Future of Accounting: Benefits of working with a Xero Accountant9 Mar 2020
As technology continues to develop and progress, so does accounting. With disruptive technologies has come cloud accounting software like Xero, which not only automates and streamlines the accounting process, but in return provides data and insights that can add true value to a business’ operations.
As one of the few Platinum Xero Partners, the team at Accounts and Legal form the country’s leading Xero accountant. We are experts in implementing the software, from the early stages of training our clients to breaking down data and giving you advice that will help your business outperform its competitors.
See your numbers in real-time
Xero’s focus is on real-time information. It takes into account your most recent transactions and churns out an up-to-date set of your key figures.
Furthermore, Xero’s slick dashboard feature gives you a live view of your bank balance, Xero balance, cash in and out and all your outstanding bills and invoices as they stand in that very moment.
Whether you want to send an invoice, update your receipts and bills folder, or get a look at a current financial statement, Xero ticks all the boxes.
The need for paper invoices has disappeared with Xero’s introduction. Now you can process an invoice, email it straight to the customer and sit back and watch as the transaction is filed straight into your books.
Additionally, with Xero Add-Ons like Receipt Bank, you can cut down the huge amount of time once spent on data entry and instead scan your receipts with your smartphone or tablet. Receipt Bank automatically uploads your receipts, bills and expenses straight into your Xero data.
Arguably one of the most-vital features of the software is its access to real-time reporting. For example, when you need to pull out a cash flow statement, or a profit and loss report, the numbers Xero generates are an accurate reflection of your business’ financial position.
With the uncertainty surrounding data and breaches, one of Xero’s finest attributes is its safety as it holds all of your data securely in the cloud. This safety also augments your own access to the software, allowing you to use Xero through your desktop’s web browser or mobile app, so you can work whenever and wherever you want.
If you need those numbers fast, they’re always available.
With mobile access to your numbers, you’re no longer tied to the office. Log in and get an instant overview of the health of the business.
Having Xero with you at all times makes you more efficient. Send invoices, check your cash balance or chase up an outstanding payment.
Simplify the accounting process
Xero was designed from the bottom up to be used by small business owners. Its designed to be easy to use, so there’s none of the usual jargon and technical complexity that can be so bemusing.
Only see the numbers you need with Xero’s drilled-down details of your accounts. It may sound technical, but the default view you get is simple and straightforward and helps you to understand your basic numbers. With the right Xero training, you can very quickly comprehend your important business information.
Guaranteed compliance and up-to-date systems
With your data in the cloud, there’s no need to worry about corrupted drives or computers breaking down. Everything is automatically saved.
When you log into Xero online, you’re always using the latest version of the software. There’s no need for updates and no disruptive downtime, which means gives you a higher ceiling for potential productivity and output.
Better yet, because you’re always using the latest software, any changes to tax rates, or compliance legislation, are carried out automatically.
Ultimate benefit of working with a Xero accountant
Moving to Xero has the potential to revolutionise the efficiency of your company, while also acting as an incredible collaboration tool that helps you get more from your relationship with a Xero accountant.
We’ve seen the difference that having Xero as a financial platform can have. It’s not just cloud accounting software, it’s a whole new way for our team to work with you, guide you and give you the valuable advice you need to push your business forward.
Ready to integrate Xero into your business and watch your business improve? Get in touch with our team today and we will advice you on the next steps.