11 Features of Xero Accounting Software You Should Know About

• Xero accounting software

Xero accounting software has impressed everyone with its unique, scalable, and easy-to-use features that can be accessed from any internet-connected device. This online software has become an essential business gizmo and is undoubtedly the leader in every way to keep your business growing.

It lets you keep a close track of payments, business operations, and accurate yet concise financial information, which is much easier to comprehend. Correctly set up the Xero dashboard offers a precise snapshot of your business’s financial standing.

11 Best Features of Xero Online Accounting Software

Yes, you can find many alternatives, but Xero has something extraordinary to offer with its extensive accounts management tools. To name a few, here are Xero’s best features, making it the most critical part of your accounting.

1۔ Integrate Add-ons

One of the striking features of Xero is its ability to let other powerful pieces of software (3rd party developers) add functionality with quick and seamless integration. It has the most advanced “application programming interface (API),” which combines add-ons to make your business systems more productive and highly efficient.

Each add-on connected to an online accounting software comes with a different yet valuable purpose for the sake of better management of finances. It is equipped with more than 800 third-party software integrations۔

2۔ Free-of-cost Updates

Xero accounting system receives software updates regularly to keep all functions cutting-edge. Luckily, downloading the latest version is free worldwide for all users.

How to upgrade your Xero subscription? Well, you don’t have to! As soon as the new feature is released, the update is installed whenever you are logged in to your account. It improves project administration and better collaboration.

3۔ Direct Bank Feeds

Reconciling bank accounts every month can be frustrating, tedious, and time-consuming. You can put away your problems by replacing traditional desktop accounting software with Xero!

Xero bank reconciliation has a feature (included in all plans) that enables you to link your bank accounts directly with your Xero account, bringing in all data and importing your bank statements at the end of every business day to keep everyone updated with banking activities. It reduces bookkeeping time and banking errors updates financial data and induces greater accuracy by providing daily feed automatically.

4۔ Cloud-Based

Xero is online software that saves and updates information in the cloud, letting you access it from any part of the globe and any internet-enabled device. The easiest way to access vital business metrics in real time!

Multiple users can access or edit information and projects simultaneously, giving a better chance at collaboration. You have the authority to restrict access of particular employees to confidential data for safety purposes.

Now, you don’t have to use USBs for repositioning or sharing data with your accountant – kiss goodbye to alignment journals. Give your trusted business consultant or accountant the login details; they will make all the vital entries to keep your finances straight.

5۔ Quick Quotes

Xero has a remarkable feature of providing quotes rapidly and accurately by offering quick inventory setup and updating pricing information timely. In addition, the software updates your system according to the client’s activity (acceptance or refusal to quote). If the customer leaves comments, you will be notified to maintain a trouble-free follow-up process.

Upon project completion, the original quote can simply be turned into an online invoice guaranteeing faster disbursements.

6۔ Multi-Currency

Xero Premium Plan multi-currency feature allows you to receive bills, make or accept payments, provide quotes, forward invoices, and place orders in more than 160 currencies to support international trade with excellent flexibility. You can also set a default currency for a particular client to save the hassle. Xero currency conversion is worth the appreciation!

Moreover, it has a feature where it converts foreign currency automatically into local dollars (money you spend or receive). Xero conversion keeps updating foreign exchange rates.

xero software

7۔ Online Invoicing – Xero Custom Invoice

Xero Accounting Software has many inspiring features, but fast and straightforward “online invoicing” has been the best. It lets you receive payments up to 35% faster in comparison to bank transfers. This feature allows you to:

  • Create professional invoices online.
  • Send invoices to customers through email, even in bulk.
  • Set an automatic payment reminder.
  • Replicate invoices.
  • Send invoices in multi-currency and forward customer account statements (with payment add-ons).
  • Make customised templates with the company’s logo or business information.
  • Track invoices.
  • Forward recurring invoices automatically.
  • Create and send credit notes to consumers (with payment add-ons).
  • Receive payment directly from the customers from your invoice.

Manage the entire payment process from one place, even via mobile phones!

8۔ Add Files

You can upload files online and attach them to particular invoices or almost any transaction because Xero produces a PDF of each invoice, expense, and journal entry. Integrate any add-on, such as Invitbox, and save the time that can be wasted in searching through your filing cabinet.

Xero attaches a file to invoices – it is easier to keep track of any manuscript this way.

