Blog

Eliminate the hassle of manually creating monthly recurring expenses forever!

Read More...

Xebra is thrilled to be a selected in NASSCOM 10,000 Start-ups program

Read More...

Eliminate the hassle of manually creating monthly recurring invoices forever!

Read More...

Disburse monthly asset purchase payments in less than a minute!

Read More...

How did digital communication change post covid?

Read More...

Watch how pandemic has changed communication strategy for MSME companies

Read More...

The Evolving Landscape of Security and Privacy in FinTech

Read More...

Ecommerce Agency Owner Roundtable (Virtual Event)

Read More...

Disburse monthly company purchases in less than a minute!

Read More...

Increase your cash-flow and profitability with Xebra!

Read More...

Multiple GST no’s delayed your tax calculation and accounting entries?

Read More...

Disburse employee monthly salaries in less than a minute!

Read More...

Disburse your monthly Company Expenses in under a minute!

Read More...

Ways to Improve your cash flow and collect money faster from your clients

Read More...

Step by step guide to kick-start your small business

Read More...

How can you maintain accounting accuracy for you small business?

Read More...

Onboarding Simplified for MSMEs

Read More...

How & Why Saas tools can help your small business?

Read More...

Should SMEs in India buy Saas applications and other online tools to become efficient and effective

Read More...

Xebra makes payroll a breeze!

Read More...

How does an invoicing software work?

Read More...

What are the basic accounting disciplines that small companies and start-ups should follow?

Read More...

SaaS application that streamlines your accounting, invoicing, and payroll needs of your business.

Read More...

Do biz-finance software’s contribute to start-ups in terms of value creation, relationships, counsel, and influence

Read More...

Accountant Vs. Bookkeeper- What’s the difference?

Read More...

Will accountants be replaced by computers in the coming years?

Read More...

Is an online business and finance software the right move for your small business?

Read More...

Should small business outsource their bookkeeping requirement or carry it out in-house?

Read More...

What are the accounting alternatives to tally for a small business?

Read More...

All You Need to know about Banking Terms

Read More...

Everything you wanted to know about Tax Deducted at Source TDS

Read More...

5 Ways Small Business Are Adopting Cloud Software

Read More...

In Conversation with Nimesh Shah Xebra Business Financial Suite

Read More...

How Cloud Accounting Can Help Small Business

Read More...

Don’t let the lockdown impact your business

Read More...

Why every founder must do business financial analysis during this lockdown

Read More...

Four free business applications you can use while working from home

Read More...

The 10 features in an ideal Online Invoicing Software

Read More...

News

Xebra is thrilled to be a selected in NASSCOM 10,000 Start-ups program

Read More...

The Evolving Landscape of Security and Privacy in FinTech

Read More...

Ecommerce Agency Owner Roundtable (Virtual Event)

Read More...

Media

How did digital communication change post covid?

Read More...

Watch how pandemic has changed communication strategy for MSME companies

Read More...

In Conversation with Nimesh Shah Xebra Business Financial Suite

Read More...

Why every founder must do business financial analysis during this lockdown

Read More...

Four free business applications you can use while working from home

Read More...

Product

Step by step guide to kick-start your small business

Read More...

How can you maintain accounting accuracy for you small business?

Read More...

Onboarding Simplified for MSMEs

Read More...

How & Why Saas tools can help your small business?

Read More...

Should SMEs in India buy Saas applications and other online tools to become efficient and effective

Read More...

Xebra makes payroll a breeze!

Read More...

How does an invoicing software work?

Read More...

What are the basic accounting disciplines that small companies and start-ups should follow?

Read More...

SaaS application that streamlines your accounting, invoicing, and payroll needs of your business.

Read More...

Do biz-finance software’s contribute to start-ups in terms of value creation, relationships, counsel, and influence

Read More...

Accountant Vs. Bookkeeper- What’s the difference?

Read More...

Will accountants be replaced by computers in the coming years?

Read More...

Is an online business and finance software the right move for your small business?

Read More...

Should small business outsource their bookkeeping requirement or carry it out in-house?

Read More...

What are the accounting alternatives to tally for a small business?

Read More...

All You Need to know about Banking Terms

Read More...

Everything you wanted to know about Tax Deducted at Source TDS

Read More...

5 Ways Small Business Are Adopting Cloud Software

Read More...

How Cloud Accounting Can Help Small Business

Read More...

Don’t let the lockdown impact your business

Read More...

The 10 features in an ideal Online Invoicing Software

Read More...

Video

Eliminate the hassle of manually creating monthly recurring expenses forever!

Read More...

Eliminate the hassle of manually creating monthly recurring invoices forever!

Read More...

Disburse monthly asset purchase payments in less than a minute!

Read More...

