If you as a small business owner ask other small businessman about how their company is doing, maintaining on top of accounts, invoices, expenses, payroll etc., would be one of their top complaints.
Being a small business owner, every individual want an easy-to-use accounting solution, accessible and connectable from anywhere by other members in a team, their accountant and by themselves as well.
Xero is the answer, and first of all, let’s understand the meaning of Xero:
What is Xero?
Xero is a small business online accounting software that allows you to share access to your current business numbers with your bookkeeper and accountant so that everyone is up to date. The accounting characteristics of Xero include bank reconciliation, cash flow management, financial statements, payroll and payment processing.
Here are nine reasons you must use Xero to help you run your business if you’re a small business owner.
Its mobility, and on-the-go use must be the #1 reason for choosing Xero online. Xero uses cloud accounting to keep it 24/7 available. You can conveniently access details with an additional advantage of the same functionality combined with a mobile app, regardless of whether you are using an Android or iOS.
Xero helps you wherever you are to stay on top of your company finances. Xero also works hard to ensure that, wherever you are, wherever you want, you and everyone else who wants to access your finances work from the same information.
- Boost cash flow and get paid more easily
Every organization needs some compensation, and Xero equips small companies with resources that can be used to get paid more efficiently.
Go far beyond “traditional” printed invoices and begin to use invoices online. You should send them an online invoice rather than giving your customers a PDF file or, worse, a printed document. Not only it is more comfortable, but you can also see if they have opened it, and through your invoice, they have the option to pay you electronically. The quicker the process, the more quickly you get paid.
- Live Data that multiple users can access
Many people can use it simultaneously, and everybody can see the same data at the same time since it is cloud-based. See where your company is, every time with live and up-to-date info, day or night.
You can immediately see bank account balances, sales and upcoming bills via the Xero dashboard. You can add supporting documents to transactions, so that hard copies do not need to be stored, and with a simple click, all users can see this documentation.
It is also possible to personalize the Xero dashboard to fit you and your business.
- Simple Integration
Apart from other 800 business-related applications, Xero seamlessly integrates so that an individual can connect to the various business programs they are already using. Some of these will make it so much easier for your life.
Tired of entering receipt info, check out the Receipt Bank, take a picture of receipts, and put them away. They’re going to interpret the information and brought it to Xero for a businessman.
People’s opinion about Xero is just a link between a small company and its accountants, but Xero is so much more than that. The massive boost to your competitiveness as a corporation is one of Xero accounting software’s key advantages.
In reality, Xero has been named one of the five tech winners that SMEs can use to improve their productivity and is continuously recognized as one of the top pieces of software in its category.
- Pay as you go service
Every small business owner cherishes one thing, it’s financial security. Every company has its ups and downs, and entrepreneurs ideally want to avoid unnecessary bills when they may be going through a recession period.
Fortunately, Xero is a monthly subscription program “pay as you go,” and there are no setup charges, hidden fees, or one-off payments in your wallet that burn a hole.
If you are trying to keep track of financials, this is perfect because you don’t want too much uncertainty regarding expenditures and overheads. It also helps with the cash flow, which can be hard to handle in a small company.
- Customer Support
It’s rare that Xero clients will ever need to contact their support team, as Xero is easy and convenient to use as possible for small businesses. Even if the problem/query arises, their Xero Central support centre is available 24/7 to answer your questions and FAQs.
The majority of people who use Xero have never had to get in touch with them, at least in our experience, but it’s useful to know that they’re there to support.
- Secured Data
With various layers of data privacy as well as security, Xero offers two-step authentication on the login screen which ultimately helps to protect your data.
With multiple access and user accounts levels, you can control who has access to what. So, it is simple to monitor your accounts back to re-educate anyone who has made a bookkeeping mistake.
- One Touch Payroll (STP)
With the latest changes to legal requirements of government, it is crucial that you automatically submit the details regarding payroll to the government by STP if you have employees. Xero use to do this very instantly and effectively.
Xero accounting software makes managing the books and accounts from anywhere convenient and straightforward for the business, significantly reducing downtime and the risk of human error. If you face any issues as a small business owner, you can contact Xero Accountants in London as they are experts with specific certifications and experience.