Xero Summary: One of the world’s most popular and reliable cloud-based accounting software.

Xero is a cloud-based accounting software tailor-made for small to medium-sized businesses, accountants, bookkeepers, and financial advisors. This tool has handy features like e-invoicing, inventory management, bill payments, dashboards for easy tracking, bank connections, and expense claims.

One of the coolest things about Xero is it’s cloud-based. This means you can tap into your financial data whenever you need it, wherever you are, on any device. Plus, sharing vital information with your team, clients, or advisors is easy. To make it even more convenient, Xero offers a mobile app so you can tackle your accounting tasks on the move.


Key Features of Xero

With Xero, you can streamline your financial management and do faster, more efficient tasks such as:

  • Syncing Xero with your bank account to pull in your business transactions and settle your books easily at each day’s end.
  • Sending e-invoices that are customisable, tracked, and come with online payment options. Xero even helps you send your clients automated reminders, bulk invoices, and lets you know when an invoice is opened and paid.
  • Recording, tracking, and managing employee expenses like travel costs, meals, or mobile expenses is a breeze. Xero also lets you associate an expense to a particular client or project, so it’s easy to adjust in the next billing cycle.
  • Getting a quick snapshot of your key financial metrics using a customisable dashboard. From monitoring your cash flows to managing pending invoices and viewing your bank, credit card, and PayPal transactions, everything is right there. But it doesn’t stop there, you can dive deeper into each area for more detail, create custom reports, and share these with anyone who needs to see them.
  • Paying your bills is easier with Xero since it allows you to schedule and group payments. Meanwhile, you’re always aware of upcoming bills and purchase orders, ensuring timely payments.

The icing on the cake is that Xero is compliant with the IRAS (Inland Revenue Authority of Singapore) which simplifies the process of filing annual returns.