Who would have thought you could be watching your kids play sports or enjoying a soy latte while keeping on top of your business’s finances? All from a phone in the palm of your hand? Or that you could be travelling – across town or across the world – and be able to login to your accounting software and issue an invoice on the go?
While Xerocon 2019 is underway, we thought we should reflect on how technology plays a pivotal role in small businesses and for businesses using Xero, how you can take advantage of its capabilities to achieve your business goals.
If you’re a small business owner, here are five reasons you should use Xero to help you run your business.
1. Work where, how and when you want to
Whether you want to use your smartphone or tablet, or your PC or Mac, Xero lets you keep on top of your business finances wherever you are. Xero also works hard to ensure you – and anyone else who needs to access your finances – are working off the same data, wherever you are, whenever you want.
2. Improve cash flow and get paid faster
Every business needs to get paid, and Xero equips small businesses with tools you can use to get paid faster.
Go beyond “traditional” printed invoices and start using online invoices. Rather than send your customers a PDF file – or, worse, a printed document – you can send them an online invoice. Not only is it faster, you can also see whether they’ve opened it, and they have the ability to pay you online through your invoice. The faster the process, the faster you get paid.
3. Let Xero do the work for you while you focus on other things
Xero software is easy to use and will also work behind the scenes to help you save time. Let Xero perform those tedious, repetitive tasks that take you away from doing the things that can add more value to your business.
With bank feeds and the ability to set coding rules, your bank reconciliation is now a breeze rather than something you dread each month. Receipts can be sent directly to Xero through the Xero app or through other software like ReceiptBank. These applications can read the document and code it for you – all you need to do is check and click.
If you use invoicing, then Xero’s automated Invoice Reminders can do the payment chasing for you. Xero will automatically send an email to your customers if an invoice is overdue (or about to become due).
4. Collaborate with your advisors
A single set of financial data that both you and your advisor can work from. This means you’re both seeing the same set of data at the same time. Real time, accurate data is invaluable.
What’s more, you’re free to invite your advisors into your file at no additional cost – we make it easier than ever to collaborate with those who matter.
5. Xero grows and grows and grows
Xero works with more than 500 products so you can craft a solution that meets your needs.
Whether it’s integrating with your email or you want to use specialized systems or applications, Xero’s add-on marketplace gives you the flexibility to create a mix that meets your business’s specific needs.
If you’ve yet to try Xero, you can sign up for a free 30 day trial. And if you’re a current Xero user, take some time to check that you are making the most of all the fantastic features and add-ons.
MBC are always willing and available to help you with your software. We will also be on hand at the Australian National Field Days if you have any questions, or want to book in your own personalised training session. Contact bookkeeping@mbco.com.au for more information.
