Online Bookkeeping and Xero

In my last blog I briefly referenced the power of the new range of online bookkeeping options. There's plenty to choose from: Clear Books, FreeAgent & Liquid to name a few. At Mr & Mrs Accountant we are proficient in all of these, and more, but without a doubt my favourite is Xero, which is why Mr & Mrs Accountant are a Xero partner.

The beauty of Xero is in both it's simplicity to use, and the power of it's management reports. Xero has an extremely clear and easy to use interface, which makes navigating it and using it much easier to learn and much easier to drill down into the key information in as few clicks as possible.

In an age of  iOS7 it's just as important for programmes to look good, as well as function properly. Thankfully Xero's interface is a calming light blue colour, that adds an air of tranquility to proceedings.

User-friendliness and aesthetics aside, the true power of Xero lies within it's ability to produce excellent management reports, with a level of detail unsurpassed by any other bookkeeping provider.

I've uploaded an example management report on a Demo Company that I completed last month here. As you can see, the report can include information on an Executive Summary, with all the key figures that you need to run the business with, along with a succinct summary written by myself (or another member of the team at Mr & Mrs Accountant). Once the key figures and information has been extracted from this, then you can move onto the more nitty gritty details, where you can access cash flow, profit and loss, balance sheet as well as reports on aged payables and receivables.

This provides all the key information you need to run your business, and the brilliance comes in that it is permanently saved on your Xero's business account, so we both can access it whenever we want to refer back to information.

The level of detail it provides to run a business with is, in my opinion, too good to turn down. Any serious business knows the importance of knowing the financial figures to running the business, but would also expect to bundles of cash to get them, now using Xero we can provide them for much much less.

Now is the perfect time to go for it, if you are thinking of using Xero. I'm currently providing free demonstrations to anyone who fancies using it, including as a Google Hangout if you want to save the time of travelling. I look forward to talking to you about how this can take your business to the next level.

Thanks for reading, I'm Thomas Szczepanski - Master Accountant.