Xero – Beautiful Accounting Software
Xero is an integrated online client accounting system that has an ultimate goal of “zero data entry” by all accounting professionals. The company has expanded its US operations and made number of strategic investments around the world. Updates to the software are released every five to six weeks, and its extensive and strategic investments in various product features have made the entire SaaS based Small Business Accounting Segment highly competitive than it was few years back. The Xero accounting software is best for small and medium companies that need cloud based collaboration between their trusted advisors and internal staff. It includes support for multiple currencies and banking integration. The software uses its own rule set to automatically classify transactions, and can directly important transactions from financial institutions, which makes this accounting product very useful for all those who want to automate bookkeeping work for the company. Basic Functions The accounting product strikes a fine balance between being driven by credit and debits and being forms oriented. It’s simple interface when combined with efficacy of its tools in importing and classifying various transactions automatically, makes it possible for expense transactions to be easily imported and coded using direct data important from various financial institutions. The dashboard of the product provides a graphical view of your company’s health along with an easy navigation structure for scanning the supporting data. All users with specific industry needs can easily modify the included list of can copy the entire chart of accounts from other data files. Xero accounting software does not support inventory accounting or job costing; though you can deploy these solutions from companies add on partners. The availability for add-ons for Xero has increased significantly in the past few years, and now more than 128 are available for use. Xero’s Core Accounting Capabilities Being a true, double entry system, Xero provides full support for forms-based transaction and adjusting journal entries. It has integrated accounts receivable and accounts payable functions, and you can approve bills and other transactions from
within the application. You also get access to Xero’s mobile website (m.xero.com) that allows you to connect anytime, anywhere from a browser. In addition, Xero accounting software also provides free Xero Touch native app (for Android and iOS). It allows you to take picture of the receipt and upload it on Xero and then attach it as a support for any transaction right from within the mobile apps. You can also enter bills and create invoices, and can also go ahead and see your customers account receivables, credit cards and bank statements from anywhere. Xero supports check printing, and has tools that can be used by outside accounting professionals that are referred to as advisors. They help in making various entries, creating financial reports, and exporting data into tax applications. Xero also supports VAT and sales tax calculations through its special Tax Rates settings, and also provides reporting through sales tax detail and summary reports within the product. Xero accounting software supports multiple currencies, and all conversion to home currency is automatic based on exchange rate tables obtained on hourly basis from XE.com. The product is currently available only in English, but invoices can be easily created in many languages by changing the titles and captions on the invoice template to the desired language wording.
Xero is an integrated online client accounting system that has an ultimate goal of “zero data entry” by all accounting professionals. The company has expanded its US operations and made number of strategic investments around the world. Updates to the software are released every five to six weeks, and its extensive and strategic investments in various product features have made the entire SaaS based Small Business Accounting Segment highly competitive than it was few years back. The Xero accounting software is best for small and medium companies that need cloud based collaboration between their trusted advisors and internal staff. It includes support for multiple currencies and banking integration. The software uses its own rule set to automatically classify transactions, and can directly important transactions from financial institutions, which makes this accounting product very useful for all those who want to automate bookkeeping work for the company. Basic Functions The accounting product strikes a fine balance between being driven by credit and debits and being forms oriented. It’s simple interface when combined with efficacy of its tools in importing and classifying various transactions automatically, makes it possible for expense transactions to be easily imported and coded using direct data important from various financial institutions. The dashboard of the product provides a graphical view of your company’s health along with an easy navigation structure for scanning the supporting data. All users with specific industry needs can easily modify the included list of can copy the entire chart of accounts from other data files. Xero accounting software does not support inventory accounting or job costing; though you can deploy these solutions from companies add on partners. The availability for add-ons for Xero has increased significantly in the past few years, and now more than 128 are available for use. Xero’s Core Accounting Capabilities Being a true, double entry system, Xero provides full support for forms-based transaction and adjusting journal entries. It has integrated accounts receivable and accounts payable functions, and you can approve bills and other transactions from
within the application. You also get access to Xero’s mobile website (m.xero.com) that allows you to connect anytime, anywhere from a browser. In addition, Xero accounting software also provides free Xero Touch native app (for Android and iOS). It allows you to take picture of the receipt and upload it on Xero and then attach it as a support for any transaction right from within the mobile apps. You can also enter bills and create invoices, and can also go ahead and see your customers account receivables, credit cards and bank statements from anywhere. Xero supports check printing, and has tools that can be used by outside accounting professionals that are referred to as advisors. They help in making various entries, creating financial reports, and exporting data into tax applications. Xero also supports VAT and sales tax calculations through its special Tax Rates settings, and also provides reporting through sales tax detail and summary reports within the product. Xero accounting software supports multiple currencies, and all conversion to home currency is automatic based on exchange rate tables obtained on hourly basis from XE.com. The product is currently available only in English, but invoices can be easily created in many languages by changing the titles and captions on the invoice template to the desired language wording.