We hear a lot about the ‘cloud’ and have begun to frequently refer to our workplace data and storage as ‘the cloud.’ The term has become our metaphor for the Internet, and it is a blend of where we house our work and the processes of our work from software, to drives, to project management solutions. Xero, a New Zealand based accounting software, is one such solution to cloud-based software designed specifically for small businesses and accounting. The company has revolutionized project management, payroll, expense reports, inventory tracking, purchasing and much more.
Cloud Based Software for Small Business Accounting
With its start in 2006, Xero has worked to establish relationships through online connections with small business clients. Xero now supports over 1.8 million subscribers and continues to transform the way businesses are conducting their accounting processes. Xero software offers features and tools that can support record keeping, track daily inflow and outflow of profit and loss, as well as automation of tasks such as invoicing and payments to customers. Xero has created ease for small business owners through automation of tasks, thus, freeing up time for businesses to continually provide goods and services for the benefit of clients.
Updates to Xero Software Making Each Day Seamless
In 2014, and again in 2015, Forbes identified Xero as the World’s Most Innovative Growth Company, securing a stronghold in cloud-based software and confirming what Xero clients already knew. Clients using Xero have had continued success with the seamless way that Xero integrates daily work, as well as peace-of-mind because of the layers of security provided. As a software company, Xero has not settled with simply offering point-of-sale solutions and accounting management, but instead continually provides almost weekly updates to maintain the excellent levels of encryption and features for small businesses. The updates are tracked on a feature timeline which provides highlights of the most notable updates. The company also issues press releases when improvements are made and more information on significant updates to Xero business apps can be found here.
Knowing that your accounting software continually seeks improvements and is one of the most innovative creations on the planet is reassuring. Let’s look at some of the most recent updates to the software:
- In May, Xero updated to a new invoicing process which included an in-line calculator. This update now auto-saves work on an invoice, suggests account codes based upon previous transactions, customizes invoice entry screens, and can search for and select currencies (included in premium pricing). Watch out invoicing, automation is starting to update your process!
- One of the features of Xero is that it provides assistance with expense reports. Xero does this by reducing tedious data entry, ease of visibility within the actual expense reporting process, and providing real-time data to monitor expense patterns. In April, the company updated Xero Projects to enable consumers to assign multiple expense items to a project simultaneously.
- In January, Xero added the option for the management of bills from anywhere. This was updated to the iOS and Android apps, enabling clients to add and edit bills wherever and whenever business is conducted. Partnered with accounts payable features, admin tasks can be reduced, and overviews can be created to track where the business is spending money.
Innovative and Prevalent Software for Accounting Software
Xero streamlines daily processes for small business and creates the opportunity for companies to spend time doing what they love for their valued customers. The utilization of this software keeps you up-to-date with all accounts, assists with collaboration in daily real-time modes, and gives staff members the opportunity to efficiently access all they need to do their job. This cloud-based software backs up information protecting it with various levels of security including industry-standard data encryption backed by secure data centers. Two-step authentication serves as an additional safety measure for your accounting.
Small business is the heart of what we do in our world. That’s why Xero is the perfect partner for Lawhorn CPA. Like us, Xero works closely with clients, associates, and friends to push innovation forward. This enables the work of small businesses in the area, and abroad, to do what they do best – provide products and services to the global economy. Small businesses regionally and worldwide can benefit from the ease of the ever-progressive innovations of Xero.
Certified Public Accountants Trained and Ready with Cloud Based Services
At Lawhorn CPA, we know Xero. Xero is used daily to streamline our daily work, as well as make life easier for our clients. We know Xero so well and are proud to be Certified Xero Advisors. It is no surprise that when business owners hire professional CPAs or accountants early, money and time are saved. Furthermore, hiring an accounting firm helps LLCs and corporations with navigation of more complex processes of business management. Contact Lawhorn CPA Group today to get answers about cloud-based accounting software, personal accounting, or get professional assistance with small business account management.