It’s no surprise many businesses rely on Xero to keep their books. It helps manage quotes and proposals, invoicing, accounts payable, accounts receivable and more, all from an intuitive interface. But if you need advanced functionality like inventory, fixed asset, budgeting, etc., as your business expands, then you have to use add-ons which add to the monthly cost. Hence, beyond a certain point you have to look at other options.
Pros:
It is cloud-based web software. It offers It’s also very clean and aesthetically dashboard. And indeed very easy to set up, with just a few clicks, you are ready to go. All in all a great product for small businesses.
Cons:
But it’s lacking inventory and budgeting, These are best handled with apps. That’s another add-on cost. Also, you have to keep your payroll separate. So it’s great for small businesses, but not so good for growing business.
What to do?
Try before you buy it, just take the advantage of free trial. And understand the features of Xero as per your requirements. You might also want to check with your CPA or tax professional and test some of your more unusual company issues.
At certain point of time, if required outsource your accounting and bookkeeping requirements. Because, it would be cheaper option as compared to buying the add-on apps. Also, it allows you to get the customized service as per your company’s needs. Do send us an email atinfo@corientbs.com to know more about outsourcing benefits you can get.
Author: Sachin Lohade is a Chartered Accountant and works with Accounting Firms to improve practice and reduce costs. He can be reached out at sachin@corientbs.com or you can visithttp://www.corientbs.co.uk
No comments:
Post a Comment