Our Introduction to Xero

Find out why we recommend Xero to help your business

Find out what it is and its features.

A demonstration of a handy tip – getting Xero support. We explain how much Xero costs.

Meet us to discuss how we can help you and your trades business here

 

Xero, the popular cloud-based accounting software, has introduced several new updates designed to enhance the user experience for small businesses and accountants alike. Here’s a look at some of the latest features that can streamline accounting tasks and boost efficiency:

1. Improved Bank Reconciliation

The new bank reconciliation feature now offers smarter matching capabilities, allowing users to reconcile transactions with greater accuracy and speed. This feature helps ensure that bank statements are aligned with business transactions, reducing manual entry and the risk of errors.

2. Enhanced Reporting Tools

Xero has revamped its reporting tools, making it easier for businesses to generate insightful financial reports. Users can now customise reports with more flexibility, add annotations, and share these reports with stakeholders directly within the platform. This is particularly useful for tax time, as detailed, organised reports are essential for accurate filings.

3. Multi-Factor Authentication (MFA) Update

To improve security, Xero has enhanced its Multi-Factor Authentication process, ensuring that user accounts are more secure from unauthorised access. This update is crucial for protecting sensitive financial data in an increasingly digital landscape.

4. Automated Invoice Reminders

Xero’s automated invoice reminder feature has been fine-tuned to give users greater control. Businesses can now set customised reminder schedules based on the customer’s payment history, ensuring more timely payments without manually chasing invoices.

5. New Projects Feature Enhancements

The “Projects” feature, designed for tracking time and costs on jobs, has seen updates to its budgeting and cost-tracking functions. These updates make it easier for businesses, particularly in service industries, to track profitability on a project-by-project basis, and ensure that all costs are accounted for.

6. Integration with Payment Services

Xero now offers even more integrations with online payment platforms, making it easier for businesses to get paid faster. With integrations like Stripe and PayPal, customers can pay invoices directly through Xero, helping improve cash flow for businesses.

7. Mobile App Improvements

The Xero mobile app has also seen updates, with a more user-friendly interface and new functionalities. Users can now reconcile accounts, send invoices, and track expenses with greater ease from their smartphones, making it easier to manage finances on the go.

These updates highlight Xero’s commitment to making accounting simpler, more secure, and more efficient for small businesses. By using the latest features, businesses can save time, reduce errors, and focus on growth.