Xero Accounting Experts JacRox are Xero Gold Partners Experienced Chartered...
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JacRox are Xero Gold Partners
Experienced Chartered Accountants
JacRox's financial storyteller, Alex simplifies finance intricacies through Xero Accounting.
Latest posts by Alex Hartley (see all)
- How Jack Ross Can Transform Your Business With Xero - 12/04/2024
- Xero Accounting Software – Advanced Xero Features - 20/03/2024
- Why Switch to Xero? - 13/03/2024
How to Manage Multiple Businesses in Xero Like a Pro
Introduction: Why Prefer Xero for Multiple Businesses
Welcome to JacRox, a brand division of Jack Ross Chartered Accountants in Manchester. We are dedicated to offering expert Xero services to a wide variety of clients, from sole traders to large corporations. If you are in need of state-of-the-art cloud accounting software, use the contact form on the right and one of our JacRox team will be in touch to discuss next steps.
Managing multiple businesses is no small feat, and it requires a robust accounting system to keep everything in check. Xero accounting software has emerged as a preferred choice for business owners juggling multiple companies. If you are a business owner who is always on the go, let Xero streamline your accounting and bookkeeping tasks across various organisations.
Xero: More Than Just Accounting Software
Xero is not just another accounting software; it is a comprehensive platform that adapts to your specific business needs. From invoices and bills to cash flow and payroll, Xero offers a feature set that is both extensive and customisable.
The Basics: One Xero Account for Multiple Companies
One of the most significant advantages of using Xero is the ability to manage multiple businesses under one subscription. This feature allows you to have a consolidated view of different organisations right from your Xero dashboard, making it easy to keep track of your financial health across the board.
How to Add Multiple Organisations to Your Xero Account
Here is a quick guide on how to add multiple organisations in one Xero account:
- Log into Xero Central: Access your main Xero account through Xero Central.
- Navigate to ‘Organisations’: Look for the ‘Organisations’ tab and click on ‘Add an Organisation’.
- Follow the Prompts: Fill in the required details for your new organisation, including currency and financial year settings.
- Finalise: Confirm your settings and save the new organisation to your Xero account.
Xero Versus Competitors Like QuickBooks Online
While there are other accounting software options like QuickBooks Online, many users prefer Xero for its user-friendly interface and excellent mobile app capabilities. Xero also integrates seamlessly with various third-party applications like Hubdoc and Google Sheets, allowing you to streamline your accounting further.
Xero Users: Who Benefits the Most?
Small businesses and growing businesses find Xero particularly beneficial. Whether you are into retail or offer professional services, Xero’s customisable features like tracking categories and basic inventory management meet diverse business needs.
The Jack Ross Team has been an absolute delight. Professional, nice and fast during the Audit procedure. Thank you Jack Ross Team.
Very good service from the Jack Ross Team. They gave us good advice and completed a very efficient audit. They have a friendly and competent team. I would surely recommend them.
Brilliant service from the Jack Ross team in setting up several companies in very quick time, along with providing associated accountancy advice. Can recommend wholeheartedly as a leading accountancy practice with a can-do attitude.
First class service for many years from a first class team. Highly recommended. Prompt, commercially aware, personable.
Been using Jack Ross for a number of years. Good clear advice and nice people to do business with.
Jack Ross is based in Manchester and provides tax planning and Xero accounts. They are a long-standing and well-regarded firm with an excellent reputation. They provide their clients with exceptional service and a wealth of advice. I have no hesitation in using their professional services.
Jack Ross has been my accountants since I set up my business in 2016. From the outset I was helped with advice, support and encouragement. I cannot commend them highly enough. Always on hand to answer any question and responsive to any changes in the economy which might concern their clients. I don’t have to worry about the financial side of my business as all of that is taken care of and dealt with by Umar and the brilliant team. If you are looking for a top class accountancy firm which maintains the personal touch they are for you!
I would recommend this account, knowledgable and helpful
I can confidently recommend Jack Ross Accountants. They are continually improving their service, greatly benefiting our company as well as me personally. The team at Jack Ross have helped suggest and set up innovative accounting software, adding training and support. This alone has been a massive step towards having more control and understanding of our company finances.
We have enjoyed a solid and constructive relationship with JackRoss and Can highly recommend them for accountancy services.
We have been working with Jack Ross for over two years and the service has been fantastic. They have a great and knowledgable team who have taken good care of us and our accounts.
Meeting to review annual accounts and discuss future plans. Very productive as they definitely talk my language - on reflection probably the best such meeting in recent years. Many thanks Umar and Jamie
Jack Ross has serviced my Personal Tax requirements for the last 5 years. During some complicated challenges their advice was excellent and the customer service second to none and left me with no doubt all was in hand.
Following a recommendation, I have used Jack Ross for all my accounting needs (including payroll) since the inception of my business over 12 years ago. The relationship has been completely hassle free and I greatly value their service, which goes well beyond preparation of accounts. Their tax planning advice has been really helpful and I have always felt that they have ‘got my back’. Can’t recommend them enough.
We have finally found the Accountancy firm that we have been looking for! We switched over to Jack Ross towards the end of last year and from the very first contact to the recent submission of our end of year accounts the service provided has been fantastic and has easily exceeded our expectations. Thank you!
Excellent service; very helpful people and work done much quicker than I expected.
