My cousin’s husband, Matt, is a hairstylist who owns his own hair salon Williamstown in inner city Canberra. He can take the most unruly, out of control hairstyle, whiz his magic and make the wearer look like any red carpet readycelebrity. Lately, he has been looking more like a tired and worn out small business owner instead of the hairstylist I know. My cousin complains that most of Matt’s time and energy these days is spent on working long hours hiring and training a revolving door of staff. Good staff are hard to find and even harder to keep. To add to his burden, he does his own bookkeeping when the salon shuts in the evening. It is normal for him to work till midnight trying to reconcile his bank accounts, generate and send out invoices and pay his bills. My cousin helps when she can; however, is working full-time herself in a job that sometimes takes her on the road. Her other job is to care for their three teenagers who are still at school. This revolving door of hiring and training the right staff has resulted in less time and energy on creating beautiful hairstyles. As a result, Matt’s business is suffering. Matt has not had a decent night’s sleep for as long as he can remember. What he really needs is a competent assistant he can trust who can take care of either the staff recruitment or accounting side of the business. As he has yet to find such an assistant, he has to do his own staff recruitment for now. However, he may be able to get assistance quicker on the accounting side through Xero accounting.
Xero accounting is an online accounting software that helps small businesses operate faster and better. With this software, Matt can access his business accounts anywhere, any time. He can invite anyone to view his accounts. He can collaborate online with his small business accountant in real-time. This software can be used on any computer system or smartphone. Matt’s stored financial data will always be up-to-date and securely stored even if his computer is lost or stolen. His bank account, credit card and PayPal transactions can be automatically imported to allow him to reconcile bank accounts in much less time and with much less paperwork. If needed, this software can automatically update foreign currency exchange rates. He can use the online invoicing feature to design his own invoice templates, receive notification when an invoice is opened, allow for immediate payment with credit card or PayPal through the invoice and automatically track payments, returns and credits. He can also integrate other computer applications with this software.
I suspect Matt will be sleeping better now that Xero accounting is taking care of his business accounting for him. With this peace of mind, he can devote more time and energy into rebuilding his hairdressing business and spending quality time with his three teenagers.