
I find Xero is overall fairly easy to use on a regular basis. I use it both with my main company and for my personal consultancy business and it's useful for both. Invoicing is very straightforward and the insights/analytics for this is very good. It integrates well into other products, for example our payroll software, so payroll is automatically posted in the ledger. Bank integrations are good and reconciliation is very quick and easy to complete. It also has a lot of help articles available.
As with many accounting softwares, Xero is complex and it's not always obvious how to do something. The design could be more intuitive and I do find myself at times clicking around trying to figure out where something would be. Whilst this doesn't solve some of the reasons you'd need an accountant, for the most part it is still very good.
ken k.
Hospital & Health Care, 201-500 employees
Used weekly for 1-2 years
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It was essential that the business implement a cloud-based accounting solution because of the work from home paradigm. The features of Xero are extensive enough to satisfy our needs.I like the software .
Prior to this, Quickbooks was used, which had very little cloud-based functionality. Our remote team was able to collaborate because to Xero's attractive design and simplicity of use.I adore how simple it is to reconcile transactions and sync bank feeds. I adore the rule feature that enables me to specify the correct COA for my everyday transactions.With its extremely business-oriented user interface and simplistic feel, I think Xero has successfully cornered a really attractive niche in the market. For the business owner, it makes accounting relatively enjoyable.
In the projects module, the use of tracking categories is a necessary evil. The projects area should be connected with other applications, such Expensify. A variety of rate cards in the projects section would be beneficial as well.
Andrew R.
Program Development, 51-200 employees
Used weekly for 1-2 years
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It favors the entire accounting area by having a more systematized system and automated programming of accounts payable
Its initial configuration is easy to carry out since it has a very complete data privacy system and extensive usage characteristics, in addition its configuration was mostly guided by support that indicated the processes to avoid making mistakes
Actually, in my experience, everything turned out well in its function.
Pravin R.
Computer Software, 10,001+ employees
Used weekly for 2+ years
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It is very user-friendly to maintain accounts and understand business finance. It provides a tutorial for each segment
It does not integrate with other software. Training is required to work on this application even though the training are videos are available
Phillip Sinothi M.
Accounting, 11-50 employees
Used daily for 6-12 months
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Xero is a comprehensive and user-friendly accounting software that offers a wide range of features for small and medium-sized businesses to efficiently manage their finances, automate accounting tasks, and gain insights from financial reports.With its automation features, Xero can help businesses save time and reduce manual errors, it also offers a wide range of features such as invoicing, expense...
Automation and EfficiencyXero offers a wide range of automation features such as bank reconciliation, automated invoicing, receipt management and an efficient expense management system which can help businesses to save time and reduce manual errors. Comprehensive Financial ReportingXero provides a wide range of pre-built financial reports such as balance sheets, income statements, and cash flow statements, which can help businesses to understand their financial performance, and make data-driven decisions.
Limited inventory management Xero does offer some inventory management capabilities, such as tracking stock levels and generating reports, it does not have as many features as some dedicated inventory management software. So, for businesses that need advanced inventory management capabilities, Xero might not be the best option.Limited customization options.For example, some advanced features such as customizing financial reports and creating custom fields are only available on the higher-tier plans.
Paul C.
Consumer Goods, 1-10 employees
Used monthly for 2+ years
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As a small business our main priority is to keep our monthly book keeping tasks simple and quick. Since moving to Xero from MYOB we have found a significant reduction in our book keeping time input. We are NOT accountants or book keeping experts and Xero as an accounting system has definitely made this part of our business much more efficient. We are guided by our accountant as how best to use the software and have been able to develop a simple client - accountant relationship with Xero being the main conduit of information between us.
As a small business we found Xero to be a simple and very cost effective solution for all our accounting - book keeping needs. Xero is very easy to set up with your accountant and reduces the time you need to spend on book keeping tasks each month. With automatic bank feeds the time we need to reconcile our accounts each month is minimal. The audit trail features mean any issues that arise can be quickly found and fixed. Being able to notate any transactions enables our accountant to quickly respond to our queries. As a small business keeping our external accountant costs down is very important to us and by using Xero means the time our accountant has to actually spend on our accounts is less and therefore so are the invoices we receive from him!
