Having access to the internet is the only thing you need to use the Xero software along with a device such as; a mobile phone, laptop, computer or tablet device.
Xero is used by over 700,000 small businesses in Australia. These businesses who are using Xero come from a large variety of different industries such as; hospitality, tradespeople, retail, services and agriculture.
Xero will help you track various financial parts of your business such asl your invoicing, managing your taxes, bank reconciliations and will also help assist you with paying your employees.
Aside from the money side aspects of the business Xero’s app marketplace can also help with a range of other things such as; point of sale, CRM, inventory, point of sale and many others just to name a few.
Furthermore, the Xero software is able to be used by several different users at the same time regardless of the location of each person who is using the software. This feature allows staff who are working from different location won’t have to send documents back and forth each other.
The mobile apps for Xero work on Apple’s iOS and Google’s Android operating system thus making it extremely easy to access.
The Xero accounting software is able to connect to apps within its ecosystem it also can connect with external sources such as your bank account. By connecting it to your bank account this will make it possible for transactions to be finalised quickly without any need of manual data entry.
There are plenty of benefits associated with using Xero in regards to the ways in can assist your business. For example; Xero can help you figure out how you run your business. The app has over 800 apps which can help you pick the right ones to help you customise the software in ways that can help assist your business as best as it possibly can.
Xero will also help you save time by outsourcing repetitive tasks as it connects to your bank feeds and also reduces admin time and decreases the number of errors made via data entry.
If you have a mobile device, you can invoice your customer instantly at the end of a job. The quick invoicing aspect of Xero makes it highly valuable. This feature will improve your cash flow and also save you and your business time.
By having better money management and improved record keeping this means that your business is more likely to be approved when applying for bank loans if you decide to expand your business operations to other locations in the future. Your customers will also be thankfully for the fact that they are able to pay instantly.
Furthermore, your accountant or your bookkeeper is able to log onto Xero to evaluate the financial state of your business. This will allow your accountant or bookkeeper to give your support when you have any questions that need to be answered or help with any challenges you are experiencing.
Xero can enhance the record keeping aspect of your business as the software allows you to scan receipts, issue invoices and also drop and drag files. This makes it easier to organise and store business records and also makes it very easy for you to quickly retrieve them.
Xero also lets you have unlimited number of users so this means that you can scale up your business and add more people to your Xero account as your business continues to grow and take on more employees.
Being able to work on shared platform such as Xero means that everyone will access the exact same information and this will improve the decision-making process for your business.
Because Xero’s apps are connected it is unnecessary for you to enter the same data in multiple places. If you fix a problem in one place than the problem is fixed everywhere. This consequently will greatly reduce the possibility of human error from occurring.
The Vault team are running education sessions throughout 2023 about Xero and how you can use it in your business. Visit here to see when the next session is on.
The Team at Vault is here to help, offering a full range of financial products to assist you with your financial objectives. Contact the Team at (07) 3012 6724, email us at email@example.com or use the chatbot below to schedule a meeting.