Prospective clients ask me why they should consider Xero, as I recommend it every time someone is not using Cloud Software (why are people making their lives so hard???). Since I can’t speak with everyone I thought I would make list….It could be longer, but I relented.
1. Simple to Use – user friendly & has free access Xero Support always available. Free training tutorials. Scales with your business. It can do as much or as little as you want.
2. All-In-One Solution – capture your income & expenses, invoice & email direct to clients, send reminders/statements, request payments, run payroll, pay SGC, lodge STP reports with the ATO. It makes your financial data available to you and your Bookkeeper/Accountant. Your information is current & available, super valuable in itself.
3. Inexpensive – low monthly fee, possibly lower it you have your file set up by a Xero Partner who has access to discounts or free periods.
4. Automated – Huge time saver. Auto bank feed and features that massively reduce your admin time.No more manual data entry.
5. Automatic updates & upgrades – Cloud software guarantees you are using the correct tax and payroll percentages. For example, the JobKeeper feature introduced by Xero saved businesses hours of time by adding a free feature to run reports to see it they were eligible, suggesting employees who met the criteria etc. This was provided to all accounts with Payroll Function– I was impressed they didn’t charge a single cent for providing this invaluable assistance to Small Business employers – sorry, side-tracked.
6. Accurate – as the feed is from your bank statement, no human error. Your transactions are captured daily and reports can be trusted. For example, Banks accept Xero reports for financing purposes. Saves time in BAS & Tax return prep.
7. Fuss Free Records – all your business financial records are stored electronically. Saved you time, storage and keeps the ATO happy in case of Audit.
8. Free Back Up – you can keep the required 5-7 years of records required by the ATO in your secure Xero file free. Save additional documents, like business rental agreements for easy access.
9. Easy Reports – you can run a report immediately & get up to date information about your business. What to know who much annual leave your team has accrued – run the report. What to know if a customer is profitable or pays on time? – run the report. Endless information is available when you are up to date to manage your business more effectively.
10. Add-On Apps available – Specialist additions are available for industry to make your life simpler. I recommend Hubdoc to record and upload your receipts on the go. Take a photo of the receipt on your phone, email it to your secure account & move on with your day. No more shoebox, collecting receipts from your vehicle or missing out on expense claims.
Contact me if you want to know more.
Bridgett – Belle Accounting Co.