Most professionals spend hours, or even days struggling to work through their receipts at the end of a tax year – desperately sorting through boxes and scribbling down haphazard calculations. Even if your accounting efforts are reasonably organized, you might have found that you got quite a shock about how much you owed when your bookkeeper presented your finished return.
The tax part of running a business is by far one of the most frustrating issues that entrepreneurs have to deal with. After all, you’d rather be focusing on growing your business than crunching numbers and writing up spreadsheets. Understanding your outgoing and incoming expenses is complex, time-consuming, and frustrating. Fortunately, with the help of your bookkeeper, and Xero, keeping track of your finances could be much simpler.
Cloud Based Accounting
The biggest, and perhaps most obvious, benefit of Xero is that it works from the cloud. In other words, you and your bookkeeper can access information about your business finances from anywhere, so long as you have a password and secure connection. You no longer need to trail all the way to your bookkeeper’s office, or have them come to you just so that you can access some advice about the data that you’ve collected. Instead, Xero can be accessed from anywhere, and the information you see is all updated in real time.
With the advent of cloud based accounting, you no longer have to worry about emailing files back and forth, dealing with software maintenance, or even purchasing accounting packages!
Simple, Quick, Customized Invoicing
With Xero, companies can create, automate, and send their own professional and customized invoices. In other words, you give your clients a better insight into the professionalism of your business. With online invoicing, customers can be provided with a live invoice link that updates according to payment history, and payment status. What’s more, these invoices include a useful “Pay Now” button for quick payments online.
All of these invoicing features makes paying for work or products simpler and faster for both you and your customers. You get to keep track of who’s up to date with their payments, and your customers get to send money in just a couple of clicks.
The Interactive Dashboard
One of the first things you see when you log in to Xero, is also one of the biggest benefits of using the program. The dashboard instantly shows you a live feed of your bank balances, upcoming bills, recent sales, and more. From papal accounts and credit card accounts, to money coming in, and money going out, you can see everything that matters about your finances in an instant – and your bookkeeper can keep track of it all too!
The Xero dashboard can act as a central hub for a business, where all of the most vital information is presented to you at a glance. With the automatic bank feeds, you can even remove the annoyance of having to go through all of your accounts and figure out which payments have gone through and which are still waiting in limbo.
Security and Automatic Backup
Let’s face it, most of us forget to back up the data that we keep regarding our accounting. We get busy with other aspects of running a business and hope that nothing gets lost or stolen before we can hand the data over to our bookkeeper. Unfortunately, this is only a viable solution until something goes wrong.
Fortunately, with Xero, all of the data that you input is instantly backed up, so you don’t have to worry about remembering to back up your information manually. That means that if your laptop is stolen, your computer crashes, or anything else happens to your accounting system, you can still access all of your data without an issue thanks to the cloud.
What’s more, Xero provides a high level of security for its clients – one that has yet to be breached. This makes it a great solution for people concerned about the security of cloud data. Today, bookkeeping with Xero only makes sense.
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