Unleashed has the most comprehensive inventory integration with Xero available in the app marketplace. This includes the synchronisation of customer and supplier contact information, sales invoices, supplier invoices, freight costs, manufacturing costs and all inventory movements. Sometimes I will come across a business that is using both Unleashed and Xero and doesn’t have the two systems integrated. This is such a powerful combo that I want to describe the huge benefits it generates for people all over the world.
When this integration is set up correctly the end result should be:
- Reduced data entry
Integrating Unleashed and Xero means you no longer have to enter your inventory related accounts receivable or accounts payable transactions into your accounting system. You also don’t have to double-enter your customer or supplier information.
- Real-time inventory balances
Because each inventory movement in both quantity and value is instantly reflected in your accounting system you’re able to run a Balance Sheet at any point during the month and view your current stock on hand. For most businesses this is a dream as they only get this information at the annually, quarterly or monthly.
- Improved Financial Reporting
Gone are the days when we used to build and maintain elaborate chart of accounts in our accounting systems in order to generate product, customer, region or channel based reports in our accounting system. Where we used to be forced to report based on chart of account codes we are no longer with the ability to connect specialist apps like Unleashed to do this legwork for us. Unleashed allows us to drill right down to view profitability by product, category, customer, region or channel and it puts this power right in the hands of the people that need it most – in real time. The Unleashed integration also allows us to map sales of specific products to individual chart of account codes which reduces the coding required in your accounting system.
- True Product Costs
One of the unique benefits of Unleashed is that it allows you to measure your true product costs and shows you your true product margins. It does this through capitalising the the costs of acquiring and assembling your products into the value of the products contained in the purchase order or assembly.
- Reduced data entry
Not using this integration will be costing your time and money. You will also be receiving less information, less frequently with which to make better business decisions.
If you’re using both Unleashed and Xero and not utilising the integration or you’re not seeing the results above the Unleashed Tune Up course is designed for you. As part of this course we cover setting up the Unleashed and Xero integration and reconciling your Unleashed and Xero Stock on Hand.
If you’d like to discuss how Unleashed and Xero would work for your business I’d recommend booking a quick session with us using this link.