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Xero Accounting Software
Xero is an online cloud accounting software, which means its accessible through the internet, rather than having to physically install it on your computer. Xero originated in New Zealand back in 2006. Today, Xero they're a major player in the cloud accounting game and they lead the New Zealand, Australian, and United Kingdom cloud accounting markets. Globally, there are more than 2 million subscribers that use Xero.Cloud computing means that everything is stored, of course, in the cloud. So you don't need to worry about your files taking up huge amounts of space on your computer as everything is saved safely on the cloud.
1. Xero is cost effective
Xero prices are low compared to other accounting softwares available in the market.
2. Inventory Management
Xero provide inventory management. The inventory reports are helpful in tracking the inventory levels. Xero, includes inventory management in every one of its plans,You can still get inventory management functionality for much less with Xero.
Xero fixed assets management is efficient. The fixed assets are linked with purchases and fixed assets module is easy to operate.
Fixed assets management comes standard in Xero-complete with depreciation, disposals, and reporting tools. So, if your business has a lot of property, vehicles, and other equipment, and you want to use your accounting software to keep track of its value and condition, Xero could be a better fit.
Xero is a great choice for sole traders or small- to medium-sized businesses.
It can take care of invoices and quotes. There's a huge variety of add-ons you can download for a more customised approach. It has payroll module and customised reports. The bank account statements can be uploaded into the software. Xero is cost effective for business. The businesses do not need to invest heavy in the software.
A Clear Financial Overview
One of the biggest benefits of the Xero Accounting Software is that it provides a clear financial overview of your business. Now, how is that possible? Well, Xero has a unique dashboard display feature, which allows business owners to clearly see how much money is going out and coming in. The Dashboard display provides quick links to the most important parts of your accounts and also gives you a snapshot of your overall expenses, creditors and debtors, and bank balances. And this allows for the easy tracking of payments, and reconciliation of bookkeeping errors.
Access from Anywhere, Anytime
Since the Xero Accounting Software is cloud-based, you can work from wherever you want, when you want, without having to be limited to a single PC. This unique software can be accessed on your smartphone and doesn't require any type of software installation or IT maintenance. To get started, all you have to do is purchase the monthly package and then enter your username and password. Any information you change or add can then also be accessed by other users after you include them in the user's list.
Easy Creating and Tracking of Invoices
Those days are gone when people used Excel spreadsheets to track all expenses and incomings, and then create invoices in a separate Word Document. With the Xero Accounting Software, your invoices are not only customized for your business needs, but creating and tracking is also fast and simple. All it takes it a few clicks and you can easily create an invoice on your computer or mobile device for a client and then email it immediately. Invoices are recorded and saved as soon as you create them, and this allows for the easy tracking of payments. One of the best features is that the invoices that you send can be "payment enabled" so that once received, the customer can click and pay immediately with any major credit card. This allows for quicker cash flow, fewer outstanding receivables, and instant reconciliation of customer payments in your Xero register.
Automated Daily Bank Feeds
A nice convenience in Xero is that you can link your bank account to the software. And this allows you to set up a bank feed which automatically updates and imports your bank statements to Xero. The daily bank feeds mean the immediate tracking of sales invoices (Unpaid/Paid) which matches payments against purchases, thus reducing the bookkeeping time and costs.
Free Product Updates
Another benefit of all cloud computing is that when product updates come out, they are pushed to all users immediately with no need to wait for a download to your desk top, install the new version, and then restart your computer. If you are like me, it never fails that the updates always happen when I have the most windows open and cant afford to shut down my system to install them! In the case of Xero, they release new product updates every few weeks and they are already installed the moment that you log in.
Interactive Credit Control
Last, but not the least, Xero makes it incredibly easy to manage outstanding sales invoices, as there are many diagrams and graphs options. In addition, Xero even allows you to share financial information with your professional advisors and colleagues and the best part is there are no limits on users. You can add as many users you need, without having to worry about paying extra.