Xero Accounting Software
Xero accounting software is one of the best cloud accounting software companies that resided in New Zealand and offers simple accounting software to handle small and medium businesses.
Xero accounting software is mainly known for reform accounting software. This software developed to provide the best client experience, the solution is simple to use, giving tough accounting tasks like double bookkeeping simple even for new clients.
Xero was established in July 2006. Nowadays xero system is seen as the leading business accounting software provider. As per the 2018 report, around 50% of people increased the number of xero users. Therefore You can say the number of xero accountants increased twice.
Why should you use xero accounting software
Features of Xero cloud based accounting software
Advantages of Xero accounting software
Disadvantages of Xero accounting software
Steps to use Xero Accounting Software
Set up your bank needs:- You need to set up your bank account feeds. This includes credit card and paypal accounts.
Set up your chart of accounts:- When you wish to shift from another accounting software,then you need to import your chart of accounts into Xero. or you can modify the default chart of accounts. In order to make changes to your accounts follow two steps: Go to setting> chart of Accounts
Reconcile often: This cloud accounting software makes bank reconciliation much easier. Your transactions are always automatically pulled as xero is connecting to your bank weekly but not daily and can also ensure the accuracy of your accounts.
Set up your organization details: If you have limited company then make sure that you have registration number and registered office address. The registration number and address needs to be displayed on any invoices issued by you.
Set up your financial setting: Go to the setting> general setting>financial settings. This enables you to enter company details.
- Financial year end
- Vat details
Add users: Go to the settings>General settings>users to add users. This allows you to add your accountant, bookkeeping, bookkeeper, and other necessary stakeholders. You can find further information on users like:
- Add user’s details
- Send an invitation to user
- View your xero users
- Edit user
Add your company’s branding: Go to settings>General settings> invoice setting.
Add payment services: It becomes beneficial for customers to pay
Set up payment reminders
Try to set up payment reminders when it becomes your habit of reconciling receipts daily.
Learn basic reports: When you have input some data, just look at your balance sheet profit and loss ,aged receivables, aged payables, etc.
Set up payroll-: This function enables you to keep all the payroll costs at one place, no need to pull in information from a separate system.
It can serve as the best method to streamline repetitive processes and your time.
An entrepreneur needs tools that can go along with him anywhere and anytime to manage cloud accounts and business deals. The features of this software make your business data accessible at every moment.Xero software is the answer to all your financial needs.