Managing your agency finances can be a daunting task for any business, which is why choosing the right bookkeeping software is crucial. Xero is one of the top recommended choices when it comes to bookkeeping software, and for good reason.
Here are some of the reasons why Xero is my number one choice:
Automatically Chase Invoices
With Xero you can easily set up automatic chasing of outstanding invoices. This feature is especially useful when you are dealing with a large number of clients and invoices. With up to five opportunities to remind clients to pay, you can spend less time manually chasing down payments. To set this up, go to Organisation Settings > Invoice Settings > Invoice Reminders and customise your email reminders.
Flexible Invoice Templates
Xero offers full flexibility on invoice templates. You can create different branding themes to show different bank details or to use different logos and branding for different brands under one Limited company. Additionally, you can customise your invoice styling by tweaking the DOCX template. This level of customisation allows you to present your brand consistently and professionally.
See more on this here.
App Store and Integrations
Xero has its own App Store with over 1,000 third-party apps that can integrate seamlessly with Xero. This gives you the option to turn your admin headaches into search queries and come up with integrated software stacks to help streamline your business. For example, if you currently track your customers on a spreadsheet and this is getting a bit too cumbersome for your growing business, you can quickly search the Xero App Store for "CRM" and find over 100 options. With so many options, you can find the perfect fit for your business.
Here’s the top of my search for “CRM”:
In our opinion, Xero has one of the better multi-currency support systems out of all the bookkeeping products. It’s simple and effective. To access it, you do need to pay an extra subscription fee monthly, but if you deal with anything other than GBP, it’s important to get it set up properly. With Xero’s multi-currency support, you can easily manage your finances across borders and different currencies, making it an ideal choice for businesses that operate internationally.
Combine this with a powerful cross-border system like AirWallex and you really can’t go wrong.
Making use of your dashboard in Xero is very useful for when you’re quickly popping in to take a look at something or do a quick task. Xero's dashboard allows you to jump straight into a bank reconciliation, see your accounts watchlists, or review your outstanding bills that you need to pay. You can turn off panels you don’t need and adjust the ones you do to make better use of your dashboard. By selecting “Show on Dashboard Watchlist” in the Chart of Account settings, you can add different accounts to this overview screen. Want to keep a close eye on Marketing spend? Pop it on your Watchlist.
Overall, Xero offers a product that make bookkeeping and accounting easier for businesses of all sizes. It's user-friendly, flexible, and well-designed. If you're considering Xero as your bookkeeping software, and still have questions, get in touch!
If you're already on Xero, and looking for experts to help you make sense of the numbers, book a Discovery Call here. We'd love to chat!