5 Benefits of Using Xero For Your Business

Posted on November 14, 2014

How did the end of year tax period go for your business? Were you spending countless hours trying to input accounting details or add up the receipts? Were you aware of what you spent and what you earned? Was it a complete shock when you finally saw your tax returns? Well, there is one simple solution to these problems and an easier way of ironing out your accounting worries. The answer is Xero. Here are five reasons why you must consider making the switch to Xero.

1. Anytime, anywhere cloud based accounting

With a cloud based accounting system, you can access it from not one but multiple locations. This eliminates the need for a bookkeeper to come to your office premises and enter the data. The greatest advantage of using Xero is that it can be accessed at anytime from anywhere. Everyone in your team can view the same version, at the same time, no matter where they are located. Xero removes the need for files to be sent back and forth. You can also stop being concerned about regular software maintenance or buying accounting purchases.

2. Rules coding enables automatic bank transactions

Using the Xero software for your bank feeds is like magic! Since the software has a unique rules coding system, once you create the rules, this software will automatically match all of your bank transactions. You can now finally be free from manually entering code transactions. Even using PayPal with Xero is very easy. All you have to do is set up your PayPal account and you can get live feeds right from your PayPal account into Xero. This automation feature of Xero, makes it easy for users to spend less time on entering transactions and more time on growing their business.

3. Quick, simple and live invoicing

By using Xero for accounting, you can quickly create and send out professional looking invoices that are customized as per your requirement. Through the online invoicing feature, you can then email your clients with a live invoice, which will include the status of the payment, the history of the payment and a Pay Now button for the client to make an online payment. Paying an invoice online is a much more simpler and quicker that traditional payment methods. Another unique feature is a little green tick that informs you if your invoice has been viewed by your customers.

4. Automatic data backup and complete security

Do you know when you last created a back-up of your accounting data? By using Xero, you do not have to worry about back-ups. Since a daily back-up of your data will be automatically stored, you can be sure that all your important data will remain unaffected and safe in the cloud. The makers of Xero have also made huge investments to protect their users from system failures and unauthorised access. With such a strong level of security, you need not have any fear about security breaches.

5. At-a-glance informative dashboard

When you login to Xero, you will be greeted with an informative dashboard, which will show you all your bank balances, your recent sales and the bills that are due. Graphs are also included to show you the revenue going in and out. By having a look at the dashboard, you can easily monitor and manage specific accounts.

Do you want to leverage the advantages of Xero for your business? But you don’t know where to start. We, at Flatworld Solutions can provide you with a trained bookkeeper with expertise in Xero. Find out more about our accounting services.

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