3 Reasons Why Xero Should be Part of Your Business DNA!
Author: Sam Hart. Senior Digital Manager at LHP
As a modern cloud accountancy practice and Xero Platinum Partner, Xero is definitely part of our DNA at LHP. We’ve over 1,500 clients on Xero currently and that number is growing fast as people are switching to online accounts in line with mandatory government initiative Making Tax Digital to modernise income tax. If you haven’t yet switched to digital accounts this blog is for you.
During Covid it was key for clients to have an instant view of their business (with cloud accounting) so they could access funds and banking decisions could be made easily, plus to have a handle on the business during a time of great flux. So those already on Xero were at an advantage over paper-based businesses.
Here are three main reasons why Xero is part of our DNA and should be part of yours…
- Xero is often an instant fit – with all the benefits of cloud
Xero is the most popular cloud package we use here as it fits most business needs best and configures into a tailored package to suit individual client need. That’s not to say we don’t sometimes recommend other packages.
Often clients rock up with boxes of paperwork quite used to the fact that they don’t have a view on their current finances. We quickly explain the benefits of Xero cloud. Automation; cutting down on manual admin tasks to free up your time. Insight; with a real-time view of finances. Scalability; easy to plan and grow with no historical data.
2. Xero has value-added products and features
Xero has a suite of products and features that deliver value-added service. Popular ones help us to manage client accounts such as VAT deadlines, preparing working papers, delivering payroll and supporting specialist industry rules. Some clients want help doing their accounts, others are happy we do it for them to free up even more time.
Xero HQ enables us a view of outstanding VAT returns, key for those signed up to Making Tax Digital deadlines. Xero Workpapers prepares working papers, where you can jump on supporting documents on the go. Xero Payroll helps clients do payroll. LHP has expertise to support clients with payroll. Xero CIS allows construction clients to file monthly returns easily.
3. Xero integrates with lots of third-party apps
When putting a package together we consider apps that can make clients’ lives easier. We’ve clients using ApprovalMax, A2X, Expandly, EPOS Now, Figured, Go Cardless, BrightPay, Zettle, Square, Zapier, Xavier, Soldo, Chaser, Pleo, Starling, Monzo – and more.
These integrations do various things specific to sector, company size and functionality. Construction businesses may require an integration to submit CIS records. Retail businesses may benefit from a stock system app to monitor stock levels and a function for taking card payments. Farmers may need to see all financial, stock and crop information in one place, in real time.
One app we offer to all our clients is Dext – free of charge, alongside Xero. This enables time savings as we don’t need to wait for paperwork to be dropped off at the office and is less for the business owner to do too. Dext’s supplier rules allow us to generate rules for each supplier making the processing quicker, freeing up time for advisory work with our clients.
From ‘out of the box’ solutions to complex customisation and training, at LHP we’ve over 1,500 active Xero subscribers. If you wish to move to digital accounts or want to learn more, please don’t hesitate to contact our team of cloud specialists. Let’s Talk.