We were one of the first accounting firms in Australia to use Xero (back in 2009), became Xero Certified in 2010 and have since then set up many clients on this online accounting package. As with all new ideas, there were a few teething problems. However over time the improvements have kept on coming. I must admit that, whilst we do use other software as well, Xero is my personal favourite to use. Clients who find it difficult to understand other programs like Quickbooks or MYOB, often find that they take to Xero easily. Some of my favourite Xero features are:
– Online. Can be accessed securely from any PC, Mac, Tablet, or Smartphone without any special software installation.
– Look and Feel. The software is really nice to use, looks great, and it’s easy to find your way around the menus.
– Bank Feeds. Bank transactions are automatically sent by the bank overnight and appear in xero ready to be allocated, saving a lot of data entry time
– Bank Rules. You can pre-program rules into Xero to allocate regular payments such as rent, telephone, leases.
– Recurring invoices. If you bill customers monthly regular amounts this can be automated. Xero then creates and emails the invoice out as scheduled.
– Payroll. The payroll works very well and prepares very professional looking pay-slips. Staff Annual Leave forms can be entered in ahead of time and Xero will remember them for the appropriate pay-run.
– Files. Xero has the ability to attach PDF documents into an electronic “filing cabinet” for reference; or they can be attached directly to a transaction.
– Apps. The Xero app has come a long way and I know this might sound very strange – but really, it’s designed to be FUN. Matching off your bank reconciliation looks like you are playing a game, and feels like it too. I often log in on my ipad or phone and match off bank reconciliation items if I have a few minutes to spare, for example when I am waiting at the dentist! I find I can get all my own accounting done in around 5 minutes per day. The app also lets you create and email invoices direct from your phone or tablet.
There is a lot more to write about Xero….but I will save some for a future Blog!