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Is Xero vs Quickbooks upgrade and migration worth it?

Xero vs QuickbooksIt seems like Xero is maybe a little easier, has some decent mobile and real time features and can handle foreign currency reconcilliation. I think there's an easy way to migrate old QB vendors, categories etc.

What do you think?

Answers

Robert Honeyman
Title: CFO
Company: Advanced Predictive Analytics
(CFO, Advanced Predictive Analytics) |

I like Xero but, like QB, it's thin in many areas. It has no inventory functionality. Its reporting is weaker than QB. I'm still trying to figure out how to make the foreign currency capability work for me.

However, on the positive side, it is a closed system that can be audited easily. Transactions cannot just disappear. Xero is an accounting system rather than a checkbook management system. But it may be a lot more expensive than QB if you're using the FX functionality.

Since I hate QB, my comparison was to other low-priced, low-end systems. I really chose Xero for the FX component. I expect in a couple more years, the developers will have put together a fully competitive system but today it's in the same league as QB.

Anonymous
(Agent, JKS Solutions, Inc.) |

Xero is a GL. For full functionality you must add on the apps that integrate.

Xero has just finished its integration with Bill.com and will be integrating with Avalara soon. Concur is working on an integration with Xero.

If you live in a state where Sales tax and Use tax are charged, then you will find that Xero handles these taxes like Canadian GST and PST, not as a final tax.

Xero would be a good solution in the US if the sales tax functionality were updated to US tax needs.

I started out working on the Xero certification but found that the sales tax function does not do american accounting correctly. I raised this up to the developers and at this time its not on the slate to get it corrected.

I'm sticking with QB for now.

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

I would say that in the three years since Valerie's review, much has changed in Xero land, without using 3rd party add-on's.

Not to say that the large and varied add-on's are just that, a way to value add a robustness to the core system and create, based on your needs, a best of breed system.

As in any search for an accounting solution, one must look internally, create a business plan, perform business process mapping as a prelude to a through GAP Analysis and then start looking for systems (either a single suite or a best of breed solution).

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  • Susan Boles
    Title: Accounting Consultant
    Company: Tier One Services, LLC
    (Accounting Consultant, Tier One Services, LLC) |

    I would definitely recommend taking a look at Xero - they have an extremely robust system now, with a large marketplace for add-on apps that integrate with Xero, allowing you to create the exact type of financial system that you need for your specific company. You can also easily convert from QB Desktop to Xero. Xero has a robust bank feed system and integrates with just about any type of program, allowing real-time information flow and reporting capabilities. It's definitely worth a closer look!

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