Accotax houses a young team of accountants who are tech-savvy and can help you understand your business all over again in a new light. Our Xero certified accountants will help you make the all-important switch to cloud-based accounting and in this article, the importance of switching early is crucial to the success of your business as the features of Xero gives you access to important insights about your business that you can use to grow and also identify areas where improvement is needed.
So, before jumping on to growth activities together and formulate and implement growth strategies, it is important to understand why Xero is important for your small business, and what accounting cloud-based software can do to help you run your business smoothly and efficiently.
Convenience of Xero
The most basic idea of transitioning to Xero is to get all your financial data stored online – which means that you will never stress over losing important financial data and even if you don’t find anything, you can have it retrieved from the cloud.
Xero online bookkeeping will help you never miss a transaction and whatever transaction made can be monitored by you at any given time from any device of your choice and that is easily available at the time. This also means that you do not need any specific software to access Xero; all you need is an internet connection.
You have to keep in mind that Xero was designed with small businesses in mind, so the accounting software is specifically designed for small businesses, small business owners, startups, entrepreneurs, startup founders, new business owners, people who have started their own business and are very hands-on and want everything under control, but don’t have the time to keep track of their financials, expenses, spends, transactions, sales, etc.
Always Up to Date
Xero is a cloud-based accounting system which means it is run in real-time, which also means that all your financial data is updated whenever you access it. You will see fresh data of your business that can help you see everything you need to understand where your business stands at that very moment.
There is also one version of the accounting software, and it can be accessed on the go on your Mac, PC, Android, IOS which gives you the freedom you need, and it will not tie you down to your desktop.
Get Everyone Together
You can easily provide access to your bookkeepers and accountants to easily collaborate online. Everyone will be on the same page regarding the financial status of your business, as Xero online bookkeeping allows all parties to view the same figures at the same time. This allows everyone to understand what needs improving and here the business has gained strength over a certain period of time.
If you are switching to a new accountant, you can provide them with a login and they are ready to commence work and start your annual tax return.