We’re pretty excited about being ranked the top accounting software by Australia’s Software Shortlist. Xero was the only software to be rated 5 out of 5 stars in a list of 10 that includes most of the well known names around the world such as Clarity Accounting, Clearbooks, Kashflow, MoneyWorks Express, MYOB AccountRight Standard v19 (nee MYOB Accounting), Peach First Accounting 2010, Quickbooks Accounting, Saasu and Simply Accounting.
Software Shortlist has produced a Review Pack that looks at all 10 products for things like as ease of use, cost, reporting and feature set. The reviewer worked systematically and independently through a testing process involving a trial version of each software product, and a consistent set of user scenarios. These were designed to mimic the actions of a typical small to medium business, and provide a solid basis for the reviewer’s comments and ratings. The chart below shows how Xero scored.
Here’s what Software Shortlist said about Xero.
An online accounting product that is leading the field. Xero is a well-designed small business product that is easy to use and delivers world-class functionality. Compares very favourably against MYOB & QuickBooks, and an ever-growing range of online accounting solutions.
What we liked: You don’t need to look any further than the sophisticated banking module. With the ability to integrate directly with most major banks, providing direct transaction feeds, Xero has changed the bank reconciliation process forever. Our favourite aspect of Xero is the design of the user interface- simple and classy. Hands down the most user-friendly accounting software in our view. Multi-currency transacting further strengthens its feature set. The budget function, while basic, is very simple and allows for easy management of budgets and associated reporting. Xero further includes an expense claim module that makes it easy to enter staff expenses and pay them. A simple addition that is incredibly useful for small businesses. Finally, the help documentation includes video tutorials and demos which, in our humble opinion, is a much more effective way to communicate with their community.
What we didn’t like: Hard to fault! The biggest complaint is what they haven’t got to yet. Functionality-wise, this includes stock management. Further, Xero has chosen a partner model to deliver support (other than online), and direct support lacks any phone option which can be frustrating. Xero is also probably the most expensive online accounting solution around. And, finally, there are limited options for invoice look-and-feel, so if you are want your own invoice layout design then this will frustrate you.
Whilst we’re delighted with the review, we acknowledge that the reviewer didn’t like everything. For instance the look and feel of the invoice is something we’ve been working on and this will be revealed in our next release.