Do you want to increase efficiency and grow your business?
Xero is an especially effective tool for those businesses in the building and construction industry.
The many features and functionality make it the perfect accounting solution for simplifying your finances, keeping accurate records as well as financial reporting.
We outline below the reasons why Xero is the ideal accounting solution for your building and construction business:-
Quotes
Xero makes the quoting process easy – you can prepare your quotes and edit and revise them at any time. All quotes are saved in one central location meaning that once it is agreed, you can simply turn the quote into a sales invoice saving you heaps of time and manual data entry.
Instant Payments
Customers can pay you instantly from online invoices using third party payment services – please contact Lee Sugden or Mark Tooby on 0161 761 5231 to discuss third party payment options suitable for your business.
Managing Subcontractors
Xero is the perfect tool for managing subcontractors as they can email invoices directly into Xero. You can set up batch payment files so you can easily pay your subcontractors. The batch payment files can be uploaded directly to your bank account, saving you huge amounts of time and hassle.
Automate CIS Calculations
Xero automatically calculates the right amount of CIS deductions on your invoices the moment you create them, eliminating cumbersome manual data entry.
Automate the Domestic Reverse Charge (DRC) VAT
Xero automatically calculates the DRC on your behalf and completes MTD for VAT returns.
Xero also enables you to automatically apply the DRC to relevant products and services – the DRC is clearly displayed on your invoices where the DRC applies – read our Guide to the Domestic Reverse Charge VAT for Construction.
Easily Capture Purchases
The Xero Touch app allows you to upload purchase invoices on the go, so there is no need to keep receipts or fill out expense forms. You can tell Xero which account you purchased from so that Xero knows that you need to be reimbursed.
Easily Track Jobs on the Go
Xero allows you to create codes so that you can track the progress of specific jobs, enabling you to see which jobs are performing well and which are not – you are able to see which sales staff are performing best and track sales made by each member of staff.
Automate Credit Control
Xero will automatically chase overdue invoices on your behalf – you can choose how often you want chasers to be sent, so there is no need to remember to manually chase invoices.
Easily Pay Suppliers
Xero enables you to easily manage your cash flow by scheduling payments and batch paying suppliers – you can see what bills are due and ensure they are paid on time.
All bills can be stored in one central location so that you can access them online from anywhere – this enables you to avoid any late fees and helps to build up good business relationships with suppliers.
Tailored to Suit Your Needs
By choosing apps from the Xero App Marketplace, you can make Xero bespoke to your specific needs, ensuring efficiency and streamlined processes within your business. Apps, such as WorkflowMax, fit perfectly within the building and construction industry – the software is a cloud based project management tool designed to streamline and grow your business, helping you to maximise your profit.
For further help or information on how Xero can be used as a tool to grow your business and maximise profit, please contact Lee Sugden or Mark Tooby on 0161 761 5231 or email theteam@horsfield-smith.co.uk.
