Now that you have set up your live bank feed in Xero, it is time to learn how to reconcile your accounts. Don’t worry, Xero makes bank reconciliation easy and fast. Just click a couple of buttons and let the software do its thing.
A good accounting system makes it possible to easily manage all your financial resources – even petty cash. Xero is such a system. You can set up a petty cash account in Xero as easily as you can a bank account. You can easily record transactions and even transfer money from a bank account into the petty cash account. Everything is explained in detail below.
It would seem that in the era of cloud computing and software as a service (SaaS), more accounting professionals would leave behind their paper ledgers and legacy spreadsheets. Apparently, that is not the case. A surprising new report suggests that far too many accountants are not keeping pace with technology.
Xero is all about running your business more efficiently with technology. When you connect Xero with your bank account, it makes daily reconciliation so easy that you will actually look forward to doing it every day. Information flows freely via a live bank feed, so you’re never left wondering whether transactions have cleared or not.
Difference Between a Sole Trader and a Limited Company?
Wondering what are the differences between a limited company and a sole trader?
As an online tax accountant, we have been asked to create a comprehensive list of differences between operating as a sole trader and limited company. If you have any questions on the below feel free to leave a comment in the comments section at the bottom and I will get back to you. Read more
Small business success does not rely exclusively on marketing alone, but a strong marketing plan certainly helps attract new customers. It keeps current customers in the loop, too. Marketing is essentially conveying a message to your target audience, a message that invites that audience to do business with you. Read more
The ability to automate certain time-consuming tasks is one of the things that drives business owners to transition from in-house accounting to an online provider like More Than Accountants. Automation is a wonderful thing. For example, consider reconciling your accounts with our automatic bank reconciliation tool. You will never look at daily reconciliation the same way again. Read more
It goes without saying that More Than Accountants fully endorses the use of state-of-the-art accounting software. By ‘state-of-the-art’, we mean something that is fairly modern as opposed to a legacy system that a company might have deployed 7 to 10 years ago. Read more
Some of the most basic components of business success have not changed over hundreds of years. Others have. For entrepreneurs, the hardest part is deciding when to embrace an old business principle and when to replace it with something new. An entrepreneur who does it well is one poised for success. Read more
UK SMEs rely heavily on financing to address ongoing business development and expansion. Unfortunately, traditional financing has been harder to come by since the start of the financial crash a decade ago. This has given rise to a new stream of alternative financing solutions including peer-to-peer and revenue-based financing. Read more