Xero has added two significant updates to it’s cloud accounting software which will certainly assist businesses determine their financial position at a glance and understand their short term cash flow.
Both updates are currently in pilot however are available to UK Xero subscribers in the Business menu of the cloud accounting software.
The two new updates are a Business Snapshot dashboard and a Short-Term Cash Flow dashboard.
Xero Business Snapshot
The Xero Business Snapshot provides a visual summary of a business’s performance and financial position using easy on the eye graphs.
It summarises the Income, Expenditure, Gross Profit Margin and Net Profit. It also focuses on the largest expenditure categories which can be drilled down for further analysis.
The tool can be easily filtered to present the information for the last month, the last quarter or the last financial year.
Our Xero Specialist Louise Holmes said “Xero continues to improve its software with the aim to make things easier for business owners and managers to manage their finances. This update is just another setup to making their lives easier.”
Xero Short Term Cash Flow
The Xero Short Term Cash Flow summary is a timely update. With the importance of managing cash flow for business only ever becoming more important, Xero has given business owners and managers an easy tool to manage their cash flow on a weekly or monthly basis.
The update works by using the information held in Xero and plotting income and expenditure based on expected dates input into the software giving a summary of a businesses likely cash position.
Businesses often struggle to manage cash flow and it is a significant reason why even profitable businesses can fail. This tool can only help businesses finally nail down the cash flow management.
If you would like to discuss either of the new updates to Xero and how they can help your business, please do not hesitate to get in touch with one of our team on 01228 904 904.