Here are Xero’s top tips for saving time when using the cloud accounting system.
With all but the simplest software there are usually different paths to the same end, and some of them get you to the desired destination more quickly. So to help you use the cloud accounting system more efficiently, Xero has provided the following tips.
Use the Xero Me app
The Xero Me app for Android and iOS (pictured above) lets you access payroll info, approve timesheets and so on from your smartphone. With the mobile app, you can now keep tabs on critical information with the tap of a finger. Employees can use the app to submit their timesheets and leave requests, reducing the data entry load on admin staff - or the boss!
Use bank feeds
If you've been reading this month's articles about the various accounting products you'll realise this is a common theme – and with good reason. Unless you have a very small number of bank account and credit card transactions each month, activating bank feeds can save a whole lot of time. Instead of manually keying or importing data into Xero, all those transactions will automatically flow into the software.
Use the plus button
Clicking the plus button in the top menu bar lets you quickly create an invoice, purchase or certain other transaction. Small businesses need whatever efficiency gains they can find, and saving a little time on common tasks such as creating invoices or purchases soon adds up.
Customise the account watchlist
Add the general ledger accounts you want to track to the dashboard’s account watchlist. You can see year to date and month to date figures, and including the accounts that you find most important means you can get the information you need in a way that helps you make the right decisions even faster.
Customise the profit and loss report
The default profit and loss report layout contains all the information you need, but it isn't necessarily aligned exactly to your business's structure. Customised the profit and loss (and other reports) let you spend less time digging around for the information you need. For example, you might want to see the full level of sub-account detail in some areas, while in others a top-level account total may be all you need.