4 Powerful benefits of using Xero

Benefits of using Xero | Man smiling at laptop

Have you ever wondered what the benefits of using Xero are? If your answer to this is yes, get ready to be satisfied! Well, as satisfied as one can be by learning about the benefits of using Xero (and if you love exceptional accounting software as much as us then we promise you will be more than satisfied!)

Our love for Xero

We have always been proud to deliver the best bookkeeping Essex can offer, so when we discovered the cloud accounting software phenomenon that is Xero, we were blown away by its possibilities. Launched way back in 2006, Xero allows businesses to have complete visibility of their financial position at their fingertips, at any time and in any place. In fact, we love Xero so much that we always advise our clients to invest in it for their businesses. Aside from showing a business’s financial health instantly, it also allows companies to accept online payments, pay their invoices and bills and even submit VAT returns online.

We don’t just advise our clients to implement Xero into their business, we also provide full training on Xero, so our clients can make use of all of the many features and integrations that make Xero the highest-rated cloud-based accounting software on the UK market (as well as the US, Australia and New Zealand, where it originated). We have provided links at the bottom of this blog to our Xero training groups, should you wish to become as Xero savvy as the clients we have trained.

So now that we have firmly established that we are very much in the Xero fan club, let us tell you why. There are so many benefits of using Xero, but in this blog we will focus on the top 4, powerful benefits of using Xero and integrating it into your business.

The top 4 benefits of using Xero

Saves you time (and therefore money!)

As a company that offers quality accounting and bookkeeping services, we understand that anything that saves you time will save you money. And who doesn’t want to save money where they can? As Xero is 100% cloud based it will save you all of that time spent searching for paper documents, all of your documents will now be online. This includes any bills, invoices, bank statements and receipts, which you will now be able to find in seconds, as opposed to losing endless hours searching through those dusty boxes in the store room for that invoice from 2 years ago. Xero will also save you countless hours as you can connect it to your bank account and import business transactions every day, avoiding having to enter transactions manually into old software.

Securely accessible from anywhere, at any time

As Xero is a cloud-based accounting software this makes it accessible at any time and in any place from a computer, or from a mobile phone using their free mobile app. Anyone with permitted access can view the business’s current financial affairs and documents, which are stored securely online. Like other cloud-based software, such as Office 365, Xero allows multiple users to collaborate on projects at the same time, no matter where they are. Xero adheres to the very strictest cloud security standards and vigorously protects the data of its clients through multiple layers of security. In fact, all data is held in a secure data centre that is always monitored.

Benefits of using Xero | Working remotely

Helps invoices get paid on time

One of the main benefits of using Xero is the fact that this software will help you get paid faster…Cha-ching! Did you know that 30% of business invoices are estimated to be paid beyond the agreed date? Or that 20% of insolvencies are due to late payments? Getting paid late can be a real problem, especially if you are relying on those payments to pay yourself or your staff. Xero could help to get those invoices paid a lot quicker by connecting you to online payment platforms like GoCardless or Stripe. It has been proven that customers are more likely to pay their bills on time if the bill-paying process is easy and just a click of a button online. Xero add-ons like Chaser can even automate the chasing of invoices, saving you time and getting you paid quicker.

Improves your overall business efficiency

The last on our list of the important benefits of using Xero is how, when used to its potential, it could massively improve a business’s efficiency. There are over 700 third-party integrations that Xero can connect to, which can allow for the automation of so many areas of the business. These include employee management, reporting, financial monitoring, expense management, and so much more. You can schedule payments to suppliers, bill projects as they move along and even record employees’ mileage. In fact, probably the most powerful of the benefits of using Xero is that it basically acts as the financial hub for the entire company, which can even create budgets based on your financial status and plan favourable business scenarios for the future.

Get Xero trained with 123 Easy Books

So now you know why as the providers of the best bookkeeping Essex can offer, we here at 123 Easy Books absolutely love Xero (almost as much as we love completing your CIS returns online, or providing our accounting and bookkeeping services to the businesses of Essex!) As mentioned earlier, we even offer training on Xero so businesses can benefit from all of its many features. Check out our Facebook page which is dedicated to Xero training and will give you valuable insights into how Xero can improve your business. We hope that this blog on the benefits of using Xero has been helpful. If you have any questions about Xero or any of our other expert accounting and bookkeeping services, please get in touch with our friendly team.

And remember, 123 Easy Books offers the best bookkeeping Essex can boast. We are big enough to specialise, but small enough to personalise!

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