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Xero Cloud Accounting

  • Xero Platinum Partner & Hong Kong Accounting Partner of the Year
  • Helping Small businesses and SMEs with Xero implementation since 2013
  • Licensed CPA firm providing end to end solutions from bookkeeping,
    annual audit report, digital integration, and training using Xero
  • Xero Platinum Partner & Hong Kong Accounting Partner of the Year
  • Helping Small businesses and SMEs with Xero implementation since 2013
  • Licensed CPA firm providing end to end solutions from bookkeeping,
    annual audit report, digital integration, and training using Xero

Why Choose Xero Accounting Software?

 

Unlike traditional desktop accounting software, Xero is a cloud-based software that allows users to handle bookkeeping, invoicing, and payroll anytime and anywhere through different devices.


Xero allows businesses to connect with their banks for direct transaction feed, which saves administrative time and ensures the accuracy of financial information.

 

 

 

FastLane is a Certified Xero Platinum partner with vast experience in helping businesses
set up Xero as an accounting system across different industries.


 

 

How Can FastLane Help?

As a Xero Certified Advisor and Platinum Partner,
FastLane can offer a range of services that will let you get the most out of Xero.

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Xero Training

Training with professionals allows you to be familiar with
using Xero in your business operations. We simplify
the use of Xero through our training and provide you
with support after the completion of the Xero training.

Xero Implementation

We provide a tailor-made implementation process
by customizing the features that are specific to your business.
Our Xero implementation process will ensure you
have a seamless experience in using Xero.

Xero Health Check

With our Xero health check plan, we ensure that
your bookkeeping meets accounting standards.
This will ensure the accuracy of your financial reports
and help you make more informed decisions.

Xero Accounting Outsourcing

You can now focus on more key business activities and
have the professionals handle your accounting operations.
We offer monthly, quarterly, bi-annual and
annual bookkeeping plans.

Xero Accounting Catch-up

Do you need to handle your bookkeeping using Xero
after your financial year comes to an end? Then
our accounting catch-up plan is what you need.
This service ensures your financial information is
organized, accurate, and ready for annual audits.

Xero Integration with Other Cloud Solutions

Xero integrates with more than 2,0000 applications to ensure
that small businesses enjoy a simplified accounting process.
We can help you customize your user experience
by integrating with other online accounting solutions,
which provide more efficient ways to handle manual tasks.

 

 

Xero-based Audit Engagement

You don’t need to move the paper around with
our Xero audit engagement. You will find the annual audit
and taxation process is seamless and time-efficient.

 

FastLane Clients See Result Like These…

Xero Cloud Accounting Software in Hong Kong | FastLane

With the analysis that comes with Xero, we’ve realized that we were spending so little and were actually making quite a lot. We did not picture that we could hire this fast, but now that we have access to more up-to-date information, we can now move forward with plans that were initially not possible!

Daniel Lau & Kobi Tollitt, Eleven Digital

Xero Cloud Accounting Software in Hong Kong | FastLane

Read the full story


Xero Cloud Accounting Software in Hong Kong | FastLane

“Having never received accounting training, I found Xero to be the perfect tool because of its user friendliness and accessibility. Xero also makes collaboration easier with our accounting firm, FastLane. Since both parties have access to our Xero account, FastLane can easily advise Dedicare on their accounting, audit and taxation matters”

Dr. Brian Chung, Dedicare

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Read the full story


Xero Cloud Accounting Software in Hong Kong | FastLane

“We rely heavily on Xero’s automated bank feeds for our data-entry tasks. The platform is even able to auto-generate whatever financial reports we need, as we need them! I think from an efficiency perspective, Xero is really helpful. Time saved is money saved.”

Calista Hung, VOTEE

Xero Cloud Accounting Software in Hong Kong | FastLane

Read the full story


Xero Cloud Accounting Software in Hong Kong | FastLane

Handling traditional bookkeeping and audit for many years. I cannot believe using Xero can make the process so much easier and faster. I no longer need to bring all physical documents around and have useful accounting reports anytime anywhere when logging into Xero. Thanks FastLane.”

Frankie Yiu, Central Japanese Club Limited

Xero Cloud Accounting Software in Hong Kong | FastLane

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We offer a unique delivery model with technology that enables us to provide an unrivalled service which has successfully supported more than five hundred companies.

Discover the Features You Need to Run Your Business

With Xero, businesses can create template agreements, invoice clients right away while making it easy for them to settle their payments, and even provide business owners with features that will allow them to follow up on any outstanding invoice! By automating many business processes, business owners will have the freedom to refocus their energy on the key revenue-driving activities that will help grow their business!

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Direct Bank Feeds

Xero connects to your bank and automatically reconciles the information so you can keep track of how your money flows 

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Easy Invoicing

Keep your cash flow healthy by sending online invoices with multiple payment options

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Multi-currency Support

Automatically track your gains and losses across multiple currency

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Extensive Integration

Xero’s ecosystem provides access 800+ third party business applications, like inventory and time tracking tools, letting you build a platform perfectly suited to your business needs

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Pay Your Employees

With payroll and accounting as one, it’s easy to process your payroll and pay superannuation. Your payroll information is automatically updated into the general ledger

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Invite Others

Invite your team members and accountants to work with you – by sharing a single data set on Xero makes collaboration easier

Is Xero the Right Choice for Your Business?

