Xero, the name is quite big in the field of online accounting. The cloud based accounting software helps you build better relationships and serve your clients in a better way. This Xero review will take you to the depth of this cloud based accounting software.
Xero was founded in 2006 and it has come a long way since then, 2016 saw some of the best and major updates in Xero like Paypal integration, Office 365 integration, direct bank feeds with Wells Fargo and many other.
Xero Review-Features Discussed in Details
Xero gives you more than 30 mind blowing features including cash flow, invoicing, multi layer security, payments, reports, contacts, free support and help, mobile optimized features, multi currency and many more. We'll be discussing them in details below.
1.) Free 30 Day trial
The best part about this one of the best accounting software is that it lets you try it full features for 30 free days and you don't even need to provide your credit card details
It's in the business of online accounting since 2006 and it has surely won hearts of many and the subscriber base of this software is damn too high which in itself says a lot about about the trustworthiness of this reputed brand.
3.) Multi-Currency Accounting
Xero is among those few online accounting software which is fully functional multi currency implementation and this makes a huge difference.
The best part is it's real time which makes it's easier to calculate profit and loss and balance sheet, all foreign currency transactions are converted to local currency using this real time feature
4.) Cash Coding
This simply means super fast processing in bulk. Xero allows the rapid coding of a large number of transactions from imported bank statement lines or bank feeds.
It gives you feature to select accounts and tax rates for multiple statement lines at the same time.
5.) Bank Reconciliation
This gives relief to many since it connects the bank feeds into Xero. Your financial transactions are automatically imported into Xero by connecting the bank feeds and they are further linked to corresponding accounting transactions.
Now there comes a genuine question from users "What if I want to import feeds from more bank accounts, credit cards and Paypal accounts?". The answer to this question is, XERO can do this in a couple of minutes.
It also gives you authority ti create custom rules to match bank transactions automatically to invoices, bills and purchases recorded in Xero.
6.) Find and Recode
Now what does "Find and Recode" do? This feature lets you update up to 2,000 line items at once. Did you just said "WOW". It indeed is a feature worth appreciation.
You can easily update accounts, tax rates, tracking and contacts on both paid and unpaid transactions.
You can simply do hours of work in a couple of minutes with "Find and Recode" feature.
7.) Payments and Invoicing
Another game changer element in Xero accounting software. Invoicing and payments helps you get paid on time.
You can send an email to your customers which will have a live invoice which will include the details of up to date payment status, history and a Pay Now button which can accept payments by credit/debit cards and Paypal.
You can also track those invoices which makes it easier for you to know that whether the recipient has seen your invoice or not, you can also see when was it received and opened and then send an automatic reminder for unpaid invoices.
8.) Accessible on Mobile
You can't carry your laptop everywhere with you but you can definitely carry Xero with you in your mobile phone.
Work with Xero's mobile app, raise invoices, manage contacts, capture expenses, reconcile your bank transactions to your sales and purchase activity, all of these within your mobile phone.
9.) Payroll and Accounting
Do it together. Making payments to employees, track working hours, approve time off, all of this is easy with Xero, all while automatically calculating the appropriate tax, this feature can help business get rid of some stress.
But wait, this doesn't end here. Even employees gets benefited here, they can use Xero me, which is a mobile app for employees, using which they can view pay slips, apply for time off and submit timesheets.
10.) Assurance Dashboard
Xero's assurance dashboard keeps you safe from errors and potential frauds earlier.
How? For example:
- Confirm if any suppliers have duplicate bank account numbers or if those accounts have been recently edited.
- Drill into invoices or bills that have been backdated or edited
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Does this end here? No it doesn't. Xero has still lot more to offer. If you want then you go for a RISK FREE trial account and try it for complete 30 days.
Hope this Xero review gave you a complete insight of one of the best accounting software present in the market, if not then above is the free trial button, check it out.