Is Xero Worth It for a Small Bookkeeping Business?

Are you stuck with managing your small business’s payroll, bookkeeping, invoicing, inventory, receipts, expenses, and finances without any free time? Then, a small business accounting cloud-based software is the best one-stop solution for all your accounting needs.

And out of the many flooded in the market, the Xero bookkeeping software has been a trusted partner among many users. This is specially designed user-friendly software with various features that cater specifically to providing solutions for bookkeepers and small businesses. Want to know how? Then scroll down!

Everything About Xero and its key Features

Xero is an online bookkeeping software that provides all kinds of accounting solutions by automating tasks such as invoicing, payroll, bookkeeping, and much more. This saves time and money while filing your taxes toward the end of the year and helps you better understand your business’s finances. Some features that make Xero online accounting different are:

• Easy access anywhere, anytime, with uninterrupted Wi-Fi.
• A dynamic accounting system that offers user visibility to view the cash flow, transactions, and account details.
• Online bill payment to keep you on top of all your bookkeeping tasks and payment processes.
• SmartAlters feature that notifies specific transactions or actions automatically if they require attention.

Why Xero Bookkeeping Software a Best Choice for Your Small Business

The following are some convincing reasons why Xero is the best bookkeeping software for small businesses:

1. Accessible and Easy to Use

You don’t need a seminar, training, or even consultants to keep the Xero interface running because of its intuitive design, which makes it easily accessible to anyone. Just log in to benign using the software.

You can also navigate easily, starting from the simple navigation pane located on the left side of the screen, to access your financial data 24/7 without prior accounting knowledge. This feasibility allows you, as an owner, to stay on top of your accounting tasks and share them with your bookkeepers.

2. Enhanced Security

Alongside providing you with facilities to access your finances easily, Xero bookkeeping offers top-notch security to ensure your data is completely protected using Amazon Web Services (AWS) servers, a renowned cloud infrastructure worldwide.

It also includes Fraud Protection to protect you from fraudulent transactions, identity thefts, and phishing scams. For extra protection, a dedicated security team at Xero regularly scrutinizes event logs, security systems, and alerts across systems to handle and identify risks.

3. Excellent Integration Compatability

Strong integration is one of the striking benefits of using Xero. You can seamlessly integrate other software types you use for your business with Xero to allow file sharing to multiple people and automate tasks like data entry, thereby easily managing your business info.

So, whether you have project management tools, customer relationship management software (CRM), point-of-sale systems, inventory management, or e-commerce, you can connect it with Xero for a smooth data flow across business functions.

4. Automated Sales Tax and Returns Calculations

Calculating taxes is one of the unavoidable strenuous areas of running a business. You need to put a lot into sales tax compliance, such as exemptions, rates, rules, and regulations, which sometimes can be burdening to track manually.

Fortunately, with the Xero accounting system, you can generate automatic returns and sales tax calculations. Just input the tax rates for every item in the system to give you accurate sales tax calculations automatically.

Also, you can obtain data optimization by specifically inputting tax rates for products, contacts, or accounts and generating the sales tax report, which can be utilized to get tax returns.

5. Focussed Inventory

As a small business owner, you must be proficient in inventory management. However, if the inventory quantity is extremely high, you might find it burdensome to keep track of your stocks at times.

Xero can overcome this burden by allowing you to import and update CSV files directly from marketplaces, including eBay or Amazon, to meticulously track your inventory. Also, this software lets you view the cash flow earned through returns or sales on these platforms and notify you of every new purchase.

6. Affordable Tool

With so much assistance offered by Xero, you can assure yourself that you are paying the right amount worth its services. The software offers different plans depending upon your business ranging from twenty-five dollars per month to enjoy the top features. Unlimited access is also available starting from fifty-four dollars. Before paying, be sure to check which plan suits your business needs.

Final Verdict

Yes! Xero is the perfect partner to manage all your financial services. But choosing it depends on your needs and requirements. So, check out the free trial to ensure whether it’s a perfect match for your business goals, and then invest to enjoy exemplary features to keep you focussed on your business growth!