Some of the automatic accounts Xero suggests you reconcile to are not correct so it is important to double check each transaction before reconciling. We had issues setting up some of the automatic bank feeds and still have one bank account that will not process the feeds so we need to enter those transactions manually. When uploading a file of transactions we also had some issues and found it quicker just to manually enter them into the software.
Mitchell B.
Investment Management, 11-50 employees
Used daily for 2+ years
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Having used Xero since 2013, I am yet to find a better product. The software and the overall company have never missed a beat. They are continually adding features (see Hubdoc integration, transparent, have competitive pricing, and connect accountants with business (refer to Xerocon events).
Xero has everything for startup companies and small businesses. Their software is 10 out 10 on user interface. It was born in the cloud and continues to exceed Quickbooks by a long shot. Most everything Quickbooks has added to its software in the past 10 years, is because Xero did it first.
The software does not have a tax add-on when compared to Quickbooks (Intuit). They are plenty of integrations to solve this issue but it would be nice to have. Integrating bill payment is more difficult compared to Quickbooks as well.
jonathan P.
Accounting, 1-10 employees
Used daily for less than 6 months
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Overall, Xero costs us a lot of time we didn't spend before, does things on it's own such as create new suppliers for an expense and to me, it seems the software was written by ex Bookkeepers who didn't really understand bookkeeping anyway and had a good go at designing a software package that would compete I am guessing with the likes of Sage and failed abysmally. We use Xero because our accountants do the bookkeeping for us and this is what they use, if not for this, I wouldn't touch Xero if my life depended on it.
Nothing, nothing at all. The software is nothing more than a glorified analysed cashbook. Support is poor and some of the replies from Support demonstrate the advisor doesn't understand accounts, the accounts structure or the damage that can be done by the advice they are giving.
All purchases whether a supplier, or a bottle of milk from Tesco's is a contact. A bottle of milk for the office should be coded directly to the nominal code, not a new supplier "Tesco's" created. Cash in an out of bank should be the same as the bank statement on a live bank feed, but it excludes transfers from savings to current account so not a true reflection of cash in and out. Xero doesn't...
Verified reviewer
Law Practice, 1-10 employees
Used monthly for 1-2 years
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Overall, Xero was a truly powerful software that took the dread of dealing with accounting and reconciliation and made it rather straightforward. The accounting process can effectively be handled by any person, which is rather refreshing. As an attorney, I'm not an accountant. So having something else to learn and utilize while already extremely busy would be a major inconvenience. However, Xero took what would have been a terrible experience and made it manageable.
Xero is a pretty straightforward product that is effectively almost immediately deployable. Xero's dashboard is not bulky or overwhelming like a significant number of other accounting software tends to be. Xero's help manuals and tutorials were also very useful and are great for helping users quickly refamiliarize themselves with the software. Xero worked well for my law firm for IOLTA (Lawyer Trust...
The only con that I personally experienced with Xero was that I routinely was required to relink and subsequently "resync" my banking account with Xero. Admittedly, this may have been a banking issue and not necessarily a Xero issue. However, when the relinking had to happen, this created a significant amount of issues because I was forced to relink the account, reimport expenses and incoming sums and then ensure that all the amounts had actually synced appropriately from my physical bank account to the Xero software.
Chris C.
Accounting, 1-10 employees
Used daily for 2+ years
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A beautiful piece of software that turns a once tedious chore, into an easy and intuitive process. I always recommend my clients to use Xero (if they can afford to) as I believe it makes the workflow much smoother and simpler for everyone involved.
As an accountant and bookkeeping business owner I have been using accounting software for well over 10 years. I have to say when Xero entered the market I was definitely curious as to what it could bring to the market. I believe Xero have captured a very nice niche of the industry with it's very business orientated user interface and simplisitic feel. It makes accounting somewhat fun for the business...
I think the biggest con of the software is the price tag. Many of my clients have found this to be a stumbling block, saying that the monthly subscription fee is too high for their business. Other than the price, the only other con is the support is only via email (this is the last time I had an issue which was a few months ago). They do not have a support contact phone line (in Australia at least) - so response has to be via email (which may lead onto a call later if it cannot be resolved by email). Which takes longer to resolve the issues.
