In the world today, the need to adapt and evolve has been driven to the forefront of businesses with most needing to adjust to new ways of operating.
It is more important now than ever to have accounting software that enables you to stay in control of what is going in and out of your business, has the ability for you and your team to access your financial information remotely, and saves time on processing and data entry tasks, allowing more time to focus on the important parts of your business.
There are countless accounting software options out there with vast variances in function, form and cost.
At Lambourne Partners, we are strong advocates of Xero, a sophisticated – yet user-friendly cloud-based accounting platform that will streamline your processes. It also now comes with a free subscription to expense management tool Hubdoc.
Here are some of the key features and benefits of Xero and Hubdoc for your business.
Even those not native to accounting and bookkeeping will find the functions logical and the terminology easy to understand. Xero also has powerful reporting capabilities, giving you a clear overview of your business and allows you to customise reports for easy monitoring of your accounts.
Automatic bank feeds take the stress out of managing your bank transactions and allow you to reconcile daily so that your accounts provide an accurate, up-to-date picture of your financial situation. Bank rules and suggested matches streamline the reconciling process. Xero knows when a deposit is a payment against an invoice, when money leaving your account is for a bill, and it remembers when you have classified a similar transaction before.
Access anytime, anywhere
Xero is cloud-based accounting software and therefore is available anywhere and at any time using a computer or mobile phone with internet access. This also means we (with your permission) can access your data allowing us to troubleshoot, provide advice, and complete your work more efficiently than ever before (no more thumb drives, emailing files or file sharing required) saving you both time and money.
Say goodbye to filing cabinets and archive boxes
Hubdoc stores your suppliers’ invoices, receipts and financial documents, and publishes them directly into Xero. This keeps your business compliant with requirements for 5-year storage of all purchase invoices, it removes the need for the filing cabinets and archive boxes, and allows you to have all your documents stored and organised in one place.
Integration with Xero
Once receipts and bills have been uploaded into Hubdoc (which can be done via the mobile app, email, drag and drop functionality, or automatically fetched from over 700 online vendors), the key data is automatically extracted and synched to Xero as accurately coded transactions with source documents attached. Xero then matches these transactions to the bank feed for a one-click reconciliation.
How We Can Help
Lambourne Partners can assist your business with a seamless transition from your existing accounting software to Xero and Hubdoc. There will be minimal disruption from the implementation, plus ongoing follow-up advice and assistance, and training with our specialists in Xero and Hubdoc (in-house or remote, depending on your preference or lockdown restrictions).
Simply contact us below, or if you’re an existing client just enquire with your advisor.