Taking the Big Leap: Great Changes in Cloud Accounting for SMEs

Posted by D&V Accounting Services

Mar 30, 2015 12:45:00 PM

According to recent reports, the customer base of Xero in Australia has grown to 200,000 as of the end of this quarter. The expansion of its client network is presumably due to the recent updates made for the Xero cloud accounting software. To understand these new improvements more thoroughly, here’s a basic rundown of the new Xero features:

1. New reports feature 

Xero understands how much accountants these days struggle with the tedious task of customising reports. To improve the process and to cut the time spent on financial reporting standards, Xero introduced a new reports feature. With the development of this feature, customising reports will now be a breeze.

2. Enhanced inventory functionality

One of the undeniable advantages that Xero has over other cloud accounting programs is its open API feature, a functionality that makes it possible to integrate various features with the core Xero product. Now, though, Xero is making things even easier by incorporating a built-in inventory management feature to its system.

3. More bank feeds

The importance of automated bank feeds for small business owners cannot be emphasised enough. Acknowledging the need to further improve its bank feed functionality, Xero recently added 1692 bank feeds to the core Xero product, making it easier for their customers to keep tabs on their business finances.

4. Improved file storage and retrieval system

Digital files are considered as fixtures in cloud technology. To help its customers store, organise and retrieve files easily, Xero came up with a new feature which allows users to link various transactions with one another. Moreover, this new feature also permits newly-uploaded digital files to be readily available to the users.

Constant improvements in modern cloud accounting platforms work well in helping customers revolutionise their business accounting operations. Isn’t it time to take advantage of what these new advancements have to offer?

To explore cloud accounting solutions further, you may get in touch with our qualified advisers at D&V Philippines.

 

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