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Podcast with Financially Insecure Entrepreneur

At Xero, we rarely make references to being “financially insecure.” Mainly because we love to focus on the positives of well-organized and balanced business financials. But for the Financially Insecure Entrepreneur (FIE) podcast, we made an exception – and joined as a guest speaker.

Leading the charge is our very own Arthur Garcia, Regional Sales Director. Arthur sat down with Xero Partner Michael De Lucia of De Lucia + Co. to discuss the value of online accounting.

And not to overstate this – but this is so cool! Financially Insecure Entrepreneur is a popular resource in the small business community and a great example of how an accountant is educating his audience.

Take a listen as Arthur puts on his (smooth) radio voice and chats about all things Xero, including:

  • Is the cloud safe?
  • Can you really automate bank feeds?
  • What does anytime, anywhere mean?

Listen to Arthur’s Financially Insecure Entrepreneur podcast

Speaking of podcasts, did you know that Xero has a podcast? Yes we do. Please give it a listen and let us know what you think.

 

Quick tips for keeping a closer eye on your inventory

If you hold items to sell on to your customers, you’ll know that efficient inventory management is the lifeblood of your business. Lose track of your items, or fail to keep up with customer demand, and you’ll feel it on your bottom line. So here are some tips from Grant Anderson, Xero’s Head of Accounting, on how to stay on top of your inventory management:

  1. Get organised

It could well be time for a cleanup. Take this opportunity to look at the items you have and delete old lines, write off stock and also review your pricing. You can use the inventory template that’s available for you in Xero to start listing your items.

  1. Think about your inventory handling process from purchase to sale

Are there some steps that  can be eliminated by using a single ledger, cloud based application? Map each step and see where you can create some efficiencies to save time.

  1. Track your items and monitor your quantity on hand

Run regular reports to monitor your stock levels so you never run out of those high moving items you know your customer will always want.

  1.  Pricing

Take some time to review your buy and sell price for each item. Get a feel for what the current market rates are for your type of item (so that you can remain competitive and don’t price yourself out of the market). If you use Xero, you can easily run reports to review your pricing information.

  1. Connect with a Xero Advisor

We have a pool of skilled Xero advisors who are only too happy to get you started using inventory in Xero.

If you’re in the manufacturing industry or have large quantities of items with multiple warehouses, your advisor can also work with you to select the best add-on inventory product to suit your needs. Find your nearest Xero Advisor.

 

Helping the world while Xero handles the numbers

Daniel Flynn and his team have a lot to be thankful for. Rising brand fame, an expanding product range, and numerous endorsements and accolades. All this from an idea they had in university — Thankyou Group.

Through all that, the group has stayed true to the vision that kickstarted the whole Thankyou movement. To fund and facilitate water, food, hygiene and sanitation projects for people in developing nations.

“We’re driven by helping people who are in need by making a positive and enduring impact on their lives. And to date we’ve raised over $2 million for our programs overseas. We’ve helped over 132,661 people get access to safe water, and we’ve helped over 153,507 people get access to health and hygiene training. Plus we’ve funded over 5.2 million days’ access to food aid,” said Daniel, co-founder and Managing Director of Thankyou Group.

While these numbers are the lifeblood of the Thankyou business, they aren’t the only ones Daniel and his team need to keep a keen eye on.

Keeping track of the numbers

As a business with stakeholders both in Australia and abroad, the team count on Xero when they’re away from their head office in Collingwood. They need to track their profit and loss, balance sheets, superannuation, expenses and overall business finances, even when they’re overseas. Continue reading ›

 

US tax time countdown

It always happens, every year, just like clockwork.

You roll up your sleeves at the start of tax season and prepare to take on the rush. But by April, you’re face-to-face with loads of outdated QuickBooks files, clunky Excel sheets and the dreaded shoebox of receipts. It’s enough to make you loopy.

Chin up! Xero has you covered.

