Bookkeeping programs are the vein of most business owners existence. Unfortunately they’re vital to our businesses and our ability not only to comply for tax but also to report on our own performance. Finally there’s a brighter future install for these archaic systems. Enter

The new kid on the block is Xero and there’s a few key reasons why this program is taking small business by storm. Firstly it’s web based. Yep, that’s right all you data is held online rather than on your hard drive. No more risk of loosing everything due to a local meltdown. Secondly it links directly to your bank accounts. This means money in and money out can be automatically reconciled. Thirdly and most importantly you can sync the program to just about any other web based CRM or system. This means no double entering data. And lastly you can give access to your accountant. No more going to visit the Accountant to show them your books, just email them an access code and password and they can log in to your system and fix anything they need to or even produce your BAS statements and returns.

The practical applications of Xero are endless. With hundreds of addition options and add-ons, you can make Xero do, report or function in just about any way imaginable. Sales you make in your online store on your website can be automatically accounted for in Xero buy linking your paypal or merchant account with the program. Email follow up sequences for unpaid invoices can be built, work flow processes for every aspect of your business can be implemented. In fact the functions of this system and its add-ons are far to big to fit in this post.

So why move over from MYOB or Quick Books, simple. Xero will reduce your data entry, save you time and give you more reporting opportunities to analyse your business. Because its web based you can give employees restricted access to send invoices or enter sales from any computer not just the one with MYOB saved on it.

The underlying benefit is that it will increase the value of your business. In years to come, business owners running Xero will be able to prove their businesses performance easier and more clearly through this system than any other. It also allows simple transfers of data across to your purchaser.

For a system that has so much benefit and only costs $49 per month, why wouldn’t you make the jump. By saving you time and money, Xero is a must see for all small business owners.