Whilst Xero is primarily directed at businesses, charities can gain enormous benefits by switching…
Time is money – for businesses, and for your charity, money is often more scarce and needs to be targeted towards the beneficiaries. Whilst the monthly cost of Xero – even at the discounted charity rates – is still a bottom line cost, it does mean you can enable your staff and volunteers to spend less time doing the books, and more time focusing on the purposes of the charity.
Simple time savings
Bank feeds are an obvious advantage, ensuring accurate, up to date bank information. There will be no double entering of information with associated typos and missed records. Quick coding of transactions is a related advantage. The books for many organisations can be up to date in minutes if performed regularly. Capturing expenses, including photos of receipts from staff and those
normally stuffed into shoe-boxes, saves hours in tracking down errors and getting copies! Preparing end of year accounts for the accountant is mostly done prior to the year ending, ensuring a reduced bill and providing up-to-date information throughout the year for those monthly committee meetings.