Xero is online accounting and bookkeeping software that is hosted entirely “in the cloud”. The obvious benefit of being in the cloud is that you are able to access your Xero file wherever you have an internet connection and web browsers. In addition, your advisor or accountant can also access your file, in real time and use this technology to provide you with live assistance or real time planning. There is no longer the need to send data files back and forth!
Aside from being in the cloud, Xero has a host of other features. Whilst varied and wide, the common theme surrounding all Xero’s many features are that they are designed to make the process of bookkeeping automated, simpler and enjoyable for all users.
Xero has formed partnerships with all the major financial institutions, allowing automated daily bank feeds to be imported into a Xero file. The obvious advantage is that you can now skip over the bank statement entry and go straight into the allocation phase of the bookkeeping process. On that side, Xero has it covered too, with its intelligent allocation systems, including invoice matching and bank rules, attending to the daily or weekly bank reconciliation can now take seconds – literally.
A suite of other features, including multi user access, a neat and easy to understand interface and the relatively well priced subscription price for this product, has seen the numbers of Xero users grow exponentially over the past few years.
Many business are taking this opportunity to review their entire business processing and record keeping software and how these integrate between each other. With the substantial cost savings available through both reduced data storage and security requirements, as well as time savings available through reduced manual labour, it’s no wonder many business have already converted to Xero and have not looked back since.
Why not take a look, a free trial is available through Xero. Alternatively with the 542 partners having undertaken hundreds of Xero file set-ups and conversions why not contact us directly as we are only too happy to offer advice and assistance.
Want to know more about Xero?
Contact the team at 542 Partners for a free demonstration.