Why do I need one for my business?
Accounting plays an important role in running a business because it helps you track income and expenditures, ensure compliance with statutory regulations, and provide investors, management, and government with quantitative information about business performance which can be used in decision making.
Your accounting records generate three key financial statements.
- The income statement displays your profit and loss.
- The balance sheet is an official company document with details on your business’s financial standing. We can use it to see the books are in order and that everything is in balance.
- The cash flow statement is a financial statement that connects the income statement and balance sheet. It measures the cash generated and spent during a certain period of time.
J Pro Consultancy practice the use of Xero – a cloud-based accounting system, which can automate at least 80% of your accounting process especially on data entry.
Because of market penetration and system integrity, you should go for Xero.
If you got not much of business transaction, you probably do reconciliation once a month by downloading bank statement from bank portal. Whereas if you have tons of business transaction, you would do it frequently by logon to bank portal. Nevertheless both the approaches require manual data entry to the account system and might cause hours or days to do it.
One of the greatest feature of Xero is its the connection to your bank account. Imagine your bank account feeds transaction detail to Xero which can reduce at least 80% of your data entry time. Besides that, it applies business intelligence to do bank reconciliation for you automatically. Try it out with our 30 days free trial!
Enterprise resource planning, point of sale, marketplace, logistic, warehousing, inventory management and many more systems that might be using by different companies to improve business process efficiency. One of the crucial task for accountant could be extracting data from all these channels and put it into accounting system to generate P&L, balance sheet or any other reports. It is definitely time consuming!
Xero is ready for system integration with more than 1,000 apps or systems in the market. Data from the selected channels can be directly synchronize into Xero which reduces manual data entry workload. Not sure what can we sync with? Contact our representative for more info.
Each of us has at least one mobile phone, and this is why Xero had mobile application ready to assist your daily business needs. Create invoice & quotation, go through account receivable or payable, quick access to accounts dashboard are all in our mobile application. It is simple and easy to keep track your business just in a hand-held device.
Manual data entry is what we always looking forward to avoid, because it consist the risk of human mistake during data entry process and time consuming. By using Dext, sales & expenses claims are all no longer require manual data entry into your accounting software. 3 simple approaches to use Dext in scanning business data.
1. Snap photo by using phone camera or our mobile app
2. Upload img or pdf file via our web portal
3. Request supplier to send invoice to your dedicated Dext email address.
All your data are then in our system with 99.98% accuracy rate. That’s how Dext works!
There are too many reasons you should go for Xero, request for 30 days free trial and experience it with our guidance. You may always find it easy and excited in your learning progress.
