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Xero Online Accounting Software, helping SMEs in Ireland adapt to an ever-changing business environment

Introduction – What is Xero and How does it Help Companies?

Xero is a cloud-based accounting software that helps small businesses with their finances.

Xero is a cloud-based accounting software that is typically best suited to SMEs. It provides an easy and convenient way to manage your finances. It’s also completely free for small business owners to use. It offers features such as invoicing, bank reconciliations, and expense tracking which are all essential tasks for any business owner. It offers bookkeeping and accounting services, as well as payroll and other HR solutions.

Benefits for SMEs of Using Xero as their Accounting Software

If you are a small business owner and are looking for an accounting software that will help you save time, money, and effort, then Xero is the right choice for you. Here are five basic reasons why Xero can be a good solution for your business:

1) All the features of Xero are accessible from any device and very easy to use on mobile. This means that you will never have to worry about being disconnected from your data or having to carry around your laptop at all times.

2) The user interface of Xero is intuitive for business owners and easy-to-use.

3) With Xero, you can sign up for a free trial account  and its very affordable for business.

4) You can use Xero to publish your financial information on the website of your choice or download the data for reporting .

5) You can integrate Xero with other accounting software like QuickBooks and Microsoft Excel with thousands of integrations for business performance applications.


Let’s look at some key reasons you may consider using Xero Accounting for your business.

A lot of businesses want to be leaner, more efficient, and more transparent. This is why it’s important to streamline key processes in your business.

Simplifying processes in your business and becoming more efficient are two key areas where Xero can be used to help your business to adapt. Xero can help to pivot when necessary, by allowing you to look at your data in real time and ask your accountant about any issues that may be presenting themselves.

It’s a quick way to work out profit margins and business performance

One of the huge benefits of Xero, as more businesses bring their offerings online, is its marketplace with over 1,000 applications. These applications integrate with your business to help complete or assist you in running your business far more efficiently.

Xero also allows business owners to keep a close eye on margins. One of the areas that causes most grief for companies moving online is trying to calculate their margins as well as taxes for online sales. Xero can take care of these literally at the touch of a button even to calculate online merchant fees which can be upwards of 5% of revenue. Xero is an end–to-end system which takes a lot of that donkey work out of the equation and shows you financial results on a convenient real time dashboard.

Xero is designed with business owners in mind, not just accountants. Not everybody will have the expertise to maintain a system and someone with less knowledge may not use the machine correctly. By helping Irish SMEs analyse margins and to start focussing on the products and services that generate actual profits which in turn will help with cash flow and either help to maintain the company’s current position or help the company to grow.

Avoid cash flow surprises for your business

The usage of accurate and up to date Xero accounts payable reports allows business owners and managers to get a true picture of what their cash flow looks like. They will also be able to avoid any unpleasant surprises in the coming weeks and months. By not looking at forecasts of what needs to be paid in the future, owners can often overlook upcoming business expenses and end up putting themselves and their businesses under unnecessary pressure.

In short, the reporting systems on Xero can give business managers and owners a clear data-based picture of what they can and what they can’t afford to do over the short and medium term. If what they see in those reports is not enough to maintain or improve their company’s position, then they need to create a specific plan to grow sales or look for alternative suppliers where margin is better.

Stay focused on business costs

Xero allows you to focus on very specific areas where costs are rising within your business. For example, marketing and ecommerce prices are trending upwards at present and being able to keep track of the cost of those and the effect it has on your margins is a very important part of your business.

One of the areas of business currently facing huge challenges is business quotes. Prices which were changing month to month during Covid are now changing week to week. Xero’s quoting structures allow for this and surcharges can be built in both short term and on a recurring basis to ensure that businesses’ cash flow is protected. Quotes can include clauses for possible stock or service price hikes for clarity of both the buyer and seller.In conclusion, Xero is a great option for small businesses and entrepreneurs who want to focus on their business rather than managing their finances. Xero helps businesses to improve productivity by helping them to integrate technology for areas such as sales, inventory management, procurement as well as the accounting process leaving Irish companies more time to work on the business rather than in the business. An approved Xero partner may be able to assist with implementation.

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