6 Reasons Why Your Business Should Be Using Xero

 In Bookkeeping, Small Business Accounting, Startup Accounting

Every business needs to keep on top of its finances. Making sure you’re in control of what’s going in and out of your small business’s account is crucial to the financial survival of your company. Any reliable and trustworthy business needs a good financial structure that will incur profit, and the best way to keep in control of your business’s finances is through Xero Accounting Software. Xero has over 1 million subscribers and is very intuitive and easy to use. Here are six reasons why your small business should be using Xero Accounting Software.

 

Easy Invoicing

Sending professional, custom designed invoices that are tailored to your business has never been easier. Xero Accounting Software simplifies the process of creating invoices and taking payments from PayPal, credit card, debit card, helping you to increase your cash-flow.

You can also set up automated invoice payment reminders, so that clients are prompted to make any upcoming payments, removing the need for you to chase down any owed payments.

 

Bank Reconciliation

Bank reconciliations take time and can be a really daunting task for many business owners and managers. Xero can be connected with your business’s bank accounts, and can automatically imports bank and credit card transactions for reconciling.

The beauty of cloud accounting software such as Xero is that you are able to record your expenses and send invoices on the go via their mobile app.

Reconciling/Bookkeeping is not always a straightforward process and can be time-consuming when dealing with a large volume of transactions. We recommend getting in touch with one of our esteemed chartered accountants who’ll be able to advise on how to streamline the process and increase your productivity.

 

An Intuitive Dashboard

Xero Accounting dashboard relies on intuition and is incredibly easy to use. It supplies an at-a-glance view, letting you instantly know about the overall health of your business’s finances. The following information is available at a glance, and is easy to access:

  • Monthly cash flow,
  • Bank account and credit card balances,
  • Outstanding invoices,
  • Sales/expense budgeting graphs

You can also customise your dashboard to track specific areas, providing you with an all-in-one monitoring solution.

 

It offers excellent data security

Utilising software that holds all of your business’s financial records may leave some business owners feeling uncomfortable about the safety of their sensitive information. However, Xero Accounting Software securely feeds data directly from banks, software applications and financial institutions, removing the need for any human interaction. Alongside this, Xero backs up your data and protects your sensitive information with industry-standard security measures, so your data is always protected.

 

Real time data

Staying on top of the ingoings and outgoings of your business’s finances has never been easier, as Xero offers real-time data of your company’s financial situation anytime and anywhere. This instant access gives you better control over your finances and improved decision-making abilities.

 

You can use it with any device

Xero is available on any device – whether you need to use it on the go on your phone, or whilst your working away on your laptop, you simply need an internet connection to run your business! The mobile app is available for updates on the go!


Choose 3 Wise Bears as your Specialist Xero Accountants

3 Wise Bears are specialist Xero accountants for contractors, freelancers, small businesses, e-commerce and property landlords. We have knowledge of how to make Xero work for you and make accounting and tax stress truly a thing of the past. Get in touch with one of the experts today.

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