Interview With Xero

Online accounting company Xero is on a rapid growth trajectory and recently rose in our online accounting software ranking to the number one position. Xero has continued to expand the feature set of its “Beautiful accounting software” to cater to small businesses of all trades, and also earned its medals for providing fast customer support. We recently had the honor to interview Bob Grohs, Senior Product Marketing Manager at Xero, who has spent the last decade focusing on financial technology and payments for small businesses. It’s thanks to him that Xero integrates with many of the popular payment processing services like Stripe, PayPal and Square, and that Xero is continuously expanding and updating its feature set.

Why should we pick Xero over other online accounting software?

Whether you’re looking for a basic tool to create professional invoices or you need a full-featured accounting platform, Xero’s got small businesses covered. Unlike invoice-only software companies with limited functionality, you won’t outgrow Xero. We provide automated bank feeds, reconciliation, payroll, and much, much more, so we not only help you grow, but also scale with you. Xero has an amazing ecosystem of more than 500 add-on partners, including Square, Stripe, PayPal, Shopify, and SquareSpace. Everything flows together into a beautiful, connected accounting platform, saving you time and letting you focus on doing what you love – running your business.

How can we move from QuickBooks or another accounting solution to Xero?

We’ve made it fast, easy, and free for current QuickBooks users to move their data into Xero. It’s as simple as creating a new organization in Xero and uploading a copy of your existing QuickBooks file. Our team then takes over and gets your data into Xero within 3 hours. That’s it. For non-QuickBooks customers, Xero provides other ways to upload your data into Xero and we’re here 24/7 to support you if you run into any issues.

Do we still need an accountant when using Xero?

While Xero is designed to be easy for small business owners to learn and use on their own, many of our customers do use an accountant or bookkeeper and find that it’s an extremely worthwhile investment. With Xero, you can grant access to an unlimited number of users – your bookkeeper, your employees, your partner, anyone – and collaborate on a single set of books in real-time from anywhere.

Which tax tools are available in Xero?

Xero prepares you for tax season by keeping your books in great shape and allows you to export the numbers into DIY tax software like TaxACT and more advanced programs like CCH ProSystem (for businesses working with a professional tax preparer). Either way, Xero saves you time at tax time.

How do we best learn how to use Xero?

Xero U, our online learning site, is absolutely fantastic for getting started. It has a ton of helpful videos, live training classes, webinars, and much more. For business owners who prefer to dive right in, there’s a “demo company” available to all Xero users that lets you test drive Xero before you start working on your real books.

How will the reports in Xero help business owners get better oversight and control over their financials?

Xero’s business dashboard lets you see how your business is doing at a glance without even needing to run a report. When you do need some additional details or insights, we’ve got all your reporting needs covered: profit and loss, balance sheet, management reports, sales tax, foreign currency gains and losses, and many, many more. All can be prepared with a single click and can even be customized if you want.

How much accounting know-how do we need to use Xero?

While it never hurts to know some accounting prior to working with Xero, the software is certainly not for accountants only. Xero’s beautiful design and simple terminology allow anyone running a business to understand what’s going on (for instance, Accounts Payable and Accounts Receivable are called “Money Out” and “Money In”). Plus, if you do have questions, there’s free education, an active Xero user community, and free 24/7 support.

How can accountants and bookkeepers use Xero with their clients?

Xero is designed specifically for easy collaboration between small businesses and their bookkeeper or accountant. Both parties can sign into Xero to work on the books or review financials together in real-time, from anywhere. This means no more sending confidential files back and forth over email and fewer in-person visits. We love to set small businesses up with certified Xero accountants or bookkeepers via our Advisor Directory – it’s a win-win for everyone in our Xero ecosystem.