Here's the uncomfortable truth about Xero: it's one of the best cloud accounting platforms available in 2024, but calling it an 'AI-powered' tool is generous at best and misleading at worst. I've been running my consulting business on Xero for nearly two years, and while I genuinely love using it daily—a sentence I never thought I'd say about accounting software—the AI capabilities are roughly equivalent to what your email spam filter was doing in 2015.
Xero is an excellent accounting platform that does the fundamentals beautifully—just don't buy it for the AI, because there isn't much there. If you need reliable, collaborative cloud accounting with a modern interface and solid bank reconciliation, it's a smart choice. But if you're specifically hunting for AI-powered financial insights or advanced automation, look elsewhere until Xero catches up with the actual AI revolution.