I have used Jack Ross as my accountants for a number of years. Their service is professional and accurate. They deal with queries promptly and I can always get hold of the person I need to speak to. Their digital product has made a big difference to the efficiency of my business. I would not hesitate to recommend them.
Jack Ross have been my family and business accountants and financial advisors for over 50 years. The delivery of services is second to none and i would recommend them to anyone. We have also built up great friendships over the years, above and beyond that of a normal business relationship which i value greatly.
We have been looked after by jack Ross for a number of years. They have given us fantastic tax advise and helped our company grow from strength to strength. A & f
Excellent advice and an understandable explanation of a very complex area of tax and corporate law which other (so called) advisors managed to totally confuse me. Thank you.
I have had a relationship with Jack Ross for several years and continue to be impressed by the proactive support and diligent advice received across the breadth of the firm. Excellent at signposting.
Jack Ross have acted for our law company for over 5 years and have been professional, prompt, and knowledgable in all aspects of our dealing with them.
Advanced Features: Elevate Your Xero Experience
Once you have set up your multiple organisations in one Xero account, it is time to explore Xero’s advanced features. From multi-currency support to connecting your bank accounts for real-time updates, Xero provides tools to manage complex financial landscapes.
Bank Transactions and Reconciling
One of the standout features of Xero is its ability to import bank statements, making it easier than ever to reconcile transactions. You can connect your bank accounts to Xero, and the software will automatically pull in your financial data, streamlining the reconciliation process.
Cash Flow and Financial Health
Understanding cash flow is critical for any business, let alone multiple organisations. Xero offers real-time cash flow updates, allowing you to make informed decisions based on the latest financial information. It is a feature that sets Xero apart, helping to maintain the financial health of all your businesses.
Customise and Integrate: Tailor Xero to Fit Your Needs
Customisation is where Xero truly shines. From the dashboard to invoices, Xero allows you to customise various elements to suit your organisation’s specific needs. You can also integrate with other software solutions to create a seamless accounting system.
Hubdoc and Google Sheets
Xero’s integration capabilities are second to none. You can integrate Hubdoc to automate the collection of financial documents, and use Google Sheets for advanced reporting and data analysis. These integrations make Xero work even harder for your multiple businesses.
Troubleshooting and Support: Xero Has Your Back
Even the most straightforward software can pose challenges, especially when managing multiple organisations. Xero offers excellent support, both through its online support page and email support, to help you iron out any issues or errors in Xero.
How to Access Xero Support
If you encounter challenges, Xero support is just a few clicks away:
- Log into your Xero account: Access the dashboard of the organisation you need help with.
- Navigate to Support: Click on the ‘Help’ icon to access the support page.
- Search or Ask: Use the search function to find solutions or ask a question to get personalised support.
Pro-Level Tips: Maximise Your Xero Subscription
Now that you have set up your multiple organisations and explored the advanced features and customisations, let’s delve into some pro-level tips to get the most out of your Xero subscription for each organisation.
Use of Tracking Categories
Xero allows you to use tracking categories for better financial reporting. Whether you are managing three different companies or more, these categories help you segment your income, expenses, and other financial data, providing a clearer picture of each organisation’s performance.
Time Tracking and Inventory Management
For businesses that require time tracking and inventory management, Xero offers built-in features that can be further customised. Time tracking is particularly useful for service-based businesses, while basic inventory features meet the needs of retail businesses.
One Login, Multiple Access: Simplify Your Workflow
One of the many advantages of using Xero for multiple businesses is the convenience of one login to access each organisation. This single sign-on feature simplifies your workflow, allowing you to switch between different Xero organisations effortlessly.
How to Switch Between Different Xero Organisations
- Log into your main Xero account: This will bring you to your dashboard where you can see an overview of your main business.
- Click on the organisation name at the top: A dropdown will appear, listing all the organisations linked to your Xero account.
- Select the organisation you want to access: The dashboard will update to show the selected organisation’s data.
Why Businesses Prefer Xero Over Other Accounting Software
While there are other competitors like QuickBooks Online, businesses prefer Xero for its user-friendly interface, robust feature set, and excellent mobile app. The ability to manage multiple organisations in one Xero account adds another layer to its appeal, making it an ideal choice for small businesses and growing enterprises alike.
Ready to elevate your financial management with expert Xero accounting solutions? Fill out the contact form below and a JacRox team member will be in touch to guide you through our cloud accounting services.
JacRox's financial storyteller, Alex simplifies finance intricacies through Xero Accounting.
Latest posts by Alex Hartley (see all)
- How Jack Ross Can Transform Your Business With Xero - 12/04/2024
- Xero Accounting Software – Advanced Xero Features - 20/03/2024
- Why Switch to Xero? - 13/03/2024
To manage multiple businesses in Xero Central, you should create a new account and add each business to it. You can then access each organisation’s data separately, and set up cash flow forecasts for them individually. If you would like to know more about managing multiple businesses in Xero Central, you can contact your accountant or take advantage of the free trial offered by Xero.
Yes, you can use your existing invoice data with Xero Central. You can import invoices from other software such as Google Sheets, Hubdoc or a third-party ERP if you have one. Once imported, all your invoices will be available at a single point with an audit trail.
Depending on your subscription plan, you should have access to all of your organisations’ data from the same account – each will have its own individual chart of accounts and other settings allowing for full visibility. If you are not already signed up to Xero Central, you can take advantage of the free trial period they offer.
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