We’ve always thought that Xero was great financial software, and today (in the UK at least – not sure what’s happening overseas) it got even better.
There’s now a whole ‘business performance’ report section, where Xero will intelligently put together graphs to show trends in things like gross profit, net profit, current ratio (short term assets compared to short term liabilities) and several more.
These present data you might not have been paying attention to, or even thought about before, but measuring the trends can give you greater insight into the way your business is heading. And, importantly, highlight any danger areas.
There’s also a function to contact your advisor within the reports to ask any questions, request a meeting etc.
You can check the whole thing out on Xero’s own training site – Xero TV – by going to https://tv.xero.com/detail/video/5130935265001/the-xero-business-performance-dashboard?autoStart=true&q=business%20performance
If you’re not on board with Xero yet, this is one more great reason to do so. If you have any questions about Xero accountants or how we can help you, please get in touch.