In Part One, we encouraged you to ditch the literal shoebox full of receipts and enter the world of cloud-based accounting with Xero. And now that you have your new ‘shoebox’, here in Part Two we’re going to share the habits you need to form to make the most of it.
Shaking Old Habits
Previously, you may have waited until the weekend to tackle your growing pile of receipts, expenses, and invoices. Or perhaps you dedicated one day a month to sit down and go through your finances.
However, thanks to Xero, you no longer need to take such an approach. So long as you add to it on a regular basis, you’ll see the benefits of real-time and up-to-date financial information.
Making the Most of Xero
Every single aspect of Xero has been designed with small business owners in mind. Its goal is to make your day-to-day financial administration as simple as possible, and then give you the tools and information to not only run your business, but continue to grow and develop it too.
But in order to experience the benefits of Xero, you need to get into the habit of feeding it the right data. You can do this by securely linking Xero with your business bank account, using it to send invoices, and by regularly uploading your receipts and expenses.
And when you do, you’ll enjoy the following:
- A clear view of your financial data that makes sense. That means no jargon and no complex, hard to understand features.
- Instant access to the numbers you need, with a clean and simple default dashboard view, and the option to drill down and examine data in more detail.
- An understanding of what the numbers mean for your business. With just a small amount of training, you’ll be able to make informed decisions based on your financial data.
Keep Calm and Stay Organized
Once you’re comfortably adding the correct financial data to Xero, you need to make sure both you and your employees stay organized. This means implementing a clear expense reporting process to ensure nothing is missed, and everything remains tidy and up-to-date.
By adopting the habit of adding to your alternative ‘shoebox’ on a daily basis – at least to begin with – you’ll have a categorized and structured system from which you can drive your business forward. Contrast that with the overflowing mess of paper you’ve left behind, and you’ll soon see why over a million business owners have subscribed to Xero.
In Part Three you’ll learn how to leave the ‘shoebox’ mentality behind, and fully embrace cloud accounting and all its benefits.
Ready to Make the Switch?
If you’re already convinced that your approach to financial management would benefit from Xero, our friendly and experienced staff are ready to help.
Click here to learn how Polay+Clark can get you up and running in no time at all.