This post was made possible by Xero. I started using Xero in early 2016 and have been recommending it ever since. I think it’s a great tool and personally recommend it.
Since becoming a Xero Certified Advisor, I have received many inquiries about Xero Accounting Software. As a Xero affiliate and advisor, I thought it would be useful to put together this review for my readers.
Xero is an easy-to-use, but powerful cloud-based accounting software designed for small & medium sized businesses. Xero was designed for the non-technical person and helps users derive useful information from their data. In 2006 the developers at Xero launched their service with three things in mind; up to date financial information for the user, Quality advice – Real time collaboration with one’s accountants or bookkeepers, and a single ledger that allows collaboration on the same set of financial records at the same time.
Is Xero Right for you?
Xero is a complete accounting software solution, comparable to Quickbooks Online. Xero has a full suite of features that make it a great choice for any business. Maybe the best part is they did away with the accounting jargon and use simple terms to help uncomplicated things for the user without a financial background.
5 key benefits of choosing Xero
Invoicing & Payments
Xero’s online invoicing and payments function make it possible for you to get paid sooner and spend less time chasing unpaid invoices. Xero allows you to shift from paper to online PDF invoices, offering more security and transparency. You simply email customers a link to a live invoice, which shows the most up-to-date details including payment status, history and a Pay Now button for taking online payments by credit or debit card – or PayPal. Xero lets you see when the invoice was received and opened, and sends automatic invoice payment reminders on outstanding invoices.
Xero is constantly innovating with more than 1,400 product updates in the last year. The constant innovation is what sets Xero apart, and is just part of their successful business model. In 2014 and 2015, Forbes named Xero the World’s Most Innovative Growth Company. And in 2016, the platform recorded more than $1 trillion across 450 million incoming and outgoing transactions.
Xero was built in the cloud, from the ground up, and has grown into a powerful and innovative accounting platform. This means your accounting ledger can be accessed from anywhere and anyone you choose can be invited to collaborate. Your information is secure with the highest security standards and updates are seamless and automatic. No more worrying if you have the latest software version, or if you have the most recent updated file, and no need for emailing files. With Xero, both client and accountant have the most accurate information.
Software that lacks support is eventually worthless. Xero understands this and offers unlimited email-based support from their experienced team, video tutorials, an online help center, phone call-backs upon request, certified Xero advisors, and a free online community of engaged users. If you have a question or need help, an answer can be found generally within minutes.
Xero disrupts the accountant-client relationship by presenting a live view of the business’ financial information, on one easy-to-use platform. By automating key business functions, extracting insights and displaying them on elegant dashboards a business can derive useful information and your advisor can deliver timely advice and services. Xero takes mundane tasks that require hours to complete – and turns them into a seamless experience that are completed for you in seconds.
Xero is a fully developed accounting software solution that would serve any business, large or small. Xero helps clients build a trusted relationship with their accountants or bookkeepers through online collaboration. Instead of waiting months for useful financial information, you can get it real-time and have a deeper understanding of how your financial transactions impact your bottom line. Our best advice is to try Xero for free with the 30-day trial offer and test out the program. Xero has much to offer someone wanting to launch a business idea or make managing one easier.
Noel B. Lorenzana is an Illinois Registered Certified Public Accountant with over 20 years of experience, dedicated to providing outstanding tax and accounting services to individuals and small businesses in the Chicagoland area. Contact me to find out how I can help you with using Xero Accounting Software for managing your business.
The information presented in the above article is general in nature, and not warranted or guaranteed. If you have questions on accounting software for managing your business, be sure to speak with a Certified Public Accountant or a trusted business advisor. You are welcome to contact me if you would like consultation to discuss your business questions.
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Disclaimer: Any accounting, business or tax advice contained in this article, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, I would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.