In an earlier blog, we looked at the benefits of Xero for property portfolios, and now we’re looking at the benefits of Xero for creative and media businesses.
Once you’ve learned your way around the Xero dashboard, you’ll be able to do all sorts of things, from saving yourself from endless admin to viewing your financial data in real time.
Here’s how Xero can help creative and media businesses.
Secure mobile access at any time
Online accounting is carried out entirely in the cloud, as opposed to desktop-based systems. That means if your data is on the cloud, you’re able to see it at any time from any device that supports Xero, including your smartphone.
There’s no software application to download or update, or costly IT infrastructure to maintain. Instead, you just login and work from your device. The only other thing you need is wifi.
That’s incredibly beneficial for creative people who are on the move, perhaps to meet a client or travel to a shoot location. Need to authorise a payment but on the other side of town to your office? Just use the app on your phone. Just got a receipt that you need to keep a hold of for your expenses? Scan it there and then with the Xero app and the financial data will be copied across.
Don’t worry, though – your data and records are all safely encrypted and stored on a cloud server. Cloud accounting is as safe as safe can be.
Saving you time
One of the biggest benefits of Xero for creative and media businesses is the time it can hand you back time. For creative businesses, that’s essential.
Bank reconciliation is one of the greatest hassles of running a business, but tools like Xero automatically learn and approve transaction matches based on bank rules the user has applied, eliminating the hassle of manually approving transactions.
Payroll is another aspect that can be streamlined. According to Xero, its payroll employee bulk upload feature, which lets users drag and drop a spreadsheet on all employees in one go, saves about ten minutes per employee.
Think about what you could do with the time you would save, be it adding or improving projects, engaging with clients or looking after the finances of your business.
Share and collaborate with ease
Working with colleagues and sharing data with your advisers is an extremely straightforward process when you’re in the cloud and is very advantageous to any business.
If you’re using an old desktop approach, you might have had a frustrating experience with collaboration. If your accountant needs specific numbers, for instance, you would often email each other back and forth or send a USB memory stick with your data to the office.
With a system like Xero online accounting, all the colleagues and accountants you want to share data with will see exactly what you see on their dashboard in real time – if something changes for one person, it changes for anyone.
Building this fact into your processes gives you the opportunity to truly take control of your core financial processes. On our end, with instant access to your data, we’ll be able to give you better advice so you can make better decisions.
Evans & Partners is committed to delivering the best possible service. It’s why we offer Xero accounting services for creative and media businesses, but construction, retail and eCommerce, and professional services will benefit greatly too.
Talk to us about your business.