XO Report vs Flex Financial Reporting
Flex Financial Reporting is the #1 rated Xero app on the App Store. Both are Excel add-ins - here's how to choose between them.
Flex Financial Reporting
Strengths
- #1 rated Xero app on the Xero App Store
- Has data tables for invoices, contacts, etc.
- Access to Journals / GL transactions
- Unlimited users on all plans
- Strong track record and large user base
Limitations
- No custom Excel formulas (=XO.BALANCE style)
- Does not match XO Report's multi-org flexibility across formulas, tables, and reports
- 10-connection minimum at AU$60/mo before GST/taxes
- Balance sheets report as of month-end only — there is no non-month-end "as of" date option (e.g. for a 4-4-5 or weekly close calendar)
- Month-by-month comparison reports can leave out transactions dated on the 31st in the comparison columns — a known Xero quirk flagged in Flex's own reviews
XO Report
Why Choose XO Report
- Custom Excel formulas that auto-refresh on recalc
- Multi-org formulas, tables, and reports in a simpler UI
- Lower one-organization entry price ($9.90/mo vs Flex AU$60 minimum)
- Account balances as of any date — including non-month-end dates like a 4-4-5 or weekly close
- Month-by-month comparisons include every day, so the 31st is never dropped
Pricing: Flex uses AUD connection pricing: AU$60/mo includes up to 10 connections, with prices ex GST and local currency/taxes applied at checkout. XO Report starts at $9.90/mo for one organization.
Price Comparison
| Orgs | XO Report | Flex Financial Reporting | Pricing note |
|---|---|---|---|
| 1 | $9.90 | AU$60 | Lower XO entry price; FX/tax varies |
| 3 | $14.90 | AU$60 | Lower XO entry price; FX/tax varies |
| 10 | $29.90 | AU$60 | Different currencies |
| 50 | $99.90 | AU$300 | Different currencies |
Choose Flex Financial Reporting if:
- •You need access to Journals / GL transaction data
- •You're already using Flex and it works for you
Choose XO Report if:
- •You want custom Excel formulas that refresh automatically
- •You need multi-org formulas, tables, and reports in one simpler workflow
- •You're cost-conscious (especially at 1-5 orgs)
Frequently Asked Questions
Is Flex Financial Reporting an Excel add-in?
Yes, Flex Financial Reporting works within Excel. It's the #1 rated app on the Xero App Store and offers report templates and data tables.
Does Flex have custom Excel formulas like XO Report?
No. Flex does not offer custom Excel formulas like =XO.BALANCE. XO Report gives you both Excel-native formulas and built-in report workflows, so you can use formulas for custom models and reports for standard outputs.
Which is better for multi-org reporting?
XO Report. It supports multi-org work across custom formulas, tables, and built-in reports, with a simpler UI for choosing the organizations you need. Flex can connect multiple orgs, but XO Report gives you more direct multi-org control across the whole workflow.
How does Flex Financial Reporting pricing work?
Flex uses a connection model: AU$60/mo includes up to 10 Xero organization connections, then graduated AUD pricing applies for additional connections. Prices are ex GST, and local currency conversion and taxes can vary at checkout.
Can Flex show a balance sheet for a non-month-end date?
Flex's balance sheet reports at month-end. If you need an account balance as of a different date — for example on a 4-4-5 or weekly close calendar — XO Report can return the balance as of any date you choose.
Does Flex have the month-end comparison issue with the 31st?
A recent verified Xero App Store review of Flex notes that month-by-month comparison reports leave out transactions dated on the 31st in the comparison columns — a known Xero quirk. XO Report works around this automatically, so every month in a comparison includes all of its days.
For a broader overview of how XO Report fits into the Xero-to-Excel workflow, see our complete Xero to Excel guide.
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