Disburse monthly company purchases in less than a minute!

Read More...

Increase your cash-flow and profitability with Xebra!

Read More...

Multiple GST no’s delayed your tax calculation and accounting entries?

Read More...

Disburse employee monthly salaries in less than a minute!

Read More...

Disburse your monthly Company Expenses in under a minute!

Read More...

Ways to Improve your cash flow and collect money faster from your clients

Read More...

How can you maintain accounting accuracy for you small business?

It is easy to side line your accounting duties to one side while you focus on the day-to-day smooth running of your small business. Invoices are either lost or mixed up, and are haphazardly saved somewhere on your computer (at least, you think they’re all saved) and you’re so busy planning tomorrow’s crucial client meeting that you simply don’t have the time to focus on ‘big-picture’ financial planning.

This is understandable. As a small business owner you have a ton of responsibilities and you want to manage and control everything possible. However, that doesn’t mean that it’s the ideal way to operate.

Firstly, the main question arises that why should we check accuracy of accounts?

You can make the most out of your allowable expenses, be regularly compliant with your latest government rules and regulations, legally reduce your tax obligations, prepare end-of-year financial statements in no time at all with the help of accurate data, and plan the next big business path to a prosperous future.

Accurate books also ensure more accurate and ready data to make important business decisions and most importantly run your business with more overall confidence!

Accounting accuracy helps you reduce taxes by telling you how much you owe, how much you’re owed, when you completed a project, how much you’ve spent, and on what. Not only is this important in the context of business planning but also helps you reduce your taxes. There are a number of banking terms that are crucial to running a successful business, you can have a look if you need a short refresher.

If your accounts are accurate, it also helps you claim proper TDS. By keeping track of invoices and receipts will help you claim all allowable deductions, meaning you won’t unnecessarily pay more tax than you have to. You’ll remain compliant and won’t accidentally forget to include certain income on your financial statement.

Lastly, it will save you time and a lot of frustration (arrrgh!), when you set up a system early on to keep track of your invoices. Debating between an accountant Vs a book-keeper? Let us guide you to make an informed decision.

The 3 must-know tips to help small businesses improve their accounting accuracy for the coming years are:

1. Follow best invoicing practices like: Making sure the description is specific and as detailed as possible, double checking that the due dates are correct, finding out the total amount of money should be accurate, check that your contact details are complete and accurate.

2. Prepare Financial Statements: Financial statements tell your business’s story over the past financial year like how much you made in any given period and on which project, or the value of your business, and how much cash you have, and how much you pay your employees, etc. You need to manually sit and prepare all of these records which would be quite easy if you have accurate data to put in.

3. Automate Whenever You Can: Depending on the size and nature of your industry, you may be able to use accounting software that’s already available out there, or customize your software. We’re always here to help you with the help of Xebra, which is the latest and most upcoming business financing software. Using an accounting software that is cloud-based, allows for multiple-users on your team to use it, comfortably, and stores all your data securely. You need to consider a lot of factors when you are thinking of switching to a cloud accounting software.

Xebra simplifies the tedious process of entering data into spreadsheets and manually reconciling figures. You can use this application which will surely complement your digital business. If you already do all your banking online, using Xebra will sync your business bank account with the cloud software, and check your bank statement through the app itself!

Xebra is a 100% unified cloud accounting software that merges business insights, invoicing, purchase, expense, asset, inventory, payroll, HRMS, tax, bank and accounting, which further makes it extremely user friendly and easy to navigate. You can check out Xebra company history to understand why it was started and when.

Xebras vision is to empower, digitize and improve the financial well-being of all MSMEs.

Xebra helps you understand your revenue growth on Month-to-Date and Year-to-Date basis. You can get pie graphs to understand your client/item wise revenue break-up. You can also map your revenue in company or client particulars with your last year figures and your upcoming targets, to get in-depth analysis.

What’s more? You will be able to maintain an accurate and real-time, birds-eye view over your revenue and spending’s- allowing you to identify your most valuable clients, biggest outgoings, unnecessary expenses, etc.

Xebra is equipped with an extremely strict privacy policy and rest assured all your documents and data is extremely secure here. It further gives you access to the latest and most efficient tools in the accounting industry which help you get the most accurate accounting reports possible!

So cut down the entire hassle of scrutinizing all your data multiple times to ensure accuracy and sign up on Xebra now!

Related Posts


The 10 features in an ideal Online Invoicing Software

Four free business applications you can use while working from home

Why every founder must do business financial analysis during this lockdown

This Post Has 0 Comments


Leave a Reply

Your email address will not be published. Required fields are marked *



*

SEARCH

CATEGORIES

FOLLOW US ON

Koo

ARCHIVE

SUBSCRIBE TO XEBRA NEWSLETTERS