Home > Accounting Software > Xero > Xero vs ExpenseWire

Xero vs ExpenseWire

Last Updated: November 18th, 2024

Our analysts compared Xero vs ExpenseWire based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

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Product Basics

Xero is a cloud-based accounting software designed for small businesses. It streamlines bookkeeping tasks like invoicing, expense tracking, bank reconciliation, and payroll, all accessible from any device. Xero boasts user-friendly interfaces and automated features, saving time and simplifying financial management. Popular features include online invoicing with reminders, bank feeds for automatic transaction import, and customizable reports for insights into cash flow and profitability. While Xero caters well to various industries, its strengths lie in freelancer/contractor work, startups, and service-based businesses. Pricing scales with business size and complexity, starting at a monthly subscription for basic accounting needs and increasing with additional features and users. Compared to some competitors, Xero offers a robust mobile app, strong integrations with third-party tools, and a focus on user experience. However, it may lack advanced inventory management or complex accounting functions suited for larger enterprises. Ultimately, Xero's value proposition lies in its ease of use, automation, and scalability, making it a popular choice for small businesses seeking a streamlined and efficient accounting solution.

Pros:

Cloud-based access anywhere
Easy invoicing and expense tracking
Automated bank reconciliation
User-friendly interface
Mobile app for on-the-go use

Cons:

Learning curve for new users
Limited inventory management
No built-in payroll (separate fee)
Higher cost for advanced features
Limited phone support

Expensewire is a SaaS expense management software that helps businesses of any scale and size. It manages, simplifies and organizes expenses while ensuring compliance and expediting reimbursements. The module eliminates excessive spending and helps users take control of the organization’s reporting submissions, approvals, and more. Take advantage of on-the-go access to submit, review and manage expenses with its mobile capabilities.

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Product Insights

Affordable Payroll: Take advantage of the free trial to see how much time automated data entry can save and assess if the solution is a good fit for the business. Save countless hours on tracking expenses, calculating payments, processing payroll and more.
Better Interoperability: Centralize company processes and handle a wide range of functionality with more than 700 add-ons available through the app marketplace. This includes programs for CRM, e-commerce, inventory, invoicing, job tracking, payroll, time and attendance and more.
Centralizes Data and Processes: Organize information and put the primary software that handles day-to-day issues all in one place. Manage files to a document library where users can see originals next to updated versions. Send files to stakeholders to ensure a clear flow of information.
Saves Time: Eliminate tedious data entry and ensure better data integrity by cutting down on human error. Provide a clear documentation trail to ensure that the business is running ethically and save time hunting for documents when it’s time to verify the information.

Mobile: Access data, capture and upload receipts, review and approve the expense anytime and anywhere with a stable internet connection.
Flexible: Work with any credit card and seamlessly integrate with the existing payroll, accounting system or CRM. Automate approval workflows and approve reports quickly and easily.
Relaible: Get the business up and running in no time with its uptime of 99.9%. Save time with its automatic data tracking, editing and submissions. Boost productivity with intuitive SaaS solutions.
Accurate: Get rid of manual expense reporting and OCR systems that are prone to errors. Provide rich insights into the business for better control and improved decision making.

Payroll Processing: Provide payroll across 50 states. See when payments are due, track them and ensure on time payment. Analyze accounts payable with a quick view, schedule advanced payments and make batch payments.
Banking: Connect to the right bank to track and facilitate transactions daily. Keep an eye on the flow of money through a secure connection that goes directly into the solution.
Expense Management: Seamlessly track and manage expense claims. Access real-time data and reports that provide insight into patterns and trends. Record costs, see and approve claims, view overall spending and dole out reimbursements. Capture receipts to monitor employee spending and verify costs.
Project Management: Integrate with other workflows to facilitate financial project management. Provide a quote for client work before you begin to track time, costs, profitability and other variables for an accurate invoice.
Customer History: Use smart lists and contacts to contact details, emails, past sales, emails, invoices, past payments and more when working with a partner or client.
Mobile App: Let users track bank transactions, send invoices, access supplier details and more, from any mobile device.
Inventory Management: Undertake basic inventory management, including taking inventory, seeing what was bought or sold, look at reports on how well items are doing and get invoices and orders.
Gusto Integration: Calculate and pay taxes, deductions and employees through an integration with the accounting software Gusto. Simplify compliance and keep on top of industry updates.
Other Capabilities: Processes payment in multiple currencies, calculates sales taxes, tracks purchase orders, manages files and does several other administrative tasks.

Expense Submission: Pull data such as travel and expense forms, hotel itineraries, personal and credit card transactions, receipts and create expense reports. Save time by keeping common transactions in the database. Converts transactions into appropriate currencies for international travelers.
Expense Approval: Give managers the freedom to review and approve expense reports without involving any paperwork. Set policy rules in the system, so expenses are pre-approved, making reviews and approvals easier and faster.
Expense Report Automation: Automate and streamline back office tasks to minimize the possibility of errors and make the process more efficient. Free up workers so that they can focus on more important business objectives.
Quick Reimbursement: Pay accounting professionals faster with an accelerated reimbursement process with batch payment processing. Furthermore, save staff hours of data entry work and simplify expense reimbursement processing with automation.
Compliance Management: Set standards and protocols to ensure compliance. Establish a spending limit and expense policies to help staff know when a certain payment is against company policy. Reduce excessive spending.
Smart Categorization: Categorize transactions based on predefined rules for the transaction category. Eliminate the need to manually enter data.
Digital Receipt Management: Provide an electronic copy of the receipt which can be later retrieved by the clients in case of chargebacks or reconciliation issues.
Mileage Tracking: Track, manage and control mileage expenses in a simple, accurate and reliable way.
Mobile Expense Management: Take a receipt of the picture and upload it to attach it to the expense report. Easily access expense report. Review, approve and deny submitted expenses on your schedule.