9۔ Paying Bills

This feature is one of the most resourceful as it has various amazing features installed within. Xero system saves every bill inside the cloud, letting you access it when needed.

  • Due bills for payment– giving a quick summary of bills while observing and sending alerts for unpaid bills.
  • Schedule payments– make scheduling payments for bills easier.
  • Hubdoc integration– assisting you in collecting critical data from every receipt.
  • Repeat and replicate bills– helping you save time by duplicating the old bills and editing the amount automatically.
  • Xero batch payments – letting you pay in bulk simultaneously.
  • Money back– valuable for reimbursing money to clients directly.
  • Records bills online– offering a chance to go paperless completely.

With innovative O.C.R. technology, the Xero finance system extracts essential data that may be names, amounts, or dates.

10۔ Customised Dashboard

You can personalise the columns, blocks of text, formulas, and drag-and-drop accounts according to your business needs. You have access to more than 55 accounting reports that can be customised to get the desired updates. It lets you view and share data regarding sales, inventory, cash flow statements, and balance sheets.

Xero has another classic feature of ‘Journal Report’ that solves your research issues.

11۔ Payroll & Pensions

Xero has mastered the skills of processing payrolls and pensions. Add payroll to Xero and rest on your seat.

This feature gives every member an “employee portal” for letting them view group certificates, access receipts, submit time sheets, and apply for leave. It keeps payroll and pension activities under balance with efficient management and constantly modifying the required aspects of payroll assistance.

Xero – Business & Accounting Software

We all agree on how important it is to keep accounting information safe, updated, and accurate. Xero helps you maintain all sensitive and confidential data online while implementing various security procedures.

Profits Plus tax consultants always use Xero cloud accounting software to allow companies to bring accounting automation to save time and money. Rest assured, we give you real-time assistance with Xero, the best VAT-compliant accounting software in the UAE, to train your admin or secretarial resource. Our British accountants, with over 20 years of experience, will ensure every piece of information is 100% correct.

Why You Can’t Ignore Xero Cloud Accounting Software

The Evolution of Cloud Accounting 

In the past few years, we have witnessed the birth and rapid evolution of cloud computing, with more and more traditional services being replaced by their far more efficient, affordable and secure alternatives. Accounting is no different and thanks to the hectic pace technology are moving at, the question is no longer whether you should move to small business cloud accounting but rather, when.

Problems with traditional accounting software

The drawbacks of traditional accounting software in the UAE, certainly play a role in the shift to cloud accounting. The data in the traditional accounting software system isn’t up to date and neither is the software. What’s more, the software only works on one computer – the data needs to be manually transferred between devices, usually by virtue of USB drives. This presents a myriad of other issues, mostly to do with security and reliability.

Traditional accounting software and services in the UAE are outdated since they are rooted in the idea that only one person should have access to the data. This means that important people within your business may not have access to the financial and customer details, which impairs productivity and diminishes the level of customer service your organization can provide.

What’s more, traditional accounting software tends to be costly and updates and regular maintenance are expensive (often not included in the initial price), time-consuming and challenging especially if you’re not tech-savvy. Keeping backups is rarely one and even then, it may cost you more time and money than it’s worth.

When it comes to your company’s financial needs, you cannot afford to settle for outdated accounting services that charge you too much while bringing almost no value to the table. What you need is an experienced, qualified and pioneering accounting firm that will handle every single detail, provide you with cutting-edge accounting tools and allow you to focus on your company’s future growth instead of book-keeping.

What is cloud accounting?

Cloud accounting is the alternative to traditional accounting software, whether it’s on-premises or self-install. The only difference is that small business cloud accounting is hosted on remote servers, similar to the Software as Service business model: data is sent to the cloud where it can be processed and returned to the user.

This means that all functions are performed off-site, rather than on your desktop which minimizes issues related to reliability and security. All you need to take advantage of cloud computing is a reliable connection to the Internet or another network via a cloud application service provider. Because of that, cloud accounting is far more flexible than traditional software – the accounting data can be accessed from any point around the world and from any device that has an Internet connection. What’s more, cloud accounting software in the UAE like the one Profits Tax Consultants use can update your financial information automatically and provide you with real-time financial reporting.

Profits Plus is a cloud accounting firm based in Dubai that will go above and beyond to ensure that your company is provided with qualified accounting services and support your company’s growth and expansion. Our state-of-the-art small business cloud accounting partner software is run by experienced British accountants who have spent more than 20 years of working with British companies and VAT.

