Xero’s Main Features
- Xero allows business owners to invoice, enter expenses and track cashflow on the go.
- Xero online accounting software can create and send invoices automatically and the invoices can then be paid online
- Xero’s dashboard allows you to get an instant picture of your sales, invoices out and bills. Giving you an up to date view of your current cashflow
- Payroll – easily enter a pay-run and print employee payslips. For more complex payroll requirements there are numerous add-on services too
- Free, unlimited online support available around the clock
Xero Reviews
A Xero Review From JoineryWorkshop.com
Tell us a little about your company.
Established in 2006, Joineryworkshop.com has established a distinguished record of providing single and double-glazed, traditional sash and casement windows to British period property. Whether it’s restoration or double glazing of existing windows or complete replica replacement, we provide the bespoke solution that your period property requires.
If you would like to find out more you can follow them on Twitter.
What prompted you to go for a cloud accounting solution?
My business was growing at such a rate that real-time cash flow management had become a necessity. It was no longer possible to wait for my accountant to produce the figures – I needed to know things as they happened. Good cash-flow management is vital to any business experiencing rapid growth and Sage was simply not up to this task.
The great thing about the cloud is you can access the system anywhere and anytime … You can reconcile your bank account on your smart phone in bed at 1am; you can see the value of invoices raised on a given day whilst half way up a mountain in Bulgaria; If the office has a power cut then you can work from home – still with full access.
What was your accounting set-up prior to moving over to the cloud?
Sage and a 3rd party bookkeeper
How did you find the transition from your old set-up to a cloud solution?
Relatively straightforward. The biggest problem was getting information out of our old accountant
Did you consider any alternative cloud accounting solutions before deciding on Xero? And, if so, what made you go with Xero over the others?
When selecting which cloud based accountancy package to go for we considered several options. What made me select Xero was its superior level of 3rd party integration i.e. bank feeds; credit cards; CRM systems; HR systems etc. There are literally hundreds of 3rd party software providers using Xero.
What would you consider have been the main benefits of moving your accounting to Xero?
Cloud computing is the most exciting thing to happen to small businesses since the end of world war 2!
Managerial time saved both in cash-flow management and profit analysis.
Increased financial control
The simplicity of the system allows many employees to work directly with the accounting system thus improving their awareness of profitability and cash-flow
Have you had any issues with Xero or are there any features missing that you would like to see included?
Some of the bank feeds could work better. It’s quite difficult to work out which ones are seamless and which ones are temperamental – trial and error being the only real method. However, their helpdesk has proved excellent, you can always get there in the end – even with the tricky ones.
A lot of small business owners we have spoken with intimated that a fear over security of their data or what would happen in the event of a server loss has been putting them off going with a cloud solution, did this factor in your decision making?
I find this argument slightly ridiculous. As a small business, any solution you create yourself is going to be far more vulnerable than a solution created by a huge multi-million pound organisation with teams of developers working 24/7. Personally I have found the cloud to be more reliable and secure than our local solution.
What would you say to any small business owner who is currently on the fence over whether to use a cloud accounting solution?
It’s a no brainer. The cloud is cheap to adopt, will grow with your business, future proof, but perhaps most importantly of all – very often significantly better than the bespoke solutions a blue-chip competitor is currently working with – in other words it can give you a competitive advantage over the big boys!
Do you use any other aspects of cloud computing (data storage, Customer Relationship Management etc)?
We use Google Apps – Gmail, Calendar, Google Drive, Google Sheets, Google Docs, etc; Dropbox; Payeroo; WordPress; Twitter; Facebook; Linkedin; and we are currently evaluating Capsule CRM and Order Harmony.
A Xero Review From Satora Limited
Tell us a little about your company.
I run three businesses under the Satora Limited company. A paragliding training operation where I get to throw my customers off mountains, a retail business selling equipment for that sport and I also run a bed & breakfast. Soon to add another business called Secret Wales.
You can find out more about the paragliding company andbed and breakfast on Facebook.
What prompted you to go for a cloud accounting solution?
I changed to from a PC to a Mac and Quickbooks wouldn’t run on it.
What was your accounting set-up prior to moving over to the cloud?
Quickbooks desktop.
How did you find the transition from your old set-up to a cloud solution?
Simple. Just export items, customer and supplier lists from Quickbooks and import them into Xero.
Did you consider any alternative cloud accounting solutions before deciding on Xero? And, if so, what made you go with Xero over the others?
Xero seems to have won a lot of awards and 200,000 users says a lot. The free ones sound attractive but if the product is free, how do they make their money? I would rather pay and hopefully know the company will still be here tomorrow.
What would you consider have been the main benefits of moving your accounting to Xero?