How Xero helps at US tax time

Save your sanity these last two weeks with five Xero features that take the pain out of tax prep:

  • Automatic conversion. Break the habit of fixing neglected QuickBooks and Excel files by automatically converting clients to Xero. Free, and found inside Xero Partner Edition, this conversion tool helps you dive into write-up work – fast.
  • Xero Files. Bid the shoebox bye-bye. Scan source documents directly into your client’s GL for all-in-one access with Xero Files. And if you have dual monitors, put Xero Files on one screen and Quick Spend Money on the other for fast data entry.
With Xero, US tax time is a breeze – and you can say goodbye to shoeboxes... or itty litter boxes... filled with receipts!

Yep, there are clients who keep receipts in a litter box.

  • Cash Coding. Talk about a time-saver! Cash coding lets you reconcile hundreds of transactions with a click.
  • Journal entries. Create adjusting journal entries, single or repeating, to balance the books manually.
  • Export to tax. Great for Schedule C clients, export client data to TaxACT, Lacerte Tax, ProSystem fx Engagement or CSV.

Partner exclusive plans

Despite the rumors of tax work being seasonal, keeping clients compliant is a year-round job. That’s where Partner plans like Cashbook ($12/month) and Ledger ($3/month) come into play. Perfect for tax clients, these low-cost versions of Xero help attract new clients and keep them organized throughout the year .

Find out more about Xero for tax work

 

Xero Denver is hiring!

Xero Denver outgrew its original office space after 9 short months. Since opening our larger office in Denver on October 31, 2014, Xero has added 18 new employees, with another 10 starting April 6, 2015. The Denver office is exploding! We’re winning. Come help us win more.

Xero is active in the local startup community, and partners with organizations like Built in Colorado and the Colorado Technology Association. Denver was chosen to host Xerocon 2015 in the U.S. at the Denver Center for Performing Arts.

Xero is hiring in our Sales, Customer Experience and IT Operations in Denver. As we shift from an Accounting Software to a multifaceted Business Platform we are looking for smart, energetic people to help make the lives of small business owners easier.

In addition to a cool product suite and a fun environment, we offer competitive pay, work/life balance, growth opportunities and great benefits and perks that are unmatched in the industry. Check out some of our recent photos of Xero Denver’s employees at work and at play.

The Xero Denver team ski trip

Xero Denver is hiring – join the team

Xero Denver is hiring – join the team

We are looking for individuals who embody our values: #Human, #Champion, #Challenge, #Ownership, #Beautiful. Think you have what it takes to become the next Xero? Apply today!

Fun facts:

  • Denver is one of 19 global Xero offices
  • Xero has over $100M annualized revenue
  • Xero has over 1100 staff worldwide

For more, check out our careers page.

 

 

Why you need online accounting

Today’s guest author is small business and finance expert, and co-host of Sunrise, David Koch.

I’m a huge fan of new technology David Koch believes online accounting improves businessand the ease and flexibility it brings to work. I can video call in to Port Adelaide executive meetings, bring up the latest finance figures on my tablet for Sunrise and access my small business’s accounting files from the couch.

So you can understand why I’m so enthusiastic about new technology. This is also why I say that your business really needs to consider an online accounting system if it’s not using one already. Here’s why.

Peace of mind

I don’t want to scare you, but all it takes is one office disaster and your files are compromised. A dodgy employee, fire, flood or break-in and you’ve got a problem. Hard copies of old accounts are often irreplaceable, and a lot of the time businesses don’t fully recover from disasters for this reason.

Using online accounting gives your business access to the latest software and data security that’s safer than the lock on your front door. Simple as that.

Incredible convenience

Having the books in the cloud means our accountant can log in to her work without coming into the office. We can keep a finger on the pulse with staff raising invoices and expenses as they need to. It also lets everyone run project numbers when they’re on the road.
Being able to check accounts and invoices from anywhere is invaluable for businesses that aren’t office based like tradies and others on the road all the time. It’s like having an office in the palm of your hand. Continue reading ›

 

Xero reaches 200,000 customers in Australia

Xero reaches 200,000 customers in Australia

Today Xero in Australia reached another huge milestone. We have achieved over 200,000 paying small business customers.

It was just over a year ago, on 26th February 2014, that we announced that Xero AU had achieved 100,000 paying customers. So it is incredible to see that in just over 12 months we have again doubled our number of paying customers in this market.

