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5 Ways you can use Xero to improve your business

Written by Michael Rodriguez • Senior Accountant
Published on 03 Dec 2018

Does manual handling of data entry bog you down?
Would you like the ability to monitor your cash movements?
Thought of getting paid quickly and easily on your wish list?
What about a better way to manage your debtors so you will always be on top of it?
How about knowing how the business is performing?

If the above scenario keeps playing in your mind and keeps you awake at night, then we may have a solution that can assist you through the use of apps. Yes, apps but not just any apps! These apps are compatible and connect with Xero thus giving you another dimension on how you can use Xero effectively – improving your business!

Let’s revisit those scenarios above and see 5 Ways you can use Xero to improve your business with apps

 

 

1. Ability to convert your receipts and invoices effortlessly into Xero data

Receipt Bank

Reciept Bank is an excellent app you can use to manage and safely store all business receipts. Simply take photos of your business receipts and the app will automatically provide you with a paper trail of business expenses without an actual, physical paper trail.

One of the best features of this app is how it “reads” photos of your receipt to store data into the correct fields within in Xero. You can either review prior to posting or certain apps can apply the coding rules in Xero eliminating unnecessary time wasting.

 

 

2. Know your cash movements ahead

Float

Cash is King! The Float app is designed to assist you in real time with forecasting on your cash movements. This allows you to then make better decisions about your future business plans. Become a cash champion by integrating Float with Xero.

 

 

3. Collect your payment quickly and online on the spot

Stripe

Stripe provides you with the ability to get paid instantly after you have completed a job! It’s designed to process the payments by your clients on the spot which reduces your administration time and cost when you leave an invoice to be paid at some future time.

 

 

4. Stay on top of your debtors and get paid on time without the headaches

Debtor Daddy

Debtor Daddy run’s as your credit control arm. It allows you to run your business whilst knowing your collection process is running efficiently in the background. Your invoices are being managed through a series of reminders for payments to your clients which means less time digging through emails and credit history to see if your client has paid or contacted you to discuss an invoice.

 

 

5. Run insightful reports to assist you in decision making

Spotlight Reporting

Spotlight Reporting is designed to use your Xero data and convert these data into meaningful information such as cash flow reporting, performance reports similar to a profit and loss and also the ability for dashboard reporting to track your business KPI’s.

Check out another recent blog in this category.

Michael’s extensive experience in financial accounting, business advisory services and technical advice and support give our team and his clients a wealth of experience and knowledge that he loves to share. Authour | Michael Rodriguez

Senior Accountant, Fitzpatrick Group

Post Categories: Small Business

Want to speak with Michael about choosing the right apps for your business?

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