If you’re a bookkeeper, you would understand the growing significance of switching to modern technologies & tools to further simplify bookkeeping and produce accurate & timely books. Among all the software, the most widely known is Xero. It’s one of the best cloud-based bookkeeping and accounting software that’s based on SaaS.
Why switching to cloud-based bookkeeping is highly recommended in today’s vulnerable time is due to its major advantages. The important one being the automation of the time-consuming manual tasks, thus leaving more time to spend on what matters.
This article lists out the top six benefits of Xero bookkeeping and why outsourcing is your best resort.
Top 6 Advantages Of Xero Bookkeeping In 2021
Xero bookkeeping helps you with the following.
- User friendly
The reason why still many bookkeepers refrain from using savvy bookkeeping software and other tools is their poor user-friendliness. However, this isn’t the case with Xero. The Xero bookkeeping software is so user-friendly that anyone with basic bookkeeping knowledge can use it with ease. Everything is just a click away to access.
- Currency conversion
If a business deals with foreign clients, currency conversion is crucial for them. Unlike the earlier method for the same, Xero provides built-in automatic conversion for worldwide currencies which makes a lot of accounting processes easier for the business entity.
- Interactive credits controls
For the healthy financial condition of any business, its cash flow must be free from any sort of outstanding bills. Even if there are any, managing them is made a lot easier with Xero by keeping the proper details of every purchase and sale which are done on credit.
- Efficient payroll processing
Payroll processing is what every business finds difficult dealing with. It’s a complicated process that involves checking its employee’s timesheets, reimbursements & payroll, and keeping accurate employee records, including their account details.
Hence, having a platform like Xero take this burden off your plate besides ensuring high accuracy throughout the process is worth appreciating.
- Better financial decisions
When the business is on top of its finances, it helps its owner in a multitude of ways. One of them is the ease in making progressive financial decisions. When there is all sorts of information available regarding profit & loss, balance sheets, budgets, and cash flow, it becomes easy to make informed financial decisions. This is where Xero bookkeeping plays an important role.
Besides, you’ll get to know what areas need improvement(s) and which areas are performing well and could be taken to the next level for the betterment of your client’s business.
- Automated daily bank feeds
Do you know that Xero allows seamless linking of bank accounts with the software? By doing so, it gets easy to record the transaction and generate monthly bank statements to tally the balance sheets.
So, these are the top six benefits of Xero bookkeeping and the values it adds to the business operations.
Have You Made Your Mind About Xero Bookkeeping?
If yes, you’re at the right place. We, at Outbooks, don’t just picture bookkeeping as mere data entry practice. It’s not something anyone can appoint a junior person from staff with no information on what to do.
We take immense pride in introducing you to our certified bookkeepers who carry an abundance of experience on their shoulders and are the support pillars of infinite firms they have worked relentlessly for.
Not to forget that we are certified by XERO. We’re proficient in multiple accounting & bookkeeping software, and that’s our identity.
Contact us today to book your free trial, and you focus on the work that matters to you, and we’ll take care of the rest!
Let’s connect on +44 (0) 330 057 8597