Faster payments for SMEs

SMEs Payments

Xero have recently reported that UK SMEs who use online accountancy programs are getting paid 23 days quicker than they did in 2011, which is significantly improving cash flow. Xero made this revelation after analysing three million invoices UK SMEs raised over a two year period. It was discovered that, on average, businesses that use online accounting get paid 36 days after invoicing their customers. In 2011, this was around 59 days. One such online accountancy program, which Raffingers Stuart recommends, is Xero. This bookkeeping software makes life easier for businesses through streamlining the bookkeeping process and making payroll tasks simple. The software cuts down the time normally spent on the simplest of tasks, allowing businesses to:

  • Share the latest business numbers between the team and accountant
  • Connect their business bank accounts
  • Have remote access
  • Create and send professional invoices online and allowing payments online
  • Connect to add-on-apps, such as for CRM, inventory and timesheets
  • Process and organise payroll, fixed assets, expense claims, budgets, financial reports

The packages available start from as little as £12 a month and Raffingers Stuart are on hand to provide all of the necessary advice and training. To find out more about using Xero contact Lee.Manning@raffingers-stuart.co.uk
“Xero is an innovative development in the accountancy sector that will revolutionise bookkeeping and payroll. I am pleased that our clients will be able to benefit from the software.”
– Lee Manning, Partner, Raffingers