Great Business Ideas: Simple Accounting
November 25, 2008 by Fake Balmer
Filed under Great Business Ideas
Accounting has always been a headache for all businesses, whether for ‘mom and pop’ stores or large enterprises. There are simply no one size fits all solution and existing lame duck programs (from my company) seems focus on making your life more difficult than solving anything.
This is until the introduction of Xero, which was founded in July 2006 by technology entrepreneur Rod Drury and specialist small business accountant Hamish Edwards. Xero is now listed on the New Zealand Stock Exchange and it has become a fast growing company.
Xero is an online accounting system designed for small businesses and their advisors and it works!
Xero offers numerous useful features such as expense claims, budgeting, accounts watch list and bank accounts summaries, all presented graphically in nice diagrams to show you all the important numbers regarding your money.
At the heart of Xero is a full accrual accounting system which automates and simplifies day-to-day bookkeeping. Also, due to the web-base nature of the software, the user can access his accounts and run their business from anywhere in the world. Trusted advisers can log in and view the user’s accounts, providing valuable real-time advice.
This software is not free though, but costs a mere $49 New Zealand Dollar per month to use and as a business idea, Xero gets 5 stars, not just for the money making idea but for the flawless execution that turns a complicated and laborious task into a fun one.
As the boss of Macrohard, I must admit that my software engineers are unable produce such nifty software.
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hansolo on Tue, 25th Nov 2008 9:59 pm
Fake Balmer? Macrohard?
Is this a joke post or what?
hansolo on Tue, 25th Nov 2008 10:01 pm
Xero is currently only available in NZ, Oz, and UK.
The global version of Xero will be available only in early 2009.
Please do your research before posting on a Singapore web site.
Gwen on Wed, 26th Nov 2008 5:08 pm
Hey Han,
SGE is looking at diversifying our content and Fake Balmer has been invited to join our team to contribute his opinion and analysis of great and bad business ideas from around the world. This was a first post intended to test waters and so might have seen a bit out of place. As this is a nascent section on SGE, we are looking to have it evolve and we will formally introduce Fake Balmer in his next post.
Rod Drury (Xero) on Wed, 26th Nov 2008 6:15 pm
Hey thanks for mentioning us FB!
We’re making good progress on our global version and keen to hear what we need to make Xero the best accounting software for Singapore. We’ve spent a lot of time in Singapore so we’re keen to get Xero established there so we can come up and visit more often.
You can play with the free demo now and we’d love to get your feedback and ideas.
Rod
http://www.xero.com
Accounting Information Resources » Great Business Ideas: Simple Accounting on Wed, 26th Nov 2008 7:29 pm
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Fake Balmer on Wed, 26th Nov 2008 10:52 pm
Well, for someone who calls himself Hansolo, it seems pretty prude that you have an issue with my nick.
Anyway, you can use Xero in Singapore, only without some features like the auto bank feeds. (I have used it for months after verifying with Xero months ago.)
Please do your research before rebutting on ANY web site.
Rod Drury (Xero) on Mon, 22nd Dec 2008 8:39 am
Global is ready
http://blog.xero.com/2008/12/were-global/
Cheers
Rod