Why Xero bookkeeping for small and medium business?

Xero is a comprehensive and easy to use system that changes the way you manage your business financials. Xero is beautiful online accounting software that’s a breeze to use, anytime, anywhere.

Xero provides iCompass with all the information we need to complete your tax and compliance work as well as making it easier for you to manage your day-to-day business financials.

In addition to being a great accounting system, with Xero, you have a great tool to take care of everything from quotes and invoicing, to inventory management, expense reconciliation and even payroll. Mobile and cloud accessibility enable you to run your business both in an office and on the go.

Powerful reporting

Xero also has a simple but powerful reporting dashboard and a range of reporting tools. The reporting functionality gives both you and iCompass real insights into how your business is running. This means that we have the information we need to analyse your business and give you meaningful advice to improve your effectiveness.

What Exactly Does Xero Do?

Xero has all the financial tools you need to run your business in Melbourne;
  • Tax, Compliance, & Reconciliation
    • Automatically links and syncs with your bank account
    • Prepares for BAS and Annual returns with simple and easy reconciliations
    • Provides iCompass with all the information needed for tax and compliance work
  • Quotes, Invoicing, & Payments
    • Takes care of invoicing with online invoices and payment tracking
    • Lets clients pay invoices online using debit/credit cards or PayPal
    • Provides a professional template for quotes that convert to invoices
    • Records payments and reconciles to invoice
  • Payroll
    • Handles payroll including super contributions and timesheets
    • Automatically updates with the latest changes to PAYG tax and super rates
  • Inventory
    • Tracks inventory and stock on hand so you can quote with confidence
  • Cash-flow Management & Reporting
    • Gives a real time view of your cash-flow
    • Provides a dashboard and easy to use reporting to keep track of your finances
  • Convenient
    • Works in the cloud and operates from desktop and mobile devices
    • Reconciliations, quotes and invoicing can all be done in minutes
    • Let’s you run your business on the go

You can find out more about Xero bookkeeping by visiting their website www.xero.com.au

best xero accountant bookkeeper melbourne
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Setting-up Xero

iCompass is an accredited Xero partner in Melbourne. We have chosen Xero as our primary accounting software for our clients because it is powerful, easy to use, and cost effective. It streamlines your business financials, letting us work with you more effectively and efficiently, and provides everything your business needs in one package.

When you choose iCompass and Xero, we will manage the set-up and integration to ensure a smooth transition so you can start enjoying the benefits of iCompass and Xero as quickly as possible.

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How Much Does Xero Cost?

The cost of using Xero is included in your monthly fee which is customised to your business and your specific requirements.


What Our Clients Say

“iCompass had managed our personal tax for a number of years and we had always been happy with their service and advice so when I was looking to set up the new company structure it seemed appropriate for them to manage this and the accounts for the new entity.
We moved to a monthly packaged service and I believe the value we get far outweighs the cost. You know what you are going to pay and when this will come out each month. I have the peace of mind that the services they offer under that fee provides good value for money.
Whenever you have a question iCompass are always available to help out. Regardless of whether you want to seek advice, or action a small item related to Xero, they are always available. This flexibility is greatly appreciated. There have been times when I have required some training on Xero and the iCompass team has made themselves available to walk me through the information required and the processes.
It isn’t always about business and I enjoy the fact we can discuss things not just related to work. It shows they are human which I appreciate.”

Luke Watson
Owner/Director, Luke Watson Design & Assembly – LWDA

“The reason why I recommended Anthony to my current employer was because I find him to be so professional and he knows what he is talking about. I feel safe and secure and the fact that he is so knowledgeable ensures we are covered in every situation, are not being misled and are not about to have any unforeseen issues with the ATO. I feel like Anthony keeps us on the straight and narrow.
We have moved to a monthly fixed fee which works well. We have access to Anthony and the team at any time about any questions regarding Xero. It also helps with our cash flow. We know how much we are spending on these services per annum and can budget each month which is easier to deal with than one lump sum around tax time.
Anthony’s level of professionalism is outstanding. I always feel like I am in capable hands. “

Justine Wratten
Administration/Bookkeeper, Patterson Locksmiths

“As far as Accounts go, Anthony has the ability to get me excited about book work. I didn’t think that was possible.
iCompass offer innovative products such as Xero and like to keep current and up to date with best practices. Anthony is a very strong communicator which makes me feel more confident in taking on more of the book work and understanding how that works.”

Joanne Costello
Administration Manager, Heathglen Homes

iCompass & Xero

iCompass uses Xero Accounting Software – click on the videos below to find out more about how we use Xero to work with our clients.

Get in Touch

To discuss your specific requirements please contact iCompass on 1300 554 948
Get in touch using the form below – we’ll be delighted to help!

Get in Touch

To discuss your specific requirements please contact iCompass on 1300 554 948, get in touch using the form below – we’ll be delighted to help!

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Phone: 1300 554 948

Office Address: 
116 High Street, PRESTON VIC 3072

Postal Address:
PO Box 2006, PRESTON VIC 3072

Email: enquiries@compassdirection.com.au