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Why every founder must do business financial analysis during this lockdown

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Product

Make customised and compliant invoices in less than 60 secs using Xebra

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Decode cash flow statement to boost your company’s growth

Read More...

Step by step guide to kick-start your small business

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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

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5 Ways Small Business Are Adopting Cloud Software

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Video

Migrate all your data from any accounting software to Xebra in three simple steps

Read More...

Xebra eliminates the process of physical documentation for expense vouchers entirely

Read More...

Eliminate the employee onboarding hassle with Xebra’s automation

Read More...

Xebra’s Vendor Portal that streamlines payments

Read More...

Improve your cash flow with Xebra’s dedicated client portal

Read More...

Xebra’s smart alerts notify you when expenses can cross budgeted limit

Read More...

Xebra helps you track your revenue targets that you have set client-wise or product/service wise!

Read More...

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...

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

In the past, accounting software was complex and cumbersome. It was generally more suitable for large enterprises than small businesses. Now, there’s a huge range of accounting software that’s been designed especially for small businesses and the self-employed owners. Many of the products are not very expensive (or even completely free like Xebra).

This type of a cloud accounting software is designed to make it easy for you to manage your business finances, helping you with things like bookkeeping, invoicing, purchase orders, inventory, and payroll. The product you pick will usually include reporting tools as well, so you can track your cash flow and monitor your profit and loss, for example.

And with cloud accounting software’s like Xebra now in full force, businesses need to make an informed choice about the accounting application they use to keep digital records and send tax returns. There are several biz-finance applications now days that you can use to manage your accounts, invoicing and or even automated payroll needs.

I am here to help you make an informed decision and save you a lot of time!

If you consider the popularly known application Tally, you may also want to investigate similar alternatives or competitors to find the best biz-finance software suited to your business needs. Horizontal SaaS-based products are a widely used technology, and many people seek popular, easily administered software solutions with accounting, invoicing, sales forecasting, and workforce management. You need to understand a lot of factors when you are thinking of switching to a cloud account software.

The sheer number of programs and providers available can make it hard to compare accounting software, let alone choose a package to suit your needs. I have taken a look at some of the best-known financing options for small businesses. Modern accountancy packages tend to be cloud accounting software, so they should work fine whether you use a Mac or PC and most of these programs are mobile-friendly too.

Many of the paid subscription services I have mentioned below in this blog offer a free trial (usually one month/ except Xebra offers a forever free simple plan as well) when you first sign up so you can try it out to see if it suits your needs. However, if you decide to buy, bear in mind that the prices shown usually may not include VAT. There are a number of banking terms that are crucial to running a successful business, click here for a short refresher.

Other essential factors to consider when researching for business finance software’s include features and business needs. We have compiled a list of solutions that users voted as the best overall alternatives and competitors to the well-known Tally.

We have done an in-depth analysis on three fast-growing cloud accounting softwares:

Some central qualities in an application that will help you find a solution for all your financial requirements include flexibility, collaboration, connected, trusted/ reliable and mainly automation. It is also essential to know about your taxes and how much are you supposed to pay for your small business.

Although there are many other biz-finance applications, I think these 3 are the most effective for several reasons that will be covered throughout this article.

Software #1- Xebra

Xebra offers a variety of biz-finance solutions for your business needs. It is a unified Analytics, Financial & Banking platform that gives an instant, accurate and comprehensive view of the entire business performance. As a result, it helps entrepreneurs unlock growth opportunities at every stage of their business journey. Please feel free to check out Xebras company history here.

Xebra is mainly categorized into Business, Financial, Human Resource and Social Solutions. It is a unified application that merges business insights, invoicing, purchase, expense, asset, inventory, payroll, HRMS, tax, bank and accounting, all into one application, making it easy to navigate and extremely user friendly.

Xebra also has an extremely strict privacy policy and rest assured all your documents and data is extremely secure.

Xebra is designed for small businesses & start-ups to help them with:

  • Consolidated view of your business performance
  • Real-time & accurate data interpretation to unlock growth
  • Get rid of handling multiple software, vendors and log-ins
  • Generate more time to build client relationships

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 an in-depth analysis.

Besides that, Xebra helps identify your top profitable clients by mapping their credit history. It provides a quick check on the client-wise outstanding amount and the exact number of days since it is pending. This data is further split at an invoice level dues for effortless follow-ups with clients.

Additionally, Xebra also does a real-time risk analysis of your company. As a result, it gives you a deep understanding and actionable guide on the nature of clients to take course correction by re-deploying your resources to more profitable clients. This, in turn, also helps make your business extremely profitable.

It provides you with real-time visibility on your company's cash flow and calculates cash runway. For example, you can improve your cash flow by up to 25% by taking immediate course correction steps. I know, right! Further, it also displays immediate receipts and payments for the next two months.

Few Top Features:

1. Increase profits without additional expenses

Not every client or item is equally profitable. Xebra’s Opportunity Quadrantä maps the variables so you can make data-driven decisions

2. Get an additional 50 days/ year:

Xebra auto-calculates your taxes, auto-reconciles your bank statements and auto-updates ledgers, P&L & Balance Sheet. With the help of this feature, you can say goodbye to manual bookkeeping.

