MYOB had always been my number one accounting program, but I was hearing a lot of positive feedback about a relatively new product called Xero.
Two years ago I decided to try Xero with another business that I own in real estate which was on desktop V19.
I felt that this would be a good test case for me to compare the apparent “time savings” that Xero was suppose to produce.
Using V19 MYOB, the other business’ accounts took me two and a bit days a week for data entry, emailing invoicing and statements, reconciliation and reporting.
By converting over to Xero with bank feeds, creating rules, re-occuring invoices that automatically emailed themselves to tenants each week and using other options inside their program I only had to spend one day a week on my accounting. Saving me 10hours a week in total.
I then used a add on called Receipt-Bank to manage all my receipts. I coded them so that the entries seamlessly flowed into Xero.
This added another time saving of 5 hours a week on average.
My total time saved by converting over to Xero + adding Receipt bank gave me approximately 15 hours a week or 60 hours a month.
Who is Xero?
What would you do with more time?
Needless to say, I love Xero and find their training programs support and resources to grow second to none.
I am a certified Xero user and my girls love using this software and will be working towards being certified themselves over the holidays.
The only product MYOB has that I now use is MYOB Essentials, as I find it is an excellent counterpart to Xero’s in the cloud software with similar functions that my MYOB clients love.
If you would like to have Xero set up for your investment portfolio to reap time saviplease give me a call on 0423 463 721 today!ng benefits or would like to know more about this amazing in the cloud software, then call us today!
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