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Why Should You Choose Xero Over Spreadsheet?
A lot of small business owners are content with the use of a spreadsheet to handle their bookkeeping tasks. Even though there is certainly nothing inappropriate with this, but we believe that Xero is a more rewarding alternative. Listed below are 8 logical reasons why:
Share data in real time: As you make use of Xero, it possible for your bookkeeper, administrative assistant, and bank manager or as a matter of fact anybody you prefer, to take a look at your bookkeeping to enable them to provide assistance in running your business.
Safe data: If in case you have at any time lost data by not saving a spreadsheet or maybe the data ended up being corrupt, you will understand the amount of a headache it is and a loss of valuable time too. Xero keeps your data well-protected, which means that there will be no more misplaced or corrupt data.
Gain access to data at anyplace: It’s challenging to take a spreadsheet along with you and work on. With Xero it’s accessible, if you continue to enjoy an uninterrupted internet connectivity. Save details of your customers and acknowledge them while on the go, generate an invoice whenever you complete a task as opposed to by the end of the day when you find yourself back in front of your PC.
Be aware of who to pay and who requires pursuing: It’s very complicated using a spreadsheet to check who you are obligated to pay money and who owes you money. With Xero, every piece of information will there be and obtainable at the click of a button.
Generating financial reports: Even though theoretically feasible, it’s complicated for a spreadsheet to build a profit and loss reports. With Xero, simply click ‘reports’ and there are several reports available for you to evaluate and get an overview about how your business is running. In case, you don’t wish to look at statistics or require some kind of guidance, then request your bookkeeper or accountant to log in and take an insight on your behalf.
VAT returns: Make the procedure of preparing and submitting your VAT return a lot less complicated and faster with Xero. Create a VAT return by simply clicking on a button and analyze the information. Xero can also file the return using the internet with HMRC. A spreadsheet can’t make it happen!
Bank transactions: Considered to be one of the primary advantages of Xero, is its capability to download your bank transactions directly into the program. It’s not necessary to type in the information into a spreadsheet and there’s no possibility of keying in the incorrect data and making a mistake.
Invoicing: Generate invoices via Xero as opposed to making use of something such as Word. Email them to customers from within Xero, generate billing statements and you can also include a hyperlink for customers to pay the money through PayPal.
The list could easily go on. If you wish to know more, then contact us, and we can talk about how Xero can assist your business and expedite your bookkeeping processes. Cogneesol offers expert bookkeeping outsourcing services that can help you save costs up to 40 to 50%, increase revenue and assist in faster closure of books.
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