It is often difficult for business owners to cross the divide of working on your business, rather than working in your business. Although this is usually due to several reasons, technology presents a good place from which to start this journey, since the smart employment of technology can allow you to free up valuable time.
When it comes to the financial function for instance, we recommend Xero as a preferred accounting solution. Here are some of the ways in which your time can be freed up using Xero:
There are also further Xero add-ons that can be utilised to effect time savings.
One such add-on is Receipt Bank, which can be used to automate the capturing of suppliers’ invoices and receipts through optical character recognition. By setting up rules for suppliers, transactions can be automatically published without having to manually update this every time.
Another handy add-on is SimplePay, an online payroll system, which can be set up to post a salary journal to Xero after processing of salaries.