Contact us on 07 3263 7030 or tax@mcfillin.com

Are you Getting the Most out of Your Accounting Software?

Are you Getting the Most out of Your Accounting Software?

At McFillin our preferred accounting software is Xero. If you are not already familiar with Xero, you can learn more on their website here.

Xero has many features available to make running your business easier. If you are new to using Xero, or already use Xero every day, there are some features you may not know about. We have compiled a few of our favourite tips and tricks below.

 

  • Xero bank feeds – Xero can connect to your bank and automatically upload your transactions each day ready for reconciling

 

  • Bank rules – For regular or repetitive transactions, you can create bank rules within Xero to automate your reconciliation process. The rules work by picking up on characteristics such as a particular dollar value or transactions containing certain phrases to allocate according to a pre-set treatment, making reconciling as easy as clicking a button

 

  • Splitting transactions – Certain day-to-day transactions will have multiple components, such as multiple invoices being paid at once, or only part of a total containing GST. Xero makes it easy to split up transactions exactly how you need all from a single window

 

  • Store bills, docs and files safely – Xero can be used as an online filing system to manage & share documents, contracts, bills and receipts safely from anywhere. These saved files can be shared with your accountant, bookkeeper or employees

 

  • Create online quotes in minutes – Using Xero, your business can easily prepare and send quotes and estimates that look professional and include all the details you need. Create online estimates and quotes from the app or desktop software, using contacts, inventory and pricing info you have saved. You can then email a PDF or link to an online quote directly to your customer

 

If you would like to learn how Xero can help your business or would like to receive additional training on how to get the most out of Xero, please do not hesitate to contact our office!