Xero Accounting Singapore & why we prefer online accounting software – There are many accounting software available in the market right now. Everyone wants to come up with a great accounting software so that they can take advantage of the market and becoming the dominant one in use. Online accounting Singapore software has become one of the leading items in Singapore to be used by many business owners. Usually the younger business owners and startups will lead the charge in the usage of online accounting software, but as time goes by, more people see the usefulness of such software and will also start taking up the usage of this software in Singapore.
Xero Singapore is one of the leaders in cloud accounting software in Singapore right now. Xero is a new age accounting software that is slowly taking the country by storm. They have quite a number of good features that make running a business with this software a very easy and flexible one.
Running a business in Singapore is not easy, the market is small and the competition is tough. Other than competing on price, the time and the service needs to be tip top so that you can keep and maintain the customers and they will be able to stick with you for a long term.
Xero Accounting helps us to achieve this by having quite a number of advantages that sets you apart from your competition in Singapore. For vendors to provide cheap accounting services singapore, there needs to be some form of time saving on the end of the software. Software not only can help you to save time and effort, it also makes your life easier by giving you important data on the go and also having the data sorted out for you with some help of artificial intelligence. This makes the business of running a company easier and at the same time the business of doing accounting services singapore work easy as well.
Xero has a few strength that we will to share with you right now:
Firstly the most important thing about this software is the fact that it is online based. Online software are easily accessible from anywhere you are. You might be on the go in the taxi and trying to send a quotation or invoice to your client right after meeting. You might be an entrepreneur taking a short break and wanting to just quickly check how things are doing in your business. The fact that the software is online based allows you to reach out to your phone or laptop and check up your information from the convenience of where you are! You can laze on the beach and use the phone application to check your accounting information and go back to lazing on the beach. This is one of the key advantages of being free from the computer and being able to get things done which is what most start up founders will prefer to have this kind of freedom!
Secondly, there are usage of artificial intelligence in this software that helps you to save precious time that you can be using for other purposes. The artificial intelligence portion or AI as it is called is able to assist you in getting your bank reconciliation work half done by the system. The system learns from your previous work and also with the usage of similar dates and figures to guess if that item is what it is in the accounting system. This helps you to not only save some time on trying to find the figure on the bank statement. It also helps you to make it easy to visualize and see the data. The banks that have been tied up with XERO over the years are the Development Bank of Singapore (DBS), Overseas Chinese Bank Corporation (OCBC), United Overseas Bank (UOB), Commerce International Merchant Bankers (CIMB) and Maybank. The information from your bank account will be pushed into the software and it will be able to show what transactions you have made the day prior. It saves you a lot of time and hassle and we all know that bank reconciliation can be one of the most time consuming work that you can do for your accounting work.
Lastly, Xero is cheap to afford for most small businesses and startups. At 30usd a month, you get access to many features that you might expect to pay thousands of dollars for. You need not shell out thousands of dollars for a software package anymore and instead be able to get access using a subscription model. This model helps you to keep access and also Xero will provide updates as and when they have new developments in their bank end with no down time!
Our associate K Cloud Accounting is a Silver XERO Partner Singapore. If you’re keen to work on getting some advise from Singapore Xero Advisor, do contact them to find out how they can work with you to deliver high quality work for your business using this software that has been working really well with the businesses in Singapore.
We are glad to work closely with you for payroll related work in Singapore with our many years of experience in this line of doing payroll services work. We look forward to hearing from you and also to be able to help you with your outsourcing of services needs.
Xero Accounting Singapore & why we prefer online accounting software