{"version":"1.0.0","segments":[{"startTime":155.17499999999998,"endTime":158.96499999999997,"body":"In today's video, I'm going"},{"startTime":155.17499999999998,"endTime":158.96499999999997,"body":"to talk about why I love Xero."},{"startTime":159.40499999999997,"endTime":163.125,"body":"I actually recorded an"},{"startTime":159.40499999999997,"endTime":163.125,"body":"entire episode about this."},{"startTime":164.14499999999998,"endTime":167.92499999999998,"body":"Basically at the very beginning of my"},{"startTime":164.14499999999998,"endTime":167.92499999999998,"body":"podcast, and now that I'm on YouTube"},{"startTime":167.92499999999998,"endTime":172.21499999999997,"body":"and years and years and years have"},{"startTime":167.92499999999998,"endTime":172.21499999999997,"body":"gone by and I still get asked the same"},{"startTime":172.21499999999997,"endTime":176.475,"body":"question, I figured it was time to"},{"startTime":172.21499999999997,"endTime":176.475,"body":"refresh this content and talk about"},{"startTime":176.475,"endTime":178.45499999999998,"body":"some of the new features that Xero has."},{"startTime":178.695,"endTime":182.785,"body":"Also linking some videos here, that"},{"startTime":178.695,"endTime":182.785,"body":"actually walk you through those features."},{"startTime":182.785,"endTime":187.46499999999997,"body":"And today is mostly just gonna be me"},{"startTime":182.785,"endTime":187.46499999999997,"body":"talking about what I love about Xero."},{"startTime":187.495,"endTime":188.90499999999997,"body":"So whether you're watching on YouTube."},{"startTime":189.753,"endTime":195.129,"body":"Or you're listening in your car on your"},{"startTime":189.753,"endTime":195.129,"body":"podcast app, you're in the right place."},{"startTime":195.849,"endTime":200.79399999999998,"body":"So first and foremost, if you"},{"startTime":195.849,"endTime":200.79399999999998,"body":"don't know who I am, I'm Serena."},{"startTime":201.184,"endTime":205.52599999999998,"body":"I am the founder and mentor at"},{"startTime":201.184,"endTime":205.52599999999998,"body":"the Ambitious Bookkeeper where"},{"startTime":205.52599999999998,"endTime":207.171,"body":"I mentor, and coach other."},{"startTime":207.183,"endTime":210.873,"body":"Bookkeepers and accountants and starting"},{"startTime":207.183,"endTime":210.873,"body":"their own virtual bookkeeping business."},{"startTime":210.963,"endTime":215.553,"body":"And I also have been running a virtual"},{"startTime":210.963,"endTime":215.553,"body":"accounting firm for on the line"},{"startTime":215.553,"endTime":217.89299999999997,"body":"businesses for the past eight years."},{"startTime":218.283,"endTime":224.113,"body":"And, it's pretty obvious if you come to"},{"startTime":218.283,"endTime":224.113,"body":"my channel that I am a Xero enthusiast."},{"startTime":224.623,"endTime":228.043,"body":"This, this video is not sponsored by Xero."},{"startTime":228.043,"endTime":232.27299999999997,"body":"However, if you are an accountant or"},{"startTime":228.043,"endTime":232.27299999999997,"body":"a bookkeeper, or even a small business"},{"startTime":232.27299999999997,"endTime":234.16299999999998,"body":"owner and you're interested in using Xero."},{"startTime":234.173,"endTime":239.033,"body":"Please do me a favor and click the link"},{"startTime":234.173,"endTime":239.033,"body":"in the description of the video or below"},{"startTime":239.033,"endTime":242.963,"body":"the show notes where you're listening to"},{"startTime":239.033,"endTime":242.963,"body":"this because that is an affiliate link and"},{"startTime":242.963,"endTime":245.548,"body":"I really do appreciate you using my link."},{"startTime":245.57799999999997,"endTime":246.84799999999998,"body":"If you're gonna sign up for Xero."},{"startTime":247.48699999999997,"endTime":251.32299999999998,"body":"Now let's get into all the"},{"startTime":247.48699999999997,"endTime":251.32299999999998,"body":"reasons why I love Xero."},{"startTime":251.353,"endTime":254.983,"body":"And it's really funny whenever I"},{"startTime":251.353,"endTime":254.983,"body":"talk about this and share stuff"},{"startTime":254.983,"endTime":258.97299999999996,"body":"like this, in the accounting world,"},{"startTime":254.983,"endTime":258.97299999999996,"body":"there's always somebody who is like,"},{"startTime":259.033,"endTime":265.183,"body":"I hate Xero because X, Y, Z. And I"},{"startTime":259.033,"endTime":265.183,"body":"really tried to love it, but I can't."},{"startTime":265.453,"endTime":266.233,"body":"And that's okay."},{"startTime":266.233,"endTime":267.373,"body":"It's not for everybody."},{"startTime":267.373,"endTime":270.853,"body":"Just like QBO isn't for everybody,"},{"startTime":267.373,"endTime":270.853,"body":"just like I'm not for everybody."},{"startTime":271.243,"endTime":273.61199999999997,"body":"But I'm gonna talk about"},{"startTime":271.243,"endTime":273.61199999999997,"body":"some of the reasons."},{"startTime":273.782,"endTime":274.772,"body":"That I love Xero."},{"startTime":274.832,"endTime":279.54200000000003,"body":"I've actually been compiling this list"},{"startTime":274.832,"endTime":279.54200000000003,"body":"all day because every time I would go"},{"startTime":279.54200000000003,"endTime":282.272,"body":"do something, I'd think of something"},{"startTime":279.54200000000003,"endTime":282.272,"body":"else and I was like, okay, I really"},{"startTime":282.272,"endTime":284.012,"body":"do need to write all of these down."},{"startTime":284.012,"endTime":287.835,"body":"I've got my handy dandy notepad,"},{"startTime":284.012,"endTime":287.835,"body":"so that I don't forget anything."},{"startTime":287.835,"endTime":290.80499999999995,"body":"And most likely I will have"},{"startTime":287.835,"endTime":290.80499999999995,"body":"forgotten something, but."},{"startTime":291.28999999999996,"endTime":294.79999999999995,"body":"I'm gonna walk through several"},{"startTime":291.28999999999996,"endTime":294.79999999999995,"body":"different areas of why I love Xero."},{"startTime":295.34,"endTime":299.777,"body":"If applicable, we might have some"},{"startTime":295.34,"endTime":299.777,"body":"graphics pop up on the screen here."},{"startTime":299.778,"endTime":301.97299999999996,"body":"but for the most part, I'm"},{"startTime":299.778,"endTime":301.97299999999996,"body":"just gonna walk you through it."},{"startTime":302.908,"endTime":305.278,"body":"Number one is the security."},{"startTime":305.698,"endTime":309.693,"body":"I came from a corporate environment"},{"startTime":305.698,"endTime":309.693,"body":"and there are certain things"},{"startTime":309.693,"endTime":313.023,"body":"that you should not be able to"},{"startTime":309.693,"endTime":313.023,"body":"do in an accounting software that"},{"startTime":313.023,"endTime":314.73299999999995,"body":"you can do in other softwares."},{"startTime":314.763,"endTime":318.903,"body":"And I will name names"},{"startTime":314.763,"endTime":318.903,"body":"like Intuit's products."},{"startTime":320.24,"endTime":322.46,"body":"has a really good audit trail, meaning."},{"startTime":322.83,"endTime":327.27,"body":"Anytime someone performs an action"},{"startTime":322.83,"endTime":327.27,"body":"in the software, it logs that,"},{"startTime":327.378,"endTime":331.773,"body":"transaction and who did it and"},{"startTime":327.378,"endTime":331.773,"body":"what time That's an audit trail."},{"startTime":332.10299999999995,"endTime":336.573,"body":"Well, in other softwares like QBO,"},{"startTime":332.10299999999995,"endTime":336.573,"body":"you can actually delete transactions,"},{"startTime":336.573,"endTime":338.22299999999996,"body":"and once you delete a transaction."},{"startTime":338.60299999999995,"endTime":341.39300000000003,"body":"Poof, the audit trail is"},{"startTime":338.60299999999995,"endTime":341.39300000000003,"body":"gone, so you can't even see"},{"startTime":341.39300000000003,"endTime":343.043,"body":"who deleted the transaction."},{"startTime":343.313,"endTime":348.14300000000003,"body":"As you can imagine, deleting"},{"startTime":343.313,"endTime":348.14300000000003,"body":"transactions can cause a disaster."},{"startTime":348.173,"endTime":353.003,"body":"It can cause you to not know"},{"startTime":348.173,"endTime":353.003,"body":"what happened with transactions."},{"startTime":353.003,"endTime":358.375,"body":"And I've spoken with XIRS"},{"startTime":353.003,"endTime":358.375,"body":"auditors and of all of the."