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Xero

  • Member PM.Dip
  • Practice Licence
  • 6 posts
  • # 75324

Hi

I'm currently using MYOB and have to change software package by the end of the year.  The main work I do is for an Accountant and he is very interested in using a cloud package.  I have been trialling Xero and would be interested in any comments anyone has to say about it.

I also have a few other clients for which I need to find a new (reasonably priced) desktop package for.  Does anyone have any sugestions.

Many thanks
Lisa

Edited at 17 Oct 2011 06:12 PM GMT
kjmcculloch
  • 1159 posts
  • # 75325

For a desktop package I'd suggest VT Transaction+.  It's reasonably priced and multi company as standard.  You do need to be quite confident with your double entry as it doesn't do loads for you, you need to get your hands dirty, but a great all rounder.

I don't have any cloud suggestetions as I'm not a great fan of hosted software for finances for a number of reasons.

Kris 
  • Fellow PM.Dip
  • Practice Licence
  • 10 posts
  • # 75328

I have one client using Xero and the biggest downside I have is that, unlike in Sage, whoever does the data entry can enter or change data in a previous period and there is no immediate audit trail to alert you that changes have been made.
Unless I have missed something, Xero is quick and simple to use but has this big flaw that changes to previously "balanced" data can be altered.
Anyone else had this problem?

Paul

  • paulclewlow@aol.com


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kjmcculloch
  • 1159 posts
  • # 75338

I actually think a lot of cloud security is better than locally hosted data at times.  It's the continuity of service that worries me about it.

Kris

Edited at 17 Oct 2011 08:59 PM GMT
kjmcculloch
  • 1159 posts
  • # 75343

Not just that, but if my system were ever to completely die.  I could be functional within 10 minutes using a combination of backups and redundant systems.  However if a SaaS ever goes down you're at their mercy, possibly losing a few days of working time, possibly some data depending on the fault and their backup procedures.  

There's also the risk if they go out of business, is the data available in a format that it can easily be transfered to another system or software.

What if you lose broadband access as has happened to me for a whole 10 days at one point recently, how do you access your data?  How do you work?

I'm sure we've all experienced phoning call centres to be told we can't answer any questions about your account because our systems are down.  Thats not the service I want to offer my clients.

Kris 
gigagirl
  • 220 posts
  • # 75354

I'm a bit nervous now.  One of my new clients has just purchased a package with Xero, prior to our first meeting.  Does anyone know if you can export details into excel, so I can at least take backups onto excel so I don't lose all the transactions if it does go belly up?
  • Member PM.Dip
  • Practice Licence
  • 6 posts
  • # 75411

Hi
Thanks for all your responses.

The cloud software appeals to me so that the Accountant that I work for can view the accounts at anytime from his office and I can continue to work from home.  At the moment I have to keep sending reports to him, he then emails me questions on these reports and I then have to email the answers back.  It will also mean that his clients can view their accounts if they want to.

I understand the concerns over accessing data, if the provider goes out of business and if your internet goes down but I think all these situations can be overcome.  I'm already in the position of having to find an alternative software package as MYOB has pulled out of the UK market and we cannot continue to use it even though it is a desktop package.

You can lock the periods within Xero to prevent changes being made to periods already balanced.  You go to Settings, General Settings, Financial Settings, Lock Dates.  Only users with the Financial Advisor role can set or remove these dates.

Yes I believe you can export reports into Excel and other formats.

I'm also looking at FreeAgent and Liquid Accounts but am finding Xero easier to pick up.

Lisa  
  • Fellow PM.Dip
  • Practice Licence
  • 10 posts
  • # 75419

Lisa,
Thanks for the tip of locking dates from editing but my point was a little more specific. Perhaps you may have the answer.
If you lock a period, say after the end of September, it stops you editing any record but presumably does not stop you entering, say, a purchase invoice with an August date, if it came to light in October.
However when you run the next VAT reurn for the period 01 Oct to 31 Dec, if I were using Sage, it would tell me i have an unreconciled entry from a previous period.
As i understand it, Xero does not give you such a warning, and the invoice would be missed for VAT return purposes and you may only find it at year end reconciliation.
Or does the lock stop any entry of any information prior to the date?
Thanks
Paul

  • paulclewlow@aol.com


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