The goal of every small business is not only to survive but to grow bigger. However, you cannot make game-changing business decisions without a clear picture of your financials. Also, a lot of time, and effort goes into tracking payments and generating accurate financial information, resources that are better spent growing the business. This is where Xero accounting comes in.

No More Manual Data Entry   

In the old days, accountants and bookkeepers spend long hours manually inputting day-to-day transaction data, usually in Excel spreadsheets. For small businesses, this process could eat up a significant portion of their resources.

Grow Your Business With Cloud-Based Bookkeeping

A cloud bookkeeping solution brings with it a high level of automation. The software learns tedious manual tasks and does them for you, eliminating much of the grunt work. In the case of Xero, manual data entry is one of the first things to go. Using Xero’s OCR feature, relevant data from financial documents can be extracted and recorded automatically.

Real-Time Financial Information

  • With Xero, customers can pay from any device as the invoice is automatically generated and saved.
  • If necessary, the software can also send invoice reminders, allowing quicker payments. It also allows these payments to be reconciled instantly.
  • It automatically imports your credit card and bank transactions every day then instantly matches them against your invoices, bills, and purchases using a custom rule.
  • Xero accounting allows business owners to see the ebbs and flows of their money in real-time, anytime.
  • With this bird’s eye view of your financial situation, it is easier to manage cash flow efficiently.
  • It also allows you to make timely decisions and implement important business strategies when needed.

Free and Easy Software Updates 

Regular updates are important for any cloud-based solution to remain relevant in terms of functionality and security, and Xero is no different. The good news is that these product updates are pushed to the users immediately without the need to download the new version, install it, then restart the computer. This feature is important to businesses, especially during peak seasons where any downtime translates to a loss of profit.

Grow Your Business With Cloud-Based Bookkeeping

Aside from happening on the fly, these updates come at no extra cost. No need to worry about sticking to an outdated version unless you shell out more money as all software improvements are included in the package you paid for.

What is more, cloud software companies like Xero are constantly asking for user feedback in charting their product roadmap. This means that updates reflect the changes that are most useful to the clients and give the best results.

Access Your Finances Anytime and From Anywhere

Since Xero accounting is cloud-based, you can access it from anywhere, as long as you have a device that has internet connectivity. It is not limited to a single computer or device at the office and does not require tedious software installation or IT maintenance.

Easier Backup Process

Manual backup of data is time-consuming and sometimes neglected in favour of more important work. With Xero, backing up data can be done automatically as part of the workflow or using add-ons.

Make the Switch

Dealing with your finances manually takes much time and effort, important resources that are better spent on more value-adding business activities. Cloud-based bookkeeping provides an excellent and cost-efficient solution that can help your small business take the next big step.

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