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Analyst Rating Summary

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User Sentiment Summary

86%

of users recommend this product

Xero has a 'great' User Satisfaction Rating of 86% when considering 4652 user reviews from 5 recognized software review sites.

66%

of users recommend this product

ExpenseWire has a 'fair' User Satisfaction Rating of 66% when considering 29 user reviews from 2 recognized software review sites.

4.4 (17)

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4.3 (339)

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4.33 (2132)

3.2 (15)

4.3 (1877)

3.4 (14)

4.3 (287)

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Awards

Synopsis of User Ratings and Reviews

Affordable: Of all the reviews that mentioned price, over 70% felt it was well within their price range and felt satisfied.

Good Customer Service: Over 70% of reviews that mentioned the customer support said they received excellent service, especially from their reps.

Excellent Functionality: In more than 50% of all reviews that mentioned features, users were happy with its capabilities. They especially like the integrations, reconciliation process, invoices and accounting functions.

Simple and intuitive interface: Xero's clean layout and straightforward navigation make it easy for users of all skill levels to manage their finances. In over 80% of reviews that mentioned the UI, users said it was easy to navigate.

Automated tasks: Xero automates repetitive tasks like invoicing, expense tracking, and bank reconciliation, saving users valuable time and reducing errors.

Mobile app for on-the-go access: Manage your finances and stay up-to-date on your business performance anytime, anywhere with Xero's mobile app.

Customizable reports and dashboards: Gain valuable insights into your cash flow, profitability, and other key financial metrics with Xero's customizable reports and dashboards.

Multi-user access and permissions: Collaborate with team members and advisors seamlessly with Xero's secure multi-user access and permission controls.

Automated Expense Reports: Users praise ExpenseWire for automating the process of creating expense reports, eliminating the need for manual data entry and reducing errors.

Mobile Accessibility: The mobile app allows users to snap pictures of receipts and upload them directly to the platform, making expense tracking convenient and efficient.

Real-time Expense Tracking: Users appreciate the ability to track expenses in real-time, providing a clear view of spending patterns and budget adherence.

Limited inventory management: Xero lacks advanced inventory tracking features, making it less suitable for businesses with complex inventory needs.

Learning curve for complex features: While basic tasks are easy, some advanced features like multi-currency accounting can be challenging for non-accountants to navigate. Though the system was widely popular after implementation, users said it was old-fashioned and had a steep learning curve in 20% of reviews that mentioned the UI.

Higher cost for advanced features: Access to advanced features like payroll processing and multi-currency comes at a higher price point, potentially exceeding budgets for smaller businesses.

Limited phone support: Xero primarily relies on email and live chat for support, which may not be ideal for users seeking immediate assistance with critical issues.

Integration limitations: While offering many integrations, some key business tools may not have seamless integration with Xero, requiring workarounds or data duplication.

Invoices: While around 60% of users felt that the invoicing system worked well, around 40% said they had trouble making changes to them once they were saved.

Downgrading Issues: Around 20% of reviews that mentioned price said they had issues while trying to go to a lower pricing tier and often ended up paying a month or more at a higher rate.

Limited Integrations: Users express frustration over ExpenseWire's limited third-party integrations, particularly its lack of seamless integration with popular accounting software like QuickBooks Online or Xero. This forces businesses to manually export and import data, leading to increased workload and potential errors.

Clunky Mobile App: The mobile app's user interface is frequently criticized for being unintuitive and difficult to navigate. Users report experiencing glitches and slow loading times, making it cumbersome to track expenses on the go.

Reporting Limitations: ExpenseWire's reporting features are considered basic and lack the flexibility and customization options needed by many businesses. Users desire more comprehensive reporting capabilities to gain deeper insights into spending patterns and identify areas for cost optimization.

Xero’s users say it’s easy to use and has good accounting and bookkeeping capabilities. Most found the price to be acceptable, with some complaints about issues they ran into while trying to switch to a lower pricing tier. More than 70% loved the customer service and felt their representatives were extremely helpful. It has a range of features including band feeds, invoice creation, integrations and reconciliation processes. The reconciliation was particularly popular with over 80% of reviewers who mentioned it describing positive experiences. One issue with the system came in making updates to invoices after they’d been saved. Some users said they were sent prematurely to clients or claimed to have difficulties changing the data at a later date. Many also felt that the implementation process for the new platform was difficult, but that once they learned where things were they felt comfortable. This may be a good choice for small and medium businesses. Larger companies should consider a system that’s able to handle a higher volume.

ExpenseWire users are buzzing about its seamless integration with Paychex payroll, making it a breeze to reimburse employees. The software's intuitive interface and mobile app receive high praise, allowing users to snap pics of receipts and submit expense reports on the go. ExpenseWire's robust reporting tools provide valuable insights into spending patterns, empowering businesses to make data-driven decisions. However, some users find the customization options limiting, particularly for complex approval workflows or unique expense categories. ExpenseWire shines for small to medium-sized businesses already using Paychex payroll, offering a streamlined expense management solution that plays well with their existing systems.

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FAQ

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