Thinking of moving to Xero?

Xero is a cloud-based accounting software which is popular worldwide, and it is not hard to understand why. I have first-hand knowledge and experience of this software and have seen the benefits it can bring to my own business. Also, my clients have reaped the rewards too! Are you using Xero software?  If so, are you making the most of its functionality and capabilities? 

There are multiple advantages of Xero, and it makes sense to transfer your accounting software to them if you’ve not done so already.  Xero is cloud-based allowing you to access financial data anywhere and anytime. You can reconcile bank transactions, track expenses, manage budgets, produce reports to gain insights into your business’s financial health and use Xero’s tools to ensure you stay tax compliant. Users can benefit from Xero’s integrations with a wide range of third party apps for functions such as payroll, inventory management and CRM.  Xero employs robust security measures to protect your financial data and is suitable for businesses of all sizes.  What’s not to like?!

If you are already benefitting from using Xero, here are some tips you may like to try:

• Add accounts to a watch list on the Xero dashboard.  This will help you to keep an eye on accounts that are important to you.. For example, you could add age receivables so you can see the amount of money owed to you by your customers, or add PAYE and VAT so you can keep track of the taxes owed to HMRC, or you could add an overhead account so that you can keep track of spending.
• Use tracking categories to separate the income and expenditure of departments, branches or projects.  This will help you to produce insightful reports.
• Xero has partnered with Crezco to provide an in-software supplier payments solution. You can create a payment run for your suppliers in Xero by making one payment from your bank account to pay the supplier invoices you’ve selected.

Overall, cloud-based software like Xero makes accounting an infinitely smoother process, saving a business time and money that can be reinvested in growth.

Are you interested to find out if your business could move to Xero?  Accredited Supplier Sones Accountancy Services is offering a free health check on the accounting software you use to see if this is possible and to show you where improvements could be made. If you would like to take up this opportunity, simply email hello@sonesaccountancy.co.uk. Please note, health checks are provided on a first come, first served basis and are limited to two businesses per month.  Remember to assess your business's specific needs and requirements before deciding whether Xero is the right fit for you.