Xero: Cloud-based Accounting for the Modern Business

A desire to combine high quality service with the flexibility needed to penetrate the global marketplace has increased the popularity of cloud-based business. This option is great for SMEs that are wishing to expand and increase accessibility.

Xero are a company which provides cloud-based accounting software. They aim to acknowledge this trend and provide an alternative to traditional accountancy practices which better suits their tech-savvy clients.

Designed for use by accountants and their clients, Xero reimagines the management of business finance for the internet age. Users are able to access the software both on their desktop and through the Xero Touch mobile app, available for iOS and Android.

What are the benefits for clients?

Xero is an option that can be seamlessly incorporated into the business model of any cloud-based business. After initially connecting to business bank accounts Xero can import and categorise transactions daily.

Xero is frequently listed in rankings of finance and accounting software. It is consistently highly rated by users and offers a high number of third-party integration options to adapt the software for specific uses.

Those who have use office-based accountancy firms could save time, money and effort by switching to a more flexible cloud-based system. It can improve both invoicing and communication systems within businesses as well as speeding up transactions with quick online payments.

Businesses increasingly migrate to home-based or flexible office spaces. Cloud-based accounting software is a way to access experienced accountants without enduring a lengthy commute to a city-based office.

What are the benefits for accountants?

Accountancy firms no longer need to conduct their business solely from within the confines of an office. Instant access to client finances eliminates the wait for important documents and allows accountants to easily manage different aspects of client finance.

What are the benefits of using the cloud?

Small business owners who travel between clients, suppliers and the office are able to update the Xero Touch app while on the move. Receipts can be captured and organised with the app and invoices can be created on the go and sent to clients.

Invoices can be paid online by clients which results in quicker payment and a reduced number of journeys for the business owner.

Financial reports can be created through Xero and the user can grant permission for others to view the information. Reports can also be exported to google docs to allow collaboration between users through the cloud.

Users can be based anywhere in the world, or continue to use the app while travelling both nationally and internationally.

How could Xero benefit my business?

Accountants are accessible and can provide updates on your finances to suit your schedule. Avoiding complicated spreadsheets and customer payment delays means you can have an up-to-date and clear knowledge of your financial situation.

Xero can be easily accessed, understood and used by multiple members of your business, ensuring that all financial information is collated in one location.

Does it connect to other apps?

An increasing number of apps are available as add-ons and able to connect with Xero. This adds functionality and new options for invoice creation and payment, inventory control and international currency payments.

Can accountants provide guidance for using Xero?

Many chartered accountants now have specialist Xero accountants experienced in using the software to its full potential and aware of which add-ons would suit the specific needs of clients.