Store Your Files in Xero!

Posted by on Oct 21, 2013 in Blog, Cloud Computing, File Attachment, Start-up, Xero, Xero Advisor, Xero Consultant | 0 comments

Published in Company News, Technology on 21 October 2013 by Andrew Tokeley Today cloud accounting moves beyond transactions and reports to include files and documents as part of the full financial data picture. Welcome to Files in Xero. Traditionally, the files you create and receive as part of your business have been stored away in filing cabinets, shoe boxes or in some hidden folder on your computer. While many of these are directly related to your business, it’s not always easy to locate them when needed. With all your business data in Xero, it no longer makes sense to store your financial data and files separately – and this will make collaborating with your advisors even easier. Files lets you attach multiple documents to almost anything in Xero and have them right at your fingertips, exactly where you expect to find them. Files can be associated with invoices, transactions, expense receipts, fixed assets, contacts, chart of accounts, bank accounts and even manual journals. Xero has had single file attachments on bills and receipts for a while – but that was really only the beginning. How will Files change the way you work? What about attaching contractual documentation associated with one of your clients, loan documents for a bank account, or a picture of a fixed asset. Or even attach a photo of a client? Store company incorporation documents for easy access by your accountant or bookkeeper. If you’re a startup looking for funding or to be acquired, why not create a contracts register so you’re always ready for Due Diligence? Accountants with not-for-profits, how about encouraging them to upload their source financial documents for you to make the audit process more cost effective? Bookkeepers – win new clients by making Accounts Payable processing central to your service offering. If you’re a franchisor, ask franchisees to upload their full business reports each month so all performance information is available. We know you’ll find plenty of reasons to bring all your important business documents into Xero. We’ll let you store 1GB to begin with – that’s about 20,000 typical Word docs and enough to keep the average small business going for many years. We’ll provide for increased storage in the future. Behind the scenes we’ve worked with leading providers to deliver the same security, reliability and availability you’ve come to expect from Xero. Your files are fully encrypted and using geo-replication, are stored in multiple locations so you can rely on them being available when you need them – anywhere, at any time. You can also look forward to being able to email files directly into your Files inbox – for example, you will be able to create a forwarding rule whenever any of your suppliers email you...

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Xero Makes Leaving QuickBooks(R) Easy With Free Conversion Service

Posted by on Oct 8, 2013 in Accounting, Blog, Bookkeeping, Cloud Computing, Quickbooks, Start-up, Uncategorized, Xero, Xero Advisor, Xero Consultant | 0 comments

From Market Watch, The Wall Street Journal PRESS RELEASE Oct. 8, 2013, 8:04 a.m. EDT SAN FRANCISCO, CA, Oct 08, 2013 (Marketwired via COMTEX) — Xero, the global leader in online accounting software, today announced a free QuickBooks(R) Conversion Service to convert QuickBooks data directly into its powerful cloud accounting solution. The service untethers over four million small businesses and accounting professionals from Intuit(R) QuickBooks, providing them easy access to a disruptive five-star online accounting experience, as noted by CPA Practice Advisor. A service long in demand, Xero’s QuickBooks Conversion platform is the first service to resolve the industry hurdle of comprehensive data migration to a non-Intuit system. The service will be demonstrated nationally during an upcoming roadshow, beginning October 21 in Baltimore and spanning 20 cities over the next month. For more details on when Xero will be in your town, visit Continue to full article at Market Watch, The Wall Street Journal   ____________     submitted by:   Suzy Payne Rabb Xero Certified Advisor New Day Consulting Group...

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Free Xero Setup for One New Startup

Posted by on Oct 6, 2013 in Accounting, Blog, Bookkeeping, Cloud Computing, Start-up, Xero, Xero Advisor, Xero Consultant | 0 comments

This month we are offering to setup Xero for one new startup business for free. (Please share this post.) Are you a startup business in need of a modern approach for accounting and management needs? Do you want instant access to your books from anywhere via smartphone, pad or computer? Do you want to collaborate easily with your accountant and others on your team without having multiple copies of your company data in circulation? Do you want to avoid the upfront time/cost of setting up and maintaining a computer network, desktop software? Do you need up-to-the-moment financial and management reporting to run your business successfully? If you answered yes to one or more, Xero may be a good fit for your business. Xero was built from the ground up to work in the cloud and is one of the most popular cloud accounting solutions today. Easy to use, easy to keep your books up to date and accessible from anywhere, Xero allows unlimited users at one low monthly cost and no up front costs, contracts. Your whole team can be up and going on Xero in less time, at less cost than you could ever imagine. So if you are starting a business now or in the near future, get started right and register here for free setup help. (Offer limited to new startups in the US, with little or no transaction activity.) First Name Last Name Email...