},{"startTime":358.587,"endTime":361.91700000000003,"body":"Bookkeeping and, um, systems"},{"startTime":358.587,"endTime":361.91700000000003,"body":"that they've audited."},{"startTime":361.947,"endTime":367.317,"body":"QBO is usually the worst because of"},{"startTime":361.947,"endTime":367.317,"body":"this feature alone that you have the"},{"startTime":367.317,"endTime":372.11699999999996,"body":"ability to delete transactions and"},{"startTime":367.317,"endTime":372.11699999999996,"body":"it sometimes it's on accident and"},{"startTime":372.11699999999996,"endTime":373.407,"body":"you don't realize you're gonna do it."},{"startTime":373.407,"endTime":377.558,"body":"But, I'm an accountant and I have gone"},{"startTime":373.407,"endTime":377.558,"body":"in and I have screwed up a QBO file,"},{"startTime":377.558,"endTime":382.20799999999997,"body":"so if I can screw it up, I know that a"},{"startTime":377.558,"endTime":382.20799999999997,"body":"small business owner can too, as well."},{"startTime":382.496,"endTime":388.13599999999997,"body":"And so that leads me into the data"},{"startTime":382.496,"endTime":388.13599999999997,"body":"integrity that Xero has because"},{"startTime":388.226,"endTime":393.086,"body":"they have their software locked"},{"startTime":388.226,"endTime":393.086,"body":"down in certain ways that don't"},{"startTime":393.086,"endTime":394.88599999999997,"body":"allow you to delete transactions."},{"startTime":394.88599999999997,"endTime":397.57399999999996,"body":"You have to avoid something"},{"startTime":394.88599999999997,"endTime":397.57399999999996,"body":"when it's already posted, that"},{"startTime":397.57399999999996,"endTime":400.06399999999996,"body":"just has higher data integrity."},{"startTime":400.87,"endTime":405.413,"body":"They also have, the ability to"},{"startTime":400.87,"endTime":405.413,"body":"customize user roles and permissions."},{"startTime":405.413,"endTime":409.76300000000003,"body":"So there's certain things you can allow"},{"startTime":405.413,"endTime":409.76300000000003,"body":"somebody to just view reports only and not"},{"startTime":409.76300000000003,"endTime":414.053,"body":"action anything in the software, which is"},{"startTime":409.76300000000003,"endTime":414.053,"body":"great for some of our business owners who."},{"startTime":414.86299999999994,"endTime":418.043,"body":"Probably shouldn't be in Xero or"},{"startTime":414.86299999999994,"endTime":418.043,"body":"any accounting software, but they"},{"startTime":418.043,"endTime":419.423,"body":"wanna be able to run reports."},{"startTime":419.63300000000004,"endTime":423.653,"body":"This allows them to do that, to see"},{"startTime":419.63300000000004,"endTime":423.653,"body":"what's going on, but not make any changes."},{"startTime":424.385,"endTime":430.025,"body":"You can also invite people in that only"},{"startTime":424.385,"endTime":430.025,"body":"have access to create and view invoices,"},{"startTime":430.08500000000004,"endTime":437.18499999999995,"body":"or only have access to do accounts payable"},{"startTime":430.08500000000004,"endTime":437.18499999999995,"body":"or look at bills, and then you can Other"},{"startTime":437.18499999999995,"endTime":441.20500000000004,"body":"accountants in that have advisor role"},{"startTime":437.18499999999995,"endTime":441.20500000000004,"body":"permissions, so there's a lot of different"},{"startTime":441.20500000000004,"endTime":446.395,"body":"permission levels that you can create and"},{"startTime":441.20500000000004,"endTime":446.395,"body":"use within Xero that makes it a lot safer"},{"startTime":446.395,"endTime":449.095,"body":"of an environment and higher security."},{"startTime":449.29499999999996,"endTime":451.06899999999996,"body":"I already talked about system controls."},{"startTime":451.06899999999996,"endTime":455.779,"body":"That was kind of like the voiding"},{"startTime":451.06899999999996,"endTime":455.779,"body":"transactions versus deleting them."},{"startTime":456.134,"endTime":461.36,"body":"one of the other system controls that they"},{"startTime":456.134,"endTime":461.36,"body":"have in place is that you can't create a"},{"startTime":461.36,"endTime":464.56999999999994,"body":"transaction without a contact or a vendor."},{"startTime":464.85,"endTime":468.53999999999996,"body":", So you cannot create an invoice"},{"startTime":464.85,"endTime":468.53999999999996,"body":"or you cannot create a bill"},{"startTime":468.53999999999996,"endTime":469.89,"body":"without a vendor name in there."},{"startTime":469.89,"endTime":474.80999999999995,"body":"In a system like QBO, you can actually"},{"startTime":469.89,"endTime":474.80999999999995,"body":"create transactions without vendor names."},{"startTime":475.33000000000004,"endTime":479.03,"body":"And, , we migrate all of our"},{"startTime":475.33000000000004,"endTime":479.03,"body":"clients to Xero for free."},{"startTime":479.05999999999995,"endTime":483.28999999999996,"body":"And we've found that that's usually one"},{"startTime":479.05999999999995,"endTime":483.28999999999996,"body":"of the biggest issues when we're cleaning"},{"startTime":483.28999999999996,"endTime":488.39,"body":"up a file, is having to assign a vendor"},{"startTime":483.28999999999996,"endTime":488.39,"body":"name on every single transaction because"},{"startTime":488.39,"endTime":490.90999999999997,"body":"the last bookkeeper maybe was lazy."},{"startTime":491.17999999999995,"endTime":494.78,"body":"Also, QBO doesn't alert you that"},{"startTime":491.17999999999995,"endTime":494.78,"body":"you forgot to put in a vendor name."},{"startTime":494.78,"endTime":498.40999999999997,"body":"It'll just let you post a transaction,"},{"startTime":494.78,"endTime":498.40999999999997,"body":"all sorts of stuff like that."},{"startTime":498.64300000000003,"endTime":500.033,"body":"that's one of the things we really like."},{"startTime":500.033,"endTime":504.80899999999997,"body":"You have to have a contact name for every"},{"startTime":500.033,"endTime":504.80899999999997,"body":"transaction, unless it's a journal entry."},{"startTime":505.02599999999995,"endTime":508.41599999999994,"body":"so those are some of the security"},{"startTime":505.02599999999995,"endTime":508.41599999999994,"body":"features that I really love."},{"startTime":508.986,"endTime":512.107,"body":"Uh, lastly it is, it"},{"startTime":508.986,"endTime":512.107,"body":"was built for the cloud."},{"startTime":512.137,"endTime":514.867,"body":"QBO started out as a desktop software."},{"startTime":514.957,"endTime":516.877,"body":"Xero has always been on the cloud."},{"startTime":516.877,"endTime":517.957,"body":"It was born on the cloud."},{"startTime":517.957,"endTime":521.677,"body":"They built it for the cloud"},{"startTime":517.957,"endTime":521.677,"body":"from day one, they have designed"},{"startTime":521.677,"endTime":526.207,"body":"their system to function on the"},{"startTime":521.677,"endTime":526.207,"body":"cloud and be top level security."},{"startTime":526.851,"endTime":530.934,"body":"they also vet their app"},{"startTime":526.851,"endTime":530.934,"body":"partners extensively."},{"startTime":531.294,"endTime":535.494,"body":"Apparently, it's pretty hard to become"},{"startTime":531.294,"endTime":535.494,"body":"a partner, like an integrated app with"},{"startTime":535.494,"endTime":540.114,"body":"Xero, and there's still other things"},{"startTime":535.494,"endTime":540.114,"body":"that they don't allow apps to do that you"},{"startTime":540.114,"endTime":542.364,"body":"can do with other apps connected to QBO."},{"startTime":542.818,"endTime":546.3969999999999,"body":"where you can actually make changes"},{"startTime":542.818,"endTime":546.3969999999999,"body":"to the QBO file through another app."},{"startTime":546.3969999999999,"endTime":547.537,"body":"You can't do that in Xero."},{"startTime":547.537,"endTime":550.537,"body":"You have to do everything actually"},{"startTime":547.537,"endTime":550.537,"body":"through Xero, which that's one of the"},{"startTime":550.537,"endTime":553.1469999999999,"body":"features that a lot of bookkeepers"},{"startTime":550.537,"endTime":553.1469999999999,"body":"don't like, because they wanna be"},{"startTime":553.1469999999999,"endTime":557.245,"body":"able to have another app that sits on"},{"startTime":553.1469999999999,"endTime":557.245,"body":"top of, the software that they can,"},{"startTime":557.305,"endTime":559.435,"body":"you know, change things around in."