Modern Accounting Software – Xero
There are many types of modern accounting software and as an accountant, you need to be well-versed in all of them and able to use them proficiently in order to carry out various accounting and bookkeeping tasks.
Connect using any mobile device
As well as storing a business’s financial data, modern accounting software is also used to perform certain business transactions, usually when connected to the internet, via a server or ‘in the cloud’. Provided they are mobile friendly, you can connect using any type of device such as your laptop, tablet or even a smartphone in order to gain access. If you are using data that is stored in the cloud then it will automatically update and store, offering superior security when compared to server based systems.
Saving time and money
With so many different variations of modern accounting software available, they carry out a variety of different tasks; most will allow you to enter data to be stored and analysed, saving immense amounts of time and money when it comes to time consuming practical tasks such as bank reconciliation or invoice production. The other great thing is that this type of software enables things like financial reporting, payment of invoices and payroll to be fully automated, avoiding human error and making it easy for you to carry out routine tasks in record time.
Because accounting is such a critical component when it comes to any business, financial information needs to be continually up-to-date and available in real-time to share with stakeholders. By using a software solution such as Xero, accountants can dramatically simplify the way that they work. Paper-free and far more sophisticated than traditional systems such as QuickBooks or Sage, it is fast, simple and sleek. Totally cloud-based, as long as you have access to an internet device, you can access Xero from any location.
An extremely powerful piece of software, it can produce and send invoices electronically, allowing the customers of a business to pay bills via a credit card or even PayPal; gone are the days of ‘the cheque is in the post’ when online payments are so easy to make. Xero also allows even the busiest of people to capture their expenses immediately and provide a view of the status of the business cashflow at any time. Whilst managers are busy taking care of their business, Xero carries on working away in the background, taking care of automated bank feeds, reminders to pay invoices and the production of invoices.
Whether you are a fully qualified accountant or just taking part in your first work-based placement, having a good knowledge of Xero will certainly stand you in good stead as nowadays it is the first choice of many businesses, no matter their size or sector of operation.
So what are you waiting for? Get in touch today, access further information and get yourself headed in the right direction towards a great career in accounting. Falcon are the team to have by your side when building a successful accounting career.