Xero Accounting Software Review

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Xero Accounting Software Review

Xero Accounting Software Review 


I’m with you. As a small business owner myself, I know how complicated financials can get. Luckily for us, Xero decided to push the business giants aside and focus on us. They want to see us succeed. They want our lives to be simpler and they want to save us money. If you’ve read my stuff before you know I like to take an honest perspective on things, and the truth is that if you’re running a smaller business, Xero Accounting Software should be at the top of your tool list.

There’s a lot of accounting software out there that has a less than stellar reputation. In my opinion, it’s because other software do not cater to a group of people.Xero Accounting Software might have a bit of a crush on the 5 or less person business because they pamper us with every feature that you can think of. Let’s look at the some of the ways they capture our financial hearts.

Features

General Features

I know, usually when you see someone talk so highly of a product the first question that comes to your mind is, “How much?” Don’t worry, we’ll get to that (Hint: It’s going to shock you). Here are some of the things I LOVE about Xero and features that other people go crazy over.

Easy to Use Dashboard:

An unbelievably well thought out and user friendly platform that displays accounts, payables, and receivables.Xero Accounting Software has an easy to use dashboard that gives you quick access to important areas of your account.

Online Account:

You can log in from anywhere at any time to see up to the second business financials and transactions.

Easy Invoicing:

Create professional and modern looking recurring invoices that deliver personal updates when opened.

Smart Reports:

Amazing! You don’t have to wait until the end of the month. Review interactive reports and your budgets in real time, up to the second.

Payroll

Combined with all of the accounting, it’s easy to pay employees and eliminate tedious data entry. You can easily track attendance information and monitor employee productivity.


Accounting Features

Let’s dive into a few accounting features that I love most about Xero Accounting Software.

Accounting Basics

When I use any accounting software I always ensure it has these essential accounting basics; accrual accounting, the ability to make journal entries and create chart of accounts. Xero has these basics covered and lots more. I know what you’re thinking, so what if Xero Accounting Software has these features, what does this mean to me?
Well having these accounting basics covered means you are able to produce accurate Profit and loss and balance sheet accounts. In other words, you can accurately use Xero to understand how much money your company makes and how much money your company is worth.

Bank Reconciliation

What I LOVE most about Xero is how stupid easy it makes bank reconciliation. With Xero, you can easily reconcile your bank account with the click of a few buttons. All your transactions from your bank account can be automatically imported into Xero if you set up a bank feed. Even if you cannot setup a bank feed, perhaps because your bank does not integrate with Xero, Xero has this cool feature that lets you import your bank statements direct into the software. I’m all about elimination manual transaction entry and I find this feature quite useful.

Cash Coding in Xero

The cash coding tool provides advisors and accountants a fast way than ever to reconcile transactions in bulk, thus reducing the time it takes to work on clients’ accounts. An easy way to use cash coding is to sort and  group similar items together, complete the details for the first line and voila, Xero automatically completes the rest. Cash coding in Xero is a feature I absolutely cannot live without!

Pricing

When I first started researching Xero Accounting Software, I read other reviews, studied the features, and guess what? After spending 2 minutes on the website, a live chat popped up and answered all of the questions I had. They directed me towards features that were catered to my business and offered a perfect package. Here are all of the packages they deliver at the time of writing this article.

Starter – $20/month

This package is recommended for busy freelancers, realty investors, and some smaller entrepreneurs. It allows 5 invoices and 5 bills each month, and reconciliation of 20 bank transactions. You’ll also get 1 GB of online file storage in the accounting cloud.

Standard – $30/month

If you operate a small business or a busy online company this package is perfect for you! You get unlimited number of invoices, bills, and transactions included. Better than that though, you are now able to process the payroll of up to 5 employees. The 5 GB of online storage that comes with this package is more than enough for years of financial documents.

Premium – $40/month

Maybe you love all of features the above packages offer but are bigger than 5 employees. No problem! In addition to enhanced features, this package supports multiple currencies, 10 employees, and 10 GB of online file storage.

What Makes Xero Accounting Software Stand Out?

I love this software! For that reason, I might be a bit biased. What other people are saying though is just as incredible. People just like you are going nuts over the ease of setup, organization, instructions, how much time it saves, the features, and most importantly the customer support. Xero representatives are unique in their ability to ask questions that they use to deliver you the best possible solution and save you the most money.

My Final Rating

Xero has seductively earned 10 out of 10 stars from me. When compared to QuickBooks, Xero users rave over its quality. If any of the above is what you’re seeking, I have a HUGE surprise for you. Xero is so confident in their ability to deliver flawless accounting services and incredible customer support that they are giving you 30 days at absolutely no cost. My advice, sign up before that opportunity disappears.


 

By | 2017-12-25T10:59:06+00:00 October 18th, 2015|Accounting|0 Comments

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