},{"startTime":559.435,"endTime":562.0749999999999,"body":"And I get why it's, it's not a thing."},{"startTime":562.0749999999999,"endTime":564.715,"body":"And I also get why people"},{"startTime":562.0749999999999,"endTime":564.715,"body":"wanna be able to do that."},{"startTime":564.715,"endTime":565.615,"body":"I see both sides."},{"startTime":565.975,"endTime":570.838,"body":"but I appreciate having, Data"},{"startTime":565.975,"endTime":570.838,"body":"integrity and not having a"},{"startTime":570.838,"endTime":572.398,"body":"mess of books on my hands."},{"startTime":572.9979999999999,"endTime":577.36,"body":"Okay, my number two favorite,"},{"startTime":572.9979999999999,"endTime":577.36,"body":"feature and why I really love"},{"startTime":577.36,"endTime":581.9499999999999,"body":"Xero and why we are a hundred"},{"startTime":577.36,"endTime":581.9499999999999,"body":"percent Xero firm is the reporting."},{"startTime":581.9499999999999,"endTime":585.64,"body":"And this kind of ties into"},{"startTime":581.9499999999999,"endTime":585.64,"body":"efficiency, which I'm gonna talk"},{"startTime":585.64,"endTime":589.268,"body":"about in a minute as well, with the"},{"startTime":585.64,"endTime":589.268,"body":"way that the reporting structure"},{"startTime":589.268,"endTime":592.1179999999999,"body":"is built in Xero, no matter what."},{"startTime":592.478,"endTime":595.328,"body":"Each client's chart of accounts"},{"startTime":592.478,"endTime":595.328,"body":"looks like, like all the different"},{"startTime":595.328,"endTime":597.788,"body":"categories they have, we can create, um."},{"startTime":598.254,"endTime":602.274,"body":"The same reports that can get run"},{"startTime":598.254,"endTime":602.274,"body":"down in every single client without"},{"startTime":602.274,"endTime":604.194,"body":"recreating it within each client."},{"startTime":604.314,"endTime":610.872,"body":"And so, Xero uses a report, mapping code"},{"startTime":604.314,"endTime":610.872,"body":"thing that allows us to create a standard"},{"startTime":610.872,"endTime":615.5169999999999,"body":"set of reports from the firm level and"},{"startTime":610.872,"endTime":615.5169999999999,"body":"then run it within each client file."},{"startTime":615.822,"endTime":620.677,"body":"And that cuts down on so much time"},{"startTime":615.822,"endTime":620.677,"body":"because when I was working in QBO."},{"startTime":621.489,"endTime":624.843,"body":"And running reports for clients, I"},{"startTime":621.489,"endTime":624.843,"body":"have to design that same reporting"},{"startTime":624.843,"endTime":626.853,"body":"package within each client file."},{"startTime":626.943,"endTime":630.1229999999999,"body":"And you can imagine if you"},{"startTime":626.943,"endTime":630.1229999999999,"body":"have 20 clients, that's a lot"},{"startTime":630.153,"endTime":633.933,"body":"of custom report creation."},{"startTime":634.443,"endTime":640.126,"body":"And also the way they export doesn't"},{"startTime":634.443,"endTime":640.126,"body":"have all the columns, like percentages"},{"startTime":640.126,"endTime":644.506,"body":"and things that I want on my"},{"startTime":640.126,"endTime":644.506,"body":"reports when I give them to clients."},{"startTime":644.731,"endTime":648.841,"body":"And in Xero, we can customize that,"},{"startTime":644.731,"endTime":648.841,"body":"build it into the reports, and then"},{"startTime":648.841,"endTime":652.811,"body":"run it on every client without having"},{"startTime":648.841,"endTime":652.811,"body":"to, , export it to Excel, put in"},{"startTime":652.811,"endTime":654.371,"body":"the columns and the percentages."},{"startTime":654.371,"endTime":658.601,"body":"And that's again, room for more"},{"startTime":654.371,"endTime":658.601,"body":"error and issues with formulas."},{"startTime":658.804,"endTime":663.8739999999999,"body":"The other really cool thing that is"},{"startTime":658.804,"endTime":663.8739999999999,"body":"similar to reporting, but is, is something"},{"startTime":663.8739999999999,"endTime":669.2389999999999,"body":"that we have access on the, partner level"},{"startTime":663.8739999999999,"endTime":669.2389999999999,"body":"at in Xero hq, if you're a, an account"},{"startTime":669.2389999999999,"endTime":672.389,"body":"partner, you have access to be able to."},{"startTime":672.702,"endTime":677.232,"body":"create a custom chart of accounts and"},{"startTime":672.702,"endTime":677.232,"body":"save it into HQ so that when you create"},{"startTime":677.232,"endTime":682.122,"body":"a new client, if you work with clients"},{"startTime":677.232,"endTime":682.122,"body":"across one industry and you're a niche"},{"startTime":682.122,"endTime":685.4219999999999,"body":"down and you have a specific chart"},{"startTime":682.122,"endTime":685.4219999999999,"body":"of accounts that you want to give to"},{"startTime":685.4219999999999,"endTime":687.972,"body":"each client, you can just select it."},{"startTime":687.972,"endTime":690.462,"body":"You import it in there, and"},{"startTime":687.972,"endTime":690.462,"body":"then you just select it when"},{"startTime":690.462,"endTime":692.082,"body":"you're creating a new file and."},{"startTime":692.562,"endTime":697.1519999999999,"body":"Boom, your chart of accounts is there"},{"startTime":692.562,"endTime":697.1519999999999,"body":"for the new client without you having"},{"startTime":697.1519999999999,"endTime":702.4209999999999,"body":"to use the basic chart of accounts"},{"startTime":697.1519999999999,"endTime":702.4209999999999,"body":"that comes in canned in QBO, and"},{"startTime":702.4209999999999,"endTime":706.651,"body":"then change all the accounts that you"},{"startTime":702.4209999999999,"endTime":706.651,"body":"don't like and remove the accounts you"},{"startTime":706.651,"endTime":708.661,"body":"don't want and add different accounts."},{"startTime":708.661,"endTime":711.751,"body":"It just creates, again,"},{"startTime":708.661,"endTime":711.751,"body":"so much more efficiency."},{"startTime":712.156,"endTime":716.731,"body":"one of the other things that has to"},{"startTime":712.156,"endTime":716.731,"body":"do with, reporting is the ability"},{"startTime":716.731,"endTime":722.5409999999999,"body":"to toggle between true cash basis"},{"startTime":716.731,"endTime":722.5409999999999,"body":"and true accrual basis in Xero."},{"startTime":722.7059999999999,"endTime":728.187,"body":"and that's because in QBO, when you"},{"startTime":722.7059999999999,"endTime":728.187,"body":"book a journal entry and this, if"},{"startTime":728.187,"endTime":730.6769999999999,"body":"you're a business owner, this is"},{"startTime":728.187,"endTime":730.6769999999999,"body":"probably gonna go way over your head."},{"startTime":730.6769999999999,"endTime":733.0519999999999,"body":"But if you're an accountant,"},{"startTime":730.6769999999999,"endTime":733.0519999999999,"body":"you know what I'm talking about."},{"startTime":733.202,"endTime":734.372,"body":"When you book a journal entry."},{"startTime":734.942,"endTime":739.8019999999999,"body":"In QBO, it's gonna show up on all your"},{"startTime":734.942,"endTime":739.8019999999999,"body":"reports, whether you run a cash basis"},{"startTime":739.8019999999999,"endTime":744.3919999999999,"body":"or accrual basis in Xero, you get to"},{"startTime":739.8019999999999,"endTime":744.3919999999999,"body":"decide if you want that journal entry"},{"startTime":744.3919999999999,"endTime":746.462,"body":"to show up on cash basis reports."},{"startTime":746.882,"endTime":751.562,"body":"So effectively, if you're booking"},{"startTime":746.882,"endTime":751.562,"body":"accruals, you don't want those journal"},{"startTime":751.562,"endTime":755.492,"body":"entries showing up on cash basis"},{"startTime":751.562,"endTime":755.492,"body":"reports, but you wanna be able to"},{"startTime":755.492,"endTime":757.382,"body":"have accurate cash basis reports."},{"startTime":757.382,"endTime":760.262,"body":"A lot of small businesses want to see."},{"startTime":761.492,"endTime":764.312,"body":"How much cash actually came"},{"startTime":761.492,"endTime":764.312,"body":"in versus went out in a month."},{"startTime":764.41,"endTime":766.6189999999999,"body":"so it's really easy to"},{"startTime":764.41,"endTime":766.6189999999999,"body":"toggle between the two."