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The main news in the Xero-sphere over the summer is the way bank feeds will be operating. New EU standards, that are due to take effect from 14 September 2019, will change the way that some banks connect to Xero. Specifically, Yodlee & Barclays bank feeds (in the way that they are at the moment) will no longer be available, so to comply with the new requirements, Xero will be migrating existing...
Setting up a payment service through Xero (so your customers can pay you using their debit card or credit card) can have AMAZING effects on both your cash flow and your time. Buyers are used to paying instantly when online shopping - one-click payment makes this easier. When a payment service IS offered to your customers: Invoices are paid on average 35% faster * Your waiting time for payment is cut by 13...
Keeping your data secure (especially your financial data) is as important as ever before. Find out why two-step authentication is important Two-step authentication is used by many internet banking and online services to provide an additional layer of security, where you use a device to generate a random code to access your account. In this case, by using the Google Authenticator app on your phone. I'd also recommend that you ask all users in your organisation...
Doing work for your customers is one thing. It's another to ensure that you're paid, and on time. Unfortunately for many small businesses, the latter takes up as much time as the work did itself, and it's likely the task that gets done in the evening or weekend to keep your working day free to do jobs (or the other way round depending on your trade) - but in almost all...
When you haven’t got an automatic bank feed set up, here’s a quick guide on how to manually import the bank transactions… log in to your internet banking and download as a csv file open up the spreadsheet and delete any unwanted columns (the ones you want are date, description, amount - things like balance are irrelevant) save as a csv from the Xero dashboard, on the bank account you want to import a...
Xero will save you lots of time in bookkeeping, financial review and admin anyway - but imagine shaving another 10 hours a month (that's over 2 hours a week) off it! Think of all the other things you could be doing instead of the business admin! It's all completely possible ...
Week starting Monday 15 February...
The problem - If you are currently a business owner or employee that has to travel for client meetings, to collect stock or a trip to the accountants, you will know the burden of recording the business mileage. First you have to write down where you start and where you are going to, find out how many miles this is and try to work out the ever changing fuel element...