If you’re starting your own agency, business or just starting to freelance for yourself, you need to do it correctly. The very, very first thing you need to do is make sure you set up your account keeping! It couldn’t be more important.
Xero Accounting Software
There’s a handful of powerful accounting solutions on the cloud these days. All of them offer a similar suite of tools to completely manage your business. What does your business need? Well, I can only speak from experience, so what do I need for my freelance agency?
Quoting & Invoicing
Say goodbye to sending emails to quote your clients. I do all of my quoting and invoicing through my accounting software. It saves doubling up on the work, it makes it easier to track payments and chase up your late payments! Also, it’s all based in multi-currency – meaning you can invoice your clients in New Zealand, Australia, the US or wherever else your clients reside!
Track Your Expenses
I’m the worst person at tracking my expenses. So I’m happy that I can sync up my business bank accounts and import in the transactions, plus send my receipts through so it’s all there for tax time. All you need to do, is review your transactions and then approve or exclude these transactions. It’s that simple to manage your cashflow.
Payroll & Pay runs
I don’t have staff, but you might. I’ve worked for corporations that used Xero to pay me; so I know it works. I’m sure it’s gotten even better since then, too. I know for a fact it can handle tricky things like personal leave, sick leave, superannuation (if you’re Australian, Australia’s mandatory retirement payments) and taxation. I’m excited to grow my business and hire staff so I can try it out for myself.
Manage your Customers & Inventory
Built into Xero is inventory management. That’s not something small, that’s massive. Manage your inventory and stock easily is something that 20 years ago was a huge endeavour (it still is, but so much easier). If Xero can do this, it can also manage your customers. It’s amazing.
This is probably the most important aspect for many businesses. I am working on a client software project where we are integrating their application with their accounting software to handle all payments, invoicing and CRM. Who would have guessed that software like Xero would be able to do this? Well they can. It’s impressive; more so, it’s impressive that they have over 500 integrations with other apps and technologies to make your business streamlined.
My decision for software always comes down to pricing. So here’s the latest offers I could find from Xero, if you’re interested. If you’re based in the UK, you can Get 50% off Xero + Free Payroll.
If you’re US based, I found a link for you to Take advantage of the offer Xero are making for 30% off for the first 6 months. I’m a stickler for discounts. That’s often my deciding factor deciding between SaaS – I know, that’s silly!