There are many factors that influence a business’ decision to adopt a cloud-based accounting platform. As a business owner, if you ever find yourself and your business experiencing these signs, it may be a good indication that it’s time to embrace digital transformation and give cloud-based accounting systems a try!

  • You have to enter accounting transactions manually
  • All your financial information is spread across different platforms
  • Your business does not have a system in place to ensure that your financial information is backed up on a routine basis
  • Security and privacy are one of your top priorities
  • Your business has multiple individuals who need access to confidential financial information

Power-up with Xero Connected Apps for Your Business

With 800+ third-party apps that can be integrated with Xero, you can tailor-make your Xero experience as you see fit! As a Xero Platinum Partner, we can help you integrate your Xero account with the following apps:

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Ready to Start?

Contact the FastLane Group to learn more about what plan is most appropriate for you!

FAQs

1. How does Cloud Accounting work?


To sum up, cloud accounting means storing and accessing accounting data over the internet and online software instead of one’s computer. Since the software is hosted in a remote server, it does not solely rely on a hard drive therefore it results in a safer choice for accountants or business owners. People can add or adjust data through an online platform with instant updates on all devices. There are also some other very popular usages of cloud computing such as google drive, dropbox, and Apple iCloud. 

 

2. What are the benefits of cloud accounting software?


Software Keep Update

Technology is evolving every day, including clouding software. When you are always able to work with the latest version of the software since they update automatically, you can utilize the latest technologies or features to improve your workflow.


Easy to access

As long as you have an internet connection, you can connect to cloud accounting software anytime. It makes your team have greater flexibility in working with your operations.


Reduce manual tasks

Cloud accounting software like Xero usually has integrations or bank feed functions that allow you to import transaction data safely from the bank to your cloud software. It reduces time in manual data entry as well as the reconciliation process.


Generate Reports instantly

Generating financial statements are no longer a problem for cloud accounting users. You can have your financial reports instantly with your software to comply with accounting standards.

 

3. What are the problems with traditional accounting software?


Huge Storage Cost

With the fact that data need to be stored in a local drive or in physical copies, there are great risks in terms of storage and transfer of data. And once the data is lost, there are huge costs to recover.


Limited people have the access

Since only a few computers have the software, very few people are able to get access to the accounting software which makes accounting work more inefficient in terms of collaboration and transparency.


Not able to adapt company growth

Given the software will not update automatically, the original software may not be able to manage the scaling business. The software then becomes a burden for the company instead of a tool.

 

4. What are some business processes that Xero can improve on?


Business owners who adopt Xero primarily do so because they want to make use of a business tool that will make running their business easier. Xero offers a simpler and more efficient way of managing some of the most tedious business processes out there, such as managing the invoicing of clients.

With Xero, businesses can create template agreements, invoice clients right away while making it easy for them to settle their payments, and even provide business owners with features that will allow them to follow up on any outstanding invoice! By automating many business processes, business owners will have the freedom to refocus their energy on the key revenue-driving activities that will help grow their business!

 

 

5. What factors should I consider when transitioning to Xero?


Once you have made the decision to move your business to a cloud accounting system like Xero, you have to take into consideration what this transition would look like. The following are factors to consider that can help smoothen the adoption of Xero:

 

  • Is it necessary to migrate all the financial information of my business? 

     

    Many businesses often want to migrate all of their historical data from their old accounting platform onto Xero. However, to the extent that all the financial data of a business is already backed up and accessible, large data migration may not be necessary. Because this is a task that needs to be balanced with time and cost, sometimes it will be best to limit the migration of information to just what a business needs to meet its statutory record-keeping obligations. In these circumstances, it would be best to discuss these issues with your accountant!

 

  • Should you work with a professional accounting firm to smoothen the process of adopting a cloud accounting system?

    A common issue that a business experiences when moving to a cloud accounting system is that their financial information may require formatting in order to be successfully imported into Xero. Not only can this task be time-consuming, but it can also be complex. If a business decides to simply migrate its closing balances, a professional accounting firm may not be necessary for the purpose of getting started on Xero. However, if a business decides they want to migrate all their information, then working with a professional accounting firm can guarantee that no complications will arise during this exercise.

 

  • When do you want to complete this transition by?

    Choosing when to start your business on a new online accounting platform is much easier than you think – depending on your requirements, you can start either on a new month or a new fiscal year. If you don’t need to port all your data over from your old accounting platform, simply bring across your closing balances: it’s a clean break.

 

  • How will my team adjust to this change?

    The physical change from using one accounting system to Xero is also accompanied with a mindset change for those who will have to use this new system. Business owners need to give their staff enough time to familiarize themselves with Xero by establishing a timeline and providing clear instructions on how to use the platform. Doing so can minimize the occurrence of any accounting issues going forward that arise from a lack of familiarity.

    For those who are engaging a professional accounting firm to help facilitate this transition, ask them if they can host any training sessions! 

 

  • What other integrations will your business need?

    Businesses all have different needs and will use different business tools to address their everyday challenges. Ensuring that all these different tools can work together can often enhance the core capabilities of a business whilst increasing the accuracy of the information utilized. If there is a specific business tool that your business needs, check first to see if it integrates with Xero here. If your desired tool doesn’t integrate, then you can also consider the variety of options all found on Xero’s App Marketplace to see if there is a suitable alternative!

What can FastLane Do for You?



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