Articles Tagged ‘Xero’

Buying new equipment for your business before 6th April 2020?


Your business year-end, not 5th April, is relevant for capital allowances purposes. If however you are running a business and making up accounts to 31 March or 5 April you should consider buying plant and machinery to take advantage of the £1 million Annual Investment Allowance (AIA). Read on to find out more...

Cloud accounting: Integrating apps to streamline your business

Cloud accounting has transformed the way businesses manage their finances and streamline operations. 

Convenient, efficient and easy to integrate into your existing business model, software as a service (SaaS) solutions are becoming the norm for SMEs and larger companies. 

Cloud accounting capabilities have developed rapidly. Today there is a plethora of downloadable apps available that cater to your specific accounting and operational needs. The Xero marketplace offers over 600 apps that will save you time and money, making accounting and other day-to-day business processes, such as payroll, bookkeeping and stock or inventory management more efficient. 

So, what kind of apps are available, and what are the benefits?

Five steps to a successful business strategy

RWB_Business Strategy

Most people can write a business strategy, but how do know when the formula you’ve come up with is a winning one? Usually, this involves employing an expensive business consultant to do the work for you, which can often leave you none the wiser as you try to implement it. The good news is, it doesn’t need to be complicated and getting your business to where you want it to be shouldn’t cost you a fortune.

Your accountant can (and should) be a good source of business advice and guidance. Here’s some tips from our business advice team to help you along the way.

Getting the measure of your business performance

RWB_Xero_Business performance dashboard

You’d be surprised just how many new clients we encounter who have very little idea just how their business is performing. Of course, that doesn’t last long, because measuring the performance of your business is one of the most important things you can do. It allows you to plot future goals and make a plan for what you need to do propel your company forward. 

With the Xero Business Performance Dashboard, you'll never have to piece together raw information from your accounting system again.

Head in the Cloud? It should be!

RWB image_Apprentice job interview

The Cloud – comprising a multitude of flexible online resources accessible via any device with an internet connection – has transformed accounting for businesses. But why and how do cloud-based solutions differ from traditional accounting software?

How to build better client relationships


We’ve talked before about the steps to building a successful business strategy. A core part of this strategy involves building strong relationships with clients and customers. 

Developing broader and deeper relationships can improve your long term business prospects by building loyalty and trust. It also costs considerably less to maintain an existing client relationship than to win a new client, so can reap significant longer term rewards.

Making your invoices pay

RWB_Xero_Invoicing tips for small businesses

If you're running a small business, invoicing and then chasing for payment can be, at best, a minor irritant or, at worst, lead you to take your eye off the ball when it comes to growing your company.

Timely invoices are the lifeblood of your business and their importance shouldn't be underestimated. When you're starting out and only have a few invoices to track each month, it's a pretty straightforward job to keep on top of everything. But, as your business grows, keeping track of the status of your invoices can quickly take over and, if you're not well-prepared, adversely affect your cashflow.

Whichever way you do your invoicing – whether it’s manually, in spreadsheets, or using online invoicing software such as Xero – these tips will help.

Need to make your accounting more efficient? There's a Xero app for that...

RWB Xero App Image

If we said to you, you can have access to one simple piece of software which will streamline your business, get your invoices paid faster, reduce data entry time and improve productivity? What would you think?

We're pretty sure you'd bite our hands off. And, it’s much easier to set up than you think.

Seven reasons why your business will benefit from online accounting


Industry magazine Accountancy Age recently published an article ‘Four reasons tech investment is critical for accountants’. It’s an interesting piece on the need for accountancy practices to embrace the digital age and offer clients the means to manage their affairs online. 

Here at RWB we’ve understood for a long time that it isn’t just accountants who need to be considering a move online to achieve a competitive advantage. 

In recent years we’ve invested significantly in developing our systems, training our team and partnering with Xero accounting software to become the largest independent Xero Champion in Nottinghamshire. The majority of our business clients are already using cloud-based accounting and enjoying the raft of benefits that come from adopting an online approach. 

Not sure if online accounting is right for you?

Here are seven reasons why your business will benefit from cloud accounting:

The accounting benefits of going digital


If 2020 taught us anything, it is that technology is a wise investment for your business. Some businesses have only survived the pandemic so far by adapting processes and moving online as much as possible. For any business, accounts and tax are key and even before the pandemic, HMRC was rolling out its Making Tax Digital campaign; requiring all businesses from sole traders to multi-national corporations to file all tax returns online. Read on to discover all the benefits of going digital...

The benefits of outsourcing – free up time to make your business a success

RWB_Outsourcing for success

There are only so many hours in the day and you/your team probably are probably too busy running your business to have time to do everything. What you really need is someone who can help you with functions like accountancy and tax issues – the very things you probably put at the bottom of your to-do list every week. 

The good news is that outsourcing functions such as payroll, bookkeeping, VAT returns or reconciling expenses can help save you time and money.

The vision thing: becoming a successful leader

RWB_Vision and leadership

The best business managers and leaders create a vision of the future that is compelling and motivates employees to want to achieve it. Great leaders help members of their team to connect what they do with the business’ overall strategy and its impact on customers. In our latest article, we look at what makes a successful business leader.

Xero dashboard – finances at your fingertips

RWB_Xero_Small business dashboard

When you're busy running a business, it's often a case of keeping several plates spinning at once. There are countless things to keep track of. One of the most important considerations is monitoring your finances.

The adage 'cash is king' could not be more pertinent when it comes to running a small business. Incomings and outgoings need to be constantly monitored, but time is often against you.

What you need is all the numbers, right at your fingertips. That's where the Xero dashboard comes in - offering you simple, flexible access to all your financial data in one place.

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