Xero proves its worth for company finances

Online accounting software package Xero just keeps getting better. With a service that is always evolving and developing, it is no wonder that so many businesses use Xero for their bookkeeping and accounting. And, at Timewise VA, we are big fans of the cloud-based system, using it for bookkeeping services with clients across a range of different business sectors.

As a bookkeeper, Timewise helps clients organise their expenses and incoming payments, providing a vital first step to logging company finances. The beauty of Xero is that it can be accessed at any time online, by clients. And many more accountants are also using Xero, when preparing statutory accounts. As a result, the bookkeeping and accounting functions can run seamlessly and much more efficiently.

As an example, Xero recently announced a new partnership with Deputy, a workforce management platform. The result is that, for companies who value the service, there is the option of linking payroll and employee management, under one umbrella service. By linking new staff information, and simplifying holiday requests, the combination means more valuable time saved for users.

Another integration features AuditFile, which is an add-on enabling firms to perform audit functions more efficiently, via Xero and the linkage with this service. The facility is of particular interest to companies that are above the audit threshold.

Within Xero itself, there were several new year updates in early 2017, including an invoice preview function that means invoices can be sent faster than before. Further updates are in progress, with Xero providing a three month forward view of upgrades. Often these improvements are only beneficial for a small number of Xero users, however in some instances these improvements can be a significant help.

With Xero, there is no complicated software programme to purchase or install, and users simply pay a monthly pricing plan, depending on their level of usage. That makes life easier when using a virtual assistant, as there is no need to co-ordinate IT or software, with users updating in real time via the cloud interface.

Xero works equally well on computer, tablet or smartphone. Modules cover a wide range of accounting functions, from bank reconciliation, payroll and inventory, easy invoicing and bill payment. And, to encourage new users to give the Xero package a try, there are easy paths to migrate information from existing accounting software packages such as Sage or Quickbooks.

If you are wondering about whether to take the plunge, and give Xero a try as your accounting package, call Timewise today. We would be happy to guide you through an introduction to a system that we believe is simply the best out there for company accounting today.

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