This month I am pleased to introduce our friends at CATS Accountants. They have some great reasons for why businesses should consider using XERO.
The current push to cloud-based software and technology by Xero, Quickbooks Online and MYOB Online is revolutionising the accounting industry. These advances have allowed you to start working closer and more efficient with your accountant than ever before, due to easy access, quick and easy support systems, seamless interface and endless amounts of add-on’s. Out of the 3 major players in accounting software at the moment Xero is out in front. Even as the younger players in the market, these are the 5 main things which keeps Xero head and shoulders above its competitors.
5 Reasons Xero is The Leading Edge in Accounting Software
One - No Updates, EVER!
Xero is a browser based software which means you access it like any other website. This allows Xero to improve and update their system in the background and the next time you log on the update is already done and you’ll have instant access to everything. This saves a lot of time and IT cost when compared to other software. Xero allows you to access it from any web browser such as, Google Chrome, Internet Explorer, Firefox, etc and any computer or tablet allowing you access to your information anywhere there is an internet connection. This is unlike MYOB Online where you have to log on through their portal which has to be installed onto your computer beforehand. So if your computer dies you won’t be able to just use any other device, you’ll have to get a computer and install the portal software onto that before beginning work again. However both have released an app for Android and IOS to allow you to do your bookkeeping and manage your business on the go.
Comparing Xero’s instant updates against desktop based software where you could log on find an update sitting there and have to wait possible hours depending on how your computer feels that day, it is no question why Xero is the leading software in accounting.
Two - Amazing Support and Free Education Tools
Xero has fantastic training tailored for your role in the business such as Small Business Owners, Bookkeepers, Accountants and even up to a virtual CFO. This comes in the form of small courses with a streamlined layout of videos and small tests to reinforce what you learn. At the end there is even a more formal test where you can become Xero Certified. But don’t be put off, all this is optional and just an additional tool that you can use.
If you would prefer to dive straight in and seek support as you go, Xero has its own help centre, where there is heaps of options like; frequently asked questions, explanations on “Using Xero day to day”, even when Xero was last updated, the new changes that were made and more! There is also a place to interact with the Xero Community and ask questions or make requests to the developers about what features you would like to see in the next updates.
All this help and support means you require less training from your Xero partner, saving you time and money! Also Xero is arguably just by itself so much easier to learn and use than other traditional accounting software because of its layout.
Three - It’s Beautiful and Logical
You would never have thought users of accounting software would say the words “I love doing my bookkeeping”. Sounds unbelievable, but it’s true. Xero is so aesthetically pleasing and logical in its layout and methods on how to do everything. There is often more than one way on how to do something meaning you are wasting less time figuring out the only path to what you are doing. There is even plenty of links on each page allowing you easy access to the next step of whatever you are looking for instead of having to go back to the dashboard all the time. Xero is easier to understand and therefore better for your business. For example blatantly displayed on the front page after logging in is how many invoices are outstanding and the total amount owed to you and also your bank feeds which display the balance of the bank accounts you choose.
Xero has recently added a search bar where you can search the whole system for contacts, transactions, invoices, everything! There is also an additional search bar on most pages where you can refine and look at more specific/relevant information to what you want. Xero also has a toolbar where you can navigate almost the whole system within two clicks. With six dropdown menus such as “Reports” where you can see how well different aspects of your business are going and “Accounts” for access to pages like Bank Accounts, Sales, Inventory, Etc.
Four - Constantly Ahead of the Curve
Arguably one of the things Xero does the best which keeps it the leading edge in accounting software is that it is constantly improving and finding new and better ways to do things. Such as online quoting and client acceptance systems to streamline this initial stage to get the sale done quicker and easier. You can also lodge TFN declarations straight from your Xero software which means no more lodging paper forms to the ATO by snail mail! The ability to add a section on your invoice to allow clients to pay electronically when they receive your invoice, making it more convenient than ever, and automatic invoice reminders assist with cash flow and debtor days. Xero are also constantly adding more banks to the bank feeds list allowing more people to have up to the second detail on how well their business is doing.
Xero has annual roadshows, which are a day event and they discuss what they have planned for the future similar to what Apple and Microsoft do to promote their future products. Xero also have regular webinars on new updates to help you understand what is new and also coming soon to Xero.
Five - The Expansive Add-on Marketplace
If Xero doesn’t have the exact solution your business needs, chances are there is another software available that links into Xero seamlessly. Xero has its own add-on marketplace that offers hundreds of applications to choose from with a large variety of categories and industries. Therefore you can have a world class bookkeeping software working in unison with your other important practice software – like stock management and ordering, tradesmen job tracking tools, timesheets and job management for service industry. Almost certainly if you need something more the Xero Add-on marketplace has a solution.
For example CIN7 takes care of your whole inventory and supply chain across all channels in one software.
Add-ons can not only improve the efficiency of your bookkeeping and accounting but also improve your business strategy. For instance Fathom, which is a reporting and financial analysis tool which helps you to assess business performance, monitor trends and identify improvement opportunities.
With more and more add-ons being made constantly there is no end to what you can do or monitor.
Contact CATS Accountants on 43535370
Located at 12 Pacific Hwy, Wyong NSW 2259