Xero with Aider

Aider is the engagement platform designed specifically for Xero accountants.

What is Xero?

In 2006, Rod Drury and Hamish Edwards founded an accounting 2.0 company in windy Wellington, New Zealand. What started off as an idea to help accountants and bookkeepers use the power of technology to make things better for their practice and their clients is now Xero, the world's best online accounting software.Xero is all-in-one accounting software for practices that serve small business clients. Accountants and bookkeepers the world over use Xero to easily collaborate, automate reconciliations and tasks, and access client records whenever you need them. Xero is cloud-based, which means you can access your firm's dashboard from any device, anytime, anywhere.Both you and your clients can review information simultaneously, which increases accuracy and saves you time. You can also sort and batch code multiple expenses in one go instead of coding one by one. Xero is built to help accountants and bookkeepers be more efficient.

Reconciliations for accountants in Xero

A favorite among all Xero accountants is the reconciliation feature. Part of being a great accountant is guiding your clients towards more effective financial choices, and Xero makes it easy to guide them towards daily—not monthly—reconciliations. Daily reconciliation is quick and easy.Reconciling all transactions must happen before you can finalise a client's GST returns. Whether it's your clients (ideally) or you (in a pinch), someone has to reconcile all transactions before GST time. Xero automatically loads your clients' bank details so you and your clients can reconcile payments instantly. The information regarding each transaction remains in Xero so you can always refer back to the information that you need and see exactly what is happening for your clients' businesses. Xero also remembers previous transactions and will begin to label each reconciliation, making account allocation, organization, and filtering simple.

Xero's app marketplace

What makes Xero even better for both you and your clients is the company's collaborative approach to software as a service. Xero teams up with the best apps in the world to help make your time and your clients' money investment in Xero all the more worthwhileXero's robust ecosystem connects to more than 500 apps that each provide unique solutions for small business owners and their accountants or bookkeepers—from CRM to time tracking to digital assistants. These apps are Xero-approved partners that the software company identifies for their productivity-boosting potential.Xero maintains the Xero App-Marketplace to make finding exactly the right app simple for small businesses and their advisors, like you. The apps in the Marketplace securely and seamlessly share all the information in Xero, so there's no time-consuming data entry.The best apps in the Marketplace are those that not only help clients and accountants be more productive, but those that take the best parts of Xero and make them more powerful.

Xero + Aider: a perfect pair

Aider is the engagement platform designed specifically for Xero accountants. Combining Aider with Xero is the key to unlocking a stronger, more scalable practice. It makes your days more productive and enables you to strengthen your client relationships with real-time financial data.When you sign up for the Aider Advisory Portal, your Aider account automatically connects to your Xero account. Aider links directly to your clients' information about outstanding, overdue and upcoming bills and invoices. This data set updates in real-time so any changes made in Xero are up-to-date data in Aider….but this is just the beginning.Aider's team is made of world-class engineers and Xero accountants who understand what makes Xero great, and what can make it even better.Here are some of the top benefits of linking Xero + Aider. Like Xero, Aider is also great for your clients. Here are some of the top benefits for you and your small business owner clients:For the busy small business owner:  #Integrates with Xero and securely links to their bank accounts, billing and invoicing.#Eliminates human error and makes their information more searchable via a chat-like interface—Aider answers your clients' questions about their finances!!#Easy communication with you, their advisor, about everything happening in their business#Complete visibility of Xero information with 24/7 access to their real-time data, including cash flow notifications, anomaly alerts, and more!#Saves valuable time by making their financial data more accessible and easy to understand.For accountants and bookkeepers:#Fully integrates with your Xero account to give you the information you need when you need it#No more data entry, no more human error. Aider works with Xero to find anomalies in your clients' data before they become a problem#A better system for your team—your entire practice can connect directly with proactive data and information drawn from Xero.#Real-time data pulled from Xero and other business apps drive conversations about business success and next steps for your clients. Always have the information you need at your fingertips#Communicate with your clients directly in Aider about their Xero numbers in language they understand#Aider + Xero saves you time by bringing together all your client information in one place and making it easy to find exactly what you need and know which client needs your help today.

Algorithm-powered data

At Aider, we know AI is the key ingredient driving the future of financial advisory. AI works by combining data with intelligent algorithms so apps and software learn automatically from patterns in your data. We're invested in small businesses, so we work hard to continually develop systems that help bookkeepers and accountants stay ahead of the game by integrating AI from day one. This helps firms be more efficient and small businesses achieve greater success.Joining your Xero data with Aider's AI-powered platform gives you the ability to chat with your Portal about sales, bills, inventory, schedule tasks, or anything that makes running your firm easier and more efficient. Aider becomes smarter the more you use it—that's how we built it, and that's how it helps you work smarter, not harder.

