Xero and the benefits of cloud accounting – Part 3

Now that you have already been given 10 of the major benefits of using Xero accounting software, we want to introduce you to our last 5 favourites. You know by now that if run your own business then you cannot get around the fact you will need to do some element of bookkeeping. At CHA, we have worked with a number of cloud accounting packages and by far the stand out one in my opinion is Xero. It is aimed at business owners, but has all of the functionality that accountants and bookkeepers also need. Cloud accounting has become extremely popular in the last few years, and with the imminent changes with HMRC’s Making Tax Digital, I can only see cloud accounting becoming an essential tool for all business owners. With its ease of use and excellent functionality, it is not hard to see why Xero currently has over 1 million subscribers. Xero is innovative and is always improving its product, leaving the competition in the shadows. Here are 15 impressive features:

Xero and the benefits of cloud accounting – Part 3

Last year, Xero introduced 2 step authorisation to log in, which is on par with bank level security.  It significantly reduces the risk of someone gaining access to your account, providing you with an additional layer of security.

As Xero is in real time and has unlimited users, it makes it even easier to collaborate with your accountant!  You can both log on at the same time and see the same information.  No more taking back ups and sending over and the potential of you both working on different versions!

Xero also has a payroll function, which eliminates the need for a separate system and no cross checking across platforms.  It is simple to use and streamlines the whole payroll process – and posts all the relevant information straight into your accounts, so another time saver.

The quotation function is a great time saver, and eliminates numerous emails back and forth.  Simply raise the quotation and email your quote to your client.  They can then approve or decline online, and can easily be amended if required.  Once approved, the quote can be converted into an invoice, meaning no duplication of work.

Lastly, the fantastic dashboard gives you an instant picture of your finances.  You can see your bank balances, invoices, bills and expenses at a glance, so you know what is owed with ease – no need to run clunky reports!

If you’d like to take up our generous offer of a free 30-day trial, with no obligation, just get in touch and we’ll do the rest!  We can also convert your existing Sage and Quickbook records to Xero for you too.  It’s useful to note that Xero’s technical support is fantastic – they really do look after all of their subscribers and value each and every one.

6 July, 2017

Cheryl Price If you have any questions about this article or would like to discuss the subject further please contact:
Cheryl Price of CH Accountancy & Bookkeeping Ltd at hello@chaccountancy.co.uk.

Category: Accounting
Article Area: Starting a Business

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