Furthermore, Xero offers efficient and easy-to-use financial reporting tools that can help you keep track of your business’ finances, monthly budget, and more, irrespective of your location.
Why choose Xero for your financial reporting?
As advocates of Xero accounting solutions, we can think of a thousand reasons why every small business owner should opt for cloud accounting instead of a traditional outsourced or in-house solution. One of these reasons would be its advanced financial reporting features, such as:
- Retrieve financial reports whenever required As an account holder, you can view and share reports and budgets in real time – gone are the days of waiting for month-end to get an update on your business’ finances. Reports can be tailored to show specific Key Performance Indicators you wish to see, for example, and can be shared directly with your advisor. Reports can also be exported as PDF’s or Excel spreadsheets, all whilst keeping the format and formulas intact.
- Customise reports to suit your business Xero reports are fully customisable and will show the updates you want to see, allowing you to grow your business effectively. Customised columns, formulas, text blocks, and drag-and-drop accounts can be created to deliver a report that suits your requirements.
- Keep track of your business’ progress With Xero, you can prepare, or import, a budget in no time, to compare your financial performance against actual or specific periods. The software incorporates a Performance dashboard for quick view of KPI performance and delivery. Specific departments can also be tracked with Xero reports. Whether you wish to track sales staff or different regions, you simply need to customise your reporting preferences.
- Compare and estimate Another useful feature in Xero’s accounting software is the function to calculate differences between columns in all your reports – this can be done between actual and budget figures, or between actuals and other actuals.
There are numerous articles and press coverage of the interest rate cuts that have happened over the recent months. It’s likely that you’ve already been benefiting them – both your...
On 24 October 2018, National Treasury published new regulations pertaining to “electronic services” defined in Section 1 of the Value Added Tax (VAT) Act of 1991. These regulations...
Earlier this month, we discussed the business rescue process and the circumstances when this would be appropriate for a business in a position of financial distress. In the case of a...