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Xero

Computerized Accounting
by

Ben Webb

on 3 October 2012

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Transcript of Xero

Benjamin Webb
Alex Speake
Dhanushya Kopal
Nada Almalki
Mayank Manchanda Introduction Accounts Customers Sales & Returns Reports Inventory Other Features Founded in 2006 by Rod Drury & Hamish Edwards.

Xero was listed in 2007 on the New Zealand Stock Exchange

Has offices in Wellington, Auckland, Melbourne, Sydney, Brisbane, San Francisco and the UK

Xero has a strong relationship with banks in New Zealand and Australia and with HSBC in the UK and in the rest of the world

Pricing
Small - $29
Medium - $49
Large - $64 Graphs - MYOB has no graphs but QuickBooks & Xero provide graphing functions

Adding accounts in Xero is easier to classify for example: Drop down menus give a lot of options.

Only purchases can be recorded for fixed assets. No depreciation and disposal. Easy to organise contacts between categories.

Takes advantage of the whitepages directory to verify addresses

Error Control when entering data. For example when entering a valid E-mail.

Maintains history of all the changes made on the system specifying dates, times and user names.

Contacts can be archived and restored.

Can Skype contacts from Xero Simple searching process for a specific item

Easy to control how many items appear per page

There is no way to make an items status inactive in Xero unlike QuickBooks and MYOB

In Xero, there is no type field to specify

Cannot change how the items list looks in Xero unlike QuickBooks Simple to use basic layout

Discounts applied individually

Limited discounts by per cent only

Uses a separate and simple menu, separate from sales invoices

Xero automatically changes to apply credit to sales or for cash return

Does not have functions for inventory management Favorites and common formats

Export to Excel or GoogleDocs

Reports are interactive

Available reports are limited Accessed via internet browser

Dashboards

Available on your smartphone

Multiple currencies

Updates Conclusion Choose Xero if you:
1. Provides services
2. Don't want to maintain inventory
3. Want a user-friendly system
4. Have minimal funds
5. Don't have indepth accounting knowledge

Choose QuickBooks if you:
1. Are a larger company
2. Wanting to maintain stock
3. Require additional complexity
Full transcript