Xero has over 16,000 certified advisors who can help you get up and running. It is quickly making a name for itself with over 1 million small business subscribers. Knowing about Xero Accounting Software is quite interesting and necessary. It’s just perfect for existing QuickBooks users that are thinking about making a change.
Xero includes automatic bank and credit card account feeds which are automatically imported, invoicing, accounts payable, expense claims, fixed asset depreciation, purchase orders, and standard business and management reporting. This site has prepared for your features, benefits, and demerits of Xero Accounting Software.
Features of Xero Accounting Software
- → The solution offers connections with more than 5,000 banks and other financial institutions across the world. This feature allows users to automatically import and categorize their latest PayPal, credit card, and banking transactions.
- → Another useful feature is Xero automatically reconciles all your bank transactions, which make it easy for you to manage and control your finances.
- → Other helpful features are real-time currency exchange updates, multiple currencies, multiple languages, and custom invoices.
The benefit of Using Xero Accounting Software
There are quite some interesting things you need to know about Xero;
- → Xero includes payroll processing for up to 5 employees in their product offerings (up to 10 in premium edition). The benefit, of course, is that when your business grows to where you need to hire employees, there is no need to upgrade or any additional costs to pay.
- → The software enables business owners and their advisors to access and manage real-time financial data anywhere, anytime, and on any device. It is designed for small business owners and helps them track and manage wages, revenues, receivables, payables, expenditures, and cash flow. You can also configure rules and customize them to fit your needs.
- → It equally allows an unlimited number of users to access the program at no additional charge. This is great if you have several people like your tax professional, CPA, and employees that need access to your data.
The downside of Xero Accounting Software
Despite having interesting features, there are few disadvantages you would like to consider;
- → One of the downsides of Xero is the constant delay of email support from their customers. For example; to seek for a call with someone in your email takes up to 3-4 hours to respond to your request.
- → Irrespective of drawing closer to matching QuickBooks, the number of experts and advisors are quite sure. Making use of Xero requires an active accountant.
Xero payroll service includes automatic payroll tax calculations (all you have to do is provide the number of hours to pay). It also comes with self-service access for your employees to submit timesheets and request time off. You can pay your employees with direct deposit or check, and you can electronically file payroll tax forms and taxes directly from Xero.
Xero Mobile app is free with a Xero subscription and available on all iOS and Android devices. You can run every aspect of your business right from your mobile device. This includes reviewing account balances, paying bills, and creating invoices.
Official website: www.xero.com
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