Xero

About

Xero is a global small business platform with 3.95 million subscribers which includes a core accounting solution, payroll, workforce management, expenses and projects. Xero also has an extensive ecosystem of connected apps and connections to banks and other financial institutions helping small businesses access a range of solutions from within Xero’s open platform to help them run their business and manage their finances. Additionally, with Xero, accounting and bookkeeping practices gain access to efficient compliance tools, smart practice management software, and a cloud-based single accounting ledger for every client, in one place. Product features for small business: - Automatic data entry – Xero can eliminate data entry by pulling records of sales and expenses directly from banks, invoicing apps, point-of-sale systems, ecommerce sites and receipt scanners. - Bank connections – business transactions are copied directly out of the business bank account over a secure online connection so no one has to key in data. - Smart bank reconciliation – the software learns how users classify certain expenditures and makes suggestions. This can make bank reconciliation a simple click-to-confirm process. - Online billing – the software can be used to send invoices and offer customers multiple payment methods (such as credit/debit card and direct debit). It can also send automatic payment reminders for unpaid invoices. - Automated financial reporting – balance sheets and financial statements can be produced with the push of a button. Tax returns can also be pre-populated in some regions. - Business dashboards – vital stats in real-time such as money in, money out, money due, and money owed are constantly available on a visual dashboard. - Integration with other apps – Xero integrates with hundreds of other third-party business apps to help run a business with their unique industry and business administration challenges. Business apps include options to build a customised experience from inventory and logistics to cash flow, project management, customer relationship management, e-commerce and more.