Xero is the global leader in online cloud accounting with over 300,000 existing customers in over 100 countries. This software is hosted in the cloud and customers can access it anywhere with the help of an internet connection, an email address and a password. It also has a mobile app for your mobile device allowing you to access your accounts on your mobile phone. It is designed to save you time in performing routine bookkeeping tasks on a day to day basis.
Xero has a number of very useful features including the following:
- A dashboard allowing you to see at a glance the financial health of your business.
- Connect Xero to your bank accounts by bank feeds which upload transactions from your bank accounts into Xero allowing you to track cashflow and avoid the need to manually input transactions into Xero from your statements.
- Perform bank reconciliations with a few clicks of a button.
- Send invoices to customers online through Xero with online payment options. Reduce the time to get paid by including a pay now button.
- Chase outstanding payments with automatic reminders.
- Set up repeating invoice templates and have these automatically sent to your customers.
- Set up repeating bills (for repetitive monthly bills). Reducing data entry.
- Send statements to customers.
- Record your expenses.
- Run your payroll through Xero.
- File your Vat return with HMRC through Xero.
- File your statutory accounts and company tax return through Xero tax.