Xero enhances your business
Xero enhances your business
Are you aware of how you can use Xero to positively change your business?

Are you aware of how you can use Xero to positively change your business?

Here are a few ways in which this can happen.

No Jargon

Xero doesn’t use tech speak, just plain English, which makes it a far less daunting prospect when facing your bookkeeping. We can still help if there are still some areas you are unsure of.

Cloud Based

Xero is a cloud based bookkeeping solution designed to be simple and easy to use, even for those who have no bookkeeping or accounting experience. There are guides and training sessions in the Xero Central portal to help with any difficulties and our experienced team here at Hive are on hand to help you too.

And being cloud based means you can access it anywhere as long as you have the internet. This also means that there is no need to worry about taking backups or having to pass your records to us. We can simply share access to your Xero account and get the information we need.

There are Xero apps for mobile phones which take accessibility to another level. If you are away on business, instead of worrying about keeping all the receipts for when you get home, you can simply capture expenses on the go. All you need to do is take a photo and upload it on the mobile app. You can also email them directly to Xero.

Xero also has some handy quarterly webinars to keep you up to date with additions to this accessibility and other useful information.

Downloading

You can download your sales and purchases invoices and your cash receipts to Xero. This can be done via your mobile phone as mentioned above. If you don’t have the app you can either email them directly to Xero or use Dropbox or Hubdoc. Ask us if you need help with this.

Xero now links directly to most banks to feed your bank statements straight into the system. Once Xero has the transactions from your bank, it can automatically match up invoices to the bank transactions. You can also attach the cash receipts to the petty cash account.

Reconciliation

Reconciling the bank and matching invoices is simple. You can match each transaction individually. You can also choose to use “bank rules”, which can be created for regular transactions such as monthly utility payments, your wages or even your regular sales. It analyses them automatically to where you want. Xero will also prefill items that it recognises from previous transactions. This all saves time and a lot of hassle during the reconciliation process.

And we can help!

Even better…we can help you by either doing your bookkeeping for you, leaving you free to just review the results or if you prefer you can do your own data processing and we are on hand for any questions.

The information contained in this article is based on the opinion of Hive Business and does not constitute formal tax advice. Any tax outcomes will be based on individual circumstances, tax legislation and regulation, which are subject to change in the future. You should seek specific advice before embarking on any course of action. Hive Business does not provide regulated Financial Advice, including advice on investment, insurance or lending products or their suitability for you. This article is provided for information only and does not constitute, and should not be interpreted as, investment advice or a recommendation to buy, sell or otherwise transact, or not transact, in any investment including Bitcoin and other crypto. Any use you wish to make of any information contained within this article is, therefore, entirely at your own risk.

By Lesley Gerber Trainee Accountant
If you have any questions or comments about this article, please get in touch.
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