},{"startTime":766.769,"endTime":774.029,"body":"The other aspect of, kind of in line with"},{"startTime":766.769,"endTime":774.029,"body":"that is the cash flow statement that is"},{"startTime":774.029,"endTime":776.039,"body":"built into Xero is the direct method."},{"startTime":776.039,"endTime":778.27,"body":"And, in QBO it's the indirect method."},{"startTime":778.7199999999999,"endTime":780.9399999999999,"body":"The indirect method,"},{"startTime":778.7199999999999,"endTime":780.9399999999999,"body":"and the direct method."},{"startTime":781.084,"endTime":784.861,"body":"come to the same conclusion, but the"},{"startTime":781.084,"endTime":784.861,"body":"way it looks is really confusing To"},{"startTime":784.861,"endTime":789.727,"body":"try to explain to a non accountant to"},{"startTime":784.861,"endTime":789.727,"body":"explain the indirect cash flow statement"},{"startTime":789.727,"endTime":792.967,"body":"is rather difficult, but in Xero."},{"startTime":793.0269999999999,"endTime":794.5269999999999,"body":"It's pretty straightforward."},{"startTime":794.707,"endTime":797.8069999999999,"body":"As long as you have your chart of"},{"startTime":794.707,"endTime":797.8069999999999,"body":"accounts mapped correctly, you can,"},{"startTime":797.9259999999999,"endTime":801.0759999999999,"body":"very easily explain what's going"},{"startTime":797.9259999999999,"endTime":801.0759999999999,"body":"on in the cash flow statement."},{"startTime":802.471,"endTime":802.9509999999999,"body":"All right."},{"startTime":802.9509999999999,"endTime":805.741,"body":"A third area of why I love Xero."},{"startTime":807.161,"endTime":811.6809999999999,"body":"It was built with advisors and"},{"startTime":807.161,"endTime":811.6809999999999,"body":"small business owners in mind."},{"startTime":811.8009999999999,"endTime":817.288,"body":"And what I mean by that, as a partner,"},{"startTime":811.8009999999999,"endTime":817.288,"body":"we're considered advisors in, the"},{"startTime":817.298,"endTime":825.102,"body":"Xero World and Xero actually was"},{"startTime":817.298,"endTime":825.102,"body":"developed in Australia, I believe."},{"startTime":825.372,"endTime":829.0319999999999,"body":"I'm pretty sure it was Australia,"},{"startTime":825.372,"endTime":829.0319999999999,"body":"not the uk, one of the two, but."},{"startTime":829.692,"endTime":830.562,"body":"Either way."},{"startTime":830.9219999999999,"endTime":835.0319999999999,"body":"Xero has been very popular in pretty"},{"startTime":830.9219999999999,"endTime":835.0319999999999,"body":"much the rest of the world, other"},{"startTime":835.0319999999999,"endTime":839.952,"body":"than the US and the way that they"},{"startTime":835.0319999999999,"endTime":839.952,"body":"handle things in Australia and the uk."},{"startTime":839.952,"endTime":843.102,"body":"People don't start businesses"},{"startTime":839.952,"endTime":843.102,"body":"and wait to hire an accountant."},{"startTime":843.5219999999999,"endTime":846.072,"body":"They hire an accountant, and"},{"startTime":843.5219999999999,"endTime":846.072,"body":"then they start businesses."},{"startTime":846.072,"endTime":849.192,"body":"So they have a relationship"},{"startTime":846.072,"endTime":849.192,"body":"with an accountant from day one."},{"startTime":849.192,"endTime":850.212,"body":"I really wish."},{"startTime":850.587,"endTime":853.2869999999999,"body":"The US operated this way, but they don't."},{"startTime":853.3549999999999,"endTime":855.755,"body":"it's just the way they have"},{"startTime":853.3549999999999,"endTime":855.755,"body":"their regulations set up there."},{"startTime":855.755,"endTime":859.3549999999999,"body":"It's like you have to have an"},{"startTime":855.755,"endTime":859.3549999999999,"body":"accountant to be able to run a business."},{"startTime":859.8349999999999,"endTime":864.188,"body":"And, here it's a little bit backwards,"},{"startTime":859.8349999999999,"endTime":864.188,"body":"but because that business culture"},{"startTime":864.188,"endTime":871.3209999999999,"body":"existed where this program was originally"},{"startTime":864.188,"endTime":871.3209999999999,"body":"developed, it was built with the advisor"},{"startTime":871.381,"endTime":873.391,"body":"and the small business owner in mind."},{"startTime":873.7959999999999,"endTime":875.9259999999999,"body":"Where they were going to"},{"startTime":873.7959999999999,"endTime":875.9259999999999,"body":"be partnering together."},{"startTime":876.1959999999999,"endTime":882.092,"body":"So with that, Xero has amazing"},{"startTime":876.1959999999999,"endTime":882.092,"body":"customer support and they don't"},{"startTime":882.092,"endTime":884.252,"body":"compete with us like QBO does."},{"startTime":884.252,"endTime":889.717,"body":"QBO has their own QuickBooks Live,"},{"startTime":884.252,"endTime":889.717,"body":"a team of bookkeepers that they are"},{"startTime":889.717,"endTime":896.156,"body":"constantly pushing QBO users, business"},{"startTime":889.717,"endTime":896.156,"body":"owners, to opt into that service"},{"startTime":896.156,"endTime":898.1659999999999,"body":"rather than working with an accountant."},{"startTime":898.1959999999999,"endTime":904.847,"body":"And so a lot of accountants, feel a"},{"startTime":898.1959999999999,"endTime":904.847,"body":"little bit jaded in that regard because"},{"startTime":904.847,"endTime":908.957,"body":"they feel like QBO is competing with"},{"startTime":904.847,"endTime":908.957,"body":"them and they really shouldn't be."},{"startTime":908.987,"endTime":912.708,"body":"They should be supporting, US"},{"startTime":908.987,"endTime":912.708,"body":"bookkeepers and accountants because we"},{"startTime":912.708,"endTime":916.848,"body":"are the ones that bring them clients"},{"startTime":912.708,"endTime":916.848,"body":"and set them up on their software."},{"startTime":917.3829999999999,"endTime":921.476,"body":"So Xero really has that down, pretty well."},{"startTime":921.559,"endTime":927.759,"body":"another, component of having it being"},{"startTime":921.559,"endTime":927.759,"body":"built with advisors, in mind is b. Like"},{"startTime":927.759,"endTime":929.559,"body":"I said, the customer support is amazing."},{"startTime":929.559,"endTime":933.429,"body":"I usually get a response and get"},{"startTime":929.559,"endTime":933.429,"body":"things resolved within 24 hours without"},{"startTime":933.429,"endTime":937.161,"body":"having to be on the phone and on"},{"startTime":933.429,"endTime":937.161,"body":"hold and talking to a million people"},{"startTime":937.161,"endTime":938.1809999999999,"body":"that don't know what they're doing."},{"startTime":938.1809999999999,"endTime":941.481,"body":"I've never had to escalate my ticket to."},{"startTime":941.786,"endTime":943.7059999999999,"body":"Someone higher that could help me."},{"startTime":943.736,"endTime":948.146,"body":"Whoever was first to try to help"},{"startTime":943.736,"endTime":948.146,"body":"me has usually resolved it, and"},{"startTime":948.146,"endTime":950.396,"body":"they're usually pretty minor issues."},{"startTime":951.352,"endTime":957.1419999999999,"body":"there's also a Find and Recode tool, which"},{"startTime":951.352,"endTime":957.1419999999999,"body":"kinda leads me into the fourth area of."},{"startTime":958.217,"endTime":961.776,"body":"Efficiency and, QBO has a similar tool."},{"startTime":961.776,"endTime":964.506,"body":"They have like an an accountants"},{"startTime":961.776,"endTime":964.506,"body":"toolbox where you can, it's"},{"startTime":964.506,"endTime":966.006,"body":"called the reclassify tool."},{"startTime":966.5459999999999,"endTime":967.896,"body":"Xero has something similar."},{"startTime":967.896,"endTime":969.1859999999999,"body":"It's called Find and Recode."},{"startTime":969.1859999999999,"endTime":971.1959999999999,"body":"You can, but there, it's more robust."},{"startTime":971.1959999999999,"endTime":978.216,"body":"You can filter on date ranges, on"},{"startTime":971.1959999999999,"endTime":978.216,"body":"accounts, on contact names, and you"},{"startTime":978.216,"endTime":982.266,"body":"can recode not only where it was"},{"startTime":978.216,"endTime":982.266,"body":"categorized, but you can recode who"},{"startTime":982.266,"endTime":984.396,"body":"the contact was if you accidentally."