Simple. Smart. Secure.
Xero is an award winning online New Zealand designed and owned accounting system. Its ability to securely support many users, with access anytime, anywhere, makes it the perfect choice for managing your financial information. Financial information is truly real-time – with daily bank feeds that capture bank transactions within the system).
As Xero is a subscription based application, meaning there are no annual costs associated with upgrades or system changes. Xero generally updates or enhances the system every 12 to 16 weeks. Additional support is also provided free of charge via online queries.
As Xero is online, financial information can be reviewed from anywhere. We can operate the entities live data online, to provide real-time assistance and advice.
There are no infrastructure changes required – Xero hosts both the application and data securely. There is no software to install, no data files to transfer, no backups required (Xero has six backup servers to store data). All that is needed is a web browser and an internet connection. Regular monthly upgrades are rolled out to all users seamlessly.
Xero provides automatic daily bank feeds from the major NZ banks (including ASB, ANZ National Bank, BNZ, Kiwibank, TSB and Westpac) providing true real time data, which makes it easy to stay on top of the financials on a day by day basis.
Xero has comprehensive monthly management reporting features including the ability to export data in a variety of forms including Excel, PDF and Google Docs. Xero has adopted a ‘design led’ approach so it is truly easy to use.
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Key Benefits of Utilising Xero
Aside from the software licensing cost reductions, there are a number of other significant benefits associated with utilising Xero, including:
Automated bank feeds
Bank transactional information is automatically feed into Xero on a daily basis. ANZ would provide transactional information to Xero, who in turn load that information within the various Xero entity. This avoids the need to manually enter bank transactions in an accounting system.
The creation of bank rules ensures regular transactions are automatically coded on reconciliation. This significantly reduces the amount of time associated with coding transactions and ensuring it is accounted for correctly for GST.
Easy Accounts Receivables & Identification of Outstanding Amounts.
Invoicing has never been easier than with Xero. There is almost no setup required to start invoicing customers via Xero. Invoicing can even be carried out from your iPhone you’re the Xero app.
Most small to medium business struggle to track time of jobs, you can create a draft invoice for a customer and log your time directly into the invoice, ready for invoicing once the job has been completed.
Additionally, at a quick glance you are able to identify the level of outstanding invoices and who needs to be chased for payment. Xero also has the functionality to create repeating invoices, further reducing time associated with preparing invoices.
Ease of use
Xero is an accounting system that has not been designed from an accountant perspective. Xero’s pleasant layout, easy of navigation, lack of accounting jargon and outstanding online guides, allows non-accountants to easily operate the system. On the occasions when a mistake is made, correcting the error is relatively simply and undertaken with just a few clicks of the mouse.
As a result of the bank transactional information flowing through Xero daily, the monthly reports can usually be completed within a few hours of month-end. This allows the Directors to make more informed and timely financial decisions.
Accessibility of Information
As Xero is an online accounting system, authorised users can access it from anywhere they have internet access. This enables authorised users to review key information during the month at any time of the day (or night).
This also particularly useful for providing on-going support and dealing with quick over the phone queries, as the All Accounted For team is looking at the same information as the user. There are no additional costs for creating additional system users and there are various levels of user access rights.