Advantages of Online Bookkeeping with Xero Accounting Software

Accounting programs have made a huge leap since the invention of the cloud, and now there is a lot more variety and options available. 

Xero is a cloud based accounting software that is packed full of useful and clever features that allow you to get your work done efficiently, no matter where you are. 

There are many benefits to using a cloud based software like Xero, for both business owners and bookkeepers alike, here are just a few of them. 

Constant improvements, no extra cost

When you use an online accounting software the development team will often continue to make improvements on their product. 

Xero is often adding new features and updates, meaning unlike many other systems that will inevitably become outdated, Xero remains relevant and at the cutting edge of bookkeeping software. 

These software updates are done at no extra cost to the user, you simply download the new update and benefit from all of the continual development they do. 

Many other companies will charge you for a new product when they make improvements, but Xero gives you these updates at no extra cost. 

Real-time reports 

Gone are the days of painstakingly compiling all your data into a report, now Xero can do it all for you faster and with even better presentation. 

These reports are completely customisable, and you can add all of your own finishing touches and flair if you want. Or you can leave them nice and simple with the provided templates, it’s really up to you. 

These real-time reports help you quickly analyse any financial data, and give you valuable insights that you can trust. 

They’re also really simple and easy to use, as long as you’ve set your account up correctly and put all the right data in, then it’s happy days for you! 

Secure your data with ease

Automatic back ups mean you can feel at ease that your data is going to be safe and secure. 

Of course, it never hurts to be too cautious and have multiple ways of backing up and keeping track of your data, but with cloud accounting software like Xero it’s much easier than more traditional methods. 

Xero safely and securely stores your data on servers that are constantly monitored and protected. 

Work together no matter where you are

One of Xero’s main features is that it allows you to do your work from anywhere, at any time as long as you have a device and an internet connection. 

This opens up a whole new world of possibilities for small business owners, and allows multiple people to collaborate on the same account with ease. 

You don’t have to wait around to get the information you need from certain people because it’s all readily available in Xero.

Xero also allows you to restrict who can see certain things, so if you only want someone to work on a certain task, you can safely let them access the relevant financial information. 

Automate Your Workflows 

Xero makes life easier by automating so many small menial tasks that would otherwise take up a huge chunk of your time when doing your books. 

You can easily automate online invoices, so you can get paid faster. 

It also lets you easily integrate useful information such as bank statements and bank feeds, as well as your income and expenses. 

While you still need to spend time ensuring your data entry is accurate and thorough, the user-friendly interface makes it much easier to complete your job. 

There are many benefits to using Xero, and its cloud features make it one of the most popular bookkeeping solutions for businesses and accountants in Australia, New Zealand, and all around the globe. 

If you want to learn more about Xero, you can browse our Essentials course here!

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