Why You Should Make the Switch to Xero Now

Business Advice

Why You Should Make the Switch to Xero Now

Running the accounts for your business shouldn’t be a tedious process. The more time you spend on your accounts, the less time you are able to spend on other tasks and this could impact your overall revenue. This is why you should consider making the switch to Xero if you haven’t already.

What is Xero?

Xero is one of the leading cloud accounting and bookkeeping software solutions for small and medium businesses. Launched in New Zealand in 2006, the company changed the game for business owners. With cloud accounting, you can store your data on a server instead of your computer so you can securely access it on any device, anywhere in the world. We like to think of it as online accounting.

Reasons to move to Xero:

  • Run your business from anywhere – Online accounting allows you to access everything in the one place.
  • See your cash position in real-time – Get daily updates via your Xero dashboard, as well as custom reports.
  • Collaborate with advisors as well as bookkeepers – You can authorise access to anyone you need to, improving overall communication and workflow.
  • Integrate payroll and automatic super payments – Create and send invoices, as well as automating the process via reminders.
  • Automatic bank feeds – You can import transactions from a bank/financial institution, including Direct, PayPal or Yodlee bank feeds.
  • Automatic back-ups – Xero uses multiple layers of security to encrypt your data, and you can even set up two-step authentication to add an extra layer of protection.

Reasons to move now: 

  • Moving by the end of a financial year allows for a firm start date and ensures more streamlined reporting for the upcoming financial year.
  • Allows for bank feeds and trial file to be established and tested before getting used in the new financial year.
  • Allows time for training to occur before the ‘go live’ date.

It will take time to get used to a new platform, but it will pay off and allow for a more efficient way of doing things, saving you time and money.