Using Xero to automate your bookkeeping
Xero accounting software helps you to stay on top of your bookkeeping, it keeps your financial data secure and it lets you work from anywhere. If you are using Excel or keeping physical copies of your receipts, invoices, and bank statements, now is the time to set up on Xero!
You don’t need to wait until your financial year-end, or if you’re currently using different software, you can also move at any time using Xero’s conversion tool.
In this guide, we show you the benefits of using Xero accounting software and explain why you should move to cloud accounting sooner rather than later.
Benefits of using Xero accounting software
1. Available anywhere with desktop and mobile app
The great thing about having your accounts online is that they’re available anywhere you are. Information is easily retrieved through your computer or mobile app.
2. User-friendly interface
Xero has beautiful, customisable dashboards so you only need to see what is relevant to your key metrics.
3. Time-saving functions
This is one of the main benefits we see using Xero. Monotonous procedures, such as bank reconciliation, when done on Xero are easy.
4. Over 800+ integrations with other apps and plugins
If you’re just starting out automating your bookkeeping, begin by getting familiar with Xero first. Then you can start to advance your dashboard using more software like Futrili, to give you a more enhanced view of your cash flow management.
5. Accurate information
One of the benefits of automating your bookkeeping that you’ll notice straight away is how easy it is to enter and find your information. There is no need to sit down and manually enter each invoice, receipt, or bank statement.
6. Saves costs
Using Xero can save you from outsourcing a bookkeeper because you can do it all yourself quickly and easily on your phone or computer.
Xero is the global leader of online accounting software that connects small businesses to their advisors and accountants. It is ranked #1 by Forbes as one of the world’s most innovative growth companies.
Its user-friendly interface, easy-to-use system, and highly accessible support content make Xero the best choice of accounting software for Startups and SMEs in Ireland.
We are a Xero Platinum Partner, all our accounting teams are Xero certified advisors, and we have the skills and expertise in-house to make automating your bookkeeping easy and efficient.
Talk to us to learn more about how Xero can support your business – we’re here to help.
Get paid faster with Xero
Xero carried out a study on their clients and compared small businesses that used Xero software to those that didn’t.
- Australia/New Zealand customers that used their payment platform got paid an average of 12 days faster compared to ones that didn’t
- In the USA, small businesses were paid 25 days faster when using Xero software
- In the UK, Xero customers got paid an average of 15 days faster than non-Xero users.
Xero connects to your bank accounts
Connect to your bank
Upload bank statements or connect Xero directly to your bank account so you can get live bank feeds on your Xero account. Note that Irish banks are currently not supported until 2022 due to Brexit.
Quick and easy bank reconciliation
This feature allows you to match bank transactions to receipts and invoices already on your Xero account with the click of a button.
Set up bank rules
Want even more automate your bookkeeping even further? You can set up bank rules for certain transactions. This works excellently for wages. Set up a rule whereby every time a transaction appears with your employee’s name, it is posted to it to a wages folder.
Getting paid in two parts? Xero is very straightforward when it comes to allocating two payments to one invoice.
If you trade internationally, Xero allows you to use over 160 currencies and you can benefit from automatic currency conversions.
Set up a direct feed from Stripe, TransferWise or PayPal
See and manage all your payments in one, easy-to-use platform. You can use these as payment services so you can get paid faster!
Xero success story
“One of the main reasons for switching to Accountant Online was their Xero Gold Partner status. It was so simple to give them secure access to my accounts. Within a matter of days, the team had done their magic. My accounts were cleaned up, categorised, and consolidated.
Now, all my bank feeds are pulled into Xero automatically. I use the Xero app to submit add expenses and match up bank transactions. It takes so much guesswork and anxiety out of day-to-day accounting as well as VAT and annual returns. It’s a credit to the team in Accountant Online who are so efficient, professional, and friendly. I’d like to thank all of them for making my life so much easier.”
Send beautiful sales invoices to your clients
Custom templates for invoices
No need to use an external invoice creator, do it beautifully inside the Xero platform.
Set up automatic reminders to customers
Xero helps you manage your credit control by reminding your clients to pay your invoice before and after the pay due date.
Save time by setting up email templates so you can send them quicker to get paid quicker.
Expertly manage your purchase invoices
Ability to upload in bulk
If you use receipt tracking software already, it's likely to integrate with Xero. Or if you're working with spreadsheets there is a template in Xero so you can upload it directly into the software quickly and easily.
Email syncing via Xero software using HubDoc
You can also sync Hubdoc up to your email address and it will automatically look for supplier invoices and upload to Xero.
Simple to amend mistakes
Find & recode
This is a great tool in Xero that we don't see in other software. It's a simple yet effective tool that allows you to find and replace any mistakes.
History & notes
We also like this digital footprint feature in Xero. You can see what changes were made, who made them and when.
Use the tracking categories to enhance your business decision-making
This is a great feature that allows you to split your invoices. Your sales and bills can be categorised into different reports so it’s perfect for the metrics that are important to you.
The dashboard lets you see your business at a glance.
Moving your accounts online is a great way to start digitising your business.
If you feel you’re ready to automate your bookkeeping but need help with the process, feel free to talk to our Client Services Team. We’re happy to talk you through our services.
What about the set up process - is it hard?
Moving your accounts online to Xero won’t be a manually-intensive job if you know how to get it right from the beginning.
The more information you feed into Xero, the more benefits and time-saving features you’ll see.
It might take some time to get used to the functionality but there are excellent video demonstrations online that will take you through each step. There is so much support for Xero users online and because we are Xero accountants and certified Xero advisors, we’re more than happy to help you get set up too.
If you would like to automate your bookkeeping but want to outsource the task of getting set up on Xero, our team can also complete the transition of your system over to Xero for a fixed fee of €300+ VAT. Talk to us about this service and we can send you more information today.
How to make sure you're using software correctly?
- Join our Take Your Accounts Online With Xero webinar with Certified Xero User, Carl Doolan. This is a free, monthly webinar that will introduce you to online accounting software and the benefits of taking your accounts online.
- Avail of a free trial. If you’re still not sure what software to use, avail of a free trial before you commit to a subscription.
- Join our Live Online Bookkeeping Workshop. Every month we host a training workshop for first-time users to learn how to use accounting software. You can also check out our Xero Set-Up guide.
If you would like to talk to our Client Services Team about how using online accounting software will save on your accounting fees, call us on +353 (0)1 905 9364 or email firstname.lastname@example.org.
Why automate your accounts using Xero?
In conclusion, here are a few reasons why we use Xero software in-house and why we recommend it to you:
- Beautiful software and easy to use even if you’ve never used online software before
- Multiple users can log into the software so you don’t need to worry about extra costs
- Helpful guides and blog in case you ever get stuck
- Great support from the Xero team through phone or email
- Superior functionality compared to competitors means you don’t need to find alternative solutions for basic information
If you would like to talk to us about using Xero in your business, get in touch with our Client Services Team now.
Tom is a Fellow Chartered Certified Accountant (FCCA) and Chartered Tax Advisor (CTA) and is Accounting Team Manager at Accountant Online. Areas of expertise include Accounting, Compliance, Taxation relating to small business and company directors.