Accountants for startups

 

Start-Up Businesses

Planning to start your new business is quite a challenging task in itself. There is a lot of effort, drafting, organizing and groundwork involved that need to be done before the launch of a new organization. Even if it is a small-medium organization, coming into establishment from the sea of entrepreneurs who face an already-existing enormous competition there is a lot of forethought and preliminary work that needs to be done. `In such a situation, handling the financials of the company is the most essential task.

Cloud Accounting System:

Financials are the most important part of the company. The most essential part of commencing a business is to have proper accountants that genuinely keep all the financial data organized, updated, and most importantly confidential. These modern times of technological advancements urged the development of an advance and technical system that is extremely to use and that is called Cloud Accounting System.

A cloud accounting system is an accounting system that keeps all your accounting information, bookkeeping, and financial data accessible to you at all times. Access to any cloud accounting system requires a device with an internet browser, an internet connection and you can log into your account and check your current details in real-time. It doesn’t require any software installation and all upgrades are free.

 

Xero Accounting System:

Xero Accounting system is a cloud accounting system that provides the best possible book-keeping solutions to its customers all over the world. All your accounting and financial data is accessible to you in real-time. In short, Xero is your accountant for all your new or existing businesses. It is accessible at all times with reliable and accurate information about the intricate details of all your companies and their crucial financial data when you log into your account.

We have been serving the industry with its cloud accounting system since 2006. We have crossed 2 million global subscribers. Over this short period, we have grown and connected with over 200 financial service providers and integrated with more than 800 third party applications.

The launch of Xero Touch Mobile Apps for iOS and Android in 2011 has made it easier to manage your accounts on-the-go.

Managing and Reconciling all the Transactions:

Xero is a user-friendly system and can be used by dental accountants, bookkeeping services, retail accountants, VAT return specialists, eCommerce accountants, and hospitality accountants. It is extremely organized and keeps you updated at all times. All you need to do is to add your the transaction, with easy instructions that you can manage or an accountant, can manage on your behalf.

Bank Statement Reconciled

The bank transactions are automatically reconciled after your consent with just an “OK” click. These transactions that happen in real-time are imported to your Xero and reconciled automatically. The graphical representation of your bank balance appears instantly on your screen giving you an overview of your daily bank balance, in a line graph.

Important Accounts:

Details of all the accounts are extremely important but there are a few important ones that need our attention on a regular basis. Xero allows you to keep a watchful eye over these from the dashboard just as you enter into your account.

Customers and Suppliers

Apart from managing your banking transactions, Xero also manages your Customers’ and Suppliers’ accounts. You can also keep contact details in case you need to prompt them for clearance of bills and payments. All crucial information with their current/real-time statuses is available on your smart screens.

Invoices and Bills:

The customer invoices and the bills to be paid to your suppliers all are sorted for you on the dashboard itself. This feature prompts you of all the necessary recent activity that needs follow-up. Both bills and invoices show you the status: drafted, awaiting payment, and overdue. Xero helps you to keep a watch over your financial activities that need your utmost attention.

Cashflow

A significantly essential feature that clearly shows you, the cash inflow and outflow in a bar chart format. This chart shows the monthly cash flows for each month and indicated your net cash flow for each month.

Managing all your Companies:

Entrepreneurs start their business with one company, but when they wish to grow then the sky is the limit. Businessmen these days are enthusiastic to manage more than one company. Xero recognizes this well with its system allowing you to connect all your companies and deal with each on a different level. Using the Demo Company Tab on the menu bar you can add all your companies to Xero.

Managing Your Business

All your business-related transactions that are related to your customers, suppliers, inventory of products and services, and checks are all listed here. Details of each of these can be looked into by just clicking on them.

Customer Related

You can create a new invoice or quotes for your customer, print or email your statements and even import or export them. Soft email reminders can also be sent to your customers to prompt them to make outstanding payments.

Each invoice or quote can be printed, emailed. Once the invoice is paid or the quote is approved, the data will be updated as soon as these changes are made. History, with details of any changes, can also be viewed for reference.

The sales overview shows you a bar chart that assists you in going through your company’s progress regarding your sales over the past few months. Crucial information regarding your accounts receivable also shows on this page.

Supplier Related:

New bills and purchase orders can be created here and as you make payments you can update here. This will change the status of your bills from “awaiting payment” to “paid”.

Each bill or purchase order can be saved and printed for your reference. Individual bills and purchase orders can be viewed. History can also be seen for any changes that have been made to that particular purchase order.

Just like the sales overview, the purchase overview also shows you a visual representation in form of a bar chart, showing the payments that need to be made to your suppliers.

Expenses

All your expenses can be seen here in different formats, categorized by their status and employee. You can get an overview of these expenses, by approving (or turning down) the ones that are submitted to you, pay the approved ones and get a bar chart view of these expenses.

Products and Services:

Check your inventory here. A list of all your products and services are shown here. Further details of each product can be seen too that will assist you in checking your exact number of items that are in stock. Details about the supplies and the sales for quantity and price are all listed here.

Details of Your Bank Accounts:

Details of all your bank accounts are reconciled with your Xero account time and again with your one-click consent. Transferring money is also very convenient with the “Transfer Money” option. Use the reconcile tab to match the Xero and your bank account if it is not already reconciled.

Getting Accounting Reports:

All the accounting reports can be accessed in the reports section of the accounting tab. You can get details and a summary of all your financial reports including your balance sheet, your income statement, your cash flow statements, etc. All other reports are there in detail for your assistance and analysis.

Advance Accounting Feature:

This feature is for your accountant but can be used if you are doing your own accounting. This feature helps you change the settings of your financial account details and manually enter data.

How can Xero help your company?

·         Easy Access: You have a smartphone and an internet connection. Log in your details over the web browser and you land on your Xero accounts. It is that easy. Everything is at your fingertips.

·         Convenience: No special software installation required and all upgrades are totally free.

·         Ease and Clarity in the transaction: Anyone can be their accountant, just enter the details. Simple language makes this system easy to use by all.

·         Real-time action: All bank transactions are imported directly and automatically as Xero is linked to all your bank accounts. All other transactions can be put indirectly. Do the easy work let Xero do the hard part.

·         No chance of fraud: With such clarity and intricate details, with the summary and history of editing of minor details, the chances of fraud reduce significantly.

·         Notification to customers for payment: Xero allows you to send soft reminders to your customers to make the payments. These can be scheduled at a date you prefer and you can forget about it.

·         Highlighting bills that need attention: Xero also makes you responsible by highlighting the payments you need to make so you can make it in due time.

·         Fully customized: Xero can be completely customized as per your requirement. Favorite out important details, select dashboard items to be displayed, and edit any rules you require.

 

Try Xero now and manage all your accounts like a pro. Let us take care of your accounts, financials, and bookkeeping details so that you can grow by focusing more on your own business.