Why Xero Cloud Accounting is Great for Int’l Startups in HK?
Contributed by AsiaBC | 27 Nov 2020
Have you ever imagined managing your business’s finances while you fall soundly asleep at night? Can you just picture that at any given moment, you can access your finances from all over the world in the palm of your hand? Well since its inception in 2006, Xero Accounting Software has been doing exactly just that—making your life easier by allowing you to stay on top of your business in real time. It’s motto “beautiful business” could not have been said any better.
Xero Accounting Software in a Nutshell
Xero offers affordable bookkeeping, reporting, and bank reconciliation services and carries out tasks such as payroll and invoicing. As an accounting software designed for small businesses, Xero empowers your growing business by increasing efficiencies, boosting your revenue through better data flow, and improving your practice by freeing up work capacity in the right places.
How Does Xero Work for You?
Xero is essentially a cloud-based accounting software that allows you to access your accounting information and records from nearly any computer or mobile device. In simple terms, cloud-based accounting means that all the accounting work and information can be done, backed up, and saved online. In addition, Xero provides real-time reports on your finances allowing you to take control of your business as you spend more time making decisions on the things that matter.
What Are the Benefits of Using Xero for My Business?
Small businesses are integral to the growth and prosperity of the economy. Designed for small businesses and startups, Xero transforms how people collaborate and how they work together. Accounting for more than 98 percent of the city’s business units, providing jobs for more than 1 million people, and making up for 45 percent of the city’s workforce, small and medium businesses are at the heart of Hong Kong’s free economy.
Xero is all about making it easy to stay on top of your business’s finances. While the list can go on and on, there are a number of key reasons why you should start integrating Xero into your business.
First, Xero enhances your cash flow and allows for faster payments. Skip the printed invoices and go for online invoices where you can speed up the process of getting paid. Instead of resorting to documents, spreadsheets, or PDF files, you can send an online invoice and they can pay you online through your invoice. It also includes a wide selection of professional invoice templates that can be customized to suit your needs.
Second, Xero makes it easy to manage your finances and collaborate with people. For startups, tracking business finances is no easy task. It may be costly to hire an in-house CPA and difficult to find trustworthy people. Xero accounting software turns this challenge into a program that’s easy to use and understand even for those who are not familiar with accounting. With Xero, everything is quick and simplified because it is on the cloud.
And third, Xero is affordable and convenient to use. With a number of options for every price range, there are alternatives for even the most budget-constrained business. For instance, the USD$20 monthly starter plan allows you to reconcile bank transactions, enter 5 bills, and send 20 invoices and quotes while the USD$40 premium plan includes the same features but grants you unlimited access plus adding a multi-currency feature. To make things even better, Xero also comes with a free 30 day trial so there’s no reason as to why not you shouldn’t give this amazing software a try.