Why Xero is perfect for your small business

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Date: 26 April 2022

A woman updates her business accounts using online accounting software

One of the factors that can improve your small business' chance of success is proper financial management and planning. Small companies do not have the same resources as bigger businesses. They have to manage, plan, and allocate resources efficiently. Owners need to know where to direct their limited funds, whether it is to product development or marketing. They must also be flexible in their approach when redirecting finances to improve operations.

As a small business owner, you need to consider various tools that can simplify work. One tool you can consider is Xero. This accounting software provides several benefits that simplify bookkeeping and financial management.

Here are some of the advantages of using Xero for your small business.

User-friendly interface

Xero is easy to use thanks to its user-friendly interface. It's easy to find your financial data, organise the data any way you want to, access it whenever you need to, and create reports when you need to analyse your data or make financial projections. Users can make forecasts and plan for various scenarios that allow you to achieve your objectives.

Easy access to financial data

Xero provides users with maximum flexibility when it comes to access. This cloud-based accounting software makes it easy for you to access financial information whenever you need it. You can review your finances wherever you are. You can use your smartphone, tablet, PC or Mac. The software can act as a financial hub for your growing company. The software also allows you to give access to specific employees or outsourced service providers with a 2-step factor authentication, for data security and protection.

Anytime, anywhere accessibility

If you need to be in another country or time zone, you can still access your financial data with Xero. The system stores all the data you upload online. You can give an unlimited number of people access to your accounts. This allows you to work with your in-house and/or outsourced team whenever all parties need to review financial data. For example, before making a business decision. You don't even need to be at your desk. Xero provides a mobile app so you can browse your financial data on your phone.

Less effort more work done

Xero simplifies tasks. The software reduces the time it takes to upload and store financial data online. Xero also reduces the time you consume reconciling bank accounts and reviewing all of your small business' transactions. You can link the software to your business' accounts, allowing it to import daily transactions. You can set bank rules for recurring bank transactions. This reduces the need for tedious manual data entries. The automatic bank feed enables you to access updated financial data on a daily basis.

Faster payment

One of the most tedious tasks small businesses experience is asking for payment. A delay in sending an invoice also leads to delay in payment and cash flowing into your operations. Xero makes it easy for your customers to pay online. If there are recurring customers, you can set up an automatic payment feature. Xero also allows you to send automatic payment reminders.

Update in real-time

Xero updates in real-time so that you don't have worry about downloading updated, newer versions. You can also add new features whenever you want and whenever your business needs to take on more transactions.

First-rate security

You do not have to worry about data theft when you use Xero. The system provides several layers of security and encryption. It also has security features that provide you with options about who can access the data.

Conclusion

Robookkeeper can assist you to set up Xero for your accounting and bookkeeping needs. Concentrate your efforts and resources on growing your company and let Robookkeeper update your accounts. Their experienced team of freelance bookkeepers can update your books regularly without errors. Make precise financial decisions about the direction of your small business with updated financial statements.

Sponsored post. Copyright 2022. Article made possible by Robookkeeper. Their very affordable bookkeeping service caters to the needs of small business owners. 

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