Xero.com Makes Financial Management Sexy

So while, I adore reviewing a P&L statement or perusing break-even analysis reports I didn’t want to grind through the tedious back-office administrative work to get there.

Financial management is a vital part of a startups growth and longevity — many fail due to mismanagement of funds or lack thereof.  Many entrepreneurs never truly embrace accounting.

They’d rather focus on strategic growth, tactical execution and growing a businesses organically. However, accounting and financial management is a necessary evil for all startups that want to be “and stay” in business.

When I first got started in business, I utilized QuickBooks and knew of others that adored Peachtree. I quickly realized that bean counting wasn’t my favorite past time. Therefore, I sought out ways to lighten the load and increase productivity elsewhere.

Most entrepreneurs are ‘big picture thinkers’ … visionaries. So while, I adore reviewing a P&L statement or perusing break-even analysis reports I didn’t want to grind through the tedious back-office administrative work to get there.

This doesn’t mean you should be clueless about your cash flow – you should in fact watch it like a hawk. What it means is – focus on your strengths and find other individuals, processes and applications that you can leverage.

The other day I was dreaming that I would one day find an accounting software that fit an internet savvy, new technology, early adapter’s lifestyle – and have a clean, smart and simple interface.

My prayers have been answered (the sky is parting). I stumbled upon Xero.com (and man does this company make accounting sexy). It does things I wished Freshbooks could do – it makes accounting so much easier. So when you sync up with a virtual assistant there is no real learning curve – a 2 year old could maneuver this application.

Xero is an online accounting system designed for small businesses and their advisers. It’s simple, smart and secure. In a nutshell it gives you an over-arching view of your business in a simple & clean dashboard.

Here are some additional reasons why I love Xero.com:

 

  • Access accounts and run your business from anywhere in the world on a PC, Mac or mobile device.

  • A real-time view of your business at a glance with a snapshot of all your transactions.

  • Easy bank reconciliation keeps your accounts accurate and up to date. Automatic bank feeds get your transactions in to Xero.

  • Manage the individuals and organizations you do business with and have them easily appear in invoices and transactions.

  • Get a single view of where your money is coming from and when. Create, send, receive and report on invoices all from one place.

  • View and manage how much money you owe, what’s overdue and what’s waiting payment.

  • Easily enter and manage personal expenditures.

  • Generate and view interactive reports in real-time, anytime. Your financial advisers can also create and publish reports for you.

  • And for my amazing Accountant – a full accrual accounting system which automates and simplifies your day-to-day bookkeeping.

  • Lastly, you can sign-up for free and use the free demo instantly.

 

Let me know what you think about it or if you’ve run across any competitors that give Xero.com a run for their money.

 

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