For many clients it is the small daily tasks that if reviewed for better processes, will give you more time to focus on important activities within your business. Your business’s success is vital to the Australian economy – MJJ can help your business to be resilient during this pandemic. Our team at MJJ Accounting have provided a few Time Saving Tricks for your Xero Accounting Software, thank us later!
1.Download The App
Xero has an app that allows you to take photos of your receipts so they can be attached to your expenses when coding or set up as a bill (and then matched).
This will reduce queries from MJJ Accounting (us) as we will have the details when reviewing your file and also ensure compliance with the ATO if you were to have an audit in the future as your receipts are easily located.
It is important to note that you want to download the Xero for business app.
It will allow you to:
- View and process accounts from anywhere with an internet connection
- Take photos, upload and process receipts
- Helpful for keeping track of your GST
- Keep track of all paperwork wherever you are
- Keep Your Contacts Up To Date
When invoicing from Xero it is important that your Xero contacts are up to date. By ensuring this is up to date it should ensure the invoice is emailed to the correct person. Also assist with follow up for debtor’s process which may ensure you are paid faster.
- Complete all contact details for clients, suppliers, sub-contractors etc.
- Makes invoicing much faster
- All information in the one place
- Ability to see full history of sales and transactions associated with any contact
- Email invoices directly from xero
- Set Up Recurring Invoices
- Great for client who are invoiced the same amount each week or month
- Set up a repeating invoice and Xero will send the invoice each week or month on the date you choose
- Choose the date you want the repeating invoices to stop
- Automatic Matching- Rules
Did you know that in your bank feed you can set up rules for items such as loan payments etc. that you don’t receive an invoice for. By setting up a rule it will ensure that the transaction is coded to the same account each time which will improve the accuracy of your Financial Reports which in turn will help with decision making.
- ABA File for Payroll
To pay your wages, we suggest you use an ABA file in future, to avoid discrepancies in the wages being paid and it will also save you time.
Xero produces payment files (ABA files) for download. You can import these files into internet banking and use them to make batch payments.
To download a payment file (ABA file) from Xero please follow the below instructions:
- In the Payroll menu, select Pay employees.
- Click the posted pay run period you want to view.
- Click Pay Run Options and select Download ABA.
- Save the file and import it into your internet banking.
Contact your bank if you can’t import your payment file into internet banking.
If you have any questions on how to use Xero, please phone us at the office on 07 5451 1118. Alternatively, you can email our team at firstname.lastname@example.org