Payroll is a high priority process within any business and should be carried out accurately. It can become a complex process, as there are multiple tasks involved. A cloud based accounting software helps to simplify this process. The demand for cloud based payroll, within businesses, has significantly increased within the last year, as it has a clear ability to improve the payroll system.
As far as payroll solutions are concerned Xero has the potential to improve business processes dramatically. Xero has automated the process, making it much more efficient for incredibly busy business owners. The whole payroll process takes less than a minute for a payroll that doesn’t change month to month, which saves time long term. A few clicks of a mouse is all it takes to complete, with larger volumes just as efficient.
The Shift To Xero Payroll
Business owners have a tendency to be put off by the shift to Xero payroll ultimately assuming it will be time consuming. This is definitely not the case, as each employee takes around five minutes once you know what you’re doing.
Whether you choose to transition manually or in a spreadsheet format, either way doesn’t take long at all. It is important to consider whether you complete the changeover to cloud accounting software as soon as possible or wait until the end of financial year.
The Online Shift
With the events of last year even the stragglers saw benefits of online accounting software. It allowed individuals to work from home, manage their business accounts and run their payroll efficiently.
The Xero accounting system saw no disruption for clients and could even be conducted from mobile devices, in real time as long as there was an internet connection. The Xero platform remained very much effective and efficient with constant improvements made to the accounting solution.
Everything In One Place
Xero allows businesses to access all of their financial data in the one place, vastly improving payroll practices. With the ability to link credit cards, bank accounts and bank transactions, it helps businesses manage their cash flow effectively. These are just some of the further advantages of utilising Xero as cloud based accounting software for your business.
Looking To The Future
The upcoming tax time is the perfect opportunity to transition your business over to Xero payroll. Payroll can be a significant cost for a business, as it requires accuracy and punctuality. Xero simplifies this task and collates all of your business’ financial data and accounting data in one place.
If you have been weighing up a transition to cloud based bookkeeping software, we encourage you to contact Liz at Keeping Numbers. Liz is an industry expert, highly experienced in bookkeeping and can assist your business with Xero cloud based software. Liz runs Xero training courses so that you can self sufficiently run and improve the payroll practices within your business.