Do you monitor the performance of your business with manual spreadsheets? Do you wish your customers would pay you on time? Do you struggle to answer questions from your accountants because they are asking you about something that happened ages ago?
If your answer to any of these questions is yes, then another answer could be Xero.
Xero is a cloud based accounting system created to give small and medium-sized businesses access to real-time financial information. This means you can log in from anywhere, at any time, on your laptop, tablet or smartphone. You can almost instantly know how your business is doing financially – leaving you to concentrate on running your business.
Xero will speak directly to your bank account using a direct bank feed, which means you no longer need to reconcile your cash account or insert transactions into a spreadsheet manually. Better yet, Xero “learns” transactions and patterns within your spending and can automatically allocate transactions to the correct accounting ledger. So you can spend even less time getting data into the correct format. Who wants to re-key data when there is a system that will automatically do this for you?
When customers are late paying you, you could run out of the cash you need to pay your staff and suppliers. Xero can help you to get cash from your customers more quickly. You can send branded invoices and link up with online payment providers so that invoices can paid through a link on an email. You can also send out automated statements and reminders of outstanding debts at the click of a button. Having a robust system in place will maximise the likelihood of being paid on time.
You can give your accountant access to your Xero account. Meaning we can log in and double check you are doing everything right. We can look at how your business is doing on a periodic basis and ask questions in real-time and instead of many months after the event when you deliver all your books and records to us.
Xero is fast, simple and efficient. Which is why we are recommending it to all of our clients. Cleland has recently achieved Xero silver partner status, meaning we have access to special discounts and products.
Please get in touch – we would love to give you a demo and discuss how this exciting system could work for your business.