Whether you’re a new or long-term user, here are 10 useful things you may not know Xero can do…..
1. The ‘+’ button
This is a shortcut to the key day to day functions in Xero.
Log in and find this button on the right-hand side of the blue banner across the top of your screen.
Click here to raise a sales invoice, create a bill, or enter a spend or receive money transaction.
2. The Xero ‘demo’ company
If you want to try something out in Xero to see how it works, but not mess up your own data, use the demo company.
To access, log into ‘My Xero’ and follow the ‘Try the demo company’ link.
The demo company uses fictional data. You can reset it at anytime. (It will automatically reset every 28 days).
3. Xero Files
‘Files’ is an online filing system which is useful for storing documents related to your accounts. It is a secure way to share documents such as bank statements, loan agreements or contracts with your accountant.
You can also create transactions directly from Files.
Access ‘Files’ from the organisation name drop down menu on the top right of your screen.
Upload documents to ‘Files’ directly or via a Xero email address.
4. Reports
To enable quick access to a report you use on a regular basis, mark it as a ‘favourite’ and it will appear on the accounting drop down menu.
In the Reports menu, select the report and click the star next to the report name to mark as a favourite.
Xero includes many reports as standard, equally you can edit or design them from scratch to meet the needs of the business.
5. Budget Manager
Set up a budget in Xero using the ‘Budget Manager’, which you will find by selecting Reports from the Accounting Menu.
Update budgeted figures as necessary when forecasts change.
Compare budgeted figures to actuals using Budget Manager.
6. Tracking
Set up tracking categories in Xero to see how different areas of the business are performing. For example you can track activity by department, product line or location.
Once you have set up tracking categories, allocate transactions to them.
Filter reports using tracking categories. This produces better quality information from which good business decisions can be made.
7. Invoice Reminders
You can turn on automatic invoice reminders in Xero.
Select invoices from the Business menu and click on the clock icon to activate.
This feature will automatically send a reminder to your customers when payment is due or overdue on an outstanding invoice. You can tailor the timing and wording of the reminders to suit your sector and style.
8. Branding
Upload your company logo, or header to Xero to create a branding theme for invoices, quotes, statements etc.
Create professional looking documents to send to customers, quickly and easily. If you have different departments or types of customer, create different themes to suit each of them.
9. Search Bar
This is a useful way to find your way around the software quickly and easily.
Log in and find this button on the right-hand side of the blue banner across the top of your screen.
Check this xero article, which details the keyboard shortcuts you can use.
10. Xero Accounting app
An app is available for all subscribers on both apple and android devices.
Use the app to keep on top of finances whilst you are on the move.
You can access many of the key features of the desktop software via the app, for example, complete bank reconciliations and manage invoices from your phone.
How to use Xero
Finally, you can learn more about how Xero can work for your business, by contacting our team of experts at Wessex. To find out whether you are getting the most out of your software, book one of our Business and Xero Reviews.
