Accounting can be tedious!
When you are starting a new business, or running a busy business… do you really need more of your time spent on doing things that don’t produce an income?
Well, I have come across a brilliant and flexible answer for you.
Xero- Beautiful accounting software.
It’s not just for Ecommerce (every business runs better).
What is Xero?
Xero, is a cloud accounting platform. The software is specifically targeted at small businesses; freelancers; contractors and their advisors.
You can see your business financial information in real-time… there is an app for your smartphone of course.
You can link the accounting software to over 500 different apps … ( so you can use the functionality of most of your current app based systems).
So, your online store, your Point of Sale system, and much, much more- can link directly into your accounting software.
This makes things SIMPLE and EASY and much much quicker… it is even available on the Apple Watch!
- You can reconcile with your bank accounts, at the push of a button.
- You can send invoices- which customers can pay immediately– Online.
- You can add your staff to the payroll function… and so much more.
What else can you do with Xero?
Another really nice feature is being able to see standardised reports for your business– again, just with the push of a button.
So, you can make QUICK, informed decisions (you can always see your cash flow).
In my mind, the biggest benefit is that the technology creates more TIME for you to do other things in your day.
Everything is backed up automatically and the information is all stored in the cloud with the highest levels of security. You can even save your documents to the cloud- so you can get rid of your clutter and your excel spreadsheets!
Just look how liberating this is– short video.
So, what does all this cost?
Remember- there is nothing to download onto your pc; your updates are run in the cloud (so again, you don’t have to do this) and you can grant unlimited users access to your accounting software (with different levels of access available- so no one sees what they shouldn’t).
There is currently a special for South Africa. Save 50% on Xero online accounting software for your small business in South Africa
Quotes from everyday business owners:
I’d rather face root canal surgery with no anaesthetic than do bank reconciliations.
But with Xero, there’s a game-like quality that actually makes it fun.
And I’m disappointed when it’s done!”
– Devan Sabaratnam
3 in 4 SMEs still storing files in showboxes! buff.ly/1TiBNJQ Jump on the #xero Cloud
bandwagon and make your life much easier!”
– Cindy Milde
“Just reconciled 5,416 transactions in under an hour! Thanks @xero #cashcoding.”
– Brett Kellenberger
Oh, and Yes … there are a lot of accounting and bookkeeping firms that are Xero certified in South Africa– so you can get all the help you need.
In a Nutshell, here are the features available through using Xero.
Main dashboard – The Xero dashboard is where business owners can get a complete picture of their key accounts, income and expense reports, upcoming bills and pending invoices. This provides a valuable overview that gives users a clear understand of all their company’s financial activities in a glance. Moreover, certain accounts can be watch-listed and monitored in greater detail by enabling notifications.
Business performance dashboard – Get the information you need, now. Charts and graphs track business performance across a wide range of standard business metrics such as gross profit, net profit on net sales, and debt to equity. Add metrics to your main dashboard so your favorite measures are right in front of you.
Invoicing – Our invoicing system forms an important part of the accounting suite letting you generate and customize professionally branded invoices. The customization options include the addition of your company’s logo, foreign currency conversion, and the ability to save different templates to be used for separate clients. Create invoices quickly, add easy payment options including Stripe and PayPal, customize your own designs, or add your logo to the professional invoice templates in Xero. Automate invoice payment reminders and get paid on time with personalised emails to customers.
Receive payments – Get paid sooner with online payments. Accept debit and credit card payments on every invoice to speed up payment time. Xero is integrated with leading payment services including Square, Stripe and PayPal.
Multi-currency – Get paid in over 160 different currencies. All foreign currency transactions are converted into your local currency in real-time. With foreign exchange rates updated hourly, you instantly know exactly how gains and losses are affecting your cash flow.
Sales tax – Let Xero + Avalara handle your sales tax and make tax compliance less taxing. Avalara works seamlessly behind the scenes to take care of your sales tax calculations. Avalara can also file your sales tax returns in less than 5 minutes (yes, less than 5 minutes).
Bank reconciliation – Connect your bank account to receive automatic daily updates and reconcile large numbers of transactions quickly with bulk cash coding.
Inventory – Track inventory, control stock and report on the performance of your products and services, and use the information to make the right decisions on ordering and pricing.
Expenses – Record expenses, capture receipts and approve expense claims – or mark an expense as billable to a customer.
Bill payments – Schedule payments, batch pay suppliers and manage cash flow with visual graphs that show what bills are due for payment.
Purchase orders – Create and email purchase orders, convert purchase orders to bills or invoices, and stay on top of supplier costs.
- Quotes – Send beautiful, professional quotes quickly, get instant acceptance of quotes online and easily turn quotes into invoices.
Reporting – View and share over 40 interactive reports and budgets in real-time. Use custom columns, formulas, text blocks and drag-and-drop accounts to easily edit and customize your reports, compare against any metric and track performance.
Contacts – View your customer’s transaction history including invoices and bills, most-purchased products or services, and drive sales based on purchase history.
Smart lists – Segment your contacts based on their buying behavior, invoice amounts, and even location, to create targeted marketing campaigns.
Gmail and Microsoft Office 365 integration – See a complete history of your Gmail or Microsoft Office 365 email conversations and attachments against each contact in Xero.
Payroll – Process tax calculations automatically and easily pay employees with direct deposits or printed check. Manage leave and view pay history from anywhere on mobile with Xero Me. Available in Australia, New Zealand, the United Kingdom and 25 US states.
Fixed asset management – Track and manage fixed assets, depreciation and disposal of business assets.
Files – Keep all your documents and transactions in one place and conveniently attach files and documents to transactions in Xero.
Search – Search and find what you need from wherever you are. Add a new contact, invoice, bill, quote or purchase order directly from Xero search to save time navigating between tasks.
Mobile – Take Xero with you. Xero’s mobile app makes it easy for businesses to raise invoices, capture expenses and manage contacts on the go. Daily bank feeds mean you can also reconcile your bank transactions to your sales and purchase activity on mobile in seconds.
Data security – Rest easy, knowing that Xero data is encrypted, has multiple firewalls in place and can be further protected with two-step authentication. All access to our data centers and servers is controlled and monitored 24/7 in line with industry best practice.
Support – Enjoy help when you need it. Unlimited email based support, requested phone call-backs, video tutorials, online help centre, certified Xero advisors and an online community of engaged users are all free and readily available.
So, what are you waiting for?