Xero Cloud Accounting Software in UAE

One of the key players in the shift towards cloud accounting is Xero, a New-Zealand-based software company that develops cloud-based software for small and medium-sized businesses. Their small business cloud accounting software lets companies share access to the latest business numbers with their teams, accountants and bookkeepers so everyone – including team members around the world – are kept in the loop and up to speed.

This means that you can easily log into any Xero file you want by simply using your Internet connection. You can share access with your accountant who in turn can not only open the file but make adjustments, prepare and lodge BAS and tax returns, and provide real-time assistance if needed. This saves up time and money as the accountant doesn’t necessarily have to send the data back and forth, either digitally or physically.

We at Profits Plus truly believe Xero accounting software has transformed the modern world of accounting in the UAE. Instead of having a monthly meeting with your accountant where you pile mountains and mountains of paper files, you can easily manage your accounting information in real-time. This helps you make faster and more effective decisions. Unsurprisingly, in the past 12 months alone, Xero has shipped more than 1,2000 features and product updates, most of them designed to provide accountants with back time and helping them migrate to methods of value-priced billing while increasing their workload at the same time.

Profits Plus is a 100% cloud-based accounting service, which means that you will be able to take advantage of the flexibility, convenience, and practicality of cloud service based on the Xero Small Business Cloud Accounting Software. In addition, we will integrate accounting systems inside your company, offer you book-keeping as well as expense management services that will enable you to monitor your company’s growth, expenses and earnings.


In a nutshell, cloud accounting software like Xero enables professionals in the UAE to save time, and businesses to enjoy greater flexibility, reliability, and security when it comes to financial operations. Xero certified accountants can create a lot of efficiencies going beyond that of manual data entry: using the cloud service, they can finally have time to analyze the work and truly help small businesses remain cash flow-positive.

Some of the benefits associated with using cloud accounting software for business purposes in the UAE are increased accessibility, productivity, organizational reporting and improved back-up and recovery. Small business cloud accounting software can improve the productivity within your organization by saving you enough time to focus on actually running your business rather than spending valuable resources on bookkeeping and accounting.

What’s more, a Xero certified accountant can access your accounting and financial information from any point around the world. This makes it the ideal option for businesses that have remote employees or work with accountants from abroad. This also frees you from having to install and maintain software on individual desktop computers (so you can save money on your IT infrastructure and training expenses). With small business cloud accounting, you can also improve the communication within your business as employees in other departments, branch offices or remote areas can access the same data and version of the software, and make changes if needed.

Xero also makes it easier for you to get real-time reporting and visibility throughout your organization. With cloud computing, subscription-based models are the most popular option – you can pay a subscription to receive updates as soon as they’re launched, without having to invest more money in additional software purchases.

Xero also provides you with better backup and recovery capabilities. Xero, cloud accounting software, makes storing and recovering data more convenient and reliable than in-house servers. All these benefits also ensure cloud computing is one of the most, if not the most, cost-effective option on the market. If you’re looking for a Dubai accountant, working with someone who is Xero certified can save you a lot of time and expenses in terms of maintenance and management of data and servers.

What the future holds

Given the many benefits cloud accounting software in the UAE offers to small and medium businesses, it’s not surprising that experts believe that cloud accounting will become the new normal. What’s more, Xero and similar software may become even more important and relevant as AI and machine learning grows in popularity.

Since we are a 100% cloud-based firm, we are able to offer you high-value, low-cost accounting services by cutting down on conventional, obsolete and expensive hardware and software and passing those savings on to you and your brand. Our mission is to establish an honest, trusting and lasting relationship by going the extra mile and ensuring your satisfaction. Choosing Profits Plus means having a whole team of highly-experienced British accountants at your disposal.

If you’re looking for a UAE accountant but have not yet made the switch to cloud accounting software, it may be a good idea to put a framework in place as soon as possible. Steadily working towards a plan is the key to enhancing what you already have and prepare for the future – and by the looks of it, the future of accounting is synonymous with cloud accounting.

If you are looking for an accountant in Dubai then speak to Ali Afzal, a Managing Partner at the firm. You can reach him directly on a.afzal@profitsplus.ae.

Note: www.profitsplus.ae is a domain belonging to Profits Accounting and Bookkeeping, an accounting and bookkeeping firm registered with Dubai Economy, Trade License No. 796316.