Why construction companies love Xero

Are you the director of a small construction company? Are you looking for bookkeeping and accounting software and not sure where to turn? Don't worry we've got you! Here's our list of reasons why construction companies love Xero!

Our top 12 reasons

1. It’s cloud based

This means it’s accessible at any time through the internet, rather than having to be installed on your computer.

There’s no need to worry about security as your data is encrypted and stored in several locations keeping it nice and safe.

What’s more, you don’t have to worry about using valuable computer space and there won’t be any backups to lose sleep over!

2. It’s convenient

You’re able to log in anytime, anywhere and with any device just as long as there’s an internet connection available.

This makes a whole host of accounting functions possible on the go, via the app, including invoicing. Increasing the chances of getting paid quicker – and what could be better than that?

3. It’s collaborative

Xero allows real-time updates, which means we can log in at the same time as you to view and make changes. This makes training and problem solving so much easier, as we can see the same information as you, at exactly the same time.

It also includes unlimited users so you can add as many of your staff as you need to, as well as us. But don’t worry, you can restrict access, so you’ll have control over who can see and do what.

4. It’s progressive

Xero take pride in constantly updating their software and in finding ways to make it smarter.

As it’s a service you subscribe to monthly, rather than downloaded annually, you know you’re always using the most up-to-date version.

5. It’s intuitive

We love that Xero is designed for business owners rather than accountants. It's proven in the language it uses – there’s no mention of dreaded debits and credits here!

It’s easy to navigate around its well laid out system. Yes, it may feel alien to start with but we’re convinced you’ll love it (nearly as much as us) in no time at all.

We often find that construction company owners don’t enjoy this side of things, so it earns massive brownie points here.

6. It’s customisable

You can easily add your logo and company details so that they show on invoices and other documents.

You can also customise and save reports so that you have the ones that mean the most to you available in real-time and at the touch of a button.

7. Its amazing integrations

You’ll be sure to find an app add-on for almost anything you can think of to meet your business needs.

Check out the new Xero app store to view the amazing possibilities. Just let us know if you need any help in deciding which is best for your company.

8. Its automatic bank feeds

Linking your company bank account to Xero enables the statements to be imported effortlessly every day.

This great feature provides you with a view of your bank balance, including cash in and out without having to access your actual bank account.

Not only does this save time, but it’s more efficient and it reduces errors.

9. It helps you go paperless

Who hasn’t dreamt of being entirely paperless? Well, now it’s a possibility!

You can prepare and send your sales invoices directly from the system. This not only reduces paper and postage but speeds up the process, so you’re likely to get paid quicker too.

You can also upload your purchase invoices and link them to the bank payment, keeping them nice and tidy and all in the right place. HMRC have said they're happy for information to be kept in this way. So now you can use your loft space for storing something other than 6 years of dusty old invoices.

10. Its dashboard

This is the screen you’ll automatically see when you log in. Again, completely customisable, you can set it to show the information that really matters to you meaning you know where you stand at any moment.

This makes reviewing the money you owe and what’s owed to you totally effortless. We all know that cash flow is king, which is especially true for construction, so these kinds of insights are really important.

11. Its additional modules and features

There are additional modules in Xero that can be switched on, such as tracking, CIS, payroll and projects. Although you’ll pay an extra subscription for some of these services, they can be highly beneficial and time-saving, if used correctly.

The CIS function, for example, is an easy-to-use module that enables quick verification of subcontractors, calculates CIS deductions and deals with all the required reporting. Reporting CIS deductions to HMRC has never been simpler!

Remember to speak to us before adding modules so that we can ensure they are suited to your specific circumstances and that you're using them correctly.

12. It’s able to auto chase overdue debts

Our busy construction company clients tell us this is one of their favourite features in Xero!

You can set the system to automatically send out chaser emails once a payment deadline has passed. You can choose how often the chasers are sent, as well as how friendly the reminder is.

The great news is there’s no need to remember all those retentions years down the line – Xero can now chase them for you too!

We know that change is scary, but once settled into using the system, our small construction companies tell us they love using Xero. In fact, they have no idea how they lived without it!

So, if you’re ready to integrate Xero into your small construction company, book a free 15-minute discovery call today to find out how we can help you.

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