Hong Kong is an incredibly fast moving city, especially when it comes to business. As you walk through the city, past the skyscrapers, along the streets of Hong Kong, you find yourself surrounded by some of the most innovative and forward-thinking companies in the world. The world is changing at a rapid pace, and Hong Kong is no exception. Local and global events, including the pandemic, have impacted how businesses function and Hong Kong businesses are looking for modern solutions to these new challenges. One such challenge is how to simplify and streamline accounting practices while offering remote access from multiple devices.
Enter, Xero.
Xero is the world’s leading cloud accounting software. In the last few years, Xero has experienced rapid growth, with now over 2 million customers worldwide. The reason behind this success are the multiple benefits cloud accounting and Xero’s expertise provides to their millions of clients around the world.
Now enter Xero Silver Partner, Hong Kong accounting firm; Pinetree.
At Pinetree Accounting Services, we provide end-to-end accounting solutions for Hong Kong businesses looking to make the switch to Xero. Leveraging years of expertise and understanding of the Hong Kong accounting environment, coupled with our close working relationship with Xero, Pinetree can help your business start strong with Xero. No hassle, no headaches, just seamless integration into the best cloud accounting system on the market.
Vinod Menon, CEO of Pinetree testifies – “One of the biggest values our clients see in using Xero is the ease of Receivables Management. While sending quotations, raising invoices and credit notes are very efficient, the system sends out reminder emails automatically, improving collections. The very informative dashboard allows you to keep tabs on overdue invoices. Just one of the many features.”
So Why Move Your Hong Kong Business From Traditional Accounting Software To Xero?
1 – It’s easy and simple to use
One of the benefits of Xero is its ease of use and short learning curve. Traditional accounting software has not been known for its simplicity. However with Xero, you’ll find it’s been designed from the ground up with new users in mind. Everything is clear and the controls are intuitive for even the most beginner of bookkeepers. And while this simplicity makes it accessible to even those without an accounting background, it does not hold back in its power and features for the advanced accounting professionals. Beginners and accounting experts alike will quickly pickup how to use the software all while enjoying its beautifully designed user interface that looks great on both desktop and mobile.
Whether you are invoicing a customer or reconciling your bank account, you’ll find Xero’s interface is simple and straightforward.
2 – It saves time and money
One of the ways in which Xero can help you save time and money is due to what was mentioned above, its simplicity. Training costs become virtually nill, when you make the switch over to Xero. No expensive training courses necessary. With Xero’s online resources, and industry leading support if you ever get stuck, you’ll be up and running in no time. Xero’s website alone hosts a wide library of how-to guides and videos for those looking to brush up on their skills with the software.
Xero also makes it easy for you to do your job more efficiently by offering features like mobile apps, notifications and email alerts, and live reports that tell you exactly where your money is going in real time. Quickly track your various income and expenses that go into running your business and stay up to date with whats happening in your business.
3 – It’s secure
One of the benefits of the online accounting software Xero is It’s secure. The company has worked hard to ensure that your financial data is protected by using bank-grade encryption and the latest authentication methods.
Xero has won several security awards, including being named one of the most secure cloud computing providers by the Ponemon Institute.
4 – Quick setup
When working with Pinetree, we can migrate your current system to Xero quickly and easily, no matter how you were managing your books previously.
Once we have set things up, Xero can automatically pull in transactions from your records. This process takes less than five minutes and all you need to do is enter the details once — Xero will remember them going forward. Xero does the heavy lifting for you by importing all the data you need, saving hours of manual data entry every month.
5 – One account can cover multiple businesses
Keep all your businesses in one place. You can add as many companies as you want to your account, and access each one independently as needed, all from one simple login.
You can also take one business and have it split into its multiple parts, such as for different retail branches. This allows you to then choose to see all the data either separately, or combined into one single report.
6 – Ease of information organization
Xero features an integrative dashboard detailing your overall business health. In a quick glance you can see balances, expenses, profits, overdue invoices and other important indicators of the financial health of your company. Quickly access key accounting reports such as profit and loss or balance sheet all with just a few touches from the home screen.
Multiple user access allows you to give remote access to anyone in your company who needs it. Resolving bottlenecks and creating fast flow of information for business decisions.
Xero also offers basic inventory tracking so you can keep track of your inventory with ease. It also automatically suggests matches between invoices and deposits in your accounts which you now only have to verify.
7 – It makes collaboration in Hong Kong and abroad safe and easy
Xero has a feature called “invite collaborators.” This allows you to invite other people to view and edit your data without giving them access to your bank accounts. They can see only what you want them to see. And if you ever want them to have full access, it’s just a matter of changing the settings.
At Pinetree, we set up your Xero account in such a way that you can access what you need, when you need it, from wherever you are in the world, all the while allowing our accounting professionals to work on your accounts securely from Hong Kong.
8 – It’s flexible to your needs
Xero lets you customize your reports and enables you to create your own templates for things like invoices and receipts. It also allows you to categorize expenses into various groups and sub-groups set by you.
The dashboard panels are also fully customizable; you can reorganize each panel and even hide the ones you find less useful. Eliminate visual clutter in order to help you focus more on the important details contributing to your overall business health.
9 – World class 24/7 customer support by Xero
Trying to rush that last minute report out and find yourself with a technical issue at 11:45pm on a weeknight? One of the benefits of the online accounting software Xero is that it comes with an excellent customer support system available 24/7. This can be a great advantage for small businesses who do not have dedicated employees to take care of their accounts. The support team will also be able to help you with software related queries connected to your business at all hours. Talk about peace of mind!
You can contact them via phone, email or live chat. You can also send them an email if you want to get in touch with them and their response times are industry leading.
Of course, when Pinetree are managing your account we will handle all of this for you.
10 – It makes invoices, quotes, and receipts look beautiful
Invoicing with Xero is easy and convenient. You can send invoices via email directly from within the app. If you want to add some flair to your invoice design, there are numerous beautiful templates available in Xero that allow you to do so with the click of a button.
Don’t feel like the quote, invoice and receipt templates are right for your business? Thats ok, you can create your own! All are customizable and can be saved for later use.
Pinetree, as Silver Partners of Xero Can Help You Move From Traditional Accounting to Xero
Let us make the setup process even easier for you
We at Pinetree Accounting Services, have been working closely with the team at Xero for some time now in Hong Kong and are thrilled to be Silver Partners. This partnership allows us to help more businesses make the transition from traditional accounting practices to Xero easily, quickly, and cost-effectively. We can also offer you a complete range of additional accounting services such as payroll, bookkeeping, tax returns and more. Pinetree can be your complete one stop solution for your accounting needs, if that is what you’re looking for.
Our qualified team are experienced and trained experts with Xero and its implementation in the Hong Kong business environment.
We have worked with many clients, from small to large, who have successfully moved from traditional accounting methods to cloud-based services like Xero. Our consultants will work closely with you to understand your requirements and then provide a solution that meets them perfectly – whether it’s migrating from another system, or setting up an entirely new system from scratch.
Free Consultation
No matter what stage you are at in your business journey, we can help you get there faster and more efficiently through our expertise in cloud-based solutions like Xero.
Our team consists of accountants with years of experience in the industry and we are here to help guide you through any questions or concerns you may have about moving your business into the modern age with cloud computing technology.
If you’re looking for an accountant who specializes in helping businesses transition from traditional accounting systems such as cloud-based solutions such as Xero then look no further than Pinetree Accounting Services.
If you need to know more, you may contact me at vinod@pinetree.hk, call us on +852 3529 2328 or click here for your free consultation today.
