Like all industry leading software providers, Xero and Quickbooks are competing for your business. Even Sage have thrown their digital hat into the ring to try and keep their historic market share.
We work with Xero because, tried and tested, we truly believe it to be the best software for combatting the struggles we see time and time again from business owners, no matter their size or industry. Those are:
- The feeling of having no time
- The need to know how the business is really performing
- A plan for unpredictable cash flow
I thought Xero was a small business software only?
Xero sells itself as a small business software, and we often get asked whether it’s the recommended tool for businesses with ambitions to grow.
We work with many clients we call ‘Empire Builders’ who want to develop and grow and need an accountant to help them get there. When we take on these kinds of clients, we recommend a switch to Xero, as we always believe in providing the best tools for the job.
All businesses can use automation to do the taxing work
On the features side, Xero’s slick processes are enough of a sell. You’re able to run your business on the go with fast digital invoicing, expense tracking and bank reconciliation. You’re able to keep on top of your cashflow in real time, see your inventory as it ebbs and flows, and create purchase orders on the move. Bigger teams can also take advantage of Xero Payroll, making setting up and paying staff easy.
There may be parts of your business you don’t want to automate. The personal touch can be important in the sales process, for example. Maybe you like having a real human answer the phone instead of using emails and apps. We get that. If you have the capacity to keep these tasks the way they’ve always been, you’re not losing anything.
When it comes to the finances, you have a lot more to lose if you’re relying on a slow outdated process. To be able to scale up and be a financially healthy (if not thriving) business, you need the combination of speed, efficiency and good advice on your side. Automating your processes with Xero means you can take yourself out of the tasks you really don’t like, and still know that the money is rolling in and the financial system is ticking over nicely.
Does that mean you don’t need an accountant?
It sounds like we’re shooting ourselves in the foot, doesn’t it?
By recommending Xero, we’re not saying that everything is in your hands now. It means your accountant can do the compliance stuff faster too! We’re not replacing the need for accounting advice with a piece of software. In fact, Xero improves the kind of advice we can give you, and the relationship we have with you.
In Xero we can both access your financial information in real time, and be up to date with transactions as they happen. When we see live activity it makes it more efficient for us to do all of the accounting work that keeps HMRC off your back, and gets your employees paid. That means we can spend more time on the stuff that is going to be of the most value to you as the business owner.
We’ll be able to provide you with the kind of financial reporting and analysis that will help you understand where your business is at, how each part of it is performing and how you can progress to the next level.
We’ve tried many accounting software options and financial reporting is one of the fundamental reasons we recommend Xero. The reporting features are so powerful. As your advisor, we’re able to customise reports so that you get the information you need to be up to speed fast.
All business owners can be better connected
Not only does Xero mean you’re better connected with your accountant, it also means you’re better connected with a tonne of other apps designed to transform the way you work. Just take one look at the Xero marketplace to get a feel for how many apps Xero partners with.
There are apps to help you solve business challenges, improve productivity, build better teams and run a more efficient operation. Specific industries have their own apps, and Xero are constantly adding to the list.
If you’re a retail business, you could be using IZettle to take digital payments in store, using Deputy to manage employee rotas and calculate overtime, and using Shopify to get those online purchases. All of these can be synced with Xero, feeding information straight back to your accounting software instantaneously – right where you need it!
An unparalleled all-rounder
We’re not here to simply sell you the most talked about software. We honestly recommend Xero because it works best for businesses of all sizes. Xero isn’t the cheapest option, but it is priced well for what it offers, and it’s an open software that is constantly making game changing improvements.
Ready to evolve into a truly modern, forward focused business?