Since we figured out that cloud accounting is the future of accounting solutions, we thought we’d take a look at our favourite online software – Xero.
Xero is an award winning product, making online accounting real-time, user-friendly and extremely efficient. Not only is the software easy to collaborate on and allows for many beneficial add-ons – paperless accounting has never looked this good!
Besides being, in our opinion, the best online accounting software in the world, there are so many groovy reasons to use Xero for your business.
- Everything about Xero is easy. The software is extremely user-friendly, making accounting simple for anyone in the business to do.
- Anytime, anywhere access. All you need is an internet connection.
- Powerful real-time reporting. Compare, share and pull reports at any time by the simple click of a button. Customise your reports to suit your business needs and set up a reporting schedule in a few easy steps.
- The software has an awesome open ecosystem and can sync with hundreds of third party apps. This makes integrating into your current business workflow super effortless. Check out one of our favourite add-ons later on in the post.
- It’s really affordable software. Voted the 4th most affordable accounting software by Capterra.com, Xero is worth way more than what you pay for it. This is not only feature wise, but also because the time saved working in it far exceeds the licence saving over inferior competitors. Need we say more?
- Visually inspiring and beautiful software. Xero has put a lot of effort into making accounting fun, simple and stimulating, taking the chore out of bookkeeping.
One of the coolest and most exciting third party apps that can plug in to the Xero software is Receipt Bank. Designed specifically for small and medium sized businesses, they completely take the manual process out of collecting and adding up all of your receipts and invoices.
Simply snap a photo of your receipt or invoice using their smartphone application or email through an invoice from your scanner or supplier. Receipt Bank uses advanced optical character recognition to process the document and, depending on your auto publish settings, can post it straight into your Xero software without any further human intervention. The software then captures the expense to the correct expense account, correct VAT capturing AND it sends a copy of the invoice into Xero attaching it to the transaction so when the auditors come in, they can see the source document without paging through supplier files. Saving you time, money, resources and improving accuracy.
These are just a few reasons we choose to use Xero as our accounting solution, but don’t just take our word for it.
Check out some of the reviews and ratings that Xero received on Capterra. You won’t be disappointed!