10 ways to save 10 hours with xero
Just think of all the other things you could be doing instead of spending all your time doing the books…
As always, the key is in the ingredients - you only ever get out what you put in. But when it’s done correctly, this is where the magic starts to happen!
So, how do you save so much time by using Xero?
It’s all completely possible to save lots of time with Xero. The key is using as many of the existing functionality that already exists within Core Xero, and ensuring that all of the automations you’re using are correctly set up. Add in any appropriate Xero Add Ons, and you’re well on your way to creating an efficient system!
getting xero set up correctly from the outset
Below is our 10 top ways to achieve time savings with Xero, how to avoid the dreaded duplication, and how to create a paperless system for yourself!
implement these, today, and start saving time!
1 - the bank feed
This automatically pulls through the bank transactions & they’ll be sat in Xero ready for you to reconcile. Without the bank feed, you'll be entering transactions manually, either line by line or CSV, which takes both a lot of time and patience!
2 - master the art of bank rules
Set up bank rules for those regularly recurring bank transactions that don’t relate to an invoice or a bill (think bank charges, pension payments, your drawings, and the sort). Speeds up the process of bank rec.
3 - the xero app
When you have a few minutes, make the most of the app rather than waiting to do it from the PC - reconcile the bank, keep up to date with who owes you what, snap photos of your receipts before you lose them, and even make phone calls to customers.
4 - the xero me app
Using Xero Payroll? Then ensure your employees have the Xero Me app on their phone. Share payslips, deal with simple timesheets, deal with time off requests & have everything like this all in one place & accessible from the touch of a button in the app!
5 - use purchase orders to suppliers
The purchase order then creates the purchase invoice with all the details and prices, saving you the duplication work later down the line.
6 - use quotes to your potential customers
These details are then transferred onto sales invoices when the quotes are accepted, saving you the duplication work later down the line.
7 - offer online payment services to customers
By using payment services such as Stripe, eWay, Go Cardless and iZettle, you make it really easy for customers to pay you, and less time for you in chasing money (no-one likes this task). Add in the fact that the invoices paid are automatically marked in Xero as being paid, the bank rec time is also sped up.
8 - the xero dashboard
The Xero dashboard shows you key data & metrics, and is customisable. You can mark your regular reports as “favourites” & there are various direct links to the different sections, both ensure you find what you need quickly.
9 - keep everything in xero, in one place
Don’t keep paperwork! It takes up way too much space & you just don’t need to have it around you! Use one of the Core Xero features (or look to the Xero App Store) to ensure you get your bills stored against your Xero transactions. It doesn't just have to be financial data that's attached either - you can attach literally anything (as long as it’s in PDF form) to a bill, invoice, customer or supplier. Just look out for that little A4 icon. Never waste another minute hunting through physical files or emails for important information!
10 - submit vat returns
When everything's reconciled and in there for the period, file the VAT return in a few clicks!
Ready to start saving oodles of time?
When your Xero is set up in the best possible way, you quickly start to see the powerful benefits - especially time savings. Why not try one of these tips today?
Happy Xero-ing folks!