One of the reasons you chose Xero as your accounting software package is its rich set of features made possible through cloud technology. One of those features is online invoicing. This feature makes invoicing your clients a breeze whether you are using a mobile device or your computer.
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.
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.
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