This past month we’ve taken a deep dive into the world of small business finance. We pulled together an infographic to help growing businesses understand fundraising and we also asked the experts to share their insights in on small business finances. Below Dustin Cormack-Thompson, the owner of Ground Art Caffe, explains why he opted for Yoco and Xero to help him with his finances.
The two most important things that kept coming up were:
- To be successful you have to stay on top of your finances.
- Most small business owners simply don’t have the time or the knowledge to manage their finances as well as they could.
If this is something you can relate to, then watch the short video below.
If you would like to learn more about how Yoco and Xero work together, head over to yoco.co.za/xero.
So in opening up Ground Art Caffe we already knew that your accounting end of any business can become quite a hassle.
So, from the get go we knew we wanted to use a point of sale system and a system that integrated with an accounting software and have it linked together.
So that’s why on top of picking Yoco for the fact that it’s cool, it’s trendy, it’s small.
we picked it because it integrated with Xero.
So having it integrated with Xero means that someone comes and pays for a flat white with their card they put their card in, they pay the flat white, pulls in to Yoco system, a couple minutes later it sends through a line item that reflects on Xero.
Everything is checked.
You don’t have to go back and check, you don’t have to go and check your stock. It all correlates from that side.
Nice and simple. So it saves the accountant a ton of time, so instead of having to spend
three quarters of her day reconning all the stuff, she has it already reconned. She can package us a nice report, send it through.
We can cover a bunch of other stuff, maybe we’re spending too much money somewhere else.
So it really frees them up to give other insight that accountants can give you besides doing the heavy lifting in terms of all the recon that they do.
I really enjoy the fact that when running a business you can find a bunch of applications
that you can make use of that people don’t necessarily know about that makes your life a heck of a lot easier than it would’ve been before.