- Introduction to Xero
In this section of the course, we will start by introducing Xero and explaining why it is making a difference to small business bookkeeping.
What is Xero?
Xero is a fully-featured bookkeeping solution for small businesses and by far the best on the market at the moment.
It is cloud-based which means you can log onto your own accounts by going to www.xero.com
If you haven’t seen Xero yet it can be best illustrated by this video:
Why is it making a difference?
The difference Xero makes depends on who you are:
Accountants – can now log into your financials, in real-time, and this means decisions about the business can be made based on up-to-date numbers.
Business Owners – In the past, there was a disconnect between business owners and their own finances mainly because the software was locked away on a PC and was not accessible but Xero has made the numbers accessible, and with their smartphone app literally available at your finger tips.
Your Team – Different members of the team can now share information, for example, you can give read-only access to the bank manager, sales invoices only access to the sales team and with Xero Payroll every member of staff can get access to their payslips. There are unlimited users on Xero so collaboration is even easier.
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2.Logging on and layout
