Xero

Vorteile

Professional double entry software at a very affordable price
Accommodates both cash and accrual accounting
Links to financial institutions to get transactions
Uses standard importer recognized by the financial institutions instead of just trying to log in remotely (and triggering fraud alerts)
Can match multiple invoices to a single deposit transaction imported from bank
Can keep using Xero as company grows

Nachteile

Pre-existing expense categories/descriptions don't map 1:1 with IRS definitions, so I'm having to go back to all my receipts to make sure expenses are entered in proper accounts because I didn't realize this when I switched
More difficult to focus on specific expense categories to check transactions
Have not been able to import historic data from previous app (possibly because it's not double entry) so I am still paying the subscription on that software to retain access to my data
No integration with Craftybase, so I have to enter supply purchases and customer invoices there independently

In Betracht gezogene Alternativen

Warum Xero gewählt wurde

Zuvor genutzte Software

Gründe für den Wechsel zu Xero

Vorteile

Xero makes managing the finances for a business really straightforward. The user interface is intuitive and it centralises all my accounts information.

One of my favourite features is the the dashboard, which is clear and customisable, and gives a great summary of the position position at any time.

The software also integrates really well to other platforms for things like receipt capture and detailed business analysis.

Nachteile

I'm really happy with how it performs, however, our bookkeeper still does some levels of manual reporting, which he finds easier in Excel, than in Xero. The integration of BA tools does negate this issue.

In Betracht gezogene Alternativen

Warum Xero gewählt wurde

Zuvor genutzte Software

Gründe für den Wechsel zu Xero

Vorteile

It's easy to learn, very strait forward.

Nachteile

when a bill or invoice is larger then 2 pages, if you save, you will not be able to edit, approve or print.
also putting in a ticket for a fix is completely useless the responding staff care and are friendly- but the problem does not get fixed.
I've put in several tickets.
I've always had to find a work around, no one has ever fixed my problem

Vorteile

Xero is very easy to navigate around and is user friendly. Even a non-finance employee is able to use Xero. The product is able to integrate seamlessly with a school management system importing invoices and contacts which are managed in the school management system. The integration is almost automatic and does not require a user to sync. AMAZING PLATFORM!

Nachteile

Nil - Honestly there is nothing I dislike about Xero.

In Betracht gezogene Alternativen

Warum Xero gewählt wurde

Zuvor genutzte Software

Gründe für den Wechsel zu Xero

Vorteile

What I like most is that it has access to realtime feeds from all the company accounts. This is futuristic stuff in my country of Hungary. But I can look at all my balances and see if I have enough money for a purchase or not.

Nachteile

It doesn't really handle subscriptions well... and you guessed, it, I sell subscriptions. What is the least favorite part is the reconciliation. I sell the same thing, many times (as you do with subscriptions) and there is no way that I found where I do not have to take the so many hours of reconciling everything manually. So there might be automatic invoicing (which I couldn't really use) and manual reconciliation.

There is no such thing as group reconciliation:

All the parties that bought in May for 10 usd should be reconcilied one '10 usd' invoice for may.

That would save so much time. Xero, please do that.

I also hate that products are mandatory. If a client orders something, in a new combination, or asks for a penny discount it is a new product. Why cannot I just invoice John for 14.57 dollars, why do i need to add the 14.57 product?

I understand you are trying to be smart, xero, but please keep the dummy functions. I am a dummy. I need them.

Lastly, according to my current knowledge, it does not integrate with payment providers like stripe or braintree without zapier - which is another subscription cost. Here I want to cut Xero some slack, it is not only their fault, but the payment provider's fault as well, and I am in deep conversations with them on what can we do.