},{"startTime":985.1709999999999,"endTime":989.127,"body":"Created a bunch of transactions with the"},{"startTime":985.1709999999999,"endTime":989.127,"body":"wrong vendor name or something like that."},{"startTime":989.1379999999999,"endTime":992.423,"body":"it's a little more flexible than"},{"startTime":989.1379999999999,"endTime":992.423,"body":"the reclassified tool in QBO."},{"startTime":992.5799999999999,"endTime":996.231,"body":"something else that makes Xero"},{"startTime":992.5799999999999,"endTime":996.231,"body":"more efficient for us is it"},{"startTime":996.231,"endTime":1000.0709999999999,"body":"has a very clean, simple, and"},{"startTime":996.231,"endTime":1000.0709999999999,"body":"beautiful interface, in my opinion."},{"startTime":1000.1289999999999,"endTime":1001.689,"body":"others might say that."},{"startTime":1002.0039999999999,"endTime":1006.054,"body":"It's really basic and"},{"startTime":1002.0039999999999,"endTime":1006.054,"body":"boring or like dated."},{"startTime":1006.324,"endTime":1011.1239999999999,"body":"They have updated their interface"},{"startTime":1006.324,"endTime":1011.1239999999999,"body":"over the last year or so, and"},{"startTime":1011.1239999999999,"endTime":1013.7339999999999,"body":"to me it's, it looks modern."},{"startTime":1013.794,"endTime":1014.7239999999999,"body":"I don't know."},{"startTime":1014.9639999999999,"endTime":1018.654,"body":"I would rather log into something"},{"startTime":1014.9639999999999,"endTime":1018.654,"body":"that looks clean and simple than"},{"startTime":1018.654,"endTime":1022.8539999999999,"body":"something that is overwhelming and"},{"startTime":1018.654,"endTime":1022.8539999999999,"body":"every time I log in it looks different."},{"startTime":1023.0029999999999,"endTime":1027.778,"body":"I. I'm trying not to make this"},{"startTime":1023.0029999999999,"endTime":1027.778,"body":"A QBO Bash session, but I'm"},{"startTime":1027.778,"endTime":1030.238,"body":"just giving you the comparisons."},{"startTime":1030.388,"endTime":1033.388,"body":"When I log into QBO, I get overwhelmed."},{"startTime":1033.478,"endTime":1038.068,"body":"I get frustrated because I can't find"},{"startTime":1033.478,"endTime":1038.068,"body":"things that I used to know where they are."},{"startTime":1038.338,"endTime":1041.608,"body":"There's so much in there that I have"},{"startTime":1038.338,"endTime":1041.608,"body":"to sift through, and I really only need"},{"startTime":1041.608,"endTime":1045.238,"body":"to get to like one or two different"},{"startTime":1041.608,"endTime":1045.238,"body":"places in the platform, but there's"},{"startTime":1045.238,"endTime":1047.458,"body":"so much extra stuff in there that it."},{"startTime":1047.728,"endTime":1050.278,"body":"It's, if it's overwhelming for"},{"startTime":1047.728,"endTime":1050.278,"body":"an accountant, it's gotta be"},{"startTime":1050.278,"endTime":1051.808,"body":"overwhelming for business owners."},{"startTime":1051.898,"endTime":1055.078,"body":"And so if you're a business owner"},{"startTime":1051.898,"endTime":1055.078,"body":"watching this and you feel that way"},{"startTime":1055.078,"endTime":1059.848,"body":"when you log into QBO, you're not"},{"startTime":1055.078,"endTime":1059.848,"body":"alone and there's a better option."},{"startTime":1060.406,"endTime":1065.887,"body":"So, the clean and simple user interface"},{"startTime":1060.406,"endTime":1065.887,"body":"and it's modern, if you're like a designer"},{"startTime":1065.887,"endTime":1070.177,"body":"or someone who has a visual eye for"},{"startTime":1065.887,"endTime":1070.177,"body":"things, I think you're gonna love Xero."},{"startTime":1070.387,"endTime":1074.345,"body":"So definitely check out some of my other"},{"startTime":1070.387,"endTime":1074.345,"body":"videos where I actually demo some things."},{"startTime":1075.078,"endTime":1080.568,"body":"Another efficiency tool that we have"},{"startTime":1075.078,"endTime":1080.568,"body":"access to in Xero, and it's available"},{"startTime":1080.568,"endTime":1083.358,"body":"on every plan, every business plan."},{"startTime":1083.358,"endTime":1086.753,"body":"There's partner only plans where, I'll"},{"startTime":1083.358,"endTime":1086.753,"body":"talk about that in a different video."},{"startTime":1086.753,"endTime":1090.023,"body":"But if you're a business owner,"},{"startTime":1086.753,"endTime":1090.023,"body":"there's three plans that you can"},{"startTime":1090.023,"endTime":1093.353,"body":"be on early growing or established."},{"startTime":1093.469,"endTime":1099.397,"body":"and on all three of those plans, you"},{"startTime":1093.469,"endTime":1099.397,"body":"have access to a tool called cash coding."},{"startTime":1099.397,"endTime":1100.627,"body":"So when you are."},{"startTime":1100.972,"endTime":1103.492,"body":"Working on coding all of"},{"startTime":1100.972,"endTime":1103.492,"body":"your bank transactions."},{"startTime":1103.52,"endTime":1107.328,"body":"if you have Stripe connected for example,"},{"startTime":1103.52,"endTime":1107.328,"body":"or PayPal and you have a lot of the same"},{"startTime":1107.328,"endTime":1112.1580000000001,"body":"transactions coming in, you can actually"},{"startTime":1107.328,"endTime":1112.1580000000001,"body":"just go to the cash coding tab and mass"},{"startTime":1112.1580000000001,"endTime":1116.568,"body":"code hundreds of transactions at once."},{"startTime":1116.808,"endTime":1120.318,"body":"And so that's one feature"},{"startTime":1116.808,"endTime":1120.318,"body":"that has enabled us to."},{"startTime":1121.053,"endTime":1126.144,"body":"Offer our clients, instead of charging by"},{"startTime":1121.053,"endTime":1126.144,"body":"transaction volume and things like that,"},{"startTime":1126.144,"endTime":1129.834,"body":"because of the nature of a lot of our"},{"startTime":1126.144,"endTime":1129.834,"body":"clients' businesses, they have launches."},{"startTime":1129.984,"endTime":1133.044,"body":"And so there's some months where"},{"startTime":1129.984,"endTime":1133.044,"body":"there's thousands of transactions,"},{"startTime":1133.044,"endTime":1135.7740000000001,"body":"and then there's some months"},{"startTime":1133.044,"endTime":1135.7740000000001,"body":"when there's only a hundred."},{"startTime":1135.984,"endTime":1139.344,"body":"And so we don't wanna penalize"},{"startTime":1135.984,"endTime":1139.344,"body":"and fluctuate the pricing"},{"startTime":1139.344,"endTime":1140.634,"body":"every time they launch."},{"startTime":1140.634,"endTime":1142.734,"body":"And so we've been able to just say."},{"startTime":1143.439,"endTime":1146.799,"body":"In those situations, 'cause it's all"},{"startTime":1143.439,"endTime":1146.799,"body":"pretty much the same transaction."},{"startTime":1147.189,"endTime":1151.3890000000001,"body":"We have a tool that makes us really"},{"startTime":1147.189,"endTime":1151.3890000000001,"body":"efficient, so we're not gonna upcharge"},{"startTime":1151.3890000000001,"endTime":1153.2640000000001,"body":"you for increased volume one month."},{"startTime":1154.012,"endTime":1158.542,"body":"so the cash co coding, there's also"},{"startTime":1154.012,"endTime":1158.542,"body":"bank rules that you can set up, and now"},{"startTime":1158.5720000000001,"endTime":1164.571,"body":"we have access in beta when this video"},{"startTime":1158.5720000000001,"endTime":1164.571,"body":"goes live, to auto bank reconciliation,"},{"startTime":1164.571,"endTime":1167.271,"body":"which is an AI feature in Xero."},{"startTime":1167.361,"endTime":1170.606,"body":"And I have another video I will"},{"startTime":1167.361,"endTime":1170.606,"body":"link here, or at the end of this"},{"startTime":1170.606,"endTime":1174.122,"body":"video that, I walk through that"},{"startTime":1170.606,"endTime":1174.122,"body":"so you can see how that works."},{"startTime":1174.428,"endTime":1179.198,"body":"another efficiency tool is that they, I"},{"startTime":1174.428,"endTime":1179.198,"body":"mentioned Stripe a moment ago, and this"},{"startTime":1179.198,"endTime":1186.0980000000002,"body":"is one of the big reasons why we love Xero"},{"startTime":1179.198,"endTime":1186.0980000000002,"body":"for our clients, especially because a lot"},{"startTime":1186.0980000000002,"endTime":1190.3880000000001,"body":"of our clients, most of our clients use"},{"startTime":1186.0980000000002,"endTime":1190.3880000000001,"body":"Stripe and PayPal as payment processors."