Xero Review Part 2 – Features

Xero is not short of features. We would go as far to say that is the most feature rich online accounting package out there. That is true of both the built-in features and third party add-ons.

What's special

Automated bank feeds - Automated bank feeds mean that Xero pull your bank transaction info directly from your online bank account and import them into Xero. This is an amazing feature that's not unique to Xero but Xero currently appears to have the lead with regard to the number of supported banks.

Third party apps - The selection of third party Xero apps is pretty incredible and is a great sign for the future. One of the most notable is contact integration with Salesforce.com.

It's the relationship Xero has with third party developers that really makes it stand out. Xero have already been able to build a platform that other developers seem to like working with and it's heading to critical mass. This should mean that however stretched the Xero team is a third party developer will quickly fill in any functionality gaps.

Below we list a lot of the features. It is far from comprehensive but should give you a good idea.

Built-in features

  • Invoicing - raise a sales invoice with your company logo, automatically email it out
  • Recurring (eg. monthly) invoices are also possible
  • Multi-currency
  • Fixed asset depreciation
  • VAT returns - direct link to HMRC
  • Overview of outstanding invoices
  • Budget manager
  • Tracking categories - allow you to track specific projects
  • Xero network - exchange invoices directly with other Xero users
  • iPhone and Android apps
  • Basic inventory management
  • Automated bank feeds with most major banks
  • Contact management
  • Consolidation function - though this is actually done via Excel but no one else has gone even this far yet.

Add-on features

  • Payroll
  • Sophisticated inventory management
  • CRM system integration - including Salesforce.com integration
  • eBay integration
  • Shopify integration
  • Freshbooks integration
  • Time tracking apps
  • Receipt Bank integration - document scanning

You can see a more complete list of Add-Ons here.

Features Verdict

Xero's features are unparalleled, five stars!

 

>> Xero Review Part 3 : Design
<< Xero Review Part 1 : Usability

If you have a view on Xero's features please leave a comment:

 

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