It’s tax season, a time many business owners dread because it involves reconciling all invoices and expenses, and ensuring no costly mistakes are made. Fortunately, there are ways to save time and money while handling your taxes these days.
Take Xero, for example. This online accounting software has gained popularity in recent years. Launched in 2006, Xero now boasts over 700,000 users and is used by more than 16,000 accounting firms worldwide.
Since it’s online, your data is securely stored, eliminating worries about backups or computer failures. The Xero platform is user-friendly and doesn’t require any installation—just log in online to get started. Plus, they offer unlimited 24/7 support.
So, what can Xero do? It helps manage your daily cash flow, allowing you to enter invoices on the go with its mobile app. Offering options like PayPal or credit card payments to customers can speed up the payment process.
You can get a comprehensive view of your business finances, including invoices, bills, expense claims, and bank account balances. You can also manage inventory and monitor business performance through dashboard charts. By linking your bank account to Xero, reconciling statements and invoices becomes a breeze with just a few clicks. Xero also simplifies payroll management, and by granting your accountant access, you won’t need to download or forward data. While you can still export to formats like Excel or PDF, your accountant can find all necessary information directly on Xero. Additionally, Xero allows unlimited users, so you can share access with any key personnel in your business. Having all your business’s financial information in one place saves a lot of time, especially with the mobile platform’s accessibility from almost anywhere.
As for pricing, Xero offers a 30-day free trial so you can explore its features. By using a specific link, you can also get 30% off for the first six months. There are three plans to choose from, and you can change or cancel your plan anytime.
The Starter plan, ideal for businesses with a few clients or those just starting, allows you to send 5 invoices and quotes, enter 5 bills, and reconcile 20 bank transactions for $9 per month, reduced to $6.30 with the promotion.
The Standard plan, costing $30 per month (or $21 with the promotion), offers unlimited invoices, quotes, bills, and bank transactions, plus payroll processing for up to 5 people.
The Premium plan includes all Standard features, adds payroll for up to 10 people, and handles multiple currencies. It’s priced at $70 per month, or $49 for the first six months with the promotional link.
These offers are current as of March 2017, but may change in the future.