Xero Cloud Accounting

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!

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 needs 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:

Flexible Pricing

Xero offers various monthly pricing plans. By only paying for what’s needed, Xero users can utilize a platform that grows alongside their business.

Ready to Start?

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

Frequently Asked Questions

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!

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, a 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 their 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 their 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!