In our list of favorite accounting tools for your small business, we introduced you to Xero, a no-nonsense online alternative to Quickbooks. As a cloud-based accounting tool, Xero really simplifies bookkeeping for tech companies, and we think our small business friends at technology startups will find it especially awesome. Why? Beyond being a succinctly designed platform (and beautiful, too), Xero’s cloud-based services make it perfect for tech-minded companies, and it even offers an iOS app to help you manage your accounting needs on the go. It really is one of the best cloud-based accounting services out there. But if we haven’t convinced you yet, here are 5 more reasons that Xero is our accounting hero for technology companies:
1. Seamless Integration:
Let’s face it: as a technology company, you move fast. Your brain is moving twenty different directions, and you don’t have time to slow down. Xero makes cloud-based accounting quick and simple. If you’re already using another platform for your business accounting, converting to Xero is easy and best of all, fast. You can move your old Quickbook files directly into Xero in a short amount of time (Xero says it takes a little under three hours to complete the shift). Next, enter your banking information to connect Xero and get the latest updates on your accounts, Paypal, and credit card transactions. Xero also allows you to design your own templates or upload your logo to existing ones. With Xero, your accounting software becomes a part of the quick-thinking, quick-moving team.
2. Complete Visibility:
Simply log-in to your dashboard and see real-time data about your business finances. On your Xero dashboard, you can see all of your transactions, invoices, and bills in one place with just a click. Members of your team can get instant access, too. Invite your accountant, bookkeeper, or other team member to view your accounts, and they’re in. You have control over who can see what, all while make sure everyone is on the same page.
3. Anytime, Anywhere Access:
Xero’s mobile apps help you manage business finances on the go, perfect for checking in on things in between Skype calls or other meetings. Send and receive invoices, approve employee leave, and view payment history all from your phone or tablet. No more waiting to get to a computer to get caught up on your business; truly work from anywhere, at anytime. And we know that our fellow techies are going to love this: Xero apps are available on the iPad, iPhone, and even the Apple Watch. Receive notifications for deposits or withdrawals and view balances and transactions all from your smart device.
4. Intuitive Accounting in the Cloud:
For tech companies, it’s all about staying on top of technology trends and keeping everything up to date. Because Xero operates in the cloud, no downloading is required. Not only does that clear-up valuable computer memory space, but it also means you receive automatic updates when new features are released. Xero does the thinking so you don’t have to, and you’re left with the latest versions working to your financial benefit, ultimately saving you time and energy.
5. Immediate and Responsive Updates:
We love that Xero automatically downloads your most recent transactions each morning. That means you can keep an eye on your earnings (and spending) with as little as a tap to open your app. Plus, smart reporting means valuable reports are available anytime you need them. Reconcile and send reports without waiting until the end of the month. Then, sit back and know that Xero is handling the rest by helping you stay up to date (to the minute!) with your accounting. Instantaneous updates? A tech lover’s dream.
Want to clear up even more time in your busy, on the go schedule? Reach-out and get a professional bookkeeper to help you manage your accounting. Talk to an expert now.
For more tools and tips to grow your startup into a tech empire please check out our free ebook to help you scale your business. Set yourself up for success today.