You can use cloud-based software from any device with an internet connection. Online accounting means small business owners stay connected to their data and their accountants. The software can integrate with a whole ecosystem of add-ons. It’s scalable, cost effective and easy to use.

In the cloud, there’s no need to install and run applications over a desktop computer. Instead, you pay for the software by monthly subscription.

• The data in the system isn’t up to date and neither is the software.
• It only works on one computer and data bounces from place to place. For example, on a USB drive. This is not secure or reliable.
• Only one person has user access. Key people can’t access financial and customer details.
• It’s costly and complicated to keep backups (if done at all).
• It’s expensive, difficult and time consuming to upgrade the software.
• Customer support is expensive and slow.

1. Automated daily bank feeds
   You can set up a bank feed to automatically import bank statements into Xero. This saves you having to manually import them yourself.
2. Available anytime you’re online, from anywhere
   Because it is in the cloud, you can work where you want, when you want, and have as many users as you like for not extra cost!
3. Invoicing
   A typical business owner may use an Excel spreadsheet to track all incomings and expenses, and then create invoices in a Word document. This is quite a clunky way of doing it, and as the business grows, it will be even harder to ensure errors are not made.With Xero, invoicing is not only customised to your business, it is fast and simple. In just a few clicks you can create an invoice for a client and email it to them, you can even see when they open it, so no more “I never received the invoice” excuses!
4. Easy to use and access
   As a cloud-based solution, XERO is accessible from practically any device that’s connected to the Internet. This offers a major advantage to small business operators, enabling them to see the latest up-to-date information and stay in control of all receivables, payments and transactions.
5. Ability to upload files
   Xero lets users upload and attach files to be used as supportive documents for various transactions. This way, important and useful information can be added to individual transactions, making it easier to keep track of all the moving parts.
6. Integration with other programs
   Xero is great at “getting stuff done” as a stand-alone solution, right out of the box. However, its compatibility and ability to integrate with other programs and systems, significantly enhances its usefullness to the small business owner.
7. Compliance with the ATO
   The system is constantly updated internally to ensure ATO compliance. As soon as it becomes compulsory, all superannuation and tax rates are updated automatically. You will never need to upload new rates, as is often the case with desktop-based systems.