Topic: General Posts

Subject: XERO Accounting software
Mauricia Cebulec-Gardner
Member: 2012
Posts:2
Submitted on 09-08-17 12:35 pm
Message:

 


Hello everyone


 


I’d love to hear from anyone who currently uses Xero as their accounting software - https://www.xero.com/uk/features-and-tools/accounting-software/


In particularl if you work in financial services (NB the software would be used just for internal finances, preparation of P&L, BS, CF, VAT returns etc.)


 




  • Would you recommend it?




  • How does it compare to more established solutions such as Sage?




  • Is the software a standalone solution? 




  • Did you use a company to implement the transition or was it simple enough to do it inhouse?




 


Please feel free to contact me directly or reply to me on the Forum.


 


THANK YOU!


 


Mauricia


+44 (0)7780 111 380


 

 
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Replies
Michael Ware
Member: 2012
Posts: 2

Subject: Re:XERO Accounting software

Submitted on 09-12-17 7:36 am.
Message:

Mauricia,


Its similar to Sage, not keen on it my self but I would suggest you drop Rohan Badenhorst a line (rohan@3resource.com) with your questions as he uses it more often than I do.


Mention that I suggested it, Rohan is a prospective for the FENG.


Kind Regards


Michael


 


 


 

 
Tim Taylor
Member: 2016
Posts: 3

Subject: Re:XERO Accounting software

Submitted on 09-13-17 3:47 am.
Message:

It is a very nice cloud based accounting software.  Depending on sophistication of the enterprise i.e. if the business in question is not over 20 million in revenue I would suggest that Xero could be a viable solution.  Although the system is a standalone system there are hundreds of add on applications from third parties that are available and relatively seemless integrations.


 

 
Eric Stevens
Member: 2011
Posts: 12

Subject: Re:XERO Accounting software

Submitted on 09-25-17 10:42 am.
Message:

Mauricia,  I would be interested in learning any feedback you might receive on Zero.  I too am looking for G/L software recommendations for a $20M ARR Call Center provider.   We have looked into NetSuite, Intacct, MS Dynamics 365 and a couple of others.  Eric

 
Mauricia Cebulec-Gardner
Member: 2012
Posts: 2

Subject: Re:XERO Accounting software

Submitted on 09-25-17 1:52 pm.
Message:

Dear Michael, Tim and Eric


Thank you very much for your input!  Sorry I did not reply before, but life is a bit hectic (and I did not see your replies…)


I downloaded the software to check it out (you get a month free).  It’s very intuitive and quite easy to use.  I found some minor issues with it, but when I phoned the support team, they were very helpful.


Spoke to others who use it and was pleasantly surprised by their response. In particular a large Asset Manager with operations in 3 geographical locations (and a holding company). Their CFO said he finds the software brilliant for consolidations and multi-currency accounting but he said he never used Sage so he could not compare.  I must say I was somewhat taken aback by his enthusiasm.


On the basis that I would use this for a small company (10 employees) on 2 geographical locations, with simple accounting (used for the investment manager operations and not for fund accounting):


Pros:


·         Easy to use (especially for non-accountants). very intuitive, I did not need much help in navigating and uploading our data


·         Cloud based (great for BCP and off site working)


·         Very handy app for your mobile which can also import photos of receipts


·         Dashboard screen with all the key information readily available (on your mobile as well)


·         Last, but not least - cheaper than Sage


 


Cons:


·         It felt a bit too simplistic (form over substance)


·         As I work in the regulated arena, I still feel I should double check that it complies with all the FCA regulation on data security etc. (I did not look into this)


·         I cannot see this as a solution for a business with loads of transactions, stocks etc.  but I might be wrong


In conclusion, we will stick with Sage until the year-end (mainly because our auditors were freaked out by the prospect of changing mid-year) and revisit.  I agree with Tim - for a small business it a viable solution and for us a very strong contender.


 


Message to Michael


Thanks Michael, in the end I did not call your contact, but thank you for the introduction.


 


Message to Eric


Hi Eric


I am not familiar with your line of business and I have only used NetSuite from the list of software solutions that your listed so cannot really comment on any others.  My first impression is that NetSuite is more robust and better suited for complex operations.   I strongly suggest you check it out for yourself as you can download and try xero for a month without subscribing. 


THANK YOU ALL FOR YOUR HELP.


Greetings from an overcast London.


 


Mauricia

 
David Fowler
Member: 2004
Posts: 3

Subject: Re:XERO Accounting software

Submitted on 10-02-17 12:35 pm.
Message:

Mauricia,


As transplanted Brit in hot and humid Houston I sometimes (but only summertimes) miss those overcast English days!


Support is critical and another cost to consider if switching. My experience ranges from:


We used MS Navision at a former company which we grow from nowhere to $200 million and Inc. 500 in three years and I found it very easy to use and could drill down to one step short of reading the actual invoice in managing three $40 million divisions that I ran. Ran my own analyses, didnt need dedicated personnel and clearly was scalable with our growth. We had one Navision guru in the corporate accounting team.


Conversely, at my most recent company (about 1/4 size and as its CFO) I inherited Netsuite. It's supposed to be #1 in the mid-market space but we found it could not run comparative reports beyond a certain limited depth; I also ran IT and inherited a full time $$$ employee dedicated to mantaining Netsuite and reports for various departments! We created lots of custom queries / reports for regular use but still seemed I frequentlyhad to get him to run special ones each time did any major drill down. I had previously met and then even sat next to Netsuite's Regional VP at FEI meeting where she publicly acknowledged to our table that she still owed me return calls on several issues on which I'd pinged her. Never got those answers or calls! 

 
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