For twenty years I’ve sat there with bank statements and pen, ticking items off when I can find them on the accounts. I have always truly hated this. Xero actually makes this fun.
Up to now, it seems incapable of allowing you to make the smallest mistake. Being able to access anywhere is good. But the big one for me is live bank feeds with amazing reconciliation features. For twenty years I’ve sat there with bank statements and pen, ticking items off when I can find them on the accounts. I have always truly hated this. Xero actually makes this fun; just click away on your mouse whilst holding a cup of coffee in the other hand. Its ability to match bank records to invoices is incredible.
Xero also sends a weekly email telling me what I have to action in my accounts. Like I said, it won’t allow you to forget anything!
Have you had any issues with Xero or are there any features missing that you would like to see included?
When I first looked at it, it looked too simple so I was thinking ‘accounting for dummies’. It didn’t take long to work out it could be just that simple if you wanted it but burrow into it and it will give you everything. I’m currently looking at the multitude of bolt ons for eBay and Amazon feeds etc.
A lot of small business owners we have spoken with intimated that a fear over security of their data or what would happen in the event of a server loss has been putting them off going with a cloud solution, did this factor in your decision making?
No; get used to it. Its the future. Saying that, looking at the help page, I get the impression a backup all function is in the pipeline.
What would you say to any small business owner who is currently on the fence over whether to use a cloud accounting solution?
Let software make your life easier because you’re going to need all the help you can get. Xero does it all and their after sales respond within a few hours and are very helpful people.
Do you use any other aspects of cloud computing (data storage, Customer Relationship Management etc)?
I use a few Google apps with the main one being a task manager, Gqueues and I highly recommend that as well.
A Xero Review From Net Primates
Tell us a little about your company.
Net Primates is an IT, Telecoms and Wireless company based in Southampton, Hampshire. Our services include installation and maintenance of VoIP Telephony Systems, large scale WiFi networks, IT services and Internet Connectivity. Our global client base consists of Residential users, SME’s with 1-100 employees and Large Enterprise’s with networks supporting 1000′s of users.
Net Primates is an IT, Telecoms and Wireless company based in Southampton, Hampshire. Our services include installation and maintenance of VoIP Telephony Systems, large scale WiFi networks, IT services and Internet Connectivity. Our global client base consists of Residential users, SME’s with 1-100 employees and Large Enterprise’s with networks supporting 1000′s of users.
You can connect with Net Primates via their Facebook page or on Twitter.
What prompted you to go for a cloud accounting solution?
We are very much about being connected and in touch with our business anywhere in the world, be it email or phones. We found that our current accounting package (Quickbooks) was just not up to the job, we operate across multiple operating systems and multiple sites and Quickbooks just wasn’t growing with our business.
What was your accounting set-up prior to moving over to the cloud?
Quickbooks Pro, single user via RDP using a Windows 7 machine allowing us to access from anywhere and any operating system.
Quickbooks Pro, single user via RDP using a Windows 7 machine allowing us to access from anywhere and any operating system.
How did you find the transition from your old set-up to a cloud solution?
We found it relatively easy, we imported some data using CSVs and chose to manually import other parts, we used the exercise to clean out some of our old out of date data. The ability of our accountant to login remotely was also a great help when we experienced the odd hurdle during the migration.
We found it relatively easy, we imported some data using CSVs and chose to manually import other parts, we used the exercise to clean out some of our old out of date data. The ability of our accountant to login remotely was also a great help when we experienced the odd hurdle during the migration.
Did you consider any alternative cloud accounting solutions before deciding on Xero? And, if so, what made you go with Xero over the others?
Not really, we had heard of the others but we know of other organizations using Xero and how well it works for them. The feedback we received from them was enough to make the decision for us.
Not really, we had heard of the others but we know of other organizations using Xero and how well it works for them. The feedback we received from them was enough to make the decision for us.
We have seen such an improvement since we moved to Xero, our Bank Rec is always up to date, we are on top of our debtors and our recurring invoices just go out automatically without any manual input.
What would you consider have been the main benefits of moving your accounting to Xero?
Complete visibility of our accounts, Quickbooks required so much manual input including Bank Reconciliation that it got out of date really quickly. We have seen such an improvement since we moved to Xero, our Bank Rec is always up to date, we are on top of our debtors and our recurring invoices just go out automatically without any manual input.
Complete visibility of our accounts, Quickbooks required so much manual input including Bank Reconciliation that it got out of date really quickly. We have seen such an improvement since we moved to Xero, our Bank Rec is always up to date, we are on top of our debtors and our recurring invoices just go out automatically without any manual input.
Have you had any issues with Xero or are there any features missing that you would like to see included?
The from email address for sending invoices via email, by default Xero emails out the invoice from the email address of the user logged in and creating the invoice. This is a bit of a pain but we have created a work around until Xero release their planned feature update which will address this issue.
