Great Financial Ideas Newsletter - March 2012

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At first, the idea of outsourcing your accountancy software may seem a little strange. You may worry about the prospect of not owning the software installed on your own computer or server. But the benefits of Xero’s online accounting software are considerable. The process is secure, and will revolutionise the way you deal with your financial management.

Benefits of Xero cloud accounting

More than 200,000 businesses in over 100 countries use Xero cloud accounting. Xero allows you to run your accounts online from anywhere with an internet connection. You can manage your accounts from your PC, a laptop or tablet, or even from your smartphone.

Other benefits of Xero include:

• Security. With Xero, you have data securely located off-site and fully backed up. You don't have to worry about the potential failure or loss of data.
• Reports. Xero can provide regular management reports. These show with complete accuracy the current financial status of your business.
• Direct bank link for reconciliation. Xero cloud accounting gives you a direct link to your bank so you can reconcile your accounts online.
• Save money. When you choose Xero cloud accounting, you pay a monthly fee. You don't pay any upfront costs for accountancy software.
• No need to buy updates. You don't pay extra for Xero updates. They are automatic and part of the monthly fee.

The cloud and your accountant

Imagine this scenario … you need a new tap in your bathroom. The plumber suggests you fit it yourself, but don’t worry, he’ll pop round later to switch the water back on. But when the plumber arrives, he says it’s been wrongly installed (with a plumber-like sharp intake of breath) and he’ll have to redo it.

That’s an extreme example of course, but many businesses have similar accounting procedures. They set up their systems without the advice of their accountant. And at the year end, they discover it’s wrong and must be put right.

With Xero cloud accounting, your accountant can help you set up your systems from the word go. You both have access to your accounts. You don’t have to transfer files electronically or risk sending them by post. Your accountant can see what is happening in your business and advise you accordingly.

Xero offers you complete control of your accounts. And by giving your accountant access to Xero, you have an accurate, responsive and reliable means of managing your business finances. Sorry … we can’t help with the plumbing though.

Andy Parker
Chartered Accountant Birmingham

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For advice on all accountancy and financial issues contact Parker Chartered Accountants and Financial Advisors on 0121 704 1354.


Andy Parker
Parker Chartered Accountants + Financial Advisors

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