Are you a struggling business owner drowning in bookkeeping chaos?
We get it—running a business is tough enough without trying to figure out which accounting software won’t drive you crazy! With so many tech options out there, it’s easy to feel overwhelmed. Are you obsessing over finding the sleekest, most professional-looking app? Or maybe you’re more about seamless integrations with your favourite tools? And let’s be honest, how much does slow customer support bug you (or is that something you can live with)? Whatever your style, we’ve got the scoop to help you find the perfect match for your business!
Keep in mind there are a few factors to consider when purchasing software but we’ll show you why Xero is worth every penny.
Before we get to the deets, you may be wondering, “What exactly is Xero, and how does it work?” In the simplest way to put it without any accounting jargon (because we know how baffling it can be), Xero is a cloud-based accounting software tool that lets you store your financial files online. The best part? It supports unlimited users on ALL plans and is more affordable than QuickBooks—another popular accounting software used by small businesses.
You’re probably thinking that Xero is just like any other accounting software out there. Well, you’re not wrong, but there are many other features that make Xero unique. In this blog post, we’ll dive into its coolest features and a BONUS tip on what the difference is between Xero and Hubdoc.
What we love about Xero
Xero has plenty of great features to rave about, but we’ve asked our amazing accounting team to share their thoughts on how it’s taken their accounting game to the next level.
One accountant shared, “I find the interface user-friendly as it follows a clear process flow which helps prevent confusion. It’s perfect for small business owners and is easy to navigate. I also love the multi-currency feature that makes it easy to convert values as it automatically converts values from other currencies into the currency used by the user in their financial reporting. The only downside for me is that it is best suited for SMEs (Small Medium Enterprise), but it can become a bit complex for larger businesses handling more extensive transactions.”
Another accountant from the team shared similar thoughts, “Xero is more user-friendly compared to other accounting software like SAP Business One, Quickbooks Online, and MYOB to name a few. User-friendly as you can search through their Xero Central which has categories to help you navigate something that you are troubled with. Invoicing is straightforward, and bank statements/feeds are automatically synced which makes bank reconciliation easier. On top of all of that, Xero integrates with Hubdoc where receipts are processed and pushed to Xero for proper documentation.”
What is the difference between Xero and Hubdoc?
Are you one of the people who are confused by Xero and Hubdoc? Don’t worry because you’re not alone. We’ve come across multiple clients, especially those new to these accounting software, who often struggle with understanding certain processes or figuring out which platform they should link their bank account to.
If you’re new to these tools, Xero handles tasks like invoicing, bank reconciliation, payroll, financial reporting, and more. Essentially, Xero is the core system for managing your overall accounting. For those wondering, this is the platform to which you would have to link your bank account to.
Hubdoc, on the other hand, is your go-to for document management, automating the collection and organisation of financial paperwork. With their handy app, you can snap photos of receipts and upload documents, letting Hubdoc do the data extraction for you. There’s a lot to love about Hubdoc, and we’ve broken it all down in our blog post: The Benefits of Hubdoc!
What we love about both tools is that any extracted information on Hubdoc can be synced directly to Xero, reducing manual entry. Want to know what’s even better? Hubdoc is included with all of Xero’s monthly subscription plans, including the lowest tier!
Getting started with Xero is pretty simple, but like anything new, it might take a little time to fully get the hang of it. With our Business Management service, we don’t just help you buy the software—we’re with you every step of the way. From installation and setup to ongoing support, we’re here to make sure everything runs smoothly so you can focus on growing your business.
If you have any further questions related to our Business Management service, you may send us an email at hello@calculatedmatters.com.au.
