If you’re running a small business or a new start-up, then you’ll know full well how important good financial management is to the success of your firm. New and small businesses need to manage their money effectively to better prepare themselves to handle the ups and downs of business life – modern innovations like cloud accounting software can help to cut down on the time spent doing this.

One of the best online accounting software solutions on the market right now is Xero. Here, we’re going to take a look at the software, its benefits and why it may be the best accounting management solution for your business.

What is Xero cloud accounting software?

Xero is the perfect affordable solution for the small businesses. Offering an intuitive and easy-to-use interface, it gives you instant access to your company's financials so that everything can be managed in one place in real time. Keeping your finances in order and running a healthy business is easier with the right tools – with Xero, you can pay bills, submit tax returns online or even automate accounting.

Why use Xero?

Xero has been gaining momentum in recent years due to its simplicity and versatility. It's easy enough to use for anyone, even those who don't have much experience with IT or business management tools. The system offers a range of features so you can use it no matter what kind of business you own.

In fact, Xero's accounting software has been specifically designed to make life easier for small businesses and to help them grow. The online platform provides a complete business foundation by connecting companies with their bank accounts, payment services such as Stripe and with their accountant, as well over 700+ third-party apps.

Today, there are around 3 million people subscribed to Xero cloud accounting software – whether it’s small business owners, bookkeepers or accountants; all thanks to its powerful features.

The benefits of using Xero accounting software

Work wherever – and whenever – you want to

Xero is the perfect way to keep up with your business finances on any device. It has been designed so seamlessly that across all platforms: PC, Mac, laptops, tablets and smartphones.

Get paid faster

Instead of producing invoices on paper or PDF, Xero cloud accounting utilises online invoices. Online invoices have been a great time-saving option for many businesses, especially those that deal with large volume shipments and contracts. With an online invoice, Xero will automatically match the invoice with the customer payment so there's no need to wait around wondering whether or not the customer has paid up.

Save time on repetitive tasks

Xero is a great way to streamline your time and save it for more important tasks. It can take some of the tedious, repetitive work off your plate so that you don't have as much on hand when trying new things. As an example, Xero’s automated invoice reminders can chase up payments for you – instead of spending time finding out which of your clients aren’t up to date with their payments (and then contacting them), the software sends an e-mail to them if an invoice is (or is about to be) overdue. This is just one of the many great time-saving benefits Xero can provide.

Integrate with your other software

The ease-of-use Xero provides is perfectly exemplified by its ability to be used with more than 700+ third party Apps – creating a solution for your every need. Xero can be integrated with programs such as Microsoft Office 365, simPRO and even any specialised system requirements you may have; inventories, customer relationship managers or industry-specific solutions (Shopify, Vend, Harvest etc).

Interesting in learning more? Get in touch with our accounting experts today!

Here at Bettridge & Co, we provide bespoke cloud accounting solutions for a range of business types and sizes. We recognise that not all businesses will operate in the same way – so why should they use the same methods and software that would only work as a detriment for them? Xero, especially, provides a great way for any business to customise the management of their accounts – saving time, money and effort that would be better off spent elsewhere in the business.

Please feel free to browse our website to learn more about our work as online accountants – if you have any questions about Xero or anything else regarding accounting, we would be pleased to answer them.

Give us a call anytime on 0118 979 9744 or send an e-mail to info@bettridgeandco.com and we’ll get in touch as soon as possible.