Since I began working with the Xero accounting software, I have noticed some real advantages that service businesses can profit from.
Most service businesses have similar sales and expenditure cycles. Just for fun, I’ve listed a few industries of service businesses below.
- Professional Services
- Handy Man Services
Each of these types of service businesses follow this sales cycle. In this sales cycle Xero makes work of the “Formulate Solution”, “Close the Sale”, and “Deliver and Evaluate” steps a piece of cake. Let’s see how:
- Xero mobile allows easy look-up of items (products) and prices you offer as established by owners/managers
- Xero mobile can produce an invoice for printing in your van or for sending via email, even as your talking to your customer
- Xero mobile provides the capability to mark payments the moment money is received
- Invoices created when on the phone with customers are later used by field employees on the job (no paper!)
As you can see, the back end of the sales process is close to seamless. The process can also be described from the viewpoint of the owner’s tasks.
Let’s look at what an owner has to do to his accounting system during the sales process:
- Enter customer invoice information and approve
- ….That’s it!
Since the employee in the field marks the invoice as paid all the owner has to do is enter the invoice information. No worries about the paper copy, filing cabinets, or payment entering. It’s all in Xero. Now THAT is cutting down on accounting headache. Now you just have your CPA reconcile your books for you and you’re done. Simple as that.