Xero Accounting Software
Dashboard of Xero Accounting Software
The Dashboard of Xero provides a good overview of your financial status. It provides you with the bank information, Invoices issued and unpaid invoices, bills to be paid, etc. The Dashboard has more information than Quickbooks' Dashboard. By clicking on the links in the Dashboard, you are able to find out more about the items you clicked on. In other words, you can drill deeper into the numbers or issues.
Xero Accounting Software appears to have a better Dashboard as compared to Quickbooks. However, some people may prefer the minimalist concept of Quickbooks' Dashboard. If you are someone who prefers to see more information at a glance, Xero may be a better option. On the other hand, if you are someone who just wishes to see the high level performance of the business and would only like to know more details when necessary, Quickbooks may be a better choice.
Xero has several templates for invoicing and you can customize your Company's logo, header, footer, colour and more. The best thing is that you can issue and amend invoices via mobile apps. This is especially useful for small business runs by one or two owners.
Xero Bank Reconciliation appears quite simple. It allows you to add 2 transactions together for one payment or receipts. However, there is an issue with partial payment or partial receipt. You may have to make manual adjustments for such transactions.
Upload Expense Receipts and Other Documents
Xero has an attachment function where you can attach contracts or receipts relating to transactions. This is a very useful function as these attachments act as supporting documents for making payments, issuing invoices or collecting money. It does not have the optical recognition capability which Wave Accounting provides (information is valid as at December 2017).
Recent Collaboration with Bank
Xero has bank feed integration with UOB and DBS bank. This facilitates the recording of accounting entries and bank reconciliation as bank deposits and payments are push to the Xero Accounting Software in a secured manner. We believe that more banks will collaborate with Xero and other Accounting Software going forward. Information here is last updated on 31 December 2017.
Sign Up Xero Accounting Software with Us
Besides Accounting Software, our Accounting Services include Financial Accounting (Financial Reports for external users like investors and creditors) and Management Accounting (Management Reports for internal users like Directors and Managers).
For non-profit organization on Fund Accounting, it is also possible to use the cloud accounting software like Xero.
This is the starting point of recording the financial transaction. Bookkeepers ensure that the transactions are entered into the accounting software in accordance with the double entry rule. With modern technology and cloud accounting software like Xero and Quickbooks, bookkeeping becomes possible for people who do not know much about double entry.
If you are looking for businesses to acquire or you wish to sell your business, please discuss with us. We can link you up with potential deal.
With accounting software, the preparation of tax return can be quickened. All necessary information for tax return preparation may be extracted from the software and explained easily and swiftly to the tax authority.