What is Xero?
Xero is an cloud-accounting software that is designed for small and growing businesses. Xero connects small businesses with their trusted advisors and provides business owners with instant visibility of their financial position. As a web-based solution, Xero can be accessed from any device with an active internet connection.
Some of XERO Features:
1. Pay bills
Track and pay bills on time. And get a clear overview of accounts payable and cashflow. You can see what bills are due and pay them on time. Making batch payments and schedule them in advance, You can access all your bills online from anywhere at anytime.
2. Claim expenses
Take a photo of receipts or record your mileage using the app. OCR technology scans key information and auto fills your claim then submit an expense claim with the receipt attached. Reimburse expenses promptly minimize the time employees wait to get paid back. You'll get notified as soon as an expenses claim is submitted. You can quickly review and approve expenses in one click. You can also monitor employees spending, by using the expense tracker, you can review by employee, status, account and project.
3. Bank connections
Connecting your bank account to Xero to get automatic bank feeds. Transactions flows directly into Xero each business day. Daily bank feeds let you reconcile daily so the accounts provide an accurate up-to-date picture of your business finances. You can view a summary of the money coming in and going out on the dashboard. It categorise transactions each day so a backlog does not pile up.
4. Send invoices
You can create and send professional-looking invoices from Xero's easy-to-use software. You can create one or more invoice layouts. You also can let customers pay you straight away from online invoices using third-party payment services, add a "Pay now" button to online invoices for one-click payment. Set automatic reminders give customers an extra nudge and take the work out of chasing payments, you can choose how often you want reminders to be emailed and remind customers before or after the due date.
5. Pay runs
Manually calculate deductions and record leave. Use Xero to pay a few employees and keep secure records. You can enter employee hours, hourly rates, taxes and deductions. You can pay employees manually or upload a batch payment file to your bank. You can also keep employee pay records and bank account details online and exporting a batch payment file and upload it to your bank to pay employees.
6. GST Return
Xero calculates GST on supply and purchases, and generates a GST F5 return and IRAS Audit File (IAF) which makes GST preparations effortlessly. Xero automatically include foreign currency conversion amounts with GST in invoices. Accurately track, review and manage GST transactions in Xero as you can view the next due date and GST you owe at anytime, sort transactions into groups based on IRAS filing requirements.
Conclusion
Xero is very useful towards businesses that have many people working. It helps companies to grow and pay their bills on time. Xero is very efficient as it is simple to use even though those without knowing anything to do with Xero.
Want to know more about Xero?
Call us at +65 6262 0402 or email us at care@acebizservices.com to get the information details on your needs.
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