If you’re looking for the best accounting software for small business, Xero can be the most reasonable answer. Xero is a professional online accounting software especially suitable for small businesses, it gives you a financial management system, helps you manage cash flow and income expenditure, thus easily make decisions accurate business decision.
Xero Reviews
Xero is a cloud-based software so you do not need to install, can be accessed online on any device, and you can assign privileges to other members and managing individual accession. With that, collaboration becomes easier. Furthermore, data on Xero accounting software can updates in real-time by multi-integration apps.
Xero has all the necessary accounting features for all types of small businesses, including freelancers, consultants, online merchants, store and restaurant owners, and service providers. Whether you’re just starting out or looking to expand, Xero can provide you with only the basic features, or the software can be scaled and customized with advanced capabilities to fit your growing business’s needs.
You can use Xero to see Real-time cash flow. True sync to bank accounts. No more long reconciliations!! With 500 more Apps connection on Xero Apps Market, they can integrate smoothly with everything.
For non-finance people, it’s quite easy to understand and to use but still robust enough to keep our Accountant happy. Reporting is generally good but not the best for reporting on sales commissions. Definitely, a recommend for small businesses who need to work fast and efficiently.
A look at some outstanding features of Xero Accounting Software:
Bank Reconciliation
Bank feeds are automatically imported and update in real time. Financial transactions are automatically imported into Xero and linked to the corresponding accounting transactions. Users who need to import feeds from more bank accounts, credit cards, and PayPal accounts, will be happy to know that Xero can do this in a few minutes. You can create custom rules to match bank transactions automatically to invoices, bills and purchases recorded in Xero – which makes reconciliation seamless.
Online Quotes
You can send quotes and convert into invoices easily, the available data are stored and can import quickly so you do not have to manipulate a lot. It helps you streamline your sales process with professional online quotes. Prepare and send quotes in minutes using the contact, inventory and pricing information you’ve set up in Xero. Send professional-looking quotes using templates by simply adding your logo – or using your own design.
Online Invoicing and Payments
Xero Invoicing feature helps you get paid sooner by accepting payments from online payment services. Also, save time with more ways to get paid by accept debit and credit card payments directly from every invoice to speed up the time it takes to get paid.
To manage credits and refunds, just create a credit note and apply it to another invoice or record a refund.
Multi-Currency Accounting
All foreign currency transactions are converted into the local currency in real-time. With foreign exchange rates updated hourly, you instantly know exactly how gains and losses are affecting your cash flow.
Paybill
Paybill feature help you spend less time on business admin by bundling multiple bills into one payment transaction. Just schedule payments and batch pay suppliers and you can pay the bills on time while keeping control of your cash flow.
Reporting
Xero has 40 interactive reports and budgets that can view in real time – no waiting for month end to see how your business is performing. You can easily edit and change your reports to how you want them to look by use custom columns, formulas, text blocks and drag-and-drop accounts. Also, it can help you quickly prepare a detailed budget or import an existing one, and compare performance against actual or selected periods. Compare Formulas let you calculate variances between any columns on your reports – whether actuals versus budget, or actuals versus other actuals.
Payroll
Xero Payroll feature has all you need to process smoothly paying. It let you quick pay runs and reports. Just enter pay run information and email or print payslips for your employees in a few clicks. Addition, you can set Automatic pay run journals that Pay run information automatically updates the general ledger with the creation of the payroll journal.
App Marketplace with 500+ integration Apps
With over 500 industry-specific apps, seamlessly integrated with Xero, you are bound to find one that suits your needs. The integration with Xero means no more double handling and more efficient processes resulting in a definite increase in productivity. The Xero App Marketplace features advanced solutions for payments CRM systems, time-tracking, inventory management, point-of-sale, e-commerce and more.