Is Xero Your New Accounting Hero?

Gina Deveney
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Xero accounting software has made big waves in the few months that it has been available to United States' accountants. The company's American rollout was met with much fanfare, and many enterprises have made the switch from older, more established options to Xero accounting software solutions. The software has many benefits for businesses of all sizes, and its low entry cost makes it accessible to smaller companies. Not all firms have embraced Xero accounting software, however.

Accounting professionals who find Xero to be their hero enjoy the many benefits of the program. The software makes it easier than ever to manage multiple offices and locations, using an online database that gets regular updates to store and access information. The ability to network office locations together using cloud technology allows human resources and accounting departments to compile real-time reports and work hand-in-hand in ways impossible with traditional accounting methods. Xero offers top accounting software that impresses many professionals with a sleek and intuitive interface as well as the ability to handle payroll and other complicated tasks.

Those who have not embraced Xero technology point to a variety of disadvantages that may keep it from being a hero for everyone. The system notably lacks the ability to handle stock and inventory features, a key accounting element in the retail world. Add-ons can help alleviate this issue, but native handling and integration available in competing products may help keep them the top accounting software of choice for many companies. Likewise, companies that do not have an always-on Internet connection cannot make use of the cloud-based features that Xero has to offer.

Many accountants are on the fence because of the wide variety of advantages and disadvantages Xero accounting software packages possess. On top of a lack of stock and inventory integration, companies who have worked with other accounting methods for years may be slow to adopt new ways of doing business. Security is also a concern for companies that deal with sensitive information or heavy volumes of card or banking transactions, as online-only accounting cannot offer perfect protection in an ever-changing digital market. Nevertheless, the low cost of entry may well entice many users of competition online systems and products to make the switch.

Xero accounting software is not a guaranteed hero for all companies. Businesses with a heavy online presence or that need to handle accounting concerns across multiple offices benefit greatly from the real-time interaction available with the software. Instant exchange rates and banking transactions can help companies with international operations as well. Xero accounting software may not be a hero for all, but it has definitely found a niche with many small and large companies since its debut in the United States.



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