Xero’s early commitment to a pure cloud offering that is both simple and beautifully designed is unique. This has generated incredibly strong advocacy in a market where innovation had been lacking for many years. We have always been committed to keeping innovation and simplicity at the forefront of everything we do. We proved that once again with our multi-pronged feature release last week. We have already delivered over 150 new updates to customers so far in 2015.

We are also heavily indebted to the support of our loyal accounting and bookkeeping partners in Australia. These partners are working with us to help change the accounting industry for the better. They help over 2 million small business owners be more efficient and profitable by reducing their administrative burden.

I also want to acknowledge our more than 400 innovative Add-On partners. They have built wonderful cloud software that integrates seamlessly with Xero. You guys have brought game-changing innovation to the SME sector. Not only that, you have also helped incubate a multi-million dollar cloud industry in Australia.

I can’t think of a better time in our journey and want to thank the many people who have helped us achieve this significant milestone.

 

UK Payroll now available to pay employees and report to HMRC

Following on from last weeks huge #xerospeed week, Xero with all the time-saving features you need for your business now includes payroll.

Buy or upgrade to Premium 10 before May 1st and pay just £25 per month for 12 months. This includes all the Xero features you know and love and now payroll for 10 employees. One price for all your accounting and payroll needs.

Transactions from payroll seamlessly flows through to and impact the accounts immediately – the way it should be with payroll transactions represented as journals. This impacts the Profit & Loss and Balance Sheet, reflecting the impact of the approved payroll immediately in your accounts.

Payroll in Xero was enabled earlier in the month and from April 6 you can use Xero to pay your employees and stay up to date with your tax filing and payment obligations with HMRC. RTI filings happen automatically, employees can self-service using the online employee app and lots more.

We’ve created a series of videos to help you get started in Xero U. Step through the setup process and learn more about Payroll in Xero.

You will not be able to use Payroll in Xero to manage your end of year processes for the 2014/2015 financial year. You should complete your final submission and employee P60s in your current payroll software. Continue reading ›

 

Process, Pay and File with New Zealand Payroll

Following on from the huge #xerospeed release week, Xero with all the time-saving features you need for your business now includes Payroll. From April 1st you can process your payroll and pay your employees using Xero.

Transactions from payroll seamlessly flows through to and impact the accounts immediately – the way it should be with payroll transactions represented as journals. This impacts the Profit & Loss and Balance Sheet, reflecting the impact of the approved payroll immediately in your accounts.

By using Payroll in Xero to manage payroll yourselves you stay in control of your cashflow at all times. Xero will never take money out of your account so we don’t require a letter of credit. We provide you with the bank files you need to pay your employees and information required to pay the Inland Revenue. You make these payments yourself directly.

We’ve created a series of videos to help you get started in Xero U. Step through the process and learn more about Payroll in Xero. Continue reading ›

 

Love beautiful

Love beautiful software? Our customers do.

What’s the word customers most use to describe your brand?

Don’t do any fancy research or hire any consultants. Just go listen. Listen with an ear to the words they use in the first sentence. Then keep score.

Over the past few months, I’ve chatted to hundreds of Xero customers and partners all over the world. “Like” didn’t make the top ten list. It wasn’t that they didn’t like Xero, it was that the vast majority LOVE Xero.

Love

That’s the word that was used most frequently in the first sentence. It would go something like this; “I just love Xero – it’s made me sane again”; or, “I love doing invoices right after a job”; or, “I love it – it’s just beautiful”.

Now, I know that’s all a bit rich coming from Xero’s CMO. So here’s the next step in understanding what your customers are saying. Correlate the statement to independent research and behavioral data. A friend forwarded me a piece of research from Ross Cameron, a well-recognised researcher whose latest newsletter contained this gem:

“In our most recent wave of panel interviews we asked business owners to discuss the brands that they admire. Two brands stood out – Xero and Apple. Indeed, quite a few pointed out “Xero is the Apple of accounting software!” The comments on Xero were most striking as the positive commentary bordered on the evangelical…”

Ross reported customers saying (competitor names redacted) things like: Continue reading ›