Dream & Do

Xero are our business finance heroes - here’s why

Dream & DoComment
  Drowning in numbers? Never fear, we've written a blog post on Xero to help out the non-accountants (like us!)

Drowning in numbers? Never fear, we've written a blog post on Xero to help out the non-accountants (like us!)

Xero is a New Zealand-based software company that develops cloud-based accounting software for small and medium-sized businesses. Last time we checked, most of the small business and online business world use this. It’s basically accounting software for non-accountants.

Basically, you can manage everything to do with money using Xero. See bank balance, invoices, bills, expenses, inventory, reports, payments and reconciliations. You can also schedule reminders to pay invoices, actually pay the invoices, create and manage quotes, you name it.

The average Joe can use it, but so can your bookkeeper or accountant.

Manage the payroll. Do it all on your phone. Do everything about $$$.

Accountant Daniel Chiha from Kelly Partners, says “Take advantage of the huge leaps in Cloud accounting of late. Personally, I prefer Xero as my go-to tool, because it provides an easy-to-use, effective tool for keeping on top of your accounts and giving you the timely information you need to make decisions in your business. The major functionality includes:

a.      Bank Feeds – Your bank transactions will automatically feed into Xero removing the need for double entry

b.      Invoicing is simple and fast. Once you are setup you can prepare a customer invoice in seconds and send it straight from the system to them for payment. It also tracks if they have received and viewed it.

c.       Payroll is a two-click process. No more spending half a day running the weekly pay run!

d.      Advisor access – give your accountants/advisor live access to the account. No more passing around backups of files and hoping everyone is looking at the same numbers.”