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3 cool Xero features to help manage your business accounts

By October 21, 2019Uncategorized

Since it was first released, Xero has become arguably THE piece of online accounting software to use. It operates entirely in the Cloud and has completely transformed how businesses can manage their accounts now. Using a Cloud-based package like this will also become essential in the future as the Government presses on with plans to make tax returns digital. Of course, being able to use Xero to streamline your accounting process can only be done if you know how to get the most from it.

If you need a few handy tips to begin with, the below are some cool features you could use.

Use the mobile app

This may not technically be a feature within Xero as such but it is a really good tip on how to get more from it overall. By downloading the mobile app, any entrepreneur can look after their business accounts on the move or wherever they may be. From creating invoices to recording payments, you can use the app to update your accounts more frequently and avoid having to leave this until you get back to the office. This means you always have the freshest data to view and can update your accounts quickly at the time it needs doing.

Cash coding feature

If you have not used this before, then it will save you a lot of time. Cash coding simply allows you to code large numbers of transactions very quickly. Simply sort your list of transactions and then do all the coding as one job. This feature is really good if you have lots of cash payments to record or have not worked on your business accounts for a while. If you also learn the appropriate keyboard shortcuts, it gets even faster.

Find and recode feature

When it comes to coding up transactions, it is easy to sometimes make mistakes. The Find and Recode function is the ideal way to resolve any you notice afterwards. With just a couple of simple clicks, it enables you to change the codes on numerous transactions which will save lots of time.

Professional Xero accountants in London

This piece of Cloud accounting software has many great features to make managing your accounts simpler. If you would rather call in the experts to handle it all for you though, let Cornel Accountants help. Whether it is simply looking after your annual or quarterly tax return or more in-depth assistance, we can deliver. Based in London and Amersham, our team of fully qualified accountants have masses of experience in using Xero.