},{"startTime":1190.748,"endTime":1194.258,"body":"In QBO, you actually, you can"},{"startTime":1190.748,"endTime":1194.258,"body":"connect PayPal, but Stripe."},{"startTime":1194.5430000000001,"endTime":1197.873,"body":"You have to use a third party"},{"startTime":1194.5430000000001,"endTime":1197.873,"body":"app to get that to integrate and"},{"startTime":1197.873,"endTime":1199.7330000000002,"body":"it costs extra money in Xero."},{"startTime":1199.7930000000001,"endTime":1203.2730000000001,"body":"It connects just like a bank"},{"startTime":1199.7930000000001,"endTime":1203.2730000000001,"body":"account, direct feed, all the"},{"startTime":1203.2730000000001,"endTime":1207.143,"body":"transactions with the descriptions"},{"startTime":1203.2730000000001,"endTime":1207.143,"body":"and everything feeds right in."},{"startTime":1207.143,"endTime":1211.479,"body":"And so we can create bank rules"},{"startTime":1207.143,"endTime":1211.479,"body":"and reconcile your payment"},{"startTime":1211.479,"endTime":1213.0990000000002,"body":"processors really easily."},{"startTime":1213.43,"endTime":1217.2830000000001,"body":"there's also direct feeds with some"},{"startTime":1213.43,"endTime":1217.2830000000001,"body":"of the bigger banks like Wells Fargo,"},{"startTime":1217.2830000000001,"endTime":1221.963,"body":"and then of course they have a direct"},{"startTime":1217.2830000000001,"endTime":1221.963,"body":"feed with Relay, which I love Relay."},{"startTime":1221.963,"endTime":1223.0430000000001,"body":"It's an online bank."},{"startTime":1223.093,"endTime":1227.5030000000002,"body":"and over the eight years that I've"},{"startTime":1223.093,"endTime":1227.5030000000002,"body":"been banking with Relay, I've only"},{"startTime":1227.5030000000002,"endTime":1231.617,"body":"seen their bank feeds break maybe"},{"startTime":1227.5030000000002,"endTime":1231.617,"body":"once or twice, which is amazing."},{"startTime":1232.0520000000001,"endTime":1236.912,"body":"Because when you look at banks"},{"startTime":1232.0520000000001,"endTime":1236.912,"body":"like American Express or even Wells"},{"startTime":1236.912,"endTime":1242.526,"body":"Fargo, that do have direct feeds"},{"startTime":1236.912,"endTime":1242.526,"body":"with Xero, those tend to break and"},{"startTime":1242.526,"endTime":1244.386,"body":"have to be reconnected fairly often."},{"startTime":1245.316,"endTime":1250.852,"body":"And lastly, with efficiency, we have"},{"startTime":1245.316,"endTime":1250.852,"body":"access to a tool that is, owned by Xero."},{"startTime":1250.857,"endTime":1252.741,"body":"It, started out as a separate program."},{"startTime":1253.101,"endTime":1255.621,"body":"It's still pretty much separate,"},{"startTime":1253.101,"endTime":1255.621,"body":"but it's called Hubdoc."},{"startTime":1255.621,"endTime":1260.0610000000001,"body":"And that's what we use to organize"},{"startTime":1255.621,"endTime":1260.0610000000001,"body":"receipts and invoices and we"},{"startTime":1260.0610000000001,"endTime":1263.921,"body":"can, sync those into Xero and"},{"startTime":1260.0610000000001,"endTime":1263.921,"body":"attach 'em to each transaction."},{"startTime":1264.251,"endTime":1267.911,"body":"And that way when we're drilling"},{"startTime":1264.251,"endTime":1267.911,"body":"down on things, we can see what"},{"startTime":1267.911,"endTime":1269.741,"body":"the source document actually was."},{"startTime":1270.423,"endTime":1271.2630000000001,"body":"Super cool."},{"startTime":1271.8500000000001,"endTime":1274.76,"body":"Number five are some features that."},{"startTime":1274.76,"endTime":1281.69,"body":"Xero has embedded or included,"},{"startTime":1274.76,"endTime":1281.69,"body":"whereby other programs such"},{"startTime":1281.69,"endTime":1284.96,"body":"as QBO actually charge for."},{"startTime":1285.4,"endTime":1292.3300000000002,"body":"Number one is the budget feature in"},{"startTime":1285.4,"endTime":1292.3300000000002,"body":"every plan, early growing or established."},{"startTime":1292.819,"endTime":1298.5790000000002,"body":"Xero, you have access to the budgeting"},{"startTime":1292.819,"endTime":1298.5790000000002,"body":"feature and I think that's pretty cool."},{"startTime":1298.5790000000002,"endTime":1300.3790000000001,"body":"It's also really easy to use."},{"startTime":1300.429,"endTime":1300.999,"body":"We love it."},{"startTime":1301.029,"endTime":1305.6190000000001,"body":"We use it for our CFO clients and when"},{"startTime":1301.029,"endTime":1305.6190000000001,"body":"we create a budget with them, we can,"},{"startTime":1305.769,"endTime":1309.309,"body":"you know, I do it all in Excel using"},{"startTime":1305.769,"endTime":1309.309,"body":"the template that comes out of Xero,"},{"startTime":1309.3390000000002,"endTime":1313.569,"body":"and then I import it back into Xero"},{"startTime":1309.3390000000002,"endTime":1313.569,"body":"once we've flushed out how we want the"},{"startTime":1313.569,"endTime":1315.6390000000001,"body":"budget to look and modeled things out."},{"startTime":1316.159,"endTime":1320.269,"body":"And then every month we can run"},{"startTime":1316.159,"endTime":1320.269,"body":"the report of actuals versus"},{"startTime":1320.269,"endTime":1321.5890000000002,"body":"budget and see where we're at."},{"startTime":1321.7230000000002,"endTime":1323.823,"body":"so it makes that process"},{"startTime":1321.7230000000002,"endTime":1323.823,"body":"a lot more efficient."},{"startTime":1324.325,"endTime":1329.2150000000001,"body":"like I said, the Stripe integration"},{"startTime":1324.325,"endTime":1329.2150000000001,"body":"is direct and free with Xero."},{"startTime":1329.2450000000001,"endTime":1334.4650000000001,"body":"In QBO, you have to pay for a third party"},{"startTime":1329.2450000000001,"endTime":1334.4650000000001,"body":"app to integrate Stripe as a bank account."},{"startTime":1334.672,"endTime":1337.882,"body":"we also have access to"},{"startTime":1334.672,"endTime":1337.882,"body":"some visual reports."},{"startTime":1337.942,"endTime":1340.912,"body":"and last but not least, unlimited."},{"startTime":1341.112,"endTime":1343.0320000000002,"body":"Users on every plan."},{"startTime":1343.134,"endTime":1345.6100000000001,"body":"and that's not something"},{"startTime":1343.134,"endTime":1345.6100000000001,"body":"that happens with QBO."},{"startTime":1345.6100000000001,"endTime":1349.69,"body":"So you can invite somebody to do your"},{"startTime":1345.6100000000001,"endTime":1349.69,"body":"invoicing, you can invite somebody"},{"startTime":1349.69,"endTime":1352.8700000000001,"body":"to do your ap, you can invite"},{"startTime":1349.69,"endTime":1352.8700000000001,"body":"someone in to just handle payroll."},{"startTime":1353.02,"endTime":1358.69,"body":"You can invite five accountants if you"},{"startTime":1353.02,"endTime":1358.69,"body":"want to, and you can have multiple people"},{"startTime":1358.69,"endTime":1363.46,"body":"within your organization with access"},{"startTime":1358.69,"endTime":1363.46,"body":"to Xero, if that makes sense for you."},{"startTime":1363.567,"endTime":1365.516,"body":"at different permission"},{"startTime":1363.567,"endTime":1365.516,"body":"levels like we talked about."},{"startTime":1365.516,"endTime":1366.6860000000001,"body":"So the controls are in place."},{"startTime":1367.6560000000002,"endTime":1370.866,"body":"And you don't have to worry"},{"startTime":1367.6560000000002,"endTime":1370.866,"body":"about paying for another seat."},{"startTime":1371.256,"endTime":1373.836,"body":"I personally think that's"},{"startTime":1371.256,"endTime":1373.836,"body":"a game changer right there."},{"startTime":1374.496,"endTime":1380.046,"body":"Number six are invoicing features that"},{"startTime":1374.496,"endTime":1380.046,"body":"I really love about Xero that just makes"},{"startTime":1380.046,"endTime":1385.804,"body":"it easier to get paid and accept payments"},{"startTime":1380.046,"endTime":1385.804,"body":"and make you look professional you can"},{"startTime":1385.804,"endTime":1388.834,"body":"customize your branding on your invoice."},{"startTime":1388.834,"endTime":1391.2040000000002,"body":"And not only that, you"},{"startTime":1388.834,"endTime":1391.2040000000002,"body":"can actually create."},{"startTime":1391.3500000000001,"endTime":1394.5600000000002,"body":"different multiple brands within one file."},{"startTime":1394.5600000000002,"endTime":1396.958,"body":"So say, say you have like."