3. 60% saving on software costs:

Invoicing, expenses, purchase, inventory, asset, tax, payroll, banking and accounting, all rolled into one application. No more hassle with data silo or handling multiple vendors and mainly no more issues logging into multiple software.

4. Unlock growth with Sales forecasting:

Seamless data flow across functions to help you connect the dots & identify risk and earning areas. Increase profitability by up to 40%

5. Get actionable insights to make data-driven decisions:

Not every client or service of yours is equally profitable. Xebra identifies the ones that are more valuable using machine learning.

Further, Xebra gives you several pie-charts department-wise and salary break-up for better resource understanding. You can analyze each graph with your teammates by tagging them in your comments and set monthly or quarterly alerts for revenues to ensure that you are on track to achieving your annual goals.

You can also make GST compliant e-invoices using Xebra. It is entirely Indian-ised to suit our billing processes with clients, account receivables &, more importantly, TDS & GST compliance. So you can carry out the Government of India mandated e-invoicing for your company. Xebra makes it invoicing easier with a simple one-click feature to convert your invoice into an e-invoice and get an instant QR code and IRN number on your invoice.

Furthermore, it supports multiple currencies for recording domestic and international vendors. You can record one time or recurring expenses for utilities that will save a massive amount of your time. In case of multiple GSTIN numbers in your company, you can easily select the desired one from the top bar and record business expenses under that particular GSTIN.

No more problem of resending invoices to clients as they can download them directly from the Xebra portal. Clients can get a real-time status of the amount they owe you and get a real-time statement of account on the receipt status. Clients can also check and download their relevant credit notes, with a one-click view for them, with the TDS amount deducted and payable. Similarly, all the above features are in the vendor portal as well. Lastly, you can provide or take away access to your current & past clients with a simple on/ off toggle switch.

Software #2- Freshbooks

Top features:

1. Time tracking and projects:

With your financials all in one place, Freshbooks easily allows you to do things like manage margins and cash flow or hire staff and plan for the future. Freshbooks automated business health reports tell your financial story.

2. Accounting and taxes:

Your business can't grow if your cash doesn't flow. With automated invoicing and so many easy ways for your clients to pay, Freshbooks puts your billing cycle entirely on autopilot

3. Empower Your Team to Nurture Your Clients:

User permissions in Freshbooks give your team access to help manage your books and invite clients to projects, keeping them engaged and informed all the time. There's also contractor and accountant access if you need it.

Freshbooks expenses will be ready for tax time with expense categories that make filing a breeze for you. It also provides you with an easy to Read Summary that ensures that you're staying on budget, with an easy to read a summary of your spending by category.

Additionally, you can invite employees, contractors, and clients to collaborate on projects in FreshBooks so you can keep everything in one place. If you have a project announcement, you can upload it to your Project in FreshBooks and keep everything easily accessible.

Software #3- Xero

Few Top Features:

1. Everything in one place:

Xero is a powerful all-in-one solution for your business. Run everything smoothly, keep clean records, and make compliance a breeze.

  • Automate tasks like invoicing and reporting
  • Get a full financial picture of your business
  • Make end-of-year tax returns easy

2. Connect to your bank:

Set up bank feeds from your bank accounts, so transactions are imported securely into Xero each business day.

  • Bank transactions automatically flow into Xero
  • Reconcile your bank transactions every day

3. Collaborate in real-time:

Use Xero to work with your accountant, bookkeeper, or employees, even if you're on opposite sides of the world.

  • Access the same up-to-date information at the same time
  • Leave comments and discuss business data in real-time
  • Allow employees to submit expenses, manage leave, and send invoices

You can build on your plan with add-ons like Xero Expenses and Xero Projects. Additionally, you can find and connect to third-party apps like Stripe and Vend in the Xero app marketplace.

With the help of Xero, you can keep your financials up to date. Categorize your bank transactions each day by using Xero's suggested matches, and you can quote, invoice and get paid for jobs, plus keep track of time, costs and project profitability all within Xero.

Employees on Xero can claim expenses on the go. They can take a photo of the receipts or record your mileage using the app. OCR technology scans critical information and auto-fills your claim.

You can also connect your bank to Xero to get automatic bank feeds. Your transactions flow directly into Xero each business day, so no more manual uploads. In addition, you can get feeds from any number of bank accounts and import up to 12 months of historical data when you connect.

You can add online payment options to your Xero invoices so customers everywhere can pay you by card or direct debit. For example, stripe lets your customers pay by debit or credit card and also Apple Pay. In addition, GoCardless allows customers to pay by direct debit, and few other payment solutions are also available.

You can get a complete picture of contact activity and history, plus view contact information and financial settings. You can also view account balances, including foreign currency amounts. Further, you can see a history of all invoices, payments, bills, notes and emails.

Summary

Hence, after a thorough analysis, I have come to the conclusion that Xebra biz-finance software is the best cloud accounting software that is 100% unified and extremely user friendly. It has four very affordable subscription plans (Walk, Trot, Canter and Gallop plans), which include a variety of payment options. and since cost is a major consideration in a start-up business, you might want to give Xebra a try which is specially designed for small businesses.

So stop browsing and sign up now!

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