When you are starting a business, inevitably you will need to choose an accounting system to record your transactions, including all of your income and expenses.
Identifying a system that suits your needs can be a tricky task, especially if you have little to no experience of accounting systems. The key is to find a system that will tick the boxes for the way you work, as well as tick key technological boxes.
When advising our clients on this very question, our recommendation is invariably that Xero online accounting is the way to go.
The reasons for this are extensive, but Xero fulfils criteria in key areas such as:
- Task automation
- Access anywhere
- Comfortable use of the platform from any device
Reconciling your bank account while you lay in bed slowly waking up is now a reality for many business owners. The ability to check your cash flow position while waiting in line at the coffee shop is a reality. Xero has made this so and is continuing to innovate, leaving its competitors for dead.
The other major advantage of Xero is the “add on ecosystem” that is growing around the Xero platform. “Add-ons” is the term used for best of breed cloud based business apps that connect with and push data to Xero.
Some key cloud based Xero add-ons are:
- WorkflowMax – a job/project management tool that pushes invoices and purchase orders created through to Xero online accounting
- Vend– a Point of Sale (POS) system that pushes daily sales figures to Xero
- Unleashed – an Inventory Management system that pushes invoices, purchase orders, and stock movements through to Xero
Combining Xero with one or more of the 300+ add-on programs available provides a powerful solution to small businesses looking to improve their business decision making by having access to real-time data. These add-ons in combination with Xero provide that real time data in the form of dashboards visible to business owners without the need to look at and/or run reports.
To provide your business with a feature-rich, cost-effective, streamlined and easy to use accounting system, look no further than Xero. We can also assist you with getting your business set up on Xero, or converting across from another accounting system.
Please contact Altitude Advisory for more information.