Posted on Admin Army

How Well Do You Know Your Accounting Software?

Whether you are in a love or hate relationship with your accounting software, you have to admit that you need it. Even if it is just because your accountant tells you so!

Accounting software is an essential business tool to make your life easier and to keep those all-important finances in order. But did you know that many accounting applications are capable of so much more than basic bookkeeping? Programs like Xero can transform the way you run your business – increasing productivity and efficiency and reducing costs.

Figuring out all those capabilities and potential add-ons on your own can be time-consuming, particularly if you are not really that tech-savvy.

So, if you want to get the most from your software, it’s well worth getting some training from a Xero expert to give you a head start. Here’s why…

How Well Do You Know Your Accounting Software?

Increase Productivity

Training boosts confidence, and the more confident you are in using your accounting software, the more productive you will be at your routine tasks. Financial software is designed to be efficient and automate processes that were previously manual. Once you discover all the things Xero can do, you can streamline many of those fiddly tasks and save yourself a whole lot of time.

That can include automatically generating and sending invoices for recurring charges, easily reconciliation regular transactions, assigning payment due dates based on clients or jobs, automated follow up emails for outstanding payments and so much more.

Reduce Costs

Your time is valuable. Instead of spending hours every week struggling with software you don’t 100% understand, invest in professional training. Once you know how to use it correctly, you will sail through your tasks and have more time to focus on the other vital areas of your business (that’s code for the tasks that actually make you money!).

Collaborate And Communicate With Your Accountant And Bookkeeper

Even if you outsource your accounts, you should have a thorough understanding of how your books work and how to effectively use your software. This means you can periodically check that everything is running as it should be. It also means that you can have conversations with your bookkeeper and accountant that don’t go over your head.

Play It Safe

If you are not using your accounting software correctly, you could be making some crucial errors that will cost you in the long run. Training ensures you understand exactly what you need to do every week to comply with tax and industry regulations. After all, you don’t want to get on the wrong side of the IRD!

Integrate Your Systems

Did you know there are more than 500 different products that can work with Xero to suit your business needs? You can integrate it with your email, customer relationship management tools, inventory management, or almost any other system you can imagine.

You can also establish a direct link to your business bank accounts and other payment providers like PayPal and Stripe. With daily updates, you will always have your up to date financial position on hand.

When you chat to a Xero expert about your business’ needs, they will be able to come up with solutions you probably don’t even know exist and train you on how to put it all together.

Make Accounting Fun!

Did that one make you laugh? Yes – it’s possible for bookkeeping and accounting to be a task that you don’t hate. It might even become a task that you enjoy doing! When you have the confidence to know your way around your accounting software, the task becomes much more appealing. Instead of dreading it and procrastinating, you will get it ticked off your to-do list quick smart.

Xero is a powerful tool that can help you succeed. Using it just for the bare basics is like having the latest high-tech oven and using it only to heat frozen meals!

So, if you would like to sharpen up on your Xero skills, Admin Army can help you do it! Firstly, join our awesome Facebook group where we share all our best Xero hacks and info. Secondly, if you are ready to level up your Xero, then we can organise a training session to ensure you are getting the most out of your accounting software! Drop us a line today.