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Eye on Xero: Cash Summary Report Review

Posted by on Sep 22, 2013 in Accounting, Blog, Bookkeeping, Cash Flow, Cloud Computing, Xero, Xero Advisor, Xero Consultant | 0 comments

By Suzy Payne Rabb   “How can my income statement show I made a profit, when I have no cash?” If I had a nickel for every time I’ve heard this question, I could fill a gallon jar. In the past, I would explain that cash can be used for many things other than the business expenses that show up on the income statement. Cash might be used to invest in assets, payoff of debt or may be distributed directly to the owner or partners in the form of a draw or distribution. These items don’t show up on the income statement, but definitely draw down the cash balance.   The Statement of Cash Flows The Statement of Cash Flows is a primary financial statement and available in most accounting software solutions. This statement shows how changes in the balance sheet accounts and income affect cash, and breaks the analysis down to operating, investing, and financing activities. Essentially, the cash flow statement presents the movement of cash in and out of the business. The statement captures both the current operating results and the accompanying changes in the balance sheet and should be the report to answer the question. The major problem I’ve seen is that not many business owners use or understand the format of the standard Statement of Cash Flows. While every owner or manager has an interest in where the cash is coming from and going, most find the standard layout difficult to follow and I get it. Here is an example of the standard layout.   Xero’s Cash Summary Report Xero provides a simple Cash Summary Report that is essentially a cash basis income statement, together with some additional sections to show all the other movements of cash by GL account. Simple, direct and far easier for most users to understand. Most small business accounting solutions do not offer such a report. Don’t get me wrong, I still want a Statement of Cash Flows. I just prefer Xero’s Cash Summary report to show the owner exactly where the cash is going. I give Xero’s Cash Summary Report an A++! Schedule a free consultation to learn more about Xero. Suzy Payne Rabb BBA/Accounting Xero Certified Advisor New Day Consulting Group 512.892.8990...

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What the Hell is… the Cloud?

Posted by on Sep 19, 2013 in Blog, Cloud Computing, Xero | 0 comments

From Linkedin by Bernard Marr, Best-Selling Author and Enterprise Performance Expert   The cloud, or cloud computing, is not new but it remains a major buzzword in the business and technology world. I would assume that most people know by now what we mean when we say things like: “Simply stick it in the cloud” or “Back up to the cloud”. However, I recently gave a presentation about Big Data (another one of these buzzwords) to a large business conference and in my discussions afterwards was surprised how many people were not really clear what cloud computing was. So, I promised to write a very short and clear outline of what it is. Here we go. Cloud computing basically refers to two things: Storing data outside your computer (or phone). Performing computing tasks using software and applications that are not installed on your computer (or phone). Instead of storing or computing things on your own machine, we use other computers that are connected to our computer via a network (such as the Internet). Let’s look at some examples to make this even clearer: If you back up your documents and photos over the Internet using services such as Dropbox or Google Drive then they will be stored in the cloud – meaning they are sent via a network to a server (which can be anywhere in the world) where your documents will be stored. If you are an iPhone user and have enabled iCloud, then your photos, apps, music etc. will be backed up to a computer managed by Apple. The data will be transferred to that outside computer using the Internet. If you are using services such as Gmail, Yahoo or Microsoft Exchange Online for your emails, then you are basically a cloud-computing user. These software applications are not installed on your computer but you are using them over the Internet. If you use Facebook, Twitter or LinkedIn, then you are also a cloud-computing user. These services are provided via the internet and your up-dates, photos, videos, etc. are stored on their computers. This means, cloud computing enables us to increase our storage capacity without the need to buy new hardware. And it enables us to use applications or access music, TV programmes, etc. on demand, via the Internet. The same applies to companies. If companies want to increase their storage, they can simply move their data to the cloud. This is often a more cost effective solution than buying and maintaining their own data storage facilities. When it comes to software, the same applies. Instead of purchasing software licences, companies can use SAAS providers. SAAS stands for ‘Software as a Service’ and in principle works in the...

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