You can also give users different level of access rights depending on what they need to do. If you are comfortable with internet banking security, you can also be comfortable with Xero Q: Who can access my file?Ī) Xero allows multiuser access to anyone that you ‘invite’ to your company. The security platform is the same as that used by internet banking. Q: How secure is my data file?Ī) Xero has never lost any client data! In my experience clients occasionally will lose data through a data file stored on a client’s own computer, due to computer crashing and errors in the data. There are a few common questions that arise when speaking to clients about Xero. This means no more issues backing up and sending a data file to the accountant or between home and work. Because your data file is online, you or your accountant can access the file from wherever you are (as long as you have internet access). Multiuser and multisite access to data file.As payments and deposits go through the bank account Xero matches these against invoices or Bills that you have processed through the software, for further processing efficiency. You can set up automatic coding rules to automate and speed up the processing of the transactions imported through the bank data feeds. This means huge time savings in data entry. Xero allows your bank statement transactions to be automatically imported into your accounting file on a daily basis. However the past few years has seen a seismic shift to Cloud accounting.įor those business owners not aware of Xero or similar online accounting solutions, I thought it would be helpful to outline a few of the benefits and answer some common questions. Historically the most common business accounting software for small business was MYOB or Quicken. If youre in business, you should be aware of the changing nature of accounting software.
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