Xero – What Is The One Task That Most Business Owners Do Not Want To Do Yet Is Critical To Their Success?

The books!

Let’s face it, most small business owners are in business to perform the trade, service or skill that they good at and enjoy. Whether it’s as a plumber, a marketing consultant or an engineer, it is certainly not to be an accountant.

The thought of having to balance the books scares many people while others just do not understand it and so put it off hoping it will go away. But it won’t.  The GST and year-end tax returns have to be filed and the right amount of tax paid. You have no choice.

And speaking as a former accountant, I can assure you that the joke about the shoebox of receipts is very real.  I didn’t mind – it made me more money with all of the extra work but today it is money the business owner does not need to spend

How can you save yourself hours of stress and lots of money?

Very simply, it is a computer program called Xero.

Now don’t get concerned about it being a complicated program that only accountants or book-keepers will understand. Xero is a very simple tool most of which is already set up for you.  You simply enter your expenses on one side and create invoices to your customers on the other.

The program then produces the reports and tax returns you need to manage your business and to keep the IRD satisfied.

It does other boring tasks too If you link your Xero account to your bank account, it will reconcile your accounts… automatically. Imagine how many hours that will save you.

Bill payments can be set up to be paid again automatically with scheduled batch payments.  Simple and quick plus it avoids any embarrassment or hassle from disgruntled creditors.

Stock control and payroll can also be handles quickly and easily along with expenses claims.

For business that have online sales, these can also be integrated into the same account.  No more copying and pasting from one spreadsheet to another.

The best part? For me, I think the best part about Xero is that it is an on-line program.  That means you can access your account from anywhere so you can log in to check your balances. If you have a meeting with the bank manager or accountant, you don’t need to prepare or carry bundles of documents.  Simply log on in their office and they can see all the data.

And the absolute best part is that because all of the data is online, you do not have to remember to back it up.  How many files and hours of data have you lost because of a PC crash or you didn’t save a file?  That simply will not happen if you use Xero for your financial management tool.

As a small business owner and as a former accountant, I simply cannot recommend Xero high enough.

For advice and support using Xero call me on me on 021 903 914 or email by at lynda@quantumsolutions.co.nz