Xero, one of the most popular pieces of cloud accounting software in the market today, is popular among business owners for a reason – it can be hugely advantageous for them.
But what exactly is Xero and what does it include that can benefit your business so well.
We’ve detailed everything you need to know about Xero in this blog.
What is Xero?
Xero is an online accounting software platform, perfectly suited to the needs of small and medium-sized businesses.
Whether you are a retailer, manufacturer or startup, Xero allows businesses to take control of their finances and streamlines accounting and bookkeeping by removing the need for stacks of paperwork.
But the full use of Xero goes beyond that and is difficult to overstate. Here’s a list of just some of Xero’s features:
- easily send and pay invoices online
- track the time and money you spend on projects
- manage stick, invoices and orders
- pay bills with Xero to reduce office administration
- keep track of spending
- process VAT
- accept payments from PayPal and Stripe
- manage, record, claim and log receipts in one place
- administer payroll.
Xero also allows businesses to keep up with Making Tax Digital, whether that for VAT or, as will be obligatory in time, income tax and corporation tax.
If in the future you’re on Xero and are unsure about whether it supports a particular function that you need, you’ll also benefit from its search tool
Benefits of using Xero
As you can see, there are a lot of functions that Xero can assist medium-sized businesses with. But the benefits of Xero also come from its design as accounting software.
The software is easy to use for anyone, no matter their experience (or lack thereof) with online accounting, given the benefits of Xero’s central dashboard.
Meanwhile, all your contacts are kept in one place, as well as all your files.
There’s even a Xero app that you can use on your phone, allowing you to keep an eye on your business no matter where you are.
Your accountant, meanwhile, will be able to see all your data in real-time on their own device at the same time as you, making video and phone meetings far more productive.
Xero also boasts a secure login system, so you can rest assured that all your business information is kept secure with extra layers of security.
Benefit from Xero today
While we would say Xero is a relatively intuitive accounting platform for businesses to use, if you want to get the most out of it, you may need a guiding hand during your introduction to the software.
We would be happy to act as that guide for you, providing you with all the training and support you need as you begin your cloud accounting journey.
We’re expert accountants who use Xero daily with a range of clients who have benefitted from the software. We’ll make it our mission that you benefit, too.
Talk to us about cloud accounting.