The from email address for sending invoices via email, by default Xero emails out the invoice from the email address of the user logged in and creating the invoice. This is a bit of a pain but we have created a work around until Xero release their planned feature update which will address this issue.
A lot of small business owners we have spoken with intimated that a fear over security of their data or what would happen in the event of a server loss has been putting them off going with a cloud solution, did this factor in your decision making?
We are confident that Xero have the infrastructure in place and the knowledge to maintain a stable and secure setup. We also have a number of offline backups of certain systems should we require it.
We are confident that Xero have the infrastructure in place and the knowledge to maintain a stable and secure setup. We also have a number of offline backups of certain systems should we require it.
What would you say to any small business owner who is currently on the fence over whether to use a cloud accounting solution?
Do it! It has transformed our business, we have more than halfed our overdue accounts with improvements in our cashflow seen almost immediately. We have implemented Direct Debit collection with automatic intergration into Xero. All of our staff have visibilty of the relevant parts of the Accounts allowing them to make sure customers have up to date Accounts. If you have any questions Xero staff are quickly on hand to assist.
Do it! It has transformed our business, we have more than halfed our overdue accounts with improvements in our cashflow seen almost immediately. We have implemented Direct Debit collection with automatic intergration into Xero. All of our staff have visibilty of the relevant parts of the Accounts allowing them to make sure customers have up to date Accounts. If you have any questions Xero staff are quickly on hand to assist.
Do you use any other aspects of cloud computing (data storage, Customer Relationship Management etc)?
We use Capsule CRM with integration into Xero.
We use Capsule CRM with integration into Xero.
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Interview With an Award Winning Xero Certified Advisor
Tell us a little about yourself, your business and your experience with cloud accounting.
I started my business as a self-employed bookkeeper, most of my clients used MYOB or spreadsheets. When the UK division of MYOB was sold, I was searching for something suitable for my clients when one of them asked me to look at Xero. That was in 2009 and I haven’t looked back since. I instantly fell in love with it! No more exchanging back ups to work on the accounts, both the client and I could work on them at the same time if necessary. No more discovering there was no recent back up saved before the server crashed. And, more importantly, the client could understand the screens in the software and began to take an interest in their financial situation, making my job much more pleasant. I soon found people and companies were interested in having someone show them how to use Xero accounting software, which is when I began offering training, on site and by webinar. I enjoy training even more than bookkeeping so this is where Totally 4 Business now specialises.
I started my business as a self-employed bookkeeper, most of my clients used MYOB or spreadsheets. When the UK division of MYOB was sold, I was searching for something suitable for my clients when one of them asked me to look at Xero. That was in 2009 and I haven’t looked back since. I instantly fell in love with it! No more exchanging back ups to work on the accounts, both the client and I could work on them at the same time if necessary. No more discovering there was no recent back up saved before the server crashed. And, more importantly, the client could understand the screens in the software and began to take an interest in their financial situation, making my job much more pleasant. I soon found people and companies were interested in having someone show them how to use Xero accounting software, which is when I began offering training, on site and by webinar. I enjoy training even more than bookkeeping so this is where Totally 4 Business now specialises.
From our survey the number one factor putting small businesses off a cloud accounting package is a fear over security of their data, how secure is Xero?
In a nutshell, Xero is as secure as online banking. Xero have published many blogs about the different aspects of security but this is the page that answers most questions about security on their website. Xero continually back up the data so that you don’t have to but it is still possible to download data into excel and store it on a disc yourself.
What are the main benefits of switching to Xero from a more traditional desktop software package?
Xero is online so is available from anywhere there is internet access, on your computer, laptop, tablet or smartphone. You can invite as many users as you like into your account without having to purchase any more licenses and without any extra fees. Bank feeds can be fed directly into your account on a daily basis so that your accounts can be kept completely up to date. Personal expense receipts can be photographed on a smartphone and sent directly into the main Xero account which means no more missing receipts. Xero update and improve their software every six to eight weeks and back up all data everyday, all included in the monthly subscription price.
Xero is online so is available from anywhere there is internet access, on your computer, laptop, tablet or smartphone. You can invite as many users as you like into your account without having to purchase any more licenses and without any extra fees. Bank feeds can be fed directly into your account on a daily basis so that your accounts can be kept completely up to date. Personal expense receipts can be photographed on a smartphone and sent directly into the main Xero account which means no more missing receipts. Xero update and improve their software every six to eight weeks and back up all data everyday, all included in the monthly subscription price.
Why would someone go down the route of having to pay every month to access their data? A spreadsheet is free and desktop software is a one-off payment?
