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online accounting – A changelog by Daniel Mettler

Tag: online accounting

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Global version of Xero expected by early 2009!

Wow, that’s what I call modern corporate communications and a quick reaction to feedback (see my earlier blog post)! Nice to see that Xero sets a new standard in this area, too.

Rod Drury, CEO and co-founder of Xero, just announced on the Xero company blog that there will be an international edition of the Xero online accounting system soon:

As you’d imagine, designing and building a proper yet fun-to-use accounting system that scales globally is no small task. Our approach has been to evolve Xero with the feedback of customers and partners in our initial markets, while building up our internal systems to scale internationally.

The plan is to have a global version ready by early 2009.

And there’s no doubt Xero will celebrate a huge success in Switzerland and all over the world!

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Xero: The ideal online accounting solution for startups/SMBs?

When going through Jakob Nielsen’s list of the 10 Best Application UIs of 2008 [1], I’ve noticed there’s also an online(!) accounting(!) system for SMBs among the winners:

Xero – The world’s easiest accounting system.

This is a big surprise, as I’ve already tested quite many accounting systems for SMBs/SMEs, both standalone and web applications, but none of them was particularly easy to use. The point isn’t that I couldn’t use a complex accounting system [2], the point is that I don’t want to if it isn’t necessary. In other words, every hour I can save on accounting and invoicing, I can spend on business development and software development. Which obviously makes sense.

Considering this, the price of 49 NZD (34 USD) per month for Xero is a fair deal. The only thing that isn’t customer-friendly at all, is that they decided to go with an opt-out free trial model (i.e. if you don’t cancel the trial within 30 days, you’ll be charged). Definitely worth a try, though.

[UPDATE 20080813: Note that Xero is not available for purchase in Switzerland yet (hopefully soon). You can still try the demo though.]

[UPDATE 20080814: I’ve quickly tested Xero. Conclusion so far: I like it a lot! It delivers, what most startup companies need in regard to accounting and it makes things as easy as possible. In fact, I’ve never seen a more intuitive accounting system before! It will definitely set the new benchmark in its class. Let’s hope there will be a Swiss edition soon. Kudos to the makers of Xero in NZ: You rock!]

[UPDATE 20080815: Xero’s plans are to have a global version of Xero ready by early 2009, see my follow-up blog post]

[1] Also noteworthy: CMSBox, a very user-friendly CMS made in Switzerland.

[2] Among others, two of my majors at the University of Zurich were Management Accounting and Managerial Accounting.

[3] Of course, you could also outsource all your accounting duties, but particularly for a new startup with a minimal headcount, the outsourcing efforts generally outweigh the benefits.