Tuesday, 19 May 2015

Xero Effortlessly Managing Finances

My husband is an Administrative Partner of a busy doctors surgery so he was only too keen to put the Xero small business accounting software through its paces, so over to him:   

"In today’s harsh business climate you often end up staying late at work filing the 100th invoice onto your account package, tediously taking the time to work through each never-ending bank statement ensuring every penny is reconciled! Over the many years I have used account packages each has its own quirks and niche function.

Xero accounting software lets you take back control of your business accounts; you have the freedom and ability to manage your account on the move, at home or even abroad.  Xero’s niche aspect is the software runs completely online through your browser and via a mobile app; you can easily and quickly update your cash flow, having Xero seamlessly feed your bank, credit card or paypal transactions into your accounts package.  This function takes the pain out of reconciliations allowing you more time to focus on your business, staff and customers.

The initial setup is quick and easy, it prompts you for all the important information such as invoice address, bank account details and nominal codes.  It also allows you to upload your business logo for your invoices (his business obviously needs to get a logo as he played about adding mine!) and allows you to invite your bookkeeper or account to access your accounts so its very user friendly.

Once you have completed the set up you are taken to a nifty dashboard which allows you a quick glance at bank account balances and cash flow forecast.  The great time saver is that you no longer need to input the paper bank statements before you preform the reconciliation Xero will attempt to match them to items you have already inputted into the system for example a cheque, if you haven’t entered any items, it’s very easy to add the item from the reconciliation screen, Xero learns from each item entered and reconciled and gives you a suggested prompt which is fully editable.

The reporting features are versatile and simple to navigate allowing you to run reports off at a moment’s notice. I would have liked to investigate the payroll function if it runs as good as the accounts package it could prove to be another time saver.

It is fairly obvious that any accounts package that removes the most laborious of tasks will lead to an improved work life balance, this package should allow you the flexibility and foresight to increase productivity, forecasting and improve your business model assisting you in your expansion plans!"

As you can see he really does think this app is brilliant and having seen him grumbling on of an evening looking through endless business bank statements I know he is genuinely impressed. He really wants to claw back some of his evening and having the right software is a big step in the right direction.  Finally we might get to spend more time together, amen to that! 

I am a member of the Mumsnet Bloggers Network Research Panel, a group of parent bloggers who have volunteered to review products, services, events and brands for Mumsnet. I have not paid for the product. I have editorial control and retain full editorial integrity.

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