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The Benefits of Using Xero Accounting and 5 How-To Tips

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Small business accounting was once time-consuming and complicated, especially if you were a DIY kind of person. The latest accounting software like Xero Accounting makes those difficulties a thing of the past. It allows you to do all of your financials in the cloud for an affordable price.

Benefits of Using Xero

  • It’s in the cloud so you can do your accounting from anywhere and on any device. No more being tied to an office or your laptop. It can even be used on an Apple watch.
  • Unlike the other most common accounting program, Xero allows for an unlimited number of users no matter what subscription plan you have.
  • Has a better, more intuitive design for easy and efficient use than the other leading program.
  • Connects directly to your bank so you save time on data entry.
  • Xero has a number of app add-ons to help you run your business.
  • You can add up to two accountants that you can communicate with via the program.

Once you’ve decided to sign up for Xero, you can visit Xero TV to learn everything you need to know about your new accounting program and how to use it.

5 How-to Tips to get You Started

  • To sign up for your account, visit their website. You can do this for free.
  • Add your business by clicking on “Add an Organization.”
  • When you’re ready you can choose a subscription level.
  • To convert your data, you can either ask your accountant for help or Xero will convert it for you.
  • Add your bank account to make reconciling nearly automatic. To do this, simply click on “Add Bank Account” and type in the name of your bank. It should show up on their list. Choose it and then you can add your account number.

According to Xero CEO and founder Rod Drury, they will be implementing machine learning and artificial intelligence over the next year.

This means the program will automatically allocate bills to the proper account. No more wondering where it needs to go and no more mistakes. The program will lead you, making your job easier.

If you have any questions about accounting software or accounting in general, please contact us, we're here to serve you.

News source: https://www.bit.com.au/news/how-xero-aims-to-make-accounting-software-smarter-473307

 

Topics: Accounting Accounting procedures