With so many different accounting software solutions on the market, it can be difficult to know what the best option is for your small business. Chances are, you’ve heard Xero Accounting Software frequently mentioned. But have you been wondering why it’s so popular? In this article, we’ll discuss six benefits Xero can offer your small business. Are you looking for a skilled, cost-effective accountant in Auckland to help with your small business’ bookkeeping? Contact the friendly team at Consol Group at info@consolgroup.co.nz today.
1. You Can Access Xero Anytime, Anywhere
Xero is a cloud-based platform. That means that it allows you to work when you want, where you want, and on any device, including your smartphone – making it a highly flexible option for your accounting needs.
All you need to do is to purchase a monthly package for Xero Accounting Software and log in from a device of your choice. So whether you’re out in the field visiting clients, or just don’t have an office set up yet, Xero helps you stay on top of your business’ finances.
Xero is also a great option if you need to collaborate with colleagues or external accountants. You can easily add other users to your user’s list to grant them access. This makes it a handy option if you have clients or team members based internationally, as you can view your info and balances from anywhere in the world. What’s more, the cloud-based nature of Xero Accounting Software means that all your users will be working off the same, up-to-date data.
2. Get a Clear Financial Overview of Your Business
As the busy owner of a small business, you probably don’t have much time to spend looking over the nitty-gritty of all your business’ financial details. Fortunately, Xero offers you a clear financial picture from the outset.
With its unique dashboard display feature, you can quickly get a snapshot of how much money’s going out and coming in. The dashboard also offers quick links to the critical parts of your accounts, allowing you to see your overall expenses, creditors, debtors, and bank balances from a single, convenient place.
Using Xero Accounting Software makes it easy to track payments and reconcile bookkeeping errors, even if you don’t have a detailed accounting background. Anyone can do it!
3. Xero is a User-Friendly Software System
When you’re running a small business, you often find yourself having to multitask. This means that you or a team member without a financial background may still end up having to handle accounting or finances. This is where Xero’s user-friendliness comes in.
Xero uses clear terminology, making it easy to handle your bookkeeping needs even if you don’t have in-depth accounting knowledge. It enables you to upload files and supporting documents for simple transactions. When you use Xero Accounting Software, you get to streamline the process and work off a single platform.
4. Xero Makes Managing Invoices Easy
Don’t worry about balancing Excel spreadsheets and separate Word documents to track expenses and create invoices when you use Xero.
Xero allows you to easily create and track invoices customised to your business’ needs. With Xero, you can create a stylish, professional-looking invoice with just a few clicks and email it directly to your client. What’s more, these invoices can be ‘payment-enabled’, allowing the customer to pay you with any major credit card, right from the invoice itself!
These immediate payments mean that the money comes in much quicker. Save the time trying to create invoices yourself when you use Xero Accounting Software. As invoices are recorded and saved as soon as they’re created, Xero makes it easy to track reconciliations. Plus, you can see whether your customer has opened your invoice, and will be alerted when payment is made.
5. Xero Makes Importing Information From Your Bank Easy
You don’t have to sit down and laboriously manually import bank statements into your accounting software when you use Xero. You can simply set up a bank feed allowing Xero to handle all the integration for you – saving you valuable time so you can focus on running your business.
Automated bank feeds give you daily updates and regular bank statements, which means that with Xero Accounting Software, you get to stay constantly updated on the state of your business’ finances. Plus, this easily lets you track sales invoices, match payments against purchases, and reduce bookkeeping costs.
6. Add As Many People As You Need
Other accounting software systems limit how many people you can add to an account – but Xero doesn’t. Instead, it allows you to add an unlimited number of users, making it a fantastic option if you’re anticipating future growth, or need to enable account access for colleagues from different departments or external accountants.
So if you’re looking for a solution for your small business’ accounting needs, Xero Accounting Software is an excellent choice. If you would like a team of trusted, friendly professional accountants who can help take the burden of bookkeeping off your shoulders entirely, just contact Consol Group at info@consolgroup.co.nz. We’ll help you save time on balancing the books, so you can focus on what matters – running your business.
