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If you are an entrepreneur running a small business or new start-up, then keeping on top of your accounts is essential. This will mean you always have your financial records up to date for when a tax return is due or if HMRC asks to take a look at them. It really is no fun trying to do this all in a few hours when the call comes! One way in which an increasing number of business owners are choosing to do this is with the impressive Xero accounting software.

What is Xero?

In simple terms, Xero is a cloud-based piece of accounting software. It makes it much easier to record your organisation’s financial information and keep a clear record of it all. In addition, it can help with all the other financial tasks you may have from payroll to cash flow.

Great Xero tips to follow

One of the great things about this software is that it is pretty easy to use. This doesn’t mean it is not packed full of powerful features though! Here are some awesome ways to get more out of it.

1 Set up customised roles

One of the best things that can be done in Xero is to create customised roles for each user. The beauty here is that it means you can set up a role for anyone who impacts your organisation but without letting them access any information you don’t want them too.

2 Use the Plus icon

If you are using cloud software for financial purposes then it is because you want something that makes it easier and faster. The Plus icon is superb for this! Located at the top right as you log-in, clicking on it will allow you to do many of the most common transactions faster.

3 Use Unreconcile too

Another great button to know about is the Unreconcile one. This will allow you to quickly fix any error you may have made when whizzing through reconciling your business accounts. If you match a transaction incorrectly then you can use the Unreconcile button to resolve the issue in no time at all.

Contact us for more Xero help

Although this software is great to use, you may simply not have the time or not enjoy doing financial work. If this is the case, give us a call today so we can help. We are a modern firm of cloud-based accountants who have helped many start-ups and SMEs with their accounting.

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