Xero Managing Director, Chris Ridd, says the new Files feature within Xero “resolves the fundamental issue of financial documents being in a different place to the relevant data. Rather than sitting in filing cabinets, financial documents and images can now live seamlessly next to transactions, where they always belonged.”
Ridd says the release of Files delivers a “simple and affordable document management system to small business and empowers them to spend more time to focus on forward-looking projects.”
“The benefits of Files being ‘in the cloud’ is that now a whole myriad of business documentation can be made available anywhere, anytime and on any device and right from within the accounting software.”
“Xero now allows customers to fully manage both financial data and financial documents in the same system. This ushers in new efficiencies and opportunities for small businesses and their accountants to work together.
“Files enables businesses to manage records efficiently without having to maintain files physically in filing cabinets or separate systems” says Ridd. “By providing external branches and offices direct access to Files via the cloud, interoffice collaboration is enhanced.”
Ridd says accountants and bookkeepers will find Files reduces document handling, printing, and “cuts down hours hunting for source documents that could be anywhere.”
And, he says auditors will benefit from documents being on hand, which will especially help non-profit organisations, “who could save hundreds of dollars in audit fees annually.”