As you know, we’ve already excitedly shared the news of the latest product from Xero: Xero Go. From all of our experience working with sole traders over the years, we know exactly how valuable this product will be, so we wanted to take some more time to explore the benefits.
What are the benefits of Xero Go for sole traders?
- It’s free – making it a very affordable way for smaller businesses to access the powerful tools that Xero provides and that could otherwise be cost prohibitive. Invoicing is the only element that requires a subscription, which is a modest amount. If you’re someone who doesn’t need to invoice, e.g., a landlord, then you will be able to effectively manage your accounts for free on an ongoing basis.
- It removes the need for separate apps – with the app being developed specifically with sole traders in mind, it consolidates so much into one place. For example, you’ll be able to directly scan your receipts (no third-party integration needed), which simplifies and speeds up the management of receipts and expenses. What a time saver!
- It gives you a comprehensive financial snapshot – with a business dashboard available at-a-glance from your phone wherever you are, you can stay on top of your business. Information is powerful: it stops you from getting caught out by last-minute nasty surprises. You’ll also be able to view your cash flow along with simple reporting.
- Easier information sharing with your accountant – Xero Go can connect directly with your accountant through the Xero partner plan. Direct access to your financial information will enable your accountant to provide more timely, tailored, and informed financial guidance.
- Hassle-free invoicing – if you opt for the invoicing bolt-on, you’ll then be able to create and send (your personalised) invoices wherever, whenever. To help speed up payment, there is a ‘pay now’ button that can take immediate payment via Stripe using Apple Pay or G Pay. Imagine how much of a relief it would be to have prompt payment of your invoices! For anyone who doesn’t do this, you’ll be able to more easily track overdue and/or unpaid invoices.
- No hassle compliance with Making Tax Digital – finding straightforward ways to comply with HMRC filing deadlines and rules is invaluable. It can be a minefield but it doesn’t need to be that way, especially with the help of Xero Go and a good accountant.
How do I get Xero Go?
It’s available now from the App Store – just for iPhone (no iPad version) nor Android version (for now!).
Trinity Accountants were part of the development of Xero Go so the experiences of our smaller business and sole trader clients are reflected in the app. We’re confident that using Xero Go will remove so many of the financial headaches and time-consuming manual tasks that keep you from the core elements of your business.
Want to talk about how Xero Go can help you specifically? Get in touch. We’re happy to chat!