As a small or mid-sized enterprise, you need an accounting solution that can be accessed anywhere by you, your team of administrators, or your accountant, one which is easy to use and will enable you to invoice clients and follow up on unpaid invoices. Above all, you want a solution that you can afford.
Xero is an amazing online platform that offers accounting services for your business and meets all the requirements above.
Here are 10 things about Xero online accounting:
1. It enables business owners to access their accounting information on the go
Anything you want on the platform can be accessed at any time thanks to Xero cloud accounting. The service is available as a PC, Android, Mac or iOS application.
2. Online invoices
Business owners can receive payments quickly using the built-in invoice feature. Xero software for accountants makes it easy to find out whether an invoice has been accessed and allows recurring invoices to be scheduled. This feature also enables accountants to follow up invoices that are yet to be paid.
3. It is an accounting platform that saves time
Xero automates tasks such as backups, invoice reminders and rules that allocate items to their respective analysis code. You can easily transform a quote into an invoice, set reminders for restocking and bring forth purchase orders in one system.
The software automates reconciliation with direct bank feeds. You just need to click when an invoice or expense match is found.
4. Many users can access the live data
Given that the platform is cloud based, information can be viewed simultaneously by a number of people. The Xero dashboard enables users to access the balances, bills and sales. You don’t need to keep hard copies of documents when you can easily upload them and view them on the platform.
5. Efficient integration with other apps
Easily connect with over 700 business apps that you already use. With Xero, you only need to take a picture of receipts and they will parsed for you.
6. User-friendly platform
Each page in the set up process has a video that demonstrates what you are required to provide, adjust or do away with.
7. Reasonably priced
The pricing at the time of writing this article begins at $9 per month. There are other different price levels that unlock more accounting features that you may need.
8. Easy reporting
The modes of reporting can be customized in ways that meet your business needs. Budgets and reports can be viewed at any time and exported to Excel, Google or PDF.
9. Data security
Xero online accounting provides multiple levels of data security and two-step authentication while logging in. Access levels for different accounts can be controlled. Moreover, all areas on the platform keep records of users actions, so it is easy to re-train people that introduce errors to the accounting system.
10. Xero is compliant with Single Touch Payroll (STP) regulations
You need a way to instantly submit your payroll data to the authorities. The Xero Payroll saves on time used to manually enter employee data. Through an app, your employees can input their time and it will instantly reflect on your account.