Accounting software can improve your processes and increase your business’s value. The trick is knowing the difference between them and how to pick one.
To get to the meat of it, we recommend using Xero for your accounting needs. But Xero isn’t the only tool you can use. With its wide variety of integrated apps, you can use the software for almost anything in your business.
In this blog we dissect accounting software and the best that Xero has to offer.
Xero uses
Xero is the ‘hub’ of your business, showing you all your financial data in one convenient and easy-to-manage client dashboard.
As you go about your business, Xero should be the go-to tool that you use to manage your business’s financial information. It stores almost everything you need, from your bank balance and debtors to your sales figures and invoices.
If you’re using Xero to its full potential, everything you need to know will be at your fingertips. As accountants fluent with Xero, we’ll be able to see all your data in real time, too. That way, we’re both on the exact same page during our discussions and calls.
Xero is best utilised on a computer, but it’s also available as an app on your smartphone, allowing you to stay on top of your finances at home and on the go.
Dext
Dext is an essential add-on for Xero, acting as a great method to smoothly collect data and transfer it to Xero.
Its purpose is to make your bookkeeping more streamlined. With Dext, you can easily digitise all your paperwork simply by taking a picture of your receipts or forwarding a PDF of an invoice. This can be fully automated for your convenience.
Most impressively, you can connect Dext with over 1,400 suppliers so you automatically receive invoices, statements and bills, which will significantly reduce the exhausting papertrail of regular bookkeeping.
Dext can also help you with your digital sales data. It does this by fetching your sales data from multiple eCommerce and point-of-sale platforms, including Amazon, Shopify, Stripe, eBay and more.
It brings all this together in a standardised format, ready to export to your accounting software.
Spotlight
Spotlight is a tool that gets under the skin of your business and presents information in a user-friendly format that can be used by everyone – not just accountants.
The app connects directly with Xero to produce high quality forecasts for your business, detailing everything you need to know including cashflow and KPI progression.
With a holistic view of your business’s performance in your hands, Spotlight empowers you to make smarter decisions with confidence.
You can also gain access to around-the-clock support and training sessions tailored to your needs.
As professional accountants proficient in Xero, we can also give you all the advice and support you need for your cloud accounting journey.
Talk to us about cloud accounting.
