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Running a small or medium-sized business (SME) in the Philippines comes with its unique set of challenges—whether it’s managing cash flow, tracking inventory, or staying compliant with tax regulations. The good news is that the right tools can make these tasks easier and more efficient. Xero, the cloud-based accounting software, is a powerful ally for SMEs. However, Xero’s true potential is unlocked when paired with the right add-ons. These add-ons are designed to extend Xero’s functionality and help you automate tasks, improve efficiency, and grow your business.
In this article, we’ll explore the top Xero add-ons that every SME owner in the Philippines should consider using.
Invoicing can be time-consuming, especially for SMEs that handle a large volume of transactions. The good news? Xero offers a variety of add-ons that can help you automate invoicing, saving you time and reducing human errors.
Hubdoc allows you to easily capture receipts, bills, and invoices, which are then automatically uploaded to Xero. This integration ensures that your invoices are organized, categorized, and ready for reconciliation without the need for manual input.
If you’re dealing with inventory management, QuickBooks Commerce integrates seamlessly with Xero. It allows you to automate your inventory tracking and order management while syncing all transactions back into Xero.
These invoicing and inventory add-ons allow you to streamline your processes, so you can focus on growing your business instead of getting bogged down by paperwork.
Processing payments can be a bottleneck, especially when dealing with various payment platforms. Xero offers powerful add-ons that make it easy to accept payments online and manage your accounts with ease.
Integrating PayPal or Stripe with Xero allows you to automatically import your transactions, making reconciliation much faster. These add-ons save time by connecting your online payments to Xero, helping you stay on top of your finances with minimal manual effort.
For SMEs that deal with international transactions, Wise is an excellent tool. It integrates with Xero and helps you manage cross-border payments with competitive exchange rates and low fees. This is especially helpful for Philippine SMEs that import or export products.
By using these payment add-ons, you can reduce payment processing time and ensure your financial records are always up to date.
Managing payroll can be complex, especially when you have multiple employees. Xero’s payroll add-ons help streamline the process and ensure compliance with Philippine labor laws, which can often change.
Gusto is an all-in-one payroll solution that integrates seamlessly with Xero. This add-on can automate payroll, tax calculations, and benefits management for your employees. It also provides you with the ability to file taxes directly, making payroll a hassle-free experience.
For Philippine SMEs, Xero offers a comprehensive payroll system that complies with local regulations. It allows you to manage your staff, calculate their pay, and track leave days while generating payroll reports.
By using a payroll add-on like Gusto or Xero Payroll, you can focus on growing your team and business, rather than worrying about compliance issues or payroll processing.
Financial reporting is essential for business owners to track performance, forecast trends, and make informed decisions. Xero offers powerful reporting add-ons that help SMEs gain better insights into their finances.
Fathom is a business performance and financial analysis add-on that integrates with Xero. It provides advanced financial reporting, including key performance indicators (KPIs) and trend analysis. With Fathom, you can easily create customized reports that reflect your business’s unique needs.
Spotlight Reporting is another powerful tool for SMEs that need in-depth reporting capabilities. This add-on allows you to create multi-dimensional reports, from cash flow forecasts to detailed profit and loss statements, so you can track financial progress more accurately.
With these reporting add-ons, you’ll have the data-driven insights needed to make smarter business decisions and strategically plan for growth.
As a Philippine SME, tax compliance is a critical aspect of running your business. Fortunately, Xero offers add-ons that help automate tax calculations and simplify the filing process.
TaxCalc is a tax management add-on that simplifies the filing of tax returns. It allows you to track and manage tax liabilities and deductions, ensuring that your business remains compliant with Philippine tax laws.
For businesses dealing with VAT and GST, GST+ helps automate tax calculations. It integrates directly with Xero and simplifies the process of filing VAT returns by ensuring that your financial data is always up-to-date and tax-ready.
With these tax add-ons, you can ensure that your business stays compliant with Philippine tax regulations while minimizing the risk of errors.
For Philippine SMEs, using Xero add-ons is one of the best ways to improve business efficiency and productivity. From invoicing and payments to payroll and tax compliance, these add-ons can help you save time, reduce manual errors, and ensure smooth operations. To get the most out of Xero, we recommend working with Expert CloudPro Business Solutions Inc., experts in Xero implementations and customizations. They can help tailor the right solutions to fit your unique business needs, allowing you to focus on what matters most—growing your business.
Start today by exploring the add-ons that work best for your business, and experience the transformative power of Xero.
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