Home – New Forums Money matters Xero Accounting

  • This topic is empty.
Viewing 15 posts - 1 through 15 (of 19 total)
  • Author
    Posts
  • #966950
    davdee
    Member
    • Total posts: 29
    Up
    0
    ::

    Hi.
    Went to a seminar in Sydney for Xero Accounting software. All actions done thru a browser, so nothing to install on a workstation.

    Looks good, and will study it some more.

    Interested to see what accountants and bookkeepers think of this method.

    Best regards

    #1022146
    ray_223
    Member
    • Total posts: 594
    Up
    0
    ::

    Hi Dave,

    Xero has been mentioned a few times on the forums recently (and I think on the wider flyingsolo website as well). Do a quick search for “xero accounting” up on the right hand side and you’ll see lots of feedback.

    #1022147
    FletcherTax
    Member
    • Total posts: 347
    Up
    0
    ::

    Dave

    Have a chat (or email) with Darren (Dardee). He’s currently conducting a trial run of Xero with one of his clients and becoming an accredited Xero partner.

    #1022148
    Dardee
    Member
    • Total posts: 430
    Up
    0
    ::

    Thats right. I’m currently doing a parallel run of MYOB and Xero and have a client on it. Initial impressions are positive and very excited by its possibilities.

    #1022149
    akagrp
    Member
    • Total posts: 315
    Up
    0
    ::

    hi Dave

    We are also testing with a few clients aswell as our own accounts so far very impressed as one of the few bank auto feeds that still allow you to run on an accrual basis.

    I was actually speaking to our accounts manager earlier in the week and he advised by June over 500 financial institutions/ products will be avaliable for auto feeds.

    it is also expanding it’s alliance partners for related products such as payroll.

    Not suitable but for business with inventory, for that we are currently trialing with a client Saaus

    We have also offered to setup another FS member who we hope will post regular updates on his use so keep an eye out we ate due to start next week

    #1022150
    Dardee
    Member
    • Total posts: 430
    Up
    0
    ::

    Xero will be releasing a basic inventory system this year and have a number of inventory partners coming on board as well.

    #1022151
    akagrp
    Member
    • Total posts: 315
    Up
    0
    ::

    Darren yes but from what I have been advised inventory will be very basic and more likely towards second half of year

    They are adding addon partners but one issue I have with this is cost starts to rise for clients and makes it difficult for clients to move as other software may not be as compatible and transfers/import become an expensive option

    Would love to chat more on your experiences we must catch up at next flying solo drinks next month as we only said goodbye last Wed have a great weekend

    #1022152
    Dardee
    Member
    • Total posts: 430
    Up
    0
    ::

    Initially I agreed with you about the cost. At face value it does seem rather expensive but when you take into consideration the time savings from having your bank statements automatically downloaded and the reconciliation almost done for you by the program, it works out cheaper than any other system. If you have a bookkeeper spend 1 hr per week for a month doing bank recs at say $50/hr thats $200. Doing bank recs in Xero will take considerably less time so say 1/2 that time = $100. The program has just paid for itself and given you change.

    The total cost needs to be taken into consideration, not just the monthly fee. Getting clients to think this way is the key.

    #1022153
    Vanguard
    Member
    • Total posts: 2
    Up
    0
    ::

    Have been using Xero for a month now and love it.
    One client is large volume transaction web business.
    With Xero, I can upload a thousand transactions at a time.
    Xero make superfast allocation of these lines to accounts and reconcilliation a easy.

    #1022154
    TimFairweather
    Member
    • Total posts: 25
    Up
    0
    ::
    Dardee, post: 26484 wrote:
    The total cost needs to be taken into consideration, not just the monthly fee. Getting clients to think this way is the key.

    Great point Dardee.

    I’ve switch a few clients over to Xero – I initially thought that once the client got familiar with using it I wouldn’t here from them much anymore. However, I get more phone calls and meetings now because they want to learn about margins, this report vs that report, how the balance sheet works… it’s funny watching people’s relationship to numbers change.

    Have you found similar?

    #1022155
    Dardee
    Member
    • Total posts: 430
    Up
    0
    ::

    Yes, I have actually. Clients are much more interested in the information available and what it is telling them. Amazing how an application can make such a difference to ones opinion of financial information.

    #1022156
    Bookkeeping Solutions
    Member
    • Total posts: 29
    Up
    0
    ::

    Hi
    I have been following/trialling Xero with keen interest too. The only thing that I have not managed to find out is whether an Australia Payroll version may be on the cards… I have recently heard that Quickbooks do an online version with payroll, but I am a MYOB girl, so interested to look for other ideas…

    Nicole

    #1022157
    Dardee
    Member
    • Total posts: 430
    Up
    0
    ::

    Xero have no plans to offer payroll. They are leaving that to the Xero Network partners who offer products that integrate with Xero.

    #1022158
    TimFairweather
    Member
    • Total posts: 25
    Up
    0
    ::

    He is right below, Saasu is an option if you need payroll – I only have a few clients on Saasu but have found it quite versatile.

    http://www.saasu.com/ check it out for details.

    Xero is more intuitive I find, Saasu’s functionality can be hidden – anyone else used Saasu and want to throw in there thoughts?

    Tim

    #1022159
    Rhys
    Member
    • Total posts: 325
    Up
    0
    ::

    Like a few others on FS I now have a number of clients up running Xero, and am also getting a really good response from users.

    One of the other things I have found is how quick it is to upload a large amount of data – I have just written up a couple of case studies on my website outlining 2 clients that each had a large volume of data to upload, in one case going back around 2 years (if anyone is interested you can read these here).

    This has got the clients up and running very quickly and at a low cost. A great solution for the client, and the accountants are delighted.

    Also one of the posts in this thread queried payroll – there are now 4 options for online payroll solutions, details on the Xero website. I am in the process of reviewing these & will post some feedback within the next few weeks.

    Cheers, Rhys

Viewing 15 posts - 1 through 15 (of 19 total)
  • You must be logged in to reply to this topic.