I met the affiliate manager for Xero accounting software at Affiliate Summit this week. In full disclosure I’m an affiliate and this is a sponsored post. I’m happy they asked me to write this because it made me make time to really look at Xero and take the idea of using accounting software more seriously. It’s one of those things I want to put off or avoid because I don’t like doing it. I no longer have a bookkeeper to keep track of it for me so I need to get it done.
Years ago, I hired someone to help me with Quickbooks but it was way more complex than I was ready for, even with help.
The thing that stood out in my mind after talking to Xero is a quote from a blogger who said, “If you make more than $500 a month you should be on Xero.” I qualify! Even though I’m married to a financial planner and I’m still awful at my own books. Tax season is painful. I pay bloggers, have receipts to track for tax season, and do invoicing.
While I’m better than I have been in the past, I really need to get more organized! Another reason bloggers will want to check out Xero is because Xero is the most affordable accounting software.
If you have an online business, by default you think that you need to buy a domain name, get web hosting and set up an LLC. You might think about accounting software but usually that comes later – when you’re making money – if you think of it at all.
The default accounting software for everyone is Quickbooks. It’s the Kleenex of accounting software. But have you heard of Xero accounting software? I’ve outlined some of the key features and why bloggers or other small business owners can be happier with a more modern, cloud-based and mobile accounting software solution.
FEATURES OF XERO ACCOUNTING SOFTWARE:
- Payroll and accounting – to track and categorize all your expenses and income. Track work hours, approve time off and make payments to your virtual assistant or contractors. They can use the Xero Me mobile app to view their pay, submit time worked and more.
- Invoicing, including a feature that will automatically generate an invoice or recurring invoices every month to pay your social media specialist, virtual assistant, etc. It too. In addition, Xero will automatically send reminders to your clients when you haven’t been paid.
- Bank reconciliation – automatically import financial information from your bank accounts, credit cards and PayPal accounts in a few minutes. Then match them to the corresponding accounting transactions. Confirm that the match is correct, press “OK” and the transactions will be reconciled.
- Pay people with direct deposit or printed check (available in Australia, New Zealand, the United Kingdom and 25 US states).
- Keep track of every client and transaction – you can view their transaction history, get instant acceptance of proposals online and easily turn them into invoices.
- Make beautiful and professional proposals.
- Charge and track sales tax as well as print your sales tax returns in less than 5 minutes.
- Track time spent on projects.
- Store documents like proposals, contracts and receipts within Xero so you don’t have to search your email to find them! You can store them in a general library or attach them to a particular transaction. That means you can attach all the documents associated with a particular client or job. No more searching your email for those important files or searching Dropbox to find them!
WHY YOU’LL LOVE XERO:
- It’s super easy. You can automatically import transactions from bank accounts and from Paypal. You can also create “rules” so your expenses coming in will be categorized automatically. That will save you a ton of time!
- An automated accounting system that will dramatically cut the time you spend on bookkeeping.
- Links easily to Zen Payroll and other payroll systems.
- Connect Xero to other parts of your online presence automatically, like your website, Stripe, Square, Harvest, and more. You can use Apple Pay with Stripe. This is very useful. Now you can pay our invoices with just one thumb, in less than 8 seconds.
- Mobile – use their app to do bookkeeping on the road, wherever you are.
- It’s more intuitive and right-brained than Quickbooks and other accounting software. If you already have Quickbooks, you can transfer everything from Quickbooks to Xero with help from their customer service team.
- Charging and paying taxes will be so much less painful.
Here’s a link to Xero’s pricing as of January 2017. It starts at an affordable $6.30/month for the first 6 months and then it goes to $9 per month.
FREE TRIAL OF XERO
Click Here to Try Xero FREE for 30 Days – no credit card required. You can get the full version of Xero free for 30 days to see if it’s for you and if it can help you organize your business finances. No obligation with the free trial or any plan.
I started using Xero…I am very happy that I made the switch. It is a feature rich software. I love the fact that they calculate all my tax returns with just the push of a button and I have a professional report. Xero makes my work so much easier. It is a user-friendly software. The price is amazing and customer service is world-class. Love that it is cloud based so I take my business with me wherever I go it’s paperless.
Nicole Feliciano of MomTrends
The video below if from blogger, business owner and mom, Nicole Feliciano from MomTrends. Her business did $1 million last year.
Vicki Kosuda, Owner of Beyond Financial Consulting, talked about how MomTrends has grown exponentially thanks to having better control over finances. She said, “One of the reasons why [Nicole has] been able to grow and make it into a profitable, successful business, is because we are on top of her numbers. And Xero allows us to do that.”
Nicole fully agrees. “Being able to look at my financial situation in one clear, concise picture has been tremendously helpful. Vicky’s also done these amazing year-end recaps for me where I can see where the year has gone, and compares it to the year before that. Looking at these projections, we’ve seen such amazing growth year-in and year-out – and that’s given me the confidence to keep taking risks, keep trying new things. Because I see when we’ve tried new things, it’s really succeeded for us.”
Nicole can take her laptop and smartphone anywhere to run her MomTrends empire. This mobility and time management is invaluable as she balances the demands of family and business.