Apps have taken the world by storm and have completely transformed our lives. Able to help with everything from our health to our security, it is hardly surprising that they have had a profound effect on the world of business too. Some apps solve problems for us, while others make the task at hand just a little easier to manage. One app in particular, Xero, does both. Below is our review of the accounting app Xero.
What is Xero?
Xero, with the strapline ‘beautiful accounting software’, has been designed to help SMEs through cloud-based accounting software. They aim to have SMEs build relationships with their clients using an easy-to-access and quick-to-reach platform so that the all-important numbers can be accessed anytime, anywhere.
SMEs account for a huge number of jobs all over the world, and are regularly cited as the backbone of the economy, so it isn’t strange that Xero place a specific focus on these enterprises. But is it worth it for SMEs?
The benefits of using Xero
A quick Google search will show you that Xero is highly rated by thousands of customers worldwide, generally scoring between four and five stars. So what are its benefits?
Xero is detailed, extensive, and comprehensive, while maintaining simplicity and a streamlined nature. It offers a clean interface that will act exactly how you want it to, and also offers useful features such as multiple permission levels for different employees.
It will allow you to produce easy-to-process management reports, which can then be usefully exported to a number of different formats such as Excel, PDF, or Google Docs. It is also compatible with dozens of different add-ons, so you can tailor your Xero app to perfectly suit your particular SME.
Perhaps most importantly of all, it keeps in-line with important financing principles, helping to cut out a lot of the work that you need to do so that you can focus on other tasks at hand. Xero also offers support for a variety of different currencies and tax rates, so it will be highly adaptable should your SME have a global outreach.
The drawbacks of using Xero
However, there are some drawbacks to using the accounting app Xero. Some do report that despite Xero’s clean nature, its dashboard can, at times, be complicated to use. This is generally when you are attempting several tasks at once however.
Others have stated that Xero’s customer support is not at a sufficient enough level, which can be crucial for SMEs that need quick answers to important problems. However, it is only a small minority who believe that the service is not adequate enough, and every product or service can expect some complaints.
Finally, there is no negative inventory support, meaning that wholesale, demand or drop shipping industries may find little use for using Xero. Xero have acknowledged that their inventory support is somewhat limited, and have listed out what benefits they do provide in this area here.
Are there any alternatives to Xero?
While Xero is considered to be one of the best accounting software apps on the market, it is always recommended to shop around to see if there is a more suitable alternative for you. QuickBooks Online and Wave are just some of the other options available on the market, each offering a different style and service.
However, Xero has been designed exclusively for SMEs, and so in many ways it is the perfect solution for your accounting needs. They’ve grown rapidly since their launch in 2006, and now have over half a million subscribers. With this experience and large customer base under their belt, Xero makes for a great accounting app.
