March 8, 2016

3 Free Xero Add-ons that can save you time and money

by BluehubAdmin in Cloud Accounting

It’s no secret that we’re big fans of Xero.

As an all-in-one, cloud-based accounting software, it’s opened doors for hundreds of thousands of small businesses all over the world. And as experienced integrators of cloud systems, we’ve used it to help businesses of all sizes get the most out of their finances.

But that doesn’t mean it can’t be improved.

There are hundreds of Xero add-ons out there, and the options can seem overwhelming. So, we’ve picked out three of the most useful ones for small businesses in any industry.

And the best part? They’re all absolutely free.

Satago: Keeping your cash flow healthy
We’ve talked before about the importance of cash flow for small businesses. Getting paid on time is crucial and chasing slow-paying clients is both a huge time-sink and a huge headache. Luckily, Satago is a piece of free cloud software that can ease some of the financial pressure of late payments.

What does it do?
Satago helps your business get paid by:

• analysing your customers’ and suppliers’ credit risks
• automating the email reminders, you send to customers when your invoices become due
• offering cash in advance to cover up to 85% of the value of your invoices.

How does that help?
First, you can check out any potential new customers or suppliers before you start doing business with them. You’ll be able to see their credit scores and limits, and exactly when and how often they usually pay their suppliers.

Second, you won’t have to waste time chasing payments. You can set up customised templates for different reminders, and let the add-on take care of the rest – freeing up more of your time to focus on your business.

Finally, you’ll have the option of financing your invoices before they’re paid – so you can get cash in the bank when you need it, no matter how slow your customers are.

Charlie: Managing your people for free
Human resources can be a tricky beast. There’s a huge amount of legislation to get to grips with, and if you can’t justify hiring a dedicated HR executive, you could end up taking on most of the work yourself. That’s where Charlie comes in.

What does it do?
Essentially, it’s a piece of free cloud software that helps you with your staff management. Charlie can:

• guide your new starters through the first steps of joining your company
• handle your team’s benefits packages and pension plans
• track your employees’ holidays, syncing with your calendar and managing their requests for time off.

How does it help?
First, it can help you to stay compliant. Upcoming legislation will require all small businesses in the UK to automatically enrol their staff in a workplace pension scheme. Having a simple, easy platform to take care of it could save you all sorts of confusion and stress.

Second, it could free up a huge amount of time. HR can be laborious and time-intensive, and the less time you spend on admin, the more time you can spend on your most important work: finding new clients, improving your services and moving your business forward.

For now, Charlie is a free platform. And while it does have plans to introduce optional paid extras – such as the automatic enrolment system – they’ve promised to always keep their core HR services completely free.

Expensify: Making expenses simple and easy
Keeping track of your expenses can be a fiddly mess. No one wants to keep a wallet stuffed with receipts for coffee meetings, but no one wants to be left out of pocket for costs they could have avoided, either.

With a free Xero add-on like Expensify, you can stay on top of your expenses as you go. No more lost receipts, and no more boring admin.

What does it do?
Expensify makes things simple by:

• scanning receipts into your mobile device, and then automatically matching receipts to the right expense
• tracking your mileage through GPS, or clocking in your billable hours
• automatically importing all the transactions on a company credit card.

How does that help?
For a start, you won’t ever need to keep another paper receipt. By snapping a picture as soon as you get it, you can just upload the details, removing any need to manually enter in your expenses.

Second, it can save you dozens of hours in processing your expenses. You can approve and reimburse hundreds of reports in a single click, and there’s no additional cost to pay back your employees.

Finally, you can be sure that everything’s above board. You’ll get a complete report history and a full audit trail, and you can set specific rules to keep everything in line with your company policies.

Expensify is free for the rest of the year, only if you sign-up before the end of May! Check it out and sign-up now.

Wait! What is the difference between Expensify and ReceiptBank?

These free Xero add-ons are just a few of the best pieces of cloud software for saving you time and money. If they’re not what you’re looking for, or you’re still not sure what your business needs, schedule a free consultation with one of our Cloud Consultants. We’ll do the research and guide you to the best choice – so you can spend your time where it really matters.

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