How To Make Xero Really Work For Your Business
These days, the market is full of tools promising to make life for your business that little bit easier. From high-tech productivity apps to software that makes web design a 'breeze', and there’s never been a better time to up your game.
But how about accounting? With over 1 million subscribers, Xero has become hugely popular for those wanting to keep track of their small business finances – and here’s how to make it work for you.
1. Make time to learn how Xero works
It might seem obvious, but how many times have you built some furniture, only to go back to the instructions when it is as easy as you first though. The problem setting for a Xero business or Xero accountant account is that no two are ever the same, so there's an element of learning on the go. So new or old user, book out some time to learn as much as you can. Xero offers Xero U education which is full of live and online courses, webinars and events where you can learn even more about Xero and how to get the most out of it.
2. Put your Xero training into action
Now your familiar with the dashboards and have identified which one stores the information that’s most useful to you. However, review them regularly, you can make business decisions on a micro level that could have far-ranging benefits for your company as a whole.
3. Use Xero search
In the same vein, Xero has some impressive search features – so start using them. Whether you want an overview of transactions with a particular client or a snapshot of how many new contacts you’ve made over the last month, a clear and concise picture is just a few clicks away.
4. Identify and remove repetition
Dealing with repeat transactions? This is another area in which Xero accounting system comes into its own. All you need to do is set up invoices and bills to recur repeatedly, and you’ll be saving yourself a lot of effort every month. And if you’re worried about monitoring all these transactions, you needn’t be – Xero also allows you to track your finances according to recipient, asset, equity, expense, or just about any other category you can think of.
5. Find out who else you know uses Xero
Like many things, Xero works best in its own company, so try to encourage your accountant and business contacts to adopt the software too. When dealing with other Xero users, transactions are super-simple – just share your network key and let the software do the rest.
6. Pick the right Xero connected app for your business needs
Thankfully, the Xero app marketplace is full of great solutions that can improve the functionality of Xero. Though not every integration is the same, some require you to interact with it on a regular basis, while others are truly real-time.
At Expend, we are very proud of our Xero integration and we've made over 30 improvements and upgrades since we integrated our smart payment card, integrated app, and expense management dashboard. This ensures that you can track your employees expenses in real time, without having to click a button or manually turning it on and off, so you can instantly share expenses information for every employee with Xero. Or if you prefer, we've given our users the option to queue everything until you're ready to sync with Xero.
As you've probably guess, it also more than a basic integration, you can easily sync Expend with Xero tracking categories, out of pocket expenses, cash management, notes, job numbers, clients, VAT, receipts and more the way you want to.
What's new in Expend: December 2017