Free trial accounting software and online bookkeeping software for small businesses to help manage invoicing, payroll, reporting, inventory, Cash Flow, VAT and more.
In a land predominantly dominated by sheep, where the rugby player is king and the locals get the same amount of rain as us here in England. There sits a software company, hard at work, developing what could possibly be the best cloud-based accounting software in the world!
By process of elimination you’ve probably narrowed it down to either Wales or New Zealand, so to clarify they’re the team that play “all in black,” and if that’s still not clear, I’m talking about New Zealand. Xero originates from New Zealand.
Things have grown tremendously since Xero’s inception in 2006, with approximately 1500 employees they now boast operations on a global scale including offices in New York, Sydney, Singapore, London, and even Milton Keynes!
“So why Xero accounting software, what’s so great about it?”
That’s a very good question. I’ll kick this off by saying you’re probably fine with your current accounts system. I wouldn’t change a thing and if your accountant got hit by a bus or the photocopier decides to spontaneously combust causing an office fire then everything will carry on working as normal won’t it? Won’t it?…
There are some obvious advantages to a cloud based accounting software. Cloud is something I think Xero often overlook in their marketing, probably because they’re focused on improving functionality and competing with the likes of Sage and QuickBooks etc. Cloud is “a given” in their world, but for many small businesses, moving away from a paper based solution is a big deal and brings some distinct improvements.
It has massive time saving potential. The Xero platform enables multiple user access and encourages collaborative working. This means, for example, your team can upload files, post timesheets or complete expenses on the same system all at the same time. Gone are the days when you’d wait your turn to get access to the “shared” Excel spreadsheet.
Xero increases your productivity with mobile working. Gives your team access to the system anywhere in the world on any device, supports flexible working hours and allows them to make the most of their time wherever they are. That could mean in the office, in the van or even on your 60ft yacht in the Med!
It improves your business’ workflow and efficiency. Now I understand almost every product on the market claims to do this, however with Xero it’s actually true! Paper goes missing, paper costs money and paper takes up valuable space in your office. Compare that with storing files and transactions online in one easy to access, yet secure location, and you’ll soon realise why there’s no need to cling to that old grey filing cabinet stashed in the corner!
I’d also like to mention the app marketplace which hosts a range of plugins and apps specifically developed to integrate with the Xero platform. For example Google’s powerful productivity tools suite allows you to upload and store documents to your Google Drive, export reports into Google Sheets and view your Gmail messages alongside transactions.
Make it easy for your customers to pay online with the PayPal app and you can spend less time chasing payments and more time running other parts of your business.
They’ve even developed a mobile accounting app so you can access your accounts on the move from your IOS or Android smartphone. Now that’s smart!
I’m sure you’ll agree the list of functionality is quite impressive:
- Send Invoices & Quotes
- Enter Bills
- Reconcile Bank Transactions
- Manage & Submit VAT Online
- Track Inventory
- Download Mobile app
- View Business Performance Dashboards
- 24/7 Online Support
- Integrate with 500+ apps
- Bank-Grade Encryption & Data Security
- Expense Claims
- Accept Payments
- Purchase Orders
- Multi – Currency
- Store Files & Transactions Online
- Manage Fixed Assets
- Search Historical Records
- Workplace Pensions
Currently Xero offer a three tier pricing model. All plans cover the basic functions and you can cancel or change at any time. This ensures the solution grows and adapts as your business grows.
As you can see, Xero is a leading online accounting software for a reason. Endless functionality, a host of applications and the flexibility to change as and when you need to. It’s bringing small businesses to the forefront of cloud technology and the results speak for themselves.