Wednesday 23 October 2019

The Benefits of Xero for Your Business



The Benefits of Xero for Your Business

Traditional accounting is limiting, especially in the modern digital world we live in. This is why Primasia Corporate Services Limited has partnered with Xero, an easy to use and powerful online accounting system, as a certified business adviser. It’s time to embrace the future and transition from traditional accounting software and connect and collaborate online with cloud accounting. Being a great tool with multiple features, Xero can help you better organised your business and keep your accounting well-maintained.

Read on to learn just a few of the many benefits



The Benefits of Xero for Your Business

How can Xero Help your Business?

One of the major advantages Xero has is that you can run your business from anywhere you have an internet connection. Access your business finances anytime, from any internet-connected device – phone, tablet, or computer. There is a Xero app that works on all mobile devices, phones, and tablets. Upon download, you gain instant access to cloud accounting-- where you can manage your accounting remotely. For example, you’ll have the ability to create invoices and send them over to your clients, keeping everything neatly organized.

Reporting is crucial for all businesses. With Xero you can receive daily updates from your bank accounts and credit cards, keeping you on top of how you’re doing financially. Xero also offers over 40 interactive reports and budgets that are available in real time- so you can view and share them with your advisor or business partner on demand. No waiting for month end to see how your business is performing.


The Benefits of Xero for Your Business

Xero also protects your data with multiple layers of security. Your business information is encrypted and under your control. No one has access to your organization’s data unless you invite them into your account. You control what users can see and do in Xero.


With 30 years experience in establishing businesses in Hong Kong, China, and other offshore jurisdictions, Primasia offers integrated solutions for every business. As a Bronze Partner of Xero, Primasia is uniquely set up to help your business transition to Xero, provide Xero training, assist with audit and tax filing and help you understand how your business is performing. Contact Primasia Corporate Services Limited today for assistance with your cloud accounting and business needs.

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Primasia Corporate Services Limited
Company Incorporation
HR & Payroll
Accounting & Tax
Full China Services

Connect with Primasia Corporate Services Limited

Hong Kong Headquarters: Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong






Credit: Prosperity Research Digital Agency(PRDA): PRDA's Founder Douglas White developer of proven 5 step, 4 KPIs process of Social Media Marketing.

Tuesday 8 October 2019

Small Business Guide to Inventory Accounting

Small Business Guide to Inventory Accounting

Ready to expand your business into Asia? With over 30 years’ experience, Primasia provides company registration and a wide range of corporate services in Hong Kong, China, and Singapore. We are also your partner in Cloud Accounting, as Xero certified business advisors. Our specialists come to you to assist your company in getting up and running on the future of accounting-- the cloud. Xero provides a deeper look at your business and can help you understand how successful your business is at a glance.  We provide the training your business needs to utilize this amazing software.

For example, keeping track of your inventory with Xero can tell you about sales cycles and optimal stock quantities. But why is it important to account for inventory? Inventory accounting can help your business both save money AND increase profits. Below we’ll cover what inventory is, what it isn’t, and several of the benefits of accounting for your inventory properly.



What is Inventory?

Inventory comes in many shapes and sizes depending on the type of company you have, there are three main types of inventory: Merchandise you sell, Products your business installs, and Goods you create or manufacture.

What is NOT inventory?

Equipment and supplies needed to run your company are NOT inventory, instead these are usually counted as Assets or Expenses.

Why is it important to account for inventory property?

First and foremost, when you understand how much inventory you have, how much it cost you, how much you’re selling it for, and when it’s selling- you can gain insights to help you make smarter business decisions. Working out your profit margins will help you figure out which products are earning you the most money and which products just aren’t worth the hassle. Keeping track of your inventory can help you decide which products to focus on, which enables you to grow your business.
Inventory Accounting can also help you understand seasonal sales cycles- what sells better in summer versus winter. You want to have enough stock to meet the needs of your customer bases, especially on your most popular items but not so much that your cash flow is tied up in items that your customers won’t want more of for several months.


Xero is beautiful accounting software for small businesses, allowing you to see your cashflow in real-time with online accounting, invoicing, payroll, billing & banking. As official Xero-certified business advisers, Primasia professionals can come to you to set up cloud accounting. Contact us today to learn more!

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Primasia Corporate Services Limited
Company Incorporation
HR & Payroll
Accounting & Tax
Full China Services

Connect with Primasia Corporate Services Limited

Hong Kong Headquarters: Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong






Credit: Prosperity Research Digital Agency(PRDA): PRDA's Founder Douglas White developer of proven 5 step, 4 KPIs process of Social Media Marketing.