Why use Xero for Your Small Business Accounting?
Is your manual accounting taking over? Losing time and energy over the management of your accounts shouldn’t be part of running a successful business. Xero’s online accounting platform has been specifically designed to cater for small business owners, alleviating the complications and pressures of invoicing and payroll.
1. Everything is in One Place
Consolidating your small business accounting needs in one place isn’t just convenient, it’s also a guaranteed way to add extra safety and security to your financials. Xero is an all-in-one system, and what that means is you effectively manage and tidy your accounts and records through their innovative and user-friendly interface. Through Xero’s smooth financial migration system, all of your statements, bank reconciliations, tax returns, reports and Inland Revenue filings are secure in one place and accessible wherever you may be.
2. Fully Customisable to Suit Your Needs
Xero offers small businesses a complete solution in their world of add ons. From payroll services to the integration of other companies and their products, you can rest assured you are enlisting in a platform that will take control of your finances. Xero gives you the freedom of saving and sharing information through its duplication features, making transactions, communication and collaboration easy and straightforward, allowing an increase in the possibilities for your business.
Through Xero’s add ons, you can effectively control your point of sale, reconcile your banking daily and coordinate stock all through one interface, giving you more accessibility to your records. Xero facilitates and connects all of your accounting information in a customisable way that is best suited to your needs, allowing you to access the information necessary to evolve and grow your business.
3. Real Time Collaboration
Small business accounting with Xero allows you the flexibility to connect and collaborate with your accountant, employees and clients from anywhere in the world. With the power of the internet and the usability of Xero’s system, you can access information at the same time as your staff, ensuring your accounting is up to date and relevant. Xero enables you to comment and discuss business data from the security of a singular online source which gives employees a space to submit expenses, manage leave and send invoices instantaneously.
With this information being accessible in real-time, you create an open space to migrate and facilitate all of your small business particulars methodically. With one click you can create financial reports and budgets using real-time data, effectively linking costs to jobs and managing tasks on the go.
4. Seamless Invoicing
Xero recognises that each small business has different accounting requirements, which is why their customized invoicing and system is unparalleled small business accounting software. Xero’s customisable online invoicing system is designed to help you to get paid faster and allows you to communicate with your clients cohesively.
Managing your invoices and quotes is made easy through Xero’s dashboard, this online tool will allow you to see how much money is expected to be coming in, and who owes you the most. This gives you the ability to prioritise bills and organise the reconciliation of older accounts.
Another great feature of Xero is its ability to send invoices straight from the platform to your customer, it also gives them the option to download, print and pay straight away with the push of a button. Xero also allows you to add files by attaching them to your invoice, so sending across contracts and summaries of work becomes one simple transaction that is fully customisable depending on your client.
5. Mobile Friendly
Accessing all of your small businesses accounting data through your mobile is essential in this day and age. The great thing about using Xero for your accounting services is that it has a user-friendly app that is simple and easy to use – if you have ever used mobile banking, you can use Xero. Some of the things you can do while using the Xero mobile app are:
- View your balances, profit and loss, outstanding invoices and bills to pay all on the dashboard
- Convert quotes into invoices at the tap of a button
- Manage your invoices and bills by sending invoices via email or messaging app to get paid faster
- Reconcile accounts and code transactions within seconds.
With regular updates to improve performance and security, Xero’s mobile-friendly software system will give you the freedom to manage your accounting from the comfort of your mobile device with peace of mind
We Are Here To Help!
If you have any further questions about how Xero can assist you in the accounting of your small business. , give the team at Consol a call today, we offer comprehensive small business accounting services and are proud to be a Xero Platinum partner. You’ll wonder why you hadn’t made the change to Xero sooner!