Literature review on the usage and popularity of Xero accounting software in Australia

Literature Review

TABLE OF CONTENTS
Literature review..........................................................................................................................3
REFERENCES................................................................................................................................8

Literature review
Literature review is a summary of research of others on specific topic. The purpose of
literature review is to collect and evaluate secondary evidence and to generate an understanding
of topic. The topic of this literature review is the usage and popularity of Xero an accounting
software in Australia.
Theme 1: Popularity of Xero in Perth, Australia
According to Petratos & Faccia (2019, August) book keeping, payroll management and
banking is essential part of business activities and every organization whether it is small or large
is required to maintain books. That is why Xero has become a popular accounting software in
Perth, Australia. Xero book keeping is a cloud based accounting software which is a best means
for ending the problems related to book keeping in business. The accounting function of business
becomes very easy and effective due to this software. As per Mauricette, Wells & Haar (2022)
Xero enables business to get all their accounts updated as it is an online cloud based accounting
system which enables accountant of an organization to have access of software anywhere and at
anytime. The reconciliation of bank accounts and identification of problems and resolution of
them becomes very easy due to Xero accounting software. The author has stated that
functionality of Xero is better than all other accounting and book keeping software in Perth
Australia. This is the reason behind increase in popularity of Xero in Perth in 2022.
This accounting software has ability to do everything which business owner need in order
to keep a track record of accounting and other transactions and it gives detailed information
regarding profit and revenue of business. In terms of interface and scalability, Xero is more
preferable software as it has ability to update with growth and development of business. The
price charged by this software is based on volume of transactions in contrast to this Quick books
another accounting software charges based on number of users. According to Yau-Yeung,
Yigitbasioglu & Green (2020, October) Xero is the best reliable and lean accounting software for
start-ups and small businesses. Though Xero is developed keeping in mind small business
organizations but it has key features such as asset management, invoicing, multi currency
support which are used by large and multinational organizations. Therefore, it can be said that
Xero can be used by large and international business as it has features which are required for
accounting of these type of businesses. Streamlining with this accounting software will remove a
lot of burdens and worries of businessman as well as accountant as this software increases