What is xero?
You may have seen advertising for Xero and wondered what it is all about. Basically Xero is a cloud based accounting platform where you can manage your business finances including invoicing, payroll, accounts payable & receivable etc.
The advantages of using Xero are;
- It is cloud based, therefore there is no software to install on your computer,
- You can access your data any place, and time, from any device!
- Xero can receive data directly from your bank daily, which cuts down on data entry and allows for rapid bank reconciliation. No more spending hours trying to work out why your bank account doesn't balance!
- As Certified Xero Advisors we can access your data without you having to email data files, or send them on USB or disc only to find the attachment can't be opened or the wrong file is sent by mistake.
- If you're unsure of the correct treatment of a particular transaction you can flag it for review by us, we login in, allocate the transaction as necessary. Xero is designed with collaboration in mind between the business owner and advisor,
- It's quick and simple to learn which translates into giving you time to focus on other things!
These are just some of the advantages of using Xero.
But what If i don't need a full featured accounting package to manage my business?
As Xero Partners we are able to set you up on what is called a Partner edition plan. These plans include; bank data feeds, management of GST obligations (if applicable), and reporting options such as profit and loss, balance sheets etc and are only available through Xero Partners.
These partner edition plans are are ideal for;
- New businesses just starting out,
- Small sole trader business, and
- Businesses without employees.
What if i already use another accounting package but want to change to xero?
There are many options in relation to converting across to Xero from another accounting package. When you decide to change to Xero we can tailor a plan that will result in minimal business interruption.
