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Xero
We have listed this, not because we recommend it, but because the hype on this software is amazing. We will work with it - but do not recommend it as highly as Clearbooks, Freeagent or Wave (which is free).Popular but not amendable
Xero has been written with open architecture. It is linked to many other software packages including Yodlee, payment providers, Mobile phone technology, links from sales ordering systems, CRMs and other softwares. I like their open and pioneering attitude. The bank liaison is key and is based on Yodlee account aggregator technology. Xero therefore downloads transactions from your bank account automatically (ie without a need for the import of a file exported from your bank statement).
The software is so close to what I want to my clients and the wider community.
But the problems remain those listed in the review (myobalternatives.com). While the expenses can be amended, Xero creates sales that cannot be amended. It has a ‘reconcile accounts’ function that is far too prominent – the transactions appear not to go into the software until they have been reconciled.
It is basically too slow and clunky. For an online package it should be a lot more user-friendly.
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