Xero

Pros

With most clients abroads, we find its best to bill them in their local currency. Luckily for us, Xero is there to help sort our books out and keep them in order. It integrates with many bank feeds & popular wallets/fintechs like PayPal, Payoneer & TransferWise so accounts are upto date - always.

Another feature we really use is their tracking fields. Xero allows users to setup 2 tracking fields that can be added to invoices, expenses, bills and assigned to each line. This helps us keep track of project based work and has been our way since before Xero ventured into Project based accounting (that users need to pay additional fee for)

It also integrates with online payment gateways such as PayPal, Stripe, GoCardless, and a few others; thus payments are a breeze for clients.

As a non-accountant, Xero is easy to use even when you get into all the features it provides.

Cons

They have made some changes to their UI esp where invoices and expenses are concerned. Luckily for older users, expenses are still free however, for new users it isnt and each person filing expenses on it needs to pay a small fee. I think it should be free for a small number of users (atleast 2) and then charged.

Alternatives Considered

Reasons for Choosing Xero

Switched From

Reasons for Switching to Xero

Pros

What I liked most about Xero was the ease of use of the platform. The features are well organized and easily accessible, which makes it easier to manage my finances. I also appreciated the wide variety of features offered, especially in terms of inventory management and bank reconciliation. Finally, the customer service is excellent, with a responsive and competent team ready to answer my questions and solve my problems.

Cons

Although I am generally satisfied with Xero, there are some negative points to report. First of all, the cost of a monthly subscription can be quite high, especially if you use advanced features or if you need a large number of users. In addition, some features may be difficult to understand for novice users, which may require additional training. Finally, although the customer service is excellent overall, I have sometimes encountered longer wait times than expected to get assistance.

Pros

I like Xero because it's user friendly and it's commonly use by businesses.

Cons

It's a little expensive for me and for those who are in a start up business.

Pros

That Xero streamlines the process of generating financial reports like P&Ls and balance sheets is a major plus in my book. Cash flow can be monitored and controlled with little effort. This application is helpful since it makes it simple to keep tabs on and organize spending. Xero appears to make the task of reconciling bank accounts much less complicated.

Cons

The use of tracking categories is a necessary evil in the projects module. It would be great if the projects section was integrated with other apps, such as Expensify. Having various rate cards within the projects section would also be helpful.

Pros

To have all these tools from an accounting program that is an administrative program and a settlement program in one application. This is the best thing that an employee or manager can get.

Cons

I hope that the speed of settlements within the application will improve

Alternatives Considered

Reasons for Switching to Xero