Xero

In this section we are going to highlight some of the features available in Xero that enable you to get things done in your business. For more details about the current features and prices, visit Xero.

Short video guides (COMING SOON)

Here are some short videos to help you see how easy it is to use the software, and also act as a reminder in case you haven’t used the features in a while.

• Create a customer
• Create an estimate for a customer
• Create an invoice for a customer
• Create a recurring invoice for a customer
• Create an invoice for a customer with CIS and Reverse Charge
• Send a customer statement
• Send a customer a reminder to pay

Sales Overview

This is where most business owners spend their time. It’s where estimates are drafted and sent to their potential customers and it’s where those estimates are flipped into sales invoices once their customers accept the offer and the work is completed.

It’s also where you to setup recurring invoices so that repetitive processes can be automated, minimising risk of errors or omissions for work that comes in regularly from certain customers and clients.

Bank Accounts

This is the area where you will categorise all the bank transactions that are automatically imported from your bank account via a bank feed or from a bank statement you downloaded from your internet banking.

This section allows users to also monitor cash levels, as well as see historic balances for the last 12 months.

It’s not just bank accounts that can be connected in this section. Accounts like PayPal, credit cards, payment processors and loan accounts can all be paired to ensure we don’t miss a penny.

Taxes

Taxes that Xero can estimate and show in real time to you in this area are:

• Self Assessment
• CIS
• VAT

If you purchase the payroll module from Xero, then it will calculate PAYE & NI for you too.

Reports

This section contains everything a business would need to get a better financial understanding of their business. It contains the following reports.

• Profit & Loss to show how much profit the business has made, or loss if times get difficult
• Balance Sheet to show all the assets and liabilities the business has at any one point in time
• Trial Balance to show the balance of each category for a chosen date
• General Ledger to show all the transactions that make up the balance of a category
• Aged Receivables to see who owes the business money
• Aged Payables to see who the business owes money to
• Customer Invoice Report to identify the biggest customers in the business so you can potentially focus more on them

There are over 60 reports straight out of the box, with the ability to customise them and add others if needed.

Add-ons & Connections

There are a plethora of connections that Xero can handle which will make automation of your business processes more streamlined. Some of the main providers that we see used on a daily basis are:

• Dext (formerly Receipt Bank)
• Auto Entry
• Stripe
• GoCardless
• Shopify

The list is constantly growing, so to see the latest integrations check out Xero’s dedicated page here.