Why UAE Accountants Are Recommending Xero For Motor Dealers?

17 Aug 2021 Helpful Tips

Let’s face it accounting is stressful. As a dealer in the UAE, you wear many hats. Your main focus is to sell quality cars, give exceptional customer service and grow profits. Accounting should be seamless; you should always have peace of mind knowing your accounts are correct and accurate at all times.

If you ask any accountant in the UAE which accounting package they would recommend for your dealership the vast majority of them will recommend Xero. Xero accounting is the fastest growing international accounting platform that provides a seamless online accounting experience.

As we start the new financial year NOW is the best time for your dealership to simplify your accounting and increase profitability. Here’s why UAE accountants recommend Xero for motor dealerships.

Provides your dealership with a competitive advantage...

One of the reasons why Xero is used by almost 3 million customers worldwide is because it provides a simplified, accurate and reliable accounting service to businesses of all sizes. The benefit of Xero is it transforms the way businesses and accountants collaborate through automation and data syncs.

For example, Xero integrates with EasyCars DMS, dealerships and accounts can instantly sync financial information from program to program instantly and accurately – removing all manual data entry tasks.

On top of this Xero has made business reporting and payroll simple. Using the latest technology, the simplified system decreases accountants and bookkeeper fees – which ultimately increases your profit.

Gives you a clear overview of your dealership

The biggest mistake many UAE dealers make is not frequently reporting on their finances. Xero accounting is a web-based solution that allows you to complete, store and file all your dealership financial information and transactions in one location – making it easy to report.

Dealers can also instantly generate tailored reports to track the growth of the dealership, the profit and loss and the dealerships overall financial situation. This is so beneficial as you don’t need to waste hours trying to do monthly reports and or wait for an update from your accountant.

Xero puts you in complete control of your business finances at all times.

Pay your staff and report on VAT

Xero's simplistic features allows dealerships to pay staff, manage VAT and report on all financials going in and out of the dealership.

Unfortunately, many other accounting systems don’t have the ability to pay staff, manage VAT and report for compliance regulations. VAT has only been mandatory for dealers in the UAE since 2018, many accounting platforms have not invested in a solution that provides this functionality.

The problem with using other systems is you will need to double your workload, calculate and report VAT externally - hoping that you don’t make an error. The FTA is knuckling down on dealerships VAT and are handing out significant penalties to those who fail to comply with regulations.

World-class data security

The one thing all businesses worry about when it comes to financial information is data security. You want to be sure that your valuable financial information is always secure.

Xero backs up data via the cloud. Cloud security has proven to be the industry leading choice for data security. The benefit of cloud security is all your data is safe and stored. So, if you lose your computer, hard drive or are hacked the information will be protected in an online database that is not accessible by anyone including the provider.

EasyCars is the ONLY Xero-accredited DMS

EasyCars Dealer Management System is the only Xero accredited dealer software in the world. EasyCars data syncs two way. The term two-way syncing, refers to the ability for transactions and information to transfer from one system to the other, and back again. Allowing users to decide for themselves which system they desired to do their data entry in.

Because the syncing process between EasyCars and Xero is two ways, in many cases, this means you can enter a transaction into either system and rest assured, knowing the program will copy it to the other, for you.

What makes EasyCars the best choice for UAE dealers?

EasyCars is a web-based dealer management system that simplifies and automates all the tasks involved with operating a motor dealership in the UAE. EasyCars removes all manual data entry tasks, reduces operational costs, and maximises profit.

When you choose EasyCars, every aspect of your dealership including your advertising, VAT calculations, reporting, stock, websites and more are automated - giving you a complete business solution in one location.

For a free no obligation demo of EasyCars please submit the form below.

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