Introduced in 2006, Xero launched a beautiful web based accounting solution by fully understanding local market requirements and what a cloud based system should offer.
Xero Accounting Software gained an extra ordinary popularity among the small-medium size businesses with over 860,000 subscribers, due to its strong focus towards continuous product development and providing value added features with a dedicated support team working 24/7 to assist customers.
Australians love using Xero because it is simple and easy to use, can integrate with more than 500 software’s and connects small businesses with their trusted advisors and provides business owners with real time financial position which can be accessed from anywhere anytime and on any device.
Xero Features and Comparison
We recommend small businesses using Xero due to its excellent features and simplicity. Some of the good features are listed below
Automated Bank Feeds
Bank Feeds is a system or an automated process by which your bank account is linked with the accounting software and the bank transactions are automatically transferred to your software daily.
Xero does bank feeds very well and can link any Australian bank account or multiple foreign currency accounts with the software and saves 100’s of hours of manual data entry from the bank statements. You can reconcile transactions from anywhere even from your bed with Xero mobile app.
One of the best features in bank feeds which I really like and is not available in other software’s is the option to put notes in the discus area. As being accountant, I can easily discuss a transaction with the business and request them to put notes aside.
With Xero, you can connect seamlessly with customers through online invoicing and receive updates when an invoice is opened. You can create professional recurring invoices and schedule bill payments.
These invoices can also be created on the go using your mobile app and you do not need to carry 2-3kgs of heavy laptops or worry about your invoicing once you return home after a long day work.
Xero also offers an option to customise the invoices where you can insert your business logos, put business details or simply upload your own template. The best part is that you do not need to be ERP Consultant or expert with programming to utilise this feature.
Xero Payroll fully complies with the Australian Taxation System and PAYG income tax rates are updated automatically.
The pay runs once setup correctly can only take few minutes to run and Xero does the automatic calculations behind the scenes keeping track of your business PAYG Witholding Tax, Superannuation and generation of payslips.
Xero is 100% Super Stream compliant and with a click of a button, you can disburse super payments to multiple super companies and Xero will take care of the rest.
Comparing other software’s, Xero has a feature of employee portal where staff can simply login to access their payslips, apply for annual or carers leave and know the balances.
This is one of the best features of Xero, which is its ability to generate simple financial and business reports which can be easily understood by anyone with little or no accounting background.
Xero reporting has enabled entrepreneurs to perform financial analysis at every level and make crucial business decisions for growth and development.
The beauty of Xero reporting is that within minutes you can complete your business activity statements, know your tax liabilities, aged receivables/payables and true financial position of your business.
Talk to Perth Mobile Tax Services Today
We are Perth’s Xero Bookkeeping Specialists. Call us today for a Xero bookkeeping advise, consultation and correct set up of your bookkeeping account.