Xero’s bookkeeping service isn’t the newest kid on the block, but it is still the best available on the market. As a small business accountant, Aston Black uses Xero to keep all its clients operating from the same page, because it has everything a growing company needs to stay organised. Being able to share and discuss finances easily with your accountant streamlines the whole bookkeeping process and ensures there are no needless oversights.
Nowadays, accountants work with freelancers just as much as any other type of small business venture. Remote workers like this are often on the go, taking their work with them to wherever they may be headed. Because of this, traditional bookkeeping methods are no longer viable — especially if instant financial attention is needed.
A bookkeeping service such as Xero enables nomadic small businesses to keep in touch with their finances, no matter where they are. Not only does this take a weight off the owner’s mind; it also helps their accountant keep tabs on all activity to and from their accounts. Being able to share data in this way means you and your accountant can work collaboratively from opposite ends of the country.
When you’re operating a new business, it’s helpful if you are paid promptly after each contract has been completed. While traditional invoicing takes time and manpower, Xero’s bookkeeping service allows small businesses to bill customers faster.
The online invoicing features not only streamline the process itself but allow you to see whether individual invoices have been accessed by the customer. This can be important when you are trying to keep capital flowing through your enterprise, as well as enabling your accountant to keep track of who has and who hasn’t paid their fare.
Not only does Xero help small businesses keep on top of their finances; it also ensures you’re not bogged down by simple, repetitive tasks. Instead, it frees up time for you to concentrate on the tasks that add real value to your business.
A bookkeeping service with the automated features of Xero makes recurrent invoicing and record-keeping a doddle. Invoice reminders can be set for clients who are renowned for making late payments so that they are notified of any upcoming or overdue bills. Xero’s automation also makes it easy for your small business accountant to sort and update hundreds of business records at once, leaving them free to invest more time in the growth of your money.
One of the biggest advantages to Xero’s cloud-based bookkeeping services is that your small business accountant can collaborate with you on all tasks. Being able to work from one focal point makes the sharing of data seamless, so there is no instance where your accountant is working from obsolete data.
By circumventing the need to import and export data, there is no chance of any information being lost in transit. This means that any problems in your finances can be spotted immediately and dealt with without any disruption to the running of your business.
Whatever stage you’re at in your business, Xero will grow with you. Even if you are already using multiple systems to keep your affairs in order, Xero will slot in alongside your existing solutions. The bookkeeping service is currently compatible with over 500 other services including Gmail, Microsoft Office and Shopify.
Xero’s add-on marketplace enables you to integrate specialised systems at any time, so you can continue to adapt and refine your business approach. Once you’ve discussed a new venture with your small business accountant, you can find the appropriate add-on and begin taking your company in a whole new direction.