What makes Xero cloud accounting software such a valuable tool for small business owners?
If you’re a small business owner and you’re in the market for new accounting software, then you’ve probably heard of Xero.
Whether you’re looking to make the switch from your old accounting software, or haven’t used any accounting software before, Xero is a reliable, easy-to-use tool for growing businesses.
Xero originated in New Zealand back in 2006, but since then, their market has grown exponentially. Today, Xero leads the New Zealand, Australian, and United Kingdom cloud accounting markets, and there are more than 2 million Xero subscribers worldwide.
So, what exactly makes Xero a great choice for Australian small businesses?
What does Xero accounting software do?
Xero is well-known for being simple to use, and for being one of the best accounting software for growing businesses.
Xero has a number of different plans you can choose to subscribe to. All plans include the basic functions you’d expect from high quality accounting software: like sending invoices and quotes, tracking inventory, running payroll, bank reconciliations and paying bills.
Xero is an online cloud accounting software, which means its accessible through the internet, rather than having to physically install it on your computer. There are plenty of benefits to using cloud-based software like Xero.
- You can access the cloud anywhere, so long as you have a device and an internet connection.
- You don’t have to store, protect and manage data, as it’s all on the cloud.
- The software is automatically updated whenever there is a new update.
- If your computer is stolen or damaged, you’ll still have access to Xero accounting through the cloud.
Is cloud accounting safe?
In the age of technology, where cyber attacks are becoming more common and hackers are becoming more inventive, it’s a perfectly valid question to ask if cloud accounting is secure.
As the provider you’re using is responsible for managing and protecting this data, it’s up to them to guarantee you that your data is safe.
As far as security goes, Xero stores your data securely online and encrypts it using industry standard data encryption. No-one has access to your business’s data unless you provide it to them, so you have complete control over who can and cannot view this data. Xero also monitors the industry and news regularly, and reports on the latest news and trends in security on their Security Noticeboard, which is a great resource for users.
And as we mentioned above, one of the biggest benefits to using cloud accounting is that if your computer is stolen, you’ll still have access to your data instead of losing everything. And if the thieves do manage to crack into your computer, they’ll have a hard time accessing Xero due to Xero’s two-step authentication security process.
What kind of businesses can benefit from using Xero?
Small but growing businesses can benefit from Xero accounting software.
The reason for this is because Xero offers a range of flexible plans you can choose from depending on your business’s needs.
This is because there are different levels of Xero you can access, depending on your business’s needs. So you can begin on the Starter plan, and upgrade later as your business needs change. As your business continues to change and grow, you can upgrade your Xero subscription to suit.
And if you’re the kind of business owner who is used to juggling a few different things at once, then cloud accounting has the added bonus of letting you manage your accounts from wherever you are.
How long does it take to learn how to use Xero?
From the get-go, Xero has been designed in a way that is streamlined, logical and user-friendly. This makes it easy for those with no accounting experience to navigate the software and use its basic functions.
But to really get the most out of Xero without hiring an Accountant, it’s worthwhile investing in a short course.
Our partnership Certificate in Xero short course is a brand new online course that will teach you everything you need to know about the core elements of Xero Accounting. It’s designed for both finance professionals and small business owners alike, and acts as the perfect introduction to Xero Accounting.
It should take you approximately 15-17 hours to complete the entire course. Throughout the course, you’ll learn practical skills and see how the various features of Xero function.
Why spend money hiring an Accountant when you can learn everything yourself?
Find out more about the Certificate in Xero short course here and how you can become Xero certified.