Look to the clouds

If you are a small business owner that hasn’t heard about Xero, then reading this article might be the best 5 minutes of your day.
 Xero is a cloud based bookkeeping system,which operates from direct feeds of bank statements that are set up at commencement, enabling real time reconciliation of bank transactions into the accounting ledgers. It claims to be the World’s simplest accounting system.
It also has some significant additional features beyond the pure bookkeeping. Invoicing and real time reporting being examples.

With Xero:

  • There is the ability to give your accountant instant access to the files to work on them with you to support your bookkeeping and troubleshoot as and when required in real time.
  • You can set up bank feeds directly into your accounting system from online banking for bank accounts, credit cards and PayPal, so there is no need to go through a conversion and import process. You just match money paid and money received to invoices you have created in Xero.
  • The reporting functionality for BAS and year end accounts is very good and part of the system.
  • Invoicing out of Xero is simple, fast and easily customisable.
  • Xero enables real time collaboration with your accountant on business and accounting matters.
  • There is a business dashboard on the landing page which is customisable and amongst other benefits, can assist in focusing your attention on collecting money owed to you and improving cashflow.

 Xero is gaining market share rapidly in the small business community, for the reasons outlined on the ‘Compare Xero’ page of the Xero website:http://www.xero.com/accounting-software/compare/

To find out more, view a 2 minute  Xero introduction video  click here>>

There are many other videos available  at www.xero.com – click the link on the right hand side ‘Events and Webinars.

Pricing packages are competitive with no start up investment and can be found here,

You can even run your Xero books in parallel with your existing system until you are confident to move over completely!  Give me a call at Munro to discuss how we go about setting you up – it’s pretty quick and easy!

Please call Peter Morgan at Munro Accountants on 07 5539 9777 or email peterm@munro.com.au.

© Peter Morgan 2012

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