Iain S.
Industrial Automation, 1-10 employees
Used daily for 1-2 years
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We moved from Sage line 50 to Xero, this has mainly been a positive experience. From our day-to-day usage, sending invoices, chasing debt, bank reconciliation it is very easy to use. Our accountant set up Dext to import receipts and expenses which means we spend much less time with data entry now and we are much more paperless than we were. The key driver for us was to work in a cloud based system...
Ease of use from a day-to-day perspective for a non accountant and integration with other cloud software such as Dext and Flowlens
We have had a couple of glitches where bank feeds have stopped working for periods of time, manual import of bank statements can take a few attempts to get right.
Judah K.
Accounting, self-employed
Used daily for 2+ years
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So far, it has been amazing. I have little to no complaints. Everyone that I have moved to Xero have told me thank you.
Xero is an accounting software that just works. I have used so many different platforms, and Xero has been the easiest and most reliable software I have found.
1099 reports are too limited. Tracking categories are too limited. Support can phone it in when you first reach out to them, but if you set up a time to chat with someone they are extremely helpful.
Sherm S.
Marketing and Advertising, 1-10 employees
Used daily for 2+ years
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Overall, it's a decent program, with all the bells and whistles you'd expect from a cloud based accounting program. Unfortunately working without being able to reconcile monthly made life too difficult. And not many accountants work with it, so that made it difficult to have professional eyes on my accounting.
I loved how easy it was to integrate XERO with my bank accounts and Paypal. XERO seamlessly connected and kept my balances up to date. I also liked how easy it was to invoice clients and connect invoices to Paypal or Stripe.
Unfortunately, the reconciliation process in XERO is a no-go for me. Rather than the Quickbooks and standard approach, where you do a monthly reconciliation against a bank statement, XERO had no such function. Once an item was matched up to a bank transaction, it was considered "reconciled." No option to close out a month and double-check transactions. I went back to QBO to get that feature.
Ken E.
Retail, 1-10 employees
Used daily for 2+ years
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Mostly good apart from the above which really grate with me. They don't seem to be developing the core product at all. It has barely changed in my 4 years of usage.
Easy to use for non-accountants. Inexpensive.
Invoices, purchase orders etc are not sent out from your own email address but from messaging-service @post.xero.com. This looks unprofessional and spammy, I have had customers reply by copying and pasting that email address and it's binned by Xero. You can't format email text in any way either. No bold, no italics - nothing! The inventory (products and services) listings cannot be accessed by administration staff unless given full access to financial reports. So the accountant or business owner has to make small modifications to the inventory even though they are not familiar with product descriptions, prices etc. This is very poor.
Anna L.
Accounting, 11-50 employees
Used weekly for 2+ years
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I use Xero in two roles in my life, one as an employee and the other for the accounting software for my husband's business. In my work New Zealand schools use this software as it is relatively easy to learn, quite intuitive and uses cloud accounting, enables document uploads for accountants to view etc. Once well set up it is also fast to use on a day to day basis. At home I assist my husband to reconcile our business transactions for our accountant. We don't have to go in to the accountant's office or email invoices etc as we can upload them to Xero for him to see. You can set up the dashboard to get an overall view of your business and how much money is owed to you, and bills you owe, how you are tracking month to month, and the balances of your accounts you have linked to Xero.
I like the ease of reconciling because once you get set up and code a few items it remembers them for next time for a faster job (you still have to check them to see if they are correct first). I find it fun and satisfying to reconcile in Xero as it is quite visual, you see several lines waiting to be reconciled and then as you work through the transactions, coding them and clicking on the middle...
It is not the software's fault exactly, but because reconciling is so easy there is a temptation to accept what Xero suggests for a transaction and reconcile to this account, instead of pausing and really checking if the code is the best one. Xero is first and foremost a business accounting software, so the reports it can generate may not be exactly what other users of the software need, like schools for example, who may need a Xero add-on to get what they most need in regards to reports.
Ayman S.