},{"startTime":1397.4830000000002,"endTime":1402.823,"body":"A trademark of, I don't know, something"},{"startTime":1397.4830000000002,"endTime":1402.823,"body":"in your business that you invoice your"},{"startTime":1402.823,"endTime":1407.808,"body":"clients for, and then you have like"},{"startTime":1402.823,"endTime":1407.808,"body":"this other sub-brand, or subdivision,"},{"startTime":1407.808,"endTime":1411.738,"body":"but you're under the same LLC and you"},{"startTime":1407.808,"endTime":1411.738,"body":"want a different logo on the invoice."},{"startTime":1411.738,"endTime":1417.198,"body":"You can create multiple different"},{"startTime":1411.738,"endTime":1417.198,"body":"invoice templates within Xero and decide"},{"startTime":1417.198,"endTime":1418.693,"body":"which brand you're gonna invoice from."},{"startTime":1419.088,"endTime":1420.678,"body":"It makes it really cool."},{"startTime":1420.74,"endTime":1423.8600000000001,"body":"you can also connect"},{"startTime":1420.74,"endTime":1423.8600000000001,"body":"multiple payment processors."},{"startTime":1423.8600000000001,"endTime":1428.03,"body":"You can connect Stripe, you can connect"},{"startTime":1423.8600000000001,"endTime":1428.03,"body":"PayPal, you, we use GoCardless as"},{"startTime":1428.03,"endTime":1433.88,"body":"an option for a CH and you can set"},{"startTime":1428.03,"endTime":1433.88,"body":"up auto payments in there as well."},{"startTime":1434.076,"endTime":1437.89,"body":"within the invoicing feature,"},{"startTime":1434.076,"endTime":1437.89,"body":"It can auto calculate sales tax."},{"startTime":1437.89,"endTime":1441.71,"body":"So if you're in an area where you"},{"startTime":1437.89,"endTime":1441.71,"body":"should be charging your customers"},{"startTime":1441.77,"endTime":1446.3300000000002,"body":"sales tax, I highly recommend"},{"startTime":1441.77,"endTime":1446.3300000000002,"body":"turning on that auto lookup feature."},{"startTime":1446.93,"endTime":1450.632,"body":"I will say, I believe in the phone app."},{"startTime":1451.592,"endTime":1455.132,"body":"That feature doesn't work yet when"},{"startTime":1451.592,"endTime":1455.132,"body":"you're invoicing from the app."},{"startTime":1455.132,"endTime":1459.932,"body":"So if you do need to charge sales tax,"},{"startTime":1455.132,"endTime":1459.932,"body":"you can start the invoice on the app,"},{"startTime":1459.932,"endTime":1464.0420000000001,"body":"but you're gonna have to finish it on the"},{"startTime":1459.932,"endTime":1464.0420000000001,"body":"desktop to get the sales tax to calculate."},{"startTime":1464.364,"endTime":1465.923,"body":"you can set up invoice reminders."},{"startTime":1465.923,"endTime":1470.255,"body":"You can do this in QB O2, however"},{"startTime":1465.923,"endTime":1470.255,"body":"you, there's more customization in."},{"startTime":1470.265,"endTime":1470.275,"body":"Xero."},{"startTime":1470.95,"endTime":1474.97,"body":"You can set up as many different"},{"startTime":1470.95,"endTime":1474.97,"body":"types of reminders of you as you want."},{"startTime":1474.97,"endTime":1477.4,"body":"You can send reminders"},{"startTime":1474.97,"endTime":1477.4,"body":"leading up to the due date."},{"startTime":1477.64,"endTime":1481.1580000000001,"body":"You can send reminders once"},{"startTime":1477.64,"endTime":1481.1580000000001,"body":"the due date has passed, all"},{"startTime":1481.1580000000001,"endTime":1482.538,"body":"sorts of cool stuff like that."},{"startTime":1483.1380000000001,"endTime":1487.218,"body":"And you can customize the wording"},{"startTime":1483.1380000000001,"endTime":1487.218,"body":"in each and every one and make them"},{"startTime":1487.218,"endTime":1488.6280000000002,"body":"completely different if you want."},{"startTime":1488.789,"endTime":1491.857,"body":"and then, like I said, you"},{"startTime":1488.789,"endTime":1491.857,"body":"can set up autopay, have your"},{"startTime":1491.857,"endTime":1496.6870000000001,"body":"customers save their credit card"},{"startTime":1491.857,"endTime":1496.6870000000001,"body":"information and check a box to auto."},{"startTime":1497.432,"endTime":1498.8120000000001,"body":"Let you auto charge them."},{"startTime":1500.2820000000002,"endTime":1504.692,"body":"Lastly, I will talk about the mobile app."},{"startTime":1504.722,"endTime":1507.902,"body":"I briefly talked about it when"},{"startTime":1504.722,"endTime":1507.902,"body":"it comes to the invoicing."},{"startTime":1508.0410000000002,"endTime":1513.0210000000002,"body":"Another feature that the mobile app has"},{"startTime":1508.0410000000002,"endTime":1513.0210000000002,"body":"is tap to pay, so you can accept people's"},{"startTime":1513.0710000000001,"endTime":1519.101,"body":", cards on your phone without a credit card"},{"startTime":1513.0710000000001,"endTime":1519.101,"body":"swipey thingy and being charged extra."},{"startTime":1519.3110000000001,"endTime":1519.701,"body":"So."},{"startTime":1519.886,"endTime":1521.1860000000001,"body":"I think that's pretty much it."},{"startTime":1521.486,"endTime":1525.2240000000002,"body":"Also in the mobile app, you can look"},{"startTime":1521.486,"endTime":1525.2240000000002,"body":"at your net profit, year to date."},{"startTime":1525.779,"endTime":1530.039,"body":"Prior year, uh, you can look at your"},{"startTime":1525.779,"endTime":1530.039,"body":"revenue, you can look at your expenses."},{"startTime":1530.063,"endTime":1531.4740000000002,"body":"you can do a lot from your app."},{"startTime":1531.4740000000002,"endTime":1537.594,"body":"There's oftentimes when I am like laying"},{"startTime":1531.4740000000002,"endTime":1537.594,"body":"in bed stressing about money, and I'm"},{"startTime":1537.594,"endTime":1540.114,"body":"like, what is my profit so far this year?"},{"startTime":1540.294,"endTime":1543.654,"body":"And you can see your bank balances when"},{"startTime":1540.294,"endTime":1543.654,"body":"they're all connected to the feeds."},{"startTime":1543.9840000000002,"endTime":1544.854,"body":"You can log in there."},{"startTime":1545.694,"endTime":1547.314,"body":"And see everything in one place."},{"startTime":1547.6670000000001,"endTime":1550.152,"body":"so that's some pretty cool"},{"startTime":1547.6670000000001,"endTime":1550.152,"body":"features about the app."},{"startTime":1550.152,"endTime":1554.807,"body":"You can also do quotes, and, you can"},{"startTime":1550.152,"endTime":1554.807,"body":"accept people's quotes and convert"},{"startTime":1554.807,"endTime":1558.077,"body":"it right into an invoice, which"},{"startTime":1554.807,"endTime":1558.077,"body":"makes that process really seamless."},{"startTime":1558.778,"endTime":1562.1680000000001,"body":"lastly I'm gonna talk about a"},{"startTime":1558.778,"endTime":1562.1680000000001,"body":"couple things that, and objections"},{"startTime":1562.1680000000001,"endTime":1565.058,"body":"that I get when, , avid QBO users."},{"startTime":1565.448,"endTime":1570.038,"body":"Try to come to the bright side,"},{"startTime":1565.448,"endTime":1570.038,"body":"the beautiful side of business,"},{"startTime":1571.178,"endTime":1577.152,"body":"and one of them is that they"},{"startTime":1571.178,"endTime":1577.152,"body":"can't book journal entries to cash"},{"startTime":1577.152,"endTime":1579.082,"body":"accounts or bank accounts in Xero."},{"startTime":1579.102,"endTime":1584.112,"body":"And while I understand the sentiment."},{"startTime":1585.1770000000001,"endTime":1589.827,"body":"I don't believe you should really be"},{"startTime":1585.1770000000001,"endTime":1589.827,"body":"booking journal entries to a bank account."},{"startTime":1589.827,"endTime":1594.392,"body":"If you're doing accurate bookkeeping,"},{"startTime":1589.827,"endTime":1594.392,"body":"you can still adjust things on the"},{"startTime":1594.392,"endTime":1596.0120000000002,"body":"bank account if you so need to."},{"startTime":1596.5220000000002,"endTime":1599.702,"body":"And you just have to know which"},{"startTime":1596.5220000000002,"endTime":1599.702,"body":"direction you should be going, whether"},{"startTime":1599.702,"endTime":1601.652,"body":"it's a spend money or receive money."},{"startTime":1601.742,"endTime":1604.592,"body":"You book it, you market"},{"startTime":1601.742,"endTime":1604.592,"body":"reconciled, you move on."},{"startTime":1605.132,"endTime":1606.2060000000001,"body":"It's not that hard."