Xero is an essential accounting app for the Ask Tobie business. In this blog post, I am going to put it under the microscope to look at just a few reasons as to why that is.
A key part of the information I offer in both my articles and courses was learned through experience. I have tried several other accounting software to know that Xero is the only one you will ever need to automate your business. Simply put, my hindsight can be your foresight, so that you can run your business without the drama.
What Exactly Is Xero?
Xero is a cloud-based accounting app for both small and medium-sized businesses. It has an impressive array of features so that all of your financial information is up to date and in one place. Moreover, due to the fact that it is a cloud-based service, you also continuously get secure, automatic backups. It also means you can access your information anywhere in real-time. This level of digital freedom is particularly useful for businesses that spend a lot of time on the road. Win-win all round!
Furthermore, this dynamic accounting app automates everyday business tasks to save you tons of time. From importing bank transactions to sending automatic invoice reminders, Xero handles simple day-to-day tasks so that you can get your accounting done faster than ever before.
In addition, there are reliable experts on hand 24/7, as well as built-in options to help you navigate your way through minor issues you might encounter during setup. Consequently, anyone can use Xero even if they have very little technical or financial know-how! The Xero dashboard is an intelligently designed and intuitive hub; it allows you to see at a glance how your business is performing. It can also be customised so you can decide what information is most important to include here.
The Only Accounting App You’ll Ever Need
Xero’s easy-to-use invoicing software helps customers to pay you faster. It also adds an element of professionalism to your brand. Firstly, you can customise the look of your invoice by using the invoice templates and uploading a logo. Secondly, it integrates with Stripe to accept debit and credit card payments straight from a Xero online invoice. Other functions of this accounting app include:
- Fast bank reconciliation- Connect with your bank to see transactions flow in automatically. (This means when you reconcile your accounts, the figures will be accurate and up to date).
- Easy-to-use Payroll software- Making it simpler to organise paying your staff. With just a few clicks, employers can pay their staff with Xero calculating tax and annual leave.
- Record and update your assets- Update business assets in real-time (such as hardware and office equipment).
- HMRC-recognised Making Tax Digital software- Compliant with the new HMRC initiative.
Trusted by over 2 million small businesses- including my own- Xero’s accounting app has all the time-saving tools you need to grow your business. There are three package options available aimed at small, medium, and larger-sized businesses so there’s something for everyone.
In summary, Xero helps you stay connected to your business on the go so that you can run your business from anywhere with ease. Due to its impressive functions, it is a strong contender with the likes of QuickBooks and other accounting software. It certainly won me over and I don’t doubt it will with you too.