Big or small, businesses need a way to keep track of their finances. Good recordkeeping and finance tracking helps everyone get paid on time and makes tax season much easier.
That said, it can be difficult to know how or where to start. Luckily, there are excellent software solutions to help get your finances in check. We'll first take a look at the popular accounting software Xero and then explore some integrations that can help expand the platform's core functions.
Xero is versatile accounting software that can also be used for task management, with functions ranging from bookkeeping to payroll to data reporting. Its main purpose is business accounting and it’s designed to automate and simplify the repetitive tasks required to keep track of your business finances.
The platform can be used by any business that requires invoicing, bookkeeping and payroll. That includes freelancers, small businesses or large enterprises across industries ranging anywhere from consulting to construction.
Xero is designed for bookkeeping, but using integrations can expand its capabilities. In addition to letting you collaborate across different teams and business functions, Xero integrations can add functionalities related, but not limited, to:
The Xero App Store has over 1,000 third-party apps you can mix and match to truly fit your business needs. Once you implement the Xero software, you’ll find recommended tools based on the type of business you run. After selecting your integrations, you can manage them all in one place.
With the added capabilities integration can offer, it can be difficult to determine which tools will bring the biggest impact to your business. Below, we explore six popular Xero integrations to define their functions and how they can simplify your work.
Accelo is an end-to-end client work management platform built to help professional services businesses automate tasks, improve visibility and increase profits.
Accelo helps you streamline operations by tracking sales, managing client projects and storing client data, ensuring you’re always up to speed on what your customers need.
Connecting Accelo to Xero eliminates the need for double-entry and keeps your business up to date by syncing invoices, payments and purchases across both platforms. The integration allows you to connect invoices and payments in Xero with client records stored in Accelo’s CRM and then share purchases made for client projects in Accelo so you can get paid for them in Xero.
Accelo also integrates with a slew of other popular platforms to let you fully customize your tech stack.
Gusto was built for businesses and accountants seeking an easy, automated way to manage payroll, benefits, HR and workers’ compensation all in one online platform.
Payroll transactions sync with Xero each time you run payroll, keeping your books current and making bank reconciliations a piece of cake. Gusto also supports Xero tracking categories so you get better visibility into payroll expenses without the need to manually tag transactions.
Minutedock is a popular time-tracking tool for professional services businesses to accurately track billable hours. The platform offers manual entry and a live time tracker to capture your team’s work.
With the Minutedock integration, Xero can collect billable hours from your team to automatically create quick and accurate invoices. Minutedock syncs information with Xero so you can keep track of billing for each task or client.
Stripe is a popular tool that helps businesses accept payments from debit cards, credit cards, Apple Pay and Google Pay. Additional features include the option to set up auto-pay for recurring customer payments.
The Stripe integration also helps with high-level finance tracking. When someone makes a payment in Stripe, Xero will automatically match payments, making it possible to reconcile with one click and access insights into your business’s cash flow in one place.
Tradify was designed to help people who work in skilled trades manage jobs and payments and reduce the time spent on administrative tasks. Electricians, plumbers and other tradespeople can use the platform to track their schedules, quotes and invoices, making it easier to stay on top of workflows and manage finances.
The Tradify integration automatically updates invoices and payments with a two-way sync with Xero. This sync allows for an easy transfer of bills, suppliers and customer information between both platforms to help streamline the accounting process.
Zoho Expense offers automated business travel and expense management — from travel booking to expense claim creation, reporting, approval and accounting. The tool automates the process of converting receipts to expense claims, reduces time spent processing expense claims and improves accuracy in the accounting process.
When integrated with Xero, Zoho Expense helps accounting teams ease the burden of expense management with a sync between the platforms to ensure accurate, up-to-date data. The Zoho Expense integration also automatically exports all approved expenses to Xero.
Keeping track of finances is a tedious challenge for many businesses, but apps like Xero can help you stay in control of your cash flow. The trick is finding additional tools that speak with Xero to connect and streamline your financial data with the other functions of your business.
If you’re in the professional services industry, you’ll want to find tools that support the different stages of your client work. An end-to-end platform that can manage your client journey eliminates the need for a massive tech stack and reduces the time your team will spend switching between tools.
A client work management platform like Accelo might be the perfect solution.
With a quick and easy integration with Xero, Accelo is a snap to use. Request a demo to see it in action.