How Xero will change your life for the better

The difference Xero makes to the lives of business owners can’t be overstated. The digital accounting software has been created specifically for entrepreneurs, designed to free up your time and give you a treasure trove of actionable insights. We’ve already looked at how cloud accounting will help your business, but let’s get more specific: here’s why Xero is the very best digital accounting software for your business.

Xero automates time-consuming tasks.

First things first: Xero is highly intuitive. Its user-friendly interface makes it quick and easy to get to grips with, even if it’s your first time using digital accounting software.

It automates financial tasks like recording and invoicing, getting rid of extra chores on your plate as a business owner. Take a simple task like invoicing. You can do this on the go from your Xero app and it’s so quick and easy. Xero connects to your bank account, so transactions flow automatically into your accounting feed each day without the need for manual data entry. This is a game-changer. We get live bank feeds from AIB & BOI for our clients. PTSB doesn’t offer this. That saves everyone time. Imagine no more calling the bank looking for bank statements!

In short, Xero frees up hours each month that would otherwise be spent on burdensome financial tasks. Think of how much time you could dedicate to working on the business, instead of in it.

VAT returns are easier with Xero.

Xero makes it easy to stay on top of filing your VAT returns. When it comes to doing your VAT returns, there’s no need to rifle through documents and invoices. Everything you need has been fed into Xero clearly and consistently throughout the year. We use Dext to capture all your purchase invoices, review those, and transfer them into Xero. It’s as simple as taking a picture of your invoice and sending it to Dext.

All the data you need to complete your VAT return is already there, so it’s just a case of pulling in the numbers and reviewing them. Nice and simple in the right hands.

Xero gives you a full picture of your business.

Xero lets you view your financial standings at any point, updating in real-time as your transactions automatically feed in. You can easily match transactions with your accounts instead of having to spend time manually consolidating each one. This helps you keep track of money going out and coming in. You can have an overview of those who owe you money and for how long. Plus, you’ll know who you owe money to.

The ability to see an accurate overview of your finances is hugely powerful for growth. When it comes to forecasting cash flow and planning budgets, you can feel confident you’re using reliable numbers to inform your decisions. You’ll always be able to see exactly how much cash you have access to, so there’s no more basing decisions on outdated numbers. Confidence is key to business growth. Knowing your numbers are right gives you the confidence to invest for the future. You know you can afford a new staff member or a new machine to expand your business.

Collaboration is quicker and easier.

Whether you’re working with your accountant or your team, Xero lets you work from the same accounts at the same time, from anywhere. If you’re in Wexford but your accountants are in Waterford, you can both log into your Xero account from any device and see the same information simultaneously.

We’ve helped some of our clients with credit control. Knowing who owes you what and for how long gives you the focus to get that money in. Find out how solid bookkeeping led to a 50% reduction in Debtors for one of our clients, CLS.

You can customise Xero to work for your business.

With over 800 add-on apps, the possibilities for how Xero can help your business run more smoothly are almost limitless. Whether you want to automate payroll, maintain better control over expenses, or see per-project profitability breakdowns, Xero comes equipped with specific tools to suit your needs. However, the most important thing is to get the numbers right first. Solid numbers are the bedrock of your business. We call it getting the foundations right.

Make your life easier with Comerford Foley & Xero.

With a solution for just about everything, Xero gives you more time to focus on the important things. But a word of warning! Xero works best with a quality bookkeeper or accountant. The software is only as good as the information that goes into it and how it’s set up for you.

A great bookkeeping function is worth its weight in gold. It takes time and investment to get this right. Have a look to see How it works. We chose Xero as we believe this is the best software for our clients. Best of all, it’s incredibly simple to get set up on the software – and we’re here to help. Get started by filling in our quick form and we’ll be in touch.