7 Benefits of Xero
With the right accounting software, you can save valuable time and money. Identifying the right solution for your business can be a challenging. It is vital that you choose an application that is harmonious with your business structure, easy to manage, and is regularly updated.
When it comes to cloud accounting, Xero is a market leader. Xero accounting software has been firmly established for many years in Australia and New Zealand. Currently, it is one of the leading online accounting softwares for both small and large businesses.
Here are 7 Benefits of Xero
Whether you are a novice or a professional accountant, you will find Xero a friendly companion to work with for all your accounting needs. Whether it is invoicing, or other reconciliation, Xero accounting software enables you to do them automatically. There are no thousands of manual records to peruse. All your data will be accurate and up to date. It is secure, fast and accessible anywhere. These are some of the benefits that come with Xero.
Cloud Based Accounting
One of the main benefits of using a cloud-based system of accounting is the fact that it can be accessed from virtually anywhere. Your bookkeeper does not have to come to your office physically for data reconciliation. Xero is live; it can be accessed anytime and from anywhere. Everyone in the world using Xero is running on the same platform. You do not have to worry about emailing of files back and forth.
Automatic Bank Feeds
All you need to do is to register your bank online login details within the Xero system. Xero will download the transactions of the previous day automatically early each morning. You are only left with the simple work of coding and reconciling the transactions. The same procedure applies to PayPal. It can be configure as a virtual bank account and you will be receiving live feeds from your PayPal account to your Xero accounting software.
Simple and Fast Customized Invoicing
With Xero accounting software, you can create and send professional and customized invoices automatically. With online invoicing, you can give your customers a link to the invoice through email. This shows payment history, payment status, and includes a button that allows the payment to be made now. It is simpler and easier to make online payments, both for you and for your customers.
A green tick has been included that gives you the confirmation that your customers have reviewed your invoice. If you do not have financial background, you can still navigate your way easily in the Xero platform. On top of that, you are also able to gain insights on how your business will look like in future.
Automatic Software Upgrades
Once you subscribe to the monthly fee, the software upgrades are free and there are no more installations for you to do. This is contrary to other software providers that require you to be purchasing upgraded versions of their programs every year. There are no downtimes, minimal time haggling over software, and the convenience of working with the latest software with current features. During these software upgrades, your data remains safe and stored in the cloud. These upgrades give you more power to handle your accounting needs and processes smoothly.
After you have paid the monthly subscription fee, there is no limit to the number of users to the app. Other providers limit the number to three of which you are required to pay extra costs. Anyone in your company has full access to it at any one time. The greatest beneficiaries of these feature is people who are required to submit expense reimbursements.
Security and Back Up
When it comes to cloud accounting, security is one of the most important considerations. You do not want software that exposes your date and that of your clients to fraudsters. Xero accounting software offers a high level of security, which is even greater than what most businesses can provide for themselves. In most instances, it is equally safe or even safer than the security systems of online banks.
You only need to keep your login details safe and your business data will always be protected. There are no more cases of hard drives or PCs, which can be stolen from the office, thus exposing your confidential information.
Sometimes you might be caught up in other commitments and forget to back up your drives. This might lead to huge data losses in case of virus attacks or other physical damages like fire. However, with Xero, all your information and data is automatically backed up every day. If your laptop is stolen or computer crashes, all your accounting data remains safe and up to date.
Full Accounting Solutions
Xero ranks as one of the best when it comes to an alternative for QuickBooks. You have full control over accounting and billing and organized to the last details. The amount of integrations it has is amazing. It links with check tools, CRM software, and email marketing programmes.
It allows more than 350 third party programmes and applications, which are seamlessly integrated into the software base. These include Expensify, Freshbooks and Squareup. This is very essential in streamlining an enterprise. You can also do your accounting with your mobile device when on the move, since it comes with a mobile app. It can be accessed from blackberry, iPhone and other smartphones.
Great Customer Care Support
In case you encounter any challenges in the course of your accounting work, the customer support at Xero works round the clock. They are there to assist you with any issue you might be facing at no extra cost. You can reach them through email or directly through telephone.
Xero accounting software is a reasonably priced, powerful cloud accounting solution for enterprises looking for a standard accounting platform. There are many benefits associated with switching to Xero. It is user friendly and among the most affordable cloud accounting solutions, if you consider the wide array of features that are included. As long as you keep your login details safe, all your data within the platform will always be safe.
Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.