Xero, unlike most accounting programs, is not software at all.
It is a Web-based service.
This means no software to install, no updates, service packs, patches, bug fixes, or out-dated tax tables.
All that is needed is a computer with a web browser and an internet connection.
Xero makes coding and allocating of transactions fast and easy.
Being off-site, in the event your PC is stolen, zapped by power surge, lost in fire/flood, etc.. your data is safe!
Xero has GST support, invoicing (you can email straight from Xero), and great reporting.
Xero business is multi-user - you, your bookkeeper (if you use one) and your accountant can all be working on your books at the same time! - no more exchanging data files!
Xero speeds up bank reconciliation, as it can accept imported bank statements, but what is unique to Xero is it's ability to accept bank feeds.
What's that? With ANZ, CBA and NAB, almost as soon as a transaction hits your bank account, it is visible in Xero.
What about other banks? Commencing June/July this year, over 120 more will have feeds daily.
I got a high volume transaction web-based client on Xero - 20,000 transactions a year, mostly thru PayPal, in USD, GBP, AUD and EURO. Xero holds these values in their respective currencies, not a converted to AUD value.
Feeds are not available on the Xero Personal product (yet)
What does Xero NOT do? - It does not have inventory (which you don't need) or payroll, which some of you may.
There are a growing choice of third party developers that have services that integrate with Xero - including payroll. Some of these are FREE for your first employee.
I love my QuickBooks - I've been 7 years on it.
I believe in the Xero product so much, I switch on 1st July for my own business
Xero for business starts at $29/month, up to premium product with multi-currency support at $64/month.
You guys would need the mid-product at $49/month
That's nearly $600/year - perhaps twice what you currently pay for your basic MYOB and QuickBooks.
If Xero saved you just 15 minutes each week - you've more than got a return on investment.
As an Approved Advisor (Certified Consultant/Professional Partner) with Xero I get better rates and I want to pass savings on to you. I offer INDI members the Managed Client $49/month product for $29/month (includes GST reporting)
For what you get, at $348/year, Xero is outstanding!