Manage GST and financial risks

Aider manages financial risk by proactively identifying and communicating your clients' potential cash flow issues. Xero pulls in your clients' account and reconciliation data and Aider uses smart technology to make sure you and your clients stay one step ahead.This is important. Since most clients wait until the last minute, the GST due time can be a stressful, time poor period for accountants and bookkeepers. Many clients' reactive way of working inhibits previewing GST periods as they progress. Unfortunately, this means that the previous GST return is the best reference point. Unless client data is completely and accurately reconciled, clients end up with incorrect estimates, leading to negative views of their advisor.By locking in with Xero, Aider provides GST information for the current period on a schedule and sends it to the customer at the end of each month. With Aider's new GST Forecast feature, we provide an estimate regardless of your clients' data reconciliation status. Aider proactively tells small business owners what their GST cost will be anywhere from 30 to 10 days ahead of time, and the more reconciled the transactions, the more accurate the estimate.Aider sends small businesses alerts based on upcoming bills. For example, 'we noticed that your total bank balance is X and your GST is due in seven days. This is a cash flow risk."Advisors can incorporate this information into the services you provide your clients. Not only does this take the pain out of doing the calculations, but it helps you establish greater trust and enhance your relationship.  Aider's new Reconciliation Request feature also gives advisors access to a risk profile for each of their clients by showing the risk of non-filing and not filing GST on time.

Automate Tasks

Xero is brilliant at managing the connection between technology and your clients' bank accounts. Aider helps take that connection one step further by making it easy to automate tasks that would otherwise take time away from serving your clients and from your clients running their business.The Advisory Intelligence Portal action center is your hub for sending one-off or regular client notifications and requests. Save time by setting up automated repeat cash flow checks, profit and loss analyses, and direct and overhead costs forecasts. Automating these tasks keeps your clients actively engaged with their finances and your firm while you work on scaling your business.Your clients can use the Aider App to automate their own daily tasks, thanks to the combined power of Xero + Aider. Powerful, real-time data takes the guesswork out of running their business by allowing them to automate daily updates and tasks based on fact, not fantasy.

Make better decisions, give smarter advice

You studied finance and accounting; your clients did not. They work with you to help them understand all the money talk , the ins and outs of tax, and it is up to you to show them that you can guide their next step by improving their knowledge. Aider presents Xero data in simple language that is easy for your small business clients to understand and start using themselves. We all know that small business owners may feel overwhelmed by their Xero data and avoid looking at it. With Aider, not only will they understand it, but with your guidance, they'll be able to take action. Aider's simplified breakdown of Xero data shows you which data you need to see first to be proactive and message the client that needs your attention today. Setting your clients up with the Aider App prompts them to make decisions that benefit their businesses in the long term—it's time to guide them to look forward, not back, and easy-to-read real-time data gives them that foresight.Aider won't just tell you and your client whether their net profit is up or down, it tells them why and what they can do about it. For example, maybe their insurance expenses are too high and they need to adjust them. If they don't see this information in their app, you can send them a notification to remind them to look it up from the Portal with a single click. Making smarter decisions requires accurate information, and Xero + Aider makes this a reality.At Aider, our aim is to drive behaviour that helps customers understand that reconciled transactions lead to more transparent tax estimates. Small changes in behaviour add up to big changes in the success of a business. The more your clients understand what's going on, the smarter they can be about their day today.

Manage your practice's Xero workflow

Aider solves issues around customer cash flow, compliance, and taxes, as well as bringing insights and advisory into Xero workflows. In the Aider Advisory Intelligence Portal, accountants and bookkeepers gain valuable insights from the Did You Know feature that helps navigate all the Xero information. For example, you'll get alerts about what client invoices are overdue, what was a client's net profit, what's going on in the business, etc. It's a curated summary about your customers' current business activity and needs. This feature uses the same information and language that your client sees in their app, so you can communicate in the same language, and they'll understand what they need to do.Aider also alerts you to pressing Xero workflow tasks. For example, Aider will tell you: "Pay interest hasn't been run for the month of April, but it was run in March, do you want to run interest now? Go to Xero" or "Depreciation hasn't been run since x day, we noticed that your customers have added assets. Do you want to do this now?"When you use Aider to make these activities part of your daily workflow, you avoid that annoying pileup at the end of the year after you do these accounts. Aider gives you insightful tasks that help you better serve your clients and get the most out of Xero.Aider helps you maximise your status as a Xero accountant. Your Advisory Intelligence Portal tells you what needs to be done to complete your client data so you can focus on scaling your business and offering better, smarter advisory services.

Xero's Advisor Tools – what you need today!

Your investment in Xero is an investment in smarter, more efficient days when you combine Xero with advisor tools like Aider. Automations, clearer real-time data, and proactive notifications are here to drive your next client conversation. Sign up for Aider using your Xero login to see how the best client engagement platform can help you scale your firm.