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(Audio) Improving Xero performance to utilize all current and new functions


Congratulations to Xero and their team for reaching the 1M subscriber milestone just a few months ago!

From day one, we have been a big supporter of Xero, even back when MYOB and QuickBooks were the flavour of the months. Xero is a markedly successful New-Zealand start-up currently going global. Already, it has offices located around the world and over 1,800 staff members. The product has been reported as a highly effective financial planning tool, providing an innovative accounting service that will not only change the way accountants work but also how businesses perform.

Every year, our team has attended XEROCON, the annual Xero conference in Australia. There were over 2,000 accountants and bookkeepers at the last annual gathering, all eager to witness how much Xero can offer to accountants and business owners to facilitate their professional structure.

The changes Xero has undergone, with its rapid level of improvement and innovation, mean that the product is truly unique from other available services. Nonetheless, there are still business owners believing that there are only limited differences in subscribing to Xero over other accounting software.

In the past few months, we have seen many business owners either DIY their Xero setup or getting experienced bookkeepers to do the setup for them, with problematic results. Some attempt to use Xero as they were previously using MYOB or Excel.  Bills, hours worked and invoices were entered manually one by one to Xero after they got paid, simply for the purpose of record keeping and tax. Reports were done in Excel manually; Xero was only used to get data collected during the quarter. Super was still getting paid manually by using Super Clearing House, even though Xero can almost automate this process. These are only a few examples of how Xero was being used at a below optimal level.

It is sad to see what these business owners were doing- essentially, they were fuelling their electric cars with petrol! Hence, the efficiency of Xero usage was only at about 20%! Our role is to explain the benefits and services of Xero (not just with accounting) and demonstrate how to get Xero to collaborate with other software to ensure all information is synched together. These improvements can transform business structure and maximise both efficiency and profitability.

Here are few tips of utilising Xero:


Software for Healthcare and Special Care Start-ups: Choose XERO

With only a few accounting software options on the market, it seems healthcare and special care industry start-ups under NDIS have only two options to choose between: MYOB or XERO. However, NDIS-related services can be complicated, and the two systems are not necessarily equal in terms of their benefit to users. Given your limited budget as a start-up business, you might want to learn more about these two software options before making your choice.

Here is Tailored Accounts’ take in the issue. 

Comparing MYOB with XERO is like ranking Taxi Services against Uber. XERO creates a community of accountants, bookkeepers, application developers, and business owners, where ideas are exchangeable. It acts as a platform that can facilitate communication between those in the industry. MYOB is trying to follow in their footsteps; however, XERO is still the market leader for three reasons.


A Bookkeeper’s Life with MYOB

With more than 1.2 million active business users globally, MYOB is proud to be the leading accounting software provider in New Zealand and Australia. Offering over 50 products and services ranging from desktop software to cloud-based solutions, MYOB is confident to fullfill small businesses’ needs. 

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