A spreadsheet is free and is perfectly adequate for a straight-forward small business but spreadsheets can start to get numerous, complex and time-consuming as a business grows, especially when VAT registered. Desktop software is a one-off payment for one version. To use upgraded software, further purchase is required. The same applies when you require further licenses for more staff as the business grows. Often, your accountant also needs to run the same version of the same software in order to be able to access your data. Comparing the monthly subscription cost for Xero which is easy to use, saves bookkeeping time, for as many users as you like, includes regular upgrades and back ups, as well as being able to access your data from wherever and from whatever device you choose against spreadsheets and desktop software is more than likely to be favourable.
What would make you recommend Xero over other cloud solutions like Kashflow or Freeagent?
I have only ever used FreeAgent when converting data over to Xero for clients. As far as I have seen, FreeAgent is a good cloud accounting solution for sole traders, as the name suggests, without any prior knowledge of bookkeeping, accounting and the taxes a business is required to pay. Mostly due to the reporting available, sole traders/small businesses can outgrow FreeAgent whereas Xero can serve them throughout. I also believe that there are many more add-ons available to integrate with Xero than FreeAgent.
I have never used Kashflow so I can’t comment.
How easy is Xero to use? If a business owner has zero experience in bookkeeping or accounting will they require help to use it?
Xero is incredibly intuitive and easy to use. But I do think it is advisable for a business owner with zero (or very little) bookkeeping knowledge to have some guidance or help to use it because, as with any system, it will be useless if you enter incorrect information. Personally, I have found that I can train someone to use Xero on a basic day to day basis, along with simple bookkeeping, in approximately two hours. It is perfectly possible to teach yourself to use Xero from their very informative help centre and short video guides but this will take much longer than learning from an advisor.
Does Xero handle Payroll?
At present, in the UK, Xero does not handle payroll. Xero is actively looking for a payroll partner in the UK. There are several payroll add-ons that integrate with Xero which means that the payroll is calculated in the add-on system and the journal is then automatically sent to your Xero account. The UK version of Xero accounting software does have the ability to record the payroll details against each staff member and to create wage slips.
Is it possible to have multi-users in Xero Accounting Software? And if so is there a way to see what data has been added or changed by a particular user?
It is possible to have multi-users. Each user had their own unique log in. Each time a user creates or changes transactions a note is attached to it and available for other users to see
I have no problem with security, in some ways I think it’s safer than having your data on a desktop my main concern is continuity of service. What would happen to my data in the event of a major server loss or, as unrealistic as it may seem, the company going bust?
I also believe, especially for small businesses, that the data is more secure in Xero than on desktop software where you are responsible for the back up of your data and the reliability of your server. If you are particularly concerned, as I mentioned before, you can download your entire general ledger into excel to store however you wish.
I also believe, especially for small businesses, that the data is more secure in Xero than on desktop software where you are responsible for the back up of your data and the reliability of your server. If you are particularly concerned, as I mentioned before, you can download your entire general ledger into excel to store however you wish.
This is how Xero responded to some high profile company security failures.
Does investing in Xero mean I no longer need an accountant or bookkeeper?
No! The majority of businesses require an accountant, even if only to make sure the accounts are correctly filed every year. The advantage with Xero is that you can use it alongside your accountant who should then be able to offer you financial advice on how to grow your business and make the best decisions. You can build up a relationship instead of just dropping everything off at year end and hoping there won’t be too much tax to pay! With Xero, you may be able to manage without a bookkeeper if you’re confident with your own bookkeeping skills. But, a bookkeeper is probably more skilled than you are, it is what they do all day every day. Although it is extremely important for you to know the financial situation of your business, your time should be spent running it, doing what you do well. Again, with Xero, you can build a relationship with your bookkeeper who can then point out abnormalities in your finances and anything that should be referred to your accountant in order for your business to grow smoothly.
One of our aims is to go as “paperless” as possible can I tie Xero in with other apps like a CRM, a quotation tool and inventory management?
Yes, you can. There are plenty of add-ons you can integrate with Xero accounting software with more being added continually. Xero has an open API and encourages other apps to integrate with them.
Is Xero suited for a particular type of business or industry? Or, alternatively are there any instances where Xero would not be a recommended solution?
Xero is suited to many types of business and industry. Personally, I have worked with companies successfully using Xero from the following; Digital Marketing, Design, PR, Specialised Joinery, Retailers, Landscape Gardening, Nursing Homes, Virtual Assistance, Surveyors, Solicitors, Plumbers, Training and Coaching, Bookkeepers and Accountants (of course), Dental and GP Practices, Kennels and even a private airline pilot.
There are bound to be companies where Xero is not suitable, usually due to a specialised requirement that is not a facility within Xero. I would always suggest talking to a Xero Advisor and testing the system with a free trial.
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