Thanks for the replies, I do read each one with interest. The point someone brought up about not being able to get backups off Xero is actually quite an interesting point!
We use Xero to run one large and three small businesses, very happy with it. The bank feeds save us lots of time, and I love how they are constantly adding new features. We have email address for Xero inbox setup on our photocopier meaning we can scan invoices straight into it which is useful, or if they arrive by email then we can just forward the email to Xero and match it up with a transaction.
The only issue we have really is it can be slow sometimes even on business fibre, and if we had less intelligent people in our accounts dept. it might almost be too easy to use (i.e. they might just click OK when Xero has guessed what a transaction should be coded as (based on what we have selected for a similar bank transaction in the past) rather than double checking it).
EDIT: One kind of hidden feature we love which may be irrelevant to some people is that when exporting reports etc to Excel, they actually have the calculations in the excel files. i.e. meaning if we export to Excel then deleted a line it updates the totals at the bottom etc. It isn't just dumping everything out as values.
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