Xero interim accounts

Xero is an online accounting package that was launched in April 2007. Our accounting software, Clear Books, was beta launched in December 2008 and we are making good progress closing the time advantage afforded by Xero’s first mover advantage.

Clear Books differentiator is a cheap and simple accounting system that will help small businesses instil financial rigour to their organisations thus providing a sound platform to grow.

Xero is a listed company in New Zealand and is required to publish its financial accounts. Below is an extract from its recently published Interim Accounts 2008.

Xero Financial Summary

Xero’s capital raising on the financial markets has afforded it an impressive team of 57 employees and impressive costs and a net loss to match. The company will be relying on driving up its customer base to ramp up revenue and reduce its high cash burn.

Clear Books has a completely different approach which ensures that we are adaptable. This is in part provided by our partner Fubra which brings hosting, design and development expertise to the company.

However, Clear Books is fundamentally a one man operation. Our one full time and dedicated employee, me, is developing an accounts system to take on Xero, QuickBooks and even Sage. This keeps our costs to a minimum and ensures revenue will quickly hit our bottom line and create a profitable, sustainable business.

Website: Xero

About the Author - Tim Fouracre

I've always been interested in computers and finance. I started out as a PHP developer and later qualified as a Chartered Accountant at KPMG.

Programming and accounting came together when I co-founded Clear Books online accounting software back in July 2008.

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Showing 2 Comments

  1. Stuart Bale

    Hi Tim,
    Just wanted to update you on our latest numbers, having just tipped over 6,000 customers – http://blog.xero.com/2009/03/the-hockey-stick/.
    Regards,
    Stuart Bale
    General Manager – Accounting Partners
    Xero

    3 years ago

  2. Stuart Bale

    Hi Tim,
    Just wanted to update you on our latest numbers, having just tipped over 6,000 customers – http://blog.xero.com/2009/03/the-hockey-stick/.
    Regards,
    Stuart Bale
    General Manager – Accounting Partners
    Xero

    3 years ago