Xero is one of many cloud accounting software packages, however we think it is one of the best. It not only allows you to save time and therefore focus on your core business operations. It also allows you to make much more educated business decisions. Find out 10 great reasons why Xero is good for your business (and that means good for your profit too).
(1) Saving time
Xero has too many time saving functions to list. One of the main ones however is the ability the system has to auto-post transactions based on previous entries. This means, you only have to allocate a payment once, such as your business rates, and the system will allocate any future costs to the same place. It’s intuitive in the way it operates, which is key to minimising the amount of manual input you need to do.
2) Filing cabinet
Xero also acts as a filing cabinet for any receipt and invoices. There is a function to scan a receipt and post straight into the system. That way, if you lose the original, you always have a digital copy.
Xero has the facility to not only draw in data direct from your electronic banking, further saving time for you. It also allows an easy reconciliation to ensure you have accurately accounted for everything and not missed any costs for tax relief.
Xero enables multiple, in fact unlimited, users to access the same account. Therefore, AJN Accountants are able to help you out if you need by remotely accessing your system and fixing the issue you have, or talking you through a query.
5) Accessible 24/7
Xero is accessible anytime and anywhere as it operates in the cloud. This means you can keep track of your financial affairs whilst you are on holiday, travelling for business or on the move. An internet connection is required, but hopefully this won’t be too much trouble, unless you are mountain climbing in the alps or on safari in the bush!
6) Credit control
From the iPhone app Xero Touch, you have more flexibility to manage your affairs whilst you are out and about. If you need to chase the people that owe you money, it’s just a click to call them from your phone.
Xero slots in nicely to other systems such as CRM software and other time management software, without hefty costs.
8) Free help and support
Xero offer great help and support for queries whether they are technical or process based. AJN Accountants also support all our users with Xero, particularly in the first few months whilst you get used to the system.
9) Free backups
Xero saves all your entries as they are made, so you don’t need to fret about losing data or taking manual backups. Peace of mind knowing that your data is safe is almost invaluable.
The dashboard on Xero is fantastic and shows you key information that can help you easily see what is happening financially in your business. The charts and graphs are useful if you are not great with numbers as you can easily start to see trends emerge.
This helps you and your business make better decisions and have “real-time” information at your fingertips.
The reports are also highly valuable to sit down with your accountant on a regular basis to work out how your business is performing and the next steps you can take to growth.
11) XERO IS Free of charge
A bonus benefit for our client’s is that Xero comes free of charge with all our accounting packages!