Other than accountants, that is.
We at F5 Accounting are on the leading edge of “beautiful accounting”! We are proud to say that we have recently become one of the first firms locally to become Xero certified consultants.
What is Xero and why is it beautiful?
We are firm believers in cloud based technology. In our experience we find that it is less expensive to maintain and gives you security that you cannot always get with desktop software. Although you are paying a monthly fee to either host or use the software, you have eliminated the need to buy a server, possibly upgrades to the software and an IT person to install it. It also allows for remote access to your financial information. Additionally, you always have backups so you never lose your data. Naturally, you have to pick your hosting company carefully to insure that this is the case.
Xero is different.
You are not paying a hosting company to host the software; Xero is an on-line accounting software product. Founded in New Zealand, Xero has recently entered the United States market and is growing leaps and bounds. It’s been called the “Apple of Accounting” and is funded by heavy-weights such as Peter Thiel, co-founder of PayPal.
Xero has a beautifully designed user interface that appeals to entrepreneurs that are creative but not necessarily in the financial area. It sports a clean dashboard of important small business numbers like cash balances, get-to-the-point reporting, and intelligent bank feeds that almost code themselves.
We like Xero because it allows for collaboration with your financial advisor – F5 Accounting. We can monitor your financial information, you can leave us notes within the application and the software currently allows for unlimited users. Also, your financial advisor can spend more time advising you on the numbers and less time on data entry. This saves you money because we can work on a higher level – helping you grow your business.
As much as we think Xero is beautiful accounting, it is not for every type of business. The Xero interface is especially appealing to entrepreneurs and business owners who aren’t accounting savy but know it’s important to have a handle on day to day operations in their business. Here are just a few of the types of businesses that use it: graphics designers, ad agencies, startups of all kinds, personal care business owners, technology businesses and many more B2B and B2C businesses.