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One of the most significant benefits of Xero is the availability of real-time information. If you’ve struggled to determine if your numbers… Нужно продолжение текста
One of the most significant benefits of Xero is the availability of real-time information. If you’ve struggled to determine if your numbers are up to date, you’ll know why this is important.
Xero considers all the latest transactions and inputs, so any numbers you check are up to date. There’s a straightforward, easy-to-use dashboard where you can view the latest figures.
So, when you’re making important decisions or checking if you need to chase payments or get more funding on board, you can be confident that your calculations are accurate.
Your time is valuable, and you probably wear many other hats apart from your financial responsibilities. With Xero, you can reduce your time spent on accounting and concentrate on other essential aspects of growing and running your business.
Bank feeds are automated daily, making bank reconciliations quick and easy. How about uploading receipts, invoices, and expenses straight into the system? You can do this with your smartphone and an add-on known as Receipt Bank.
Xero generates reports automatically, and of course, they include all the latest figures. When you create an invoice and email it from the system, Xero files the information automatically into your accounts. And, when payment is due, the system can use an add-on like Debtor Daddy to issue follow-up notifications. Repeat invoices can be generated automatically too.
Xero can automate payments to suppliers. This process can waste precious time for business owners; paying bills typically means entering the bill into your accounting software, opening your business banking portal, typing the same information, and authorising it with a battery-powered security token.
However, through its Transferwise system, Xero can combine these two steps by originating the bank payment directly from Xero as the bill is entered into the system. You can find out more about that here.
As a business owner, the real value you need from your accounting system is not just up-to-date numbers but in-depth insight into the financial health of your business.
It’s essential to get a clear view of cash flow, for example, or the number of customers who are paying late. You want to see how your sales forecasts relate to historical sales or identify the key customers essential to your business’s growth.
If you’re unfamiliar with accounting programs, getting that information from your systems can be challenging, but Xero makes it more accessible. The developers have designed the software specifically for small businesses.
You can customise reports, for example, to reflect how you run your business and give other members of the management team information in the form that suits them best.
When you need specific information, either a summary or a detailed drill-down, Xero can provide either view. And, once you’re familiar with the system, you’ll have a much greater understanding of many critical financial aspects of your business.
The information in your accounting program isn’t just for your finance team; it’s essential to share it easily with other managers and stakeholders outside your business – banks, investors, suppliers and business partners, and your bookkeeper or accountancy company.
With traditional systems, you probably had to rely on emails or memory sticks to share data — inherently insecure methods.
Because Xero is cloud-based, you can share information via the Internet by giving authorised users secure access. That makes it easier to discuss performance with your management team, keep stakeholders up to date with your latest financial position, and hold reviews or discussions with your accountants when you need advice.
All Rights Reserved. © 2025
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