Xero

June 1, 2021
Bill Kimball

what is xero

Xero uses equally effective navigation schemes throughout the site, providing both access to data and links to related actions. It does an excellent job of providing different views of your financial data and the navigation tools needed to work with them. 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. largely positive, but when they got rid of payroll, given my business of 2 employee/owner s-corp in a medical practice, with no retail/inventory, it made things a ton easier to just do my accounting in Excel. It was really the payroll that made this a no brainer for me.

There is no communication, no ETA, nothing. Once I purchased, then I realized in the discussions how widespread is this problem. I would have NEVER purchased this product as there is not more frustrating than something that is the cornerstone of operating your business not working. PLEASE do your due diligence before purchasing. However, there are a few things to keep in mind. First, Xero’s built-in payroll was flawed.

  • Very poor customer service and the agent refuses to get on the phone with me to discuss.
  • Xero makes it simple to categorize money in and out with its chart of accounts.
  • Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
  • The site is now integrated with Gusto, our Editor’s Choice winner for payroll, which gives it competent, comprehensive payroll management.
  • I cannot complete pays since yesterday I have chased them up again today and I am still waiting for a reply.

Xero is our pick as the best accounting solution for growing businesses. Xero is a program that meets you where you’re at. Its flexible features and plan options eliminate the need to invest in another accounting program when your business grows.

Lists Featuring This Company

The Xero Marketplace is your one-stop source for all integration needs, with seamless integration offered between Xero and any app you sign-up for on the marketplace. OnDeck is our featured vendor for business loans and lines of credit. If you have at least one year in business, a personal credit score of 600 or higher, and $100K in annual revenue, OnDeck is ready to help your business get funded. Brex Card has $0 in annual fees. For a limited time get 50,000 rewards points when you spend $1000 with Brex.

If you’re only missing the last few days of the year and already have the rest of your info in Xero, it seems that would be a much faster, easier option than re-doing all of 2014 in QB. Then you could switch to QB for the 2015 financial year.

This is just one of their many, many faults. Their customer service is genuinely the worst that I or anyone at our company have ever seen in a combined 200 years working with software packages. I strongly urge you, if you’re considering Xero as an accounting package, to think again and do your research first. They do not and will not listen to their customers. Don’t take my word for it, do your research and you’ll find out.

Features are easy to access from the dropdown menus that are located across the top of the screen or from the cards on the dashboard. The Early plancosts $9 per month and limits you to five invoices, five bills and 20 bank transactions per month. There are many activities related to running a small business outside of bookkeeping and accounting, however most of these activities are interlinked in some way. Many small businesses already use a number of other systems such as CRMs, inventory management tools, time trackers, receipt scanners and so forth. Importing all this data from multiple apps to Xero can seem like a daunting task, however this is made hassle-free through the some 500 plus add-ons offered on the Xero Marketplace. The software is geared towards small to medium-sized businesses looking to increase their accounting efficiency while at the same time adding a little fun to the process.

Xero Is An Awesome Bookkeeping Solution For Small Business Owners!

I would advise everyone to seriously consider if they really want to be trapped in online accounting. As soon as you stop paying, your data is inaccessible. Sure, there are ways to export but you will lose all the detail.The final straw for us is a lack of ability to charge late/finance charges. I made the stupid assumption that all accounting had this. The other things is lack of payment discount. We are returning to our OLD offline accounting that does all of that and far more.

what is xero

Product and service reviews are conducted independently by our editorial team, but we sometimes make money when you click on links. Both new and existing users can sign in with LinkedIn. Software updates are free and available when users log in. Access accounts online anytime from anywhere, even on the go using mobile devices (iPhone/iPad/Android) or tablet.

Xero Customer Service & Support

I’m sorry to hear that you’ve had a poor experience with Xero. I understand how frustrating slow wait times can be. When I last updated this review, all of my emails to Xero were responded to within 1-2 hours. However, I have noticed a lag in response times in the last few months and the company recently redid their US Help Center, which I now find to be less functional and more difficult to navigate. Both of these facts will be taken into consideration when we next update this review.

Two weeks now and still no reply despite numerous attempts by myself. I am paying $60 per month and I don’t know what for. I can’t complete my BAS, my Superannuation or get bank feeds. Now I read that the price is going up. More than disappointed. The Xero APP is useless if you are trying to run your business away from the office.

He tried to leave but there was no way back. He had signed on for eternity.Very similar to Hero’s chat, eh? I can’t imagine how they wouldn’t have chat. But Hero doesn’t sync Inventory with Square – which is really bad.

The app also serves as a remote collaboration and advisory platform for accounting professionals, eliminating the need for client visits and unnecessary paperwork. Xero does not delete your datas when you cancel your subscription. Otherwise, no company would ever trust them to put its book in their hand. As a cloud accounting business software, it is not conceivable. Xero is very basic as an accounting program. The market to which it markets it has no understanding of, is therefore unable to address any questions or requests coming from businesses in these markets.Customer Service is appalling.

When To Choose Xero

Available on any computer or mobile device with an internet connection. Business finances and cashflow are updated in real time. Imports transactions from bank accounts. Unlimited user logins.

what is xero

You can definitely set up recurring invoices, bills, expenses, etc. But if you’re looking for a full cashflow forecast, then the only way I’m aware of that Xero does that is through Excel, and it’s pretty clunky. Since I’m much more familiar with the US version than the Australian version, this would be a point worth checking with Xero directly. The company is currently in the midst of making some big changes to its reporting framework.

Xero Accounting Software: Disadvantages

The problem isn’t that you will loose your clients, but this makes you look really bad in front of your clients that you are recommending a software that recommends other accountants outside your firm. This actually happened to me in Canada, and the response of the Canadian Xero team was simply that they didn’t intend on these promotions to be received by the clients of my firm. They didn’t care, they didn’t apologize, they didn’t even acknowledge what they did was wrong, it was evident that they prioritized their growth over their existing partners, at least in Canada. Even The Canadian director of Xero comments where limited to telling me ” I understand that you need to make important decisions in the best interest of your firm”. To me this was a clear message that he doesn’t care.As a small business the software was historically leading, recently, many clients are having issues logging into the system. The funny part is that the support they offer can only be accessed once you log in and recently the number one issue I hear from clients is that they can’t login.

The rep we spoke to was extremely helpful and offered a thorough explanation of Xero and its features. A nice aspect of Xero is how easy it is to set up. It gives you several starting tasks to acquaint you with the online accounting solution, such as connecting your business bank account, adding a customer and creating your first invoice.

The information is displayed on movable cards that allow you to arrange the dashboard to your liking. The cards also have quick buttons for tasks like creating an invoice or a new bill. Xero connects to your bank and credit card accounts and imports data daily. It protects your data with bank-grade encryption, and you can opt in to two-factor authentication to make your login more secure. If you add employees to your account, you can set user permissions to control the data they can access. As you create quotes and invoices, you can see how many of each item you have in stock, and if you enter more than this number, it alerts you with a red popup box. If you need to reorder inventory, you can easily create and send purchase orders.

The site is now integrated with Gusto, our Editor’s Choice winner for payroll, which gives it competent, comprehensive payroll management. There’s even a single sign-on option so you don’t feel like you’re working in two applications .

Product & company names, logos, and trademarks referred to on this site belong to their respective owners. If they have everything your company needs, I’d recommend them over QuickBooks Online in a heartbeat. Sorry to hear about your ordeal with Intuit … unfortunately, that seems to be a pretty common story. In terms of comparable software, Xero is the best I’ve found. I recently did a point-by-point comparison you might find helpful.