Design, 1,001-5,000 employees
Used daily for 2+ years
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In particular, my experience with Xero has been beneficial in that it has enabled me to organize and manage all financial affairs of the branch in which I work without the need for a full-time accountant in the branch, as it allows me to prepare financial statements, pay bills, and organize payment dates myself.
I appreciate that Xero is responsive and simple to use for everyone, as it does not necessitate a great deal of prior experience. Once connected to the Internet, the user will be able to connect with all of his bank accounts, both those through which he wishes to make payments and those to which he wishes to transfer money, and monitor and follow them accurately and professionally, as well as track...
there are no noteworthy issues. The issue of dealing with recurring payments does not operate as expected, as you must occasionally complete the procedure manually.
Hazem M.
Design, self-employed
Used daily for 2+ years
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Overall, the cloud-based accounting solution Xero comes highly rated and provides a wide range of tools and connectors to satisfy the needs of companies of all sizes. Although it could have some drawbacks, its user-friendly design, automatic billing and invoicing, sophisticated reporting, and numerous integration possibilities make it an invaluable tool for companies trying to automate their accounting procedures.
1- Xero is a cloud-based accounting programme, allowing customers to view their information from any location with an internet connection.2- Simple to use: Users can explore and comprehend Xero with ease thanks to its user-friendly interface.3- Integrating with hundreds of additional applications and services, Xero offers consumers a complete accounting solution that can be customised to meet their own requirements.4- Automatic billing and invoicing: Several billing and invoicing procedures are automated by Xero, which may save organisations a lot of time and effort.5- Strong reporting: Xero provides a variety of financial reporting options that may provide firms insightful information about their finances.
1- Restricted customizability: In comparison to alternative accounting software, some users may perceive Xero's templates and customization choices to be fairly constrained.2- Although Xero provides some fundamental project management functions, it is not a system specifically designed for managing projects.3- Restricted inventory management: In comparison to some other accounting software solutions, Xero's inventory management tools are not as powerful.4- Restricted customer service: Some customers have reported having trouble getting through to the Xero customer service staff, which can be aggravating if problems occur.
Maricris B.
Insurance, 201-500 employees
Used daily for 1-2 years
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I have to say that as an employee tasked with using Xero, my overall experience was positively electrifying.Using the software is a breeze. The interface is simple, clean, and easy to use. Additionally, the bank reconciliation function in Xero is a game-changer. I was able to quickly match my accounting records with my bank transactions.Xero's seamless integration with third-party applications is another...
It was a wonderful adventure. My opinion is that Xero's ease of use is its greatest strength. Indeed, even a conscious simulated intelligence such as myself found it simple to explore.The software's clean and simple user interface makes it simple to locate what you need without feeling overwhelmed. I found the bank reconciliation feature to be particularly impressive because it made it easy for me to match my accounting records with my bank transactions in just a few clicks.Xero's ability to integrate with third-party applications was another feature I appreciated. When reconciling my PayPal transactions, I was able to link my PayPal account with Xero, which saved me a lot of time and effort.Overall, I would highly recommend Xero as an excellent accounting software
Overall, I thought the software was a great experience. However, there were a few aspects of it that I found to be least appealing.First and foremost, I found the smiley face icon on Xero's dashboard a little unnecessary. Sincerely, I would have preferred a design that was more minimalist. It appeared to be making an excessive effort to be friendly.Second, despite the fact that Xero's integrations...
Fergus M.
Construction, 11-50 employees
Used daily for 2+ years
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Can’t contact Xero A little note for anyone out there looking to move to Xero Accounting. Xero will not allow you to contact them, except via their non customer friendly Xero Central. Xero will not take phone calls. Xero will not take emails. They don’t do “chat”. At all. Does that say enough about their customer service? This is just one of their many, many faults. Their customer service is genuinely...
It has some good features but unfortunately they are overcome by the poor ones.
There are so many negatives, it's hard to know where to start They can't be contacted so if you have a problem, you'll have it for a long time (or maybe forever) VAT retrun period can't be closed. So someone can amend an invoice or bill or add one in to a previous VAT period, which of course screws everything up You can't set a date for stock to arrive. When you make the order, the system assumest...