A business, in order to grow in minimal delay, needs to keep a close watch on its overall financial data.
It is the only way it can ensure that everything is running properly and no one is embezzling finances in the name of paying dues. Business owners need to have them updated, clear and precise financial data. MYOB software would allow them to better understand each and every operation running within their business.
Back in the day, compiling and editing financial data was carried out using offline accounting software. Using offline accounting software came with their fair share of flaws. One such flaw is the localization of critical financial data. Localization of business-critical financial data is a bad decision since the chances of the data getting corrupted, altered or getting lost were pretty high.
Cue in XERO! This revolutionary cloud-based accounting software can be mastered easily by anyone who took a XERO Perth training from a renowned training centre. There are several benefits of using XERO accounting software.
Some of them are as follows.
You can link your bank accounts with XERO
XERO allows a user to link his or her bank account(s) with the accounting software.
There is a huge benefit of having such a feature is cloud-based accounting software. The people behind XERO understood this. This particular feature does a lot of legwork for the user since it automatically imports and updates statements from the linked bank account(s) to XERO.
This allows the user to easily track both paid and unpaid invoices which further allows them to cross check purchases against payments. This significantly reduces the time taken to complete the overall bookkeeping process and the costs that come with it as well!
Accessing required information is easy
It is mentioned earlier in this post that XERO is cloud-based accounting software. This means that accessing the software and the necessary financial information is pretty easy as long as you have a computer and a stable internet connection. This means that you can provide your bookkeeper with the flexibility of working from his or her home at any time of the day.
It is mobile device friendly
XERO is also accessible via mobile devices such as a Smartphone or tablet.
This is yet another benefit since you would not need to pay for IT maintenance expenses
Why!?
Well, there is no need to install any software to the mobile device which will be used by your bookkeeper to access XERO when they are on a vacation but need to manage your books urgently. Hence no added expenses to manage their mobile devices!
Apart from offering the above-mentioned benefits, XERO also provides you with a clear financial overview about yourself or about your business. It comes with a dashboard display, with quick links, that allows a user to keep an eye on the overall movement of their finances. It also provides a user with snapshots about their bank balance(s), overall expenses, details about debtors and creditors as well. All of this allows you to steer clear from making accounting errors as well as keep track of all your payments – need more convincing!?
