A great tool for any business to get a clear picture of its finances
December 17, 2024

A great tool for any business to get a clear picture of its finances

Nathan Littleton | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Xero

Xero gives me a full picture of the finances in my business. I use it for invoicing (and easy payment of invoices), financial reconciliation, reporting, payroll and VAT return filing. It helps me to understand my finances so that I can make better decisions and doesn't take that much time to maintain considering the wealth of information it then provides.

Pros

  • Repeating invoices (most of my business is monthly recurring invoices) - it does these very well.
  • Reporting - particularly being able to dig into the different lines of the P&L statement.
  • Tracking categories - I assign a category to every line of every invoice so it's easy to see how much has been sold of each type of service every month and year, and compare them to previous periods.

Cons

  • Inconsistent design - they're modernising, but this seems to be done section by section. For example, repeating invoices doesn't have the same design as the regular invoice creation page.
  • Mobile app - this is maybe understandable, but I can't do everything in the mobile app that I can in the web version.
  • Much less stress
  • Greater decision making ability
  • Useable by remote team members
  • Valuable insights
Generally very good, it's just the inconsistent design that scores it down a little. I'd maybe like to see more areas simplified but then be able to click to see more advanced features or add more detailed information.
I never used the old Sage or similar that would have been workstation based, so my only comparison is with our old spreadsheets - this is, of course, much better than that. Being cloud-based does help considerably though. We have a remote team, and this aids being able to have multiple people in remote locations have access.
I'd say there could be more integrations offered, but I've successfully integrated Stripe, GoCardless, Capsule CRM and others with success. The integration process has always been smooth and without error. No reason to complain here.
No others used

Do you think Xero delivers good value for the price?

Yes

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?

Yes

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I've been using Xero for more than 10 years, and before that relied solely on spreadsheets. It's immeasurably easier now - a key part of that is that Xero pulls in my bank account feeds and I can just assign a contact and a category to each transaction. I'd say it's ideal for businesses of any size, and I can't think of a scenario or business type it wouldn't be suitable for.

Xero Feature Ratings

9.3
Accounts payable
Not Rated
Accounts receivable
10
Cash management
9
Bank reconciliation
8
Expense management
9
Time tracking
Not Rated
Fixed asset management
Not Rated
Multi-currency support
Not Rated
Multi-division support
Not Rated
Regulations compliance
Not Rated
Electronic tax filing
10
Self-service portal
10
Global Financial Support
Not Rated
Primary and Secondary Ledgers
Not Rated
Not Rated
Inventory tracking
Not Rated
Order Management ()
Not Rated
Payroll Management ()
Not Rated
8.7
Dashboards
7
Standard reports
10
Custom reports
9
8.0
Plug-ins
8
8.0
Role-based user permissions
8

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