Here are our top ten Xero handy tips from the team at Cube Accounting. They are all very useful but number 1 is our winner, which is yours?
10. Accounts watchlist
Your dashboard (home screen) can be tailored in various ways to suit the needs of your business, including adding an “Accounts watchlist” which can help you to keep an eye on various areas of income/expenditure or asset/liability balances.
9. Email support/help centre
A wealth of advice and support is available (at no extra cost for all Xero subscribers) via the online help centre and email support facility (24/7) to assist with any technical issues with using various areas of the software.
8. Mobile app for android and apple users
Regularly updated, mobile apps for using Xero on the go are very handy for quoting, invoicing, bank reconciling and reviewing data whilst on the go.
7. Add-on apps
The list is endless when it comes to bolt-on applications that partner with Xero to enhance the already robust capabilities of Xero cloud accounting software. For added sophistication with stock/inventory management, point of sale integration/E-commerce, expense and receipt management, CRM, analytics etc., there’s a whole world of extra functionality to be found in the Xero App Store.
6. Invoice late payment reminders
Utilise this feature to improve turnaround times for getting paid and minimise manual credit control processes.
5. “Xero network key”
Use this feature to enable you to seamlessly link various documents between your own Xero and fellow Xero users’ Xero records. No more invoices getting lost in the post!
4. Default settings
Take the time to set up individual customer and supplier records within Xero with bespoke settings and this will help to tailor the layout of invoices (customers), help with managing credit terms and credit limits (customers and suppliers) and categorise income and expenditure transactions within your accounting records correctly and consistently.
3. Find and recode
Should you ever find that a particular type of transaction has been consistently coded incorrectly, this feature can be used to find all of those incorrectly posted transactions and correct them all in one go.
2. Bank rules
This feature allows you to set up shortcuts for reconciling bank line items. For example, shortcuts can be set up to prompt how to post regular transactions like bank charges, salary payments and other bank payments where a supplier invoice is not present. This increases consistency in transaction postings and saves time making corrections.
1. And the winner is……...bank feeds!
A revolution when introduced way back when cloud accounting software was in its infancy - bank feeds had to feature as number 1! Xero partners with all major high street and digital banks, enabling you to connect your accounting software directly to your online banking. This makes onerous traditional style bank reconciliations a thing of the past – and keeps your accounting records in the present!
For more information on getting the best out of these Xero features, contact a member of the Cube team on 01788 815017 or firstname.lastname@example.org