This functionality allows you to split your screen into two or more parts and open different Xero tabs or windows in each part. Multitasking and comparing data can help you improve your productivity and efficiency. To sync your Xero data with Google Sheets, use a third-party app, such as (G-Accon for Xero).
How to think like a cyber criminal to protect your business
If using multiple currencies is a priority to you, consider other platforms that offer this capability at a lower cost. Zoho, for example, is accounting software with a free invoice platform that allows you to bill in multiple currencies. Hubdoc is a cloud-based document management app that integrates with Xero.
- As you continue to use Xero, this shortcut will save you time and help you develop a flow within your accounting process.
- I’m now excited to share some new reporting features that have just landed — as well as a few that are coming soon — that will make our reports even faster and easier to use.
- No set up is required, but you must be connected to an online payment provider such as Stripe, GoCardless, or Paypal.
- Read our 2024 Xero review to find out if it’s the right solution for your business.
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If you’re trying to juggle multiple different logins, you might forget to save your work or save it in the wrong organization. This one of our Xero tips deals with a practical tool that many users miss when learning how to use Xero accounting software. Xero has an inbuilt calculator that allows you to perform basic math functions directly in certain fields.
Invoicing apps
If you spot any discrepancies or errors, you have to fix them to keep your accounts current. By connecting your bank feed to Xero, the accounting software will suggest matches for transactions in your invoices or bill payments. Xero also enables bulk reconciliation when you’re handling a lot of unreconciled transactions, saving you even more time.
I like these apps for their simplicity and usability, and I look forward to the planned enhancements (Xero hasn’t specified what exactly these are). These templates zero in on subsets of data I haven’t seen on small business accounting sites, like Duplicate Statement Lines and Foreign Currency Gains and Losses. Some filter xero blog options are also unusual and creative, like Profit Per Item and Outstanding Tax. Customization options are good overall, and you can save your modifications as custom reports. Plus, by embedding Airwallex’s Payment Links into your invoices, your customers can pay in multiple currencies using 160+ payment methods.
Customise your management report pack
Instead of efficiently uploading data, you’re stuck manually entering totals, dates, and bank transactions into spreadsheets. Handling financial audits for clients becomes a hassle when bank statements aren’t available in CSV format for Xero. Sync Xero with software you already love or easily find and try new apps designed to save your business time and money at the Xero App Store. We also listened to your feedback and switched the total column on by default, as well as displayed whether reports are ageing by due date or invoice date. You’ll have the option to add the contact account number to your report from the column dropdown list, too (we’re planning to add this column to other reports, so stay tuned). You can also save custom reports and can hide any rows you don’t want by using a filter.
Highlights include support for Gusto payroll, a useful inventory management add-on, and a capable collection of mobile apps. Upcoming enhancements like full bank account reconciliation and integration with Bill (for accounts receivable and payable) should make Xero even more competitive. Transaction templates could be simpler to customize, however, so we continue to recommend FreshBooks and QuickBooks Online as our Editors’ choice winners.
In addition to adding customer data in CSV or TXT format, you can download templates for data like bank statements, budgets, Charts of Accounts, fixed assets, inventory items, and invoices. For manual entry, the record templates cover basic contact details capably but lack extras that Zoho Books has, like portal language, price list, and reporting tags. After you set up an account, Xero suggests a handful of accounting tasks to help you learn the ropes. You can play with the app using a demo company and fake data, which is the best place to start practicing.
For example, you can create a role for your Accountant, Bookkeeper, Manager, Salesperson, etc., and assign different access levels to your Xero data. Although this Xero trick can definitely save you time and simplify your process, you should still be very cautious about working in multiple organizations at once. Even with different browsers, it’s so easy to record a transaction in the wrong set of books, and you might not catch it until the end of the year. To access the demo company feature, click the list icon to the left of your company’s name on any page and select My Xero. At the very bottom of the next screen, you will see a link to Try the Demo Company.