},{"startTime":1606.2060000000001,"endTime":1609.415,"body":"It's basically the same effort as"},{"startTime":1606.2060000000001,"endTime":1609.415,"body":"it takes to do a journal entry."},{"startTime":1609.415,"endTime":1612.9540000000002,"body":"I don't know why people gripe about"},{"startTime":1609.415,"endTime":1612.9540000000002,"body":"that, but what are you gonna do?"},{"startTime":1613.441,"endTime":1618.0610000000001,"body":"so with that, it can make it a little more"},{"startTime":1613.441,"endTime":1618.0610000000001,"body":"difficult if you need to do like a payroll"},{"startTime":1618.0610000000001,"endTime":1622.2910000000002,"body":"clearing account or a sales clearing"},{"startTime":1618.0610000000001,"endTime":1622.2910000000002,"body":"account to, to get some stuff done."},{"startTime":1622.3480000000002,"endTime":1623.9750000000001,"body":"but yeah, that's one of the big gripes."},{"startTime":1623.9750000000001,"endTime":1627.875,"body":"One of the other big gripes that I've"},{"startTime":1623.9750000000001,"endTime":1627.875,"body":"heard in the past, which is no longer"},{"startTime":1627.875,"endTime":1633.335,"body":"an issue, much to my chagrin, is the way"},{"startTime":1627.875,"endTime":1633.335,"body":"that you actually did the reconciling"},{"startTime":1633.335,"endTime":1636.2250000000001,"body":"the bank account step previously in Xero."},{"startTime":1637.0140000000001,"endTime":1639.2150000000001,"body":"You could just, categorize"},{"startTime":1637.0140000000001,"endTime":1639.2150000000001,"body":"all the bank feeds."},{"startTime":1639.52,"endTime":1643.51,"body":"And you know, accept every transaction"},{"startTime":1639.52,"endTime":1643.51,"body":"that came through the bank feeds, and that"},{"startTime":1643.51,"endTime":1646.18,"body":"was actually the reconciliation process."},{"startTime":1646.39,"endTime":1650.6200000000001,"body":"You would then just run a report"},{"startTime":1646.39,"endTime":1650.6200000000001,"body":"comparing what you just did with what's"},{"startTime":1650.6200000000001,"endTime":1654.7,"body":"on the bank statement, instead of"},{"startTime":1650.6200000000001,"endTime":1654.7,"body":"doing a whole separate tick and tie"},{"startTime":1654.7,"endTime":1657.13,"body":"process that you do in QuickBooks Well."},{"startTime":1657.565,"endTime":1663.265,"body":"Last year they unveiled that they were"},{"startTime":1657.565,"endTime":1663.265,"body":"implementing a reconcile period process."},{"startTime":1663.265,"endTime":1667.405,"body":"And while we have implemented that in"},{"startTime":1663.265,"endTime":1667.405,"body":"our firm, I'm actually not a huge fan"},{"startTime":1667.405,"endTime":1672.653,"body":"because it adds another step to our"},{"startTime":1667.405,"endTime":1672.653,"body":"process and makes things a little bit."},{"startTime":1672.701,"endTime":1676.65,"body":"more complex that they didn't"},{"startTime":1672.701,"endTime":1676.65,"body":"need to, but I get that they"},{"startTime":1676.65,"endTime":1678.9,"body":"had to please the QBO users."},{"startTime":1678.9,"endTime":1680.52,"body":"So it was a little compromise."},{"startTime":1680.635,"endTime":1686.065,"body":"but yeah, so that feature now exists"},{"startTime":1680.635,"endTime":1686.065,"body":"for any of you who had that big gripe."},{"startTime":1686.275,"endTime":1690.2350000000001,"body":"Now you get a whole separate process"},{"startTime":1686.275,"endTime":1690.2350000000001,"body":"and a window that you can go to after"},{"startTime":1690.2350000000001,"endTime":1695.365,"body":"you've already accepted all the bank"},{"startTime":1690.2350000000001,"endTime":1695.365,"body":"transactions to just make sure that"},{"startTime":1695.365,"endTime":1696.93,"body":"the bank transactions you accepted."},{"startTime":1697.75,"endTime":1698.38,"body":"Are there."},{"startTime":1699.88,"endTime":1703.42,"body":"Alright, so those are"},{"startTime":1699.88,"endTime":1703.42,"body":"some of the big reasons."},{"startTime":1703.462,"endTime":1704.709,"body":"most of the reasons why I love Xero."},{"startTime":1706.134,"endTime":1709.854,"body":"And I'm loving it more and more"},{"startTime":1706.134,"endTime":1709.854,"body":"every time they do updates, which"},{"startTime":1709.854,"endTime":1714.961,"body":"by the way they do updates a lot,"},{"startTime":1709.854,"endTime":1714.961,"body":"but nothing huge ever changes."},{"startTime":1714.991,"endTime":1719.701,"body":"Except this year they did change the"},{"startTime":1714.991,"endTime":1719.701,"body":"layout of the dashboard and the interface."},{"startTime":1719.852,"endTime":1721.862,"body":"but it's actually better now."},{"startTime":1721.862,"endTime":1723.5420000000001,"body":"It's more visually appealing."},{"startTime":1723.5420000000001,"endTime":1726.1370000000002,"body":"There's better information on"},{"startTime":1723.5420000000001,"endTime":1726.1370000000002,"body":"the dashboard when you log in."},{"startTime":1727.1870000000001,"endTime":1728.9270000000001,"body":"And I'm all for it."},{"startTime":1729.227,"endTime":1733.817,"body":"So if you are ready to come on over"},{"startTime":1729.227,"endTime":1733.817,"body":"to the beautiful side of Business"},{"startTime":1733.847,"endTime":1739.367,"body":"with Xero, I still like their old"},{"startTime":1733.847,"endTime":1739.367,"body":"slogan where they, their old slogan"},{"startTime":1739.367,"endTime":1741.4070000000002,"body":"was like, beautiful business."},{"startTime":1741.6770000000001,"endTime":1743.837,"body":"Now it's like supercharger business."},{"startTime":1744.3770000000002,"endTime":1747.827,"body":"I don't know, I'm still a fan of the"},{"startTime":1744.3770000000002,"endTime":1747.827,"body":"old slogan, so I'm gonna stick with it."},{"startTime":1747.977,"endTime":1751.577,"body":"But if you're ready to come over to the"},{"startTime":1747.977,"endTime":1751.577,"body":"beautiful side of business, check out"},{"startTime":1751.607,"endTime":1756.833,"body":"the links to join Xero in the comments"},{"startTime":1751.607,"endTime":1756.833,"body":"or in the , description below the video."},{"startTime":1757.0310000000002,"endTime":1760.931,"body":"Or the show notes where you're"},{"startTime":1757.0310000000002,"endTime":1760.931,"body":"listening, and I super appreciate"},{"startTime":1760.931,"endTime":1762.3110000000001,"body":"you using my affiliate link."},{"startTime":1762.3110000000001,"endTime":1765.0410000000002,"body":"If you are an accountant and"},{"startTime":1762.3110000000001,"endTime":1765.0410000000002,"body":"you want to become a partner,"},{"startTime":1765.0410000000002,"endTime":1766.421,"body":"there is a process for that."},{"startTime":1766.421,"endTime":1769.421,"body":"That's another gripe of people that they"},{"startTime":1766.421,"endTime":1769.421,"body":"have to get on a call with a partner,"},{"startTime":1769.421,"endTime":1771.8310000000001,"body":"advisor, and, . I'm okay with it."},{"startTime":1771.861,"endTime":1774.171,"body":"'cause they also vet"},{"startTime":1771.861,"endTime":1774.171,"body":"their accounting partners."},{"startTime":1774.171,"endTime":1777.951,"body":"They wanna make sure that you actually"},{"startTime":1774.171,"endTime":1777.951,"body":"are an accountant, you are trying to"},{"startTime":1777.951,"endTime":1783.171,"body":"grow a business and you are trying to"},{"startTime":1777.951,"endTime":1783.171,"body":"help clients and you have integrity."},{"startTime":1783.261,"endTime":1785.5710000000001,"body":"So I don't think there's"},{"startTime":1783.261,"endTime":1785.5710000000001,"body":"anything wrong with that."},{"startTime":1785.663,"endTime":1792.353,"body":"and then you get a partner advisor in your"},{"startTime":1785.663,"endTime":1792.353,"body":"corner helping you grow your business."},{"startTime":1793.0430000000001,"endTime":1796.2230000000002,"body":"Oh, one last little thing too"},{"startTime":1793.0430000000001,"endTime":1796.2230000000002,"body":"is as a Xero partner, you get"},{"startTime":1796.2230000000002,"endTime":1797.693,"body":"access to marketing funds."},{"startTime":1798.248,"endTime":1800.468,"body":"Maybe I should submit"},{"startTime":1798.248,"endTime":1800.468,"body":"this for marketing funds."},{"startTime":1800.708,"endTime":1801.0980000000002,"body":"We'll see."},{"startTime":1801.428,"endTime":1803.738,"body":"Alright, we'll catch you on the flip side."}]}