When you go to the Xero website and setup your free trial I can understand why you think that maybe you don’t need Xero training.
It’s so user friendly!
All you need is to grab your free trial and go.
In an earlier post I wrote about the 7 most common mistakes in Xero. You can read it here.
I’ve called them the “7 deadly sins” of Xero and you can download my checklist which will help you avoid them.
But apart from that, why do you need Xero training? Here’s my 5 compelling reasons why you need Xero training for your small business:
1) You will save time
If you are unsure what you are doing in Xero it will take you much longer than it should. As well as being very frustrating, correcting mistakes can be very time consuming.
There are tips and trick to learn, many of which are geared around saving you time. One of my all-time favourite time-saving tips is to use Item Codes in your Sales Invoices.
I’ve had clients move from Sage to Xero and with a concerted effort (many hours training) they have reduced their time spent on bookkeeping to one third of what it took previously!
2) You will save money
This reason is always going to get your vote. So why will Xero training save you money?
Hopefully you’re already in agreement that it will save you time. And we all know, that time equals money.
Less time spent in Xero means more time to do other things in your business.
Your accountancy bills will be less. If you are unsure what you are doing in Xero, then you will need to pay to have mistakes corrected. Your accountant will spend more time than if your Xero account is tidy, and will want to pass that cost on to you.
3) You will understand your business finances better
If you input your information accurately, then you can run accurate reports in Xero.
- The Aged Payables Report shows you what you are due to pay your suppliers.
- The Aged Receivables Report details what your customers owe you.
- Accurate cash flow reporting will show you where your money has come from and where it has gone
- Your Profit and Loss account will show you how well your business is doing if you are trained in Xero and bookkeeping. For your Profit and Loss account to be reliable you need to put through accounting adjustments for depreciation, prepayments and accruals.
4) Your accountant will love you
Not only will your accountancy fees be less, but it will improve the relationship with your accountant.
Trust me I know! In the 5 years I spent running my accountancy practice (minus the suit and tie), my favourite clients were always the ones who knew what they were doing in Xero.
5) You will stay out of jail
OK this might be a bit of an exaggeration but it will keep you on the right side of the law. As a business owner you have legal responsibilities.
- If you’re self employed HMRC require that you keep accurate records of your business income and expenses for your tax return.
- When you operate as a limited company, the accounting requirements are more onerous than as a sole trader or partnership.
- If you have employees, you need to pay your employees accurately and on time.
Being trained in Xero will help you to meet your legal obligations.
Bonus – you will have fun!
Here’s what Lesley had to say after attending one of my Xero workshops: “It was a fun day, everybody was very friendly and I loved the interactive style of the course.”
Have you had any Xero training? I would love to hear your experiences of Xero training in the comments below.