Xero Time-Saving Tips and Tricks

Maximizing the efficiency of your bookkeeping and accounts process always seems like a never-ending journey.

That being said, the goal is to ensure that as many of the processes as possible are streamlined.

Xero is already helping thousands of businesses to improve their accounting process – automating much of the day-to-day tasks to free up time.

Whilst there are some bolt-on apps you can consider using alongside Xero, many of the biggest efficiencies are already within reach using this cloud accounting platform.

Bank feeds

Bank feeds are an excellent way to save time when bookkeeping. They automatically import transactions from your bank account or financial institution straight to your Xero organisation.

As this process is fully automated, there is no need to type out the information or upload it.

Bank rules with Xero

Creating banking rules within Xero is constantly talked about.

Using these rules enables you to assign items with just one click without the need to investigate where they went last time.

Whilst this saves time, it also improves both the accuracy and consistency of your data. In real terms, this means that your Xero reports will be more meaningful.

Email clients directly from Xero

The ability to email clients from within your invoicing screen allows you to send invoices with a few clicks.

This enables you to send your invoices with templated bodies of text which can be filtered by client groups or individual clients.

The setup process is relatively short and saves a great deal of admin time.

Online payments on invoices

If you accept card payment or have a PayPal account for your company, it’s a good idea to include payment links on the invoice.

The process is simple enough, just adding a link to your email template. Xero has said that, on average, users with a link on their invoices are paid up to 15 days faster.

Statement reminders

There’s a delicate line to tread when prompting your clients to pay outstanding invoices.

Often, a customer has simply forgotten about the invoice.

By implementing automated invoice statement reminders on the invoice due date, you can save time chasing customers.

Bespoke customer payment terms

Credit terms granted to customers often vary on a case-by-case basis.

Xero allows you to set payment terms from within your Customer’s Contact Card.

This will flow through each time you generate an invoice for them.

If you need advice on how to implement any of the processes above, contact our team today.

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