Many small business owners are happy using a spreadsheet to do their bookkeeping. While there is nothing wrong with this we think that Xero is a much better option. Below are 8 reasons why.
- Share information in real time. Let your bookkeeper, accountant, bank manager in fact anyone you want see your bookkeeping so they can help you run your business.
- Secure data. If you have ever lost data by not saving a spreadsheet or perhaps the data became corrupt you will know how much a pain it is and a loss of time. Xero stores data safe and secure so no more lost or corrupt data.
- Access data anywhere. It’s difficult to take a spreadsheet with you and work on, with Xero it’s available as long as you have an internet connection. Store customer details and recall them whilst on the move, create an invoice when you finish a job rather than at the end of the day when you are back in front of your computer.
- Know who to pay and who needs chasing. It’s very difficult with a spreadsheet to see who you owe money and who owes you money. With Xero all the information is there and available at the touch of a button.
- Financial reports. Whilst technically possible it’s very difficult for a spreadsheet to generate a profit and loss account. With Xero click on reports and there are various reports available for you to review and get a better indication on how your business is performing. If you don’t like looking at numbers or need some advice then ask your bookkeeper or accountant to log in and have a look for you.
- VAT returns. Make the process of filing your VAT return 10 times easier and quicker with Xero. Generate a VAT return with a click of a button and review the information, Xero can even file the return online with HMRC. A spreadsheet can’t do that!
- Bank feeds. One of the key benefits of Xero is it’s ability to download your bank transactions straight into the software. No need to key in the data into a spreadsheet and no chance of typing in the wrong information and making a mistake.
- Invoicing. Generate invoices through Xero rather than using something like Word. Email them to customers from within Xero, produce statements and you can even add a link for customers to pay via PayPal. They can be customised and look a lot more professional than a Word template.
We could go on. If you would like to hear more then get in touch and we can discuss how Xero can help your business and speed up your bookkeeping.