Xero accounting software is a seriously brilliant tool that you need to start using if you’re in business. However, we’ve noticed that some organisations that use Xero day in, day out, sometimes miss out by failing to use certain features that could enhance their operation.
In this blog, we’ll go over some of those features, explaining how to use them where relevant. You won’t want to miss this one.
Customise your Xero accounting dashboard
You can begin by changing the dashboard, its layout and organisation to better suit your needs and preferences. There are lots of ways to do that, such as prioritising key financial data like cashflow, accounts payable/receivable or profitability.
By customising your xero accounting dashboard to show the information you need the most at any given moment, you’ll be able to work more efficiently, reduce the amount of time sifting through unnecessary data, and make informed decisions more quickly.
Bank reconciliation
Bank reconciliation is by far one of the most useful features of Xero, so if you’re not using it, you’re seriously missing out. Using this tool, you can automate bank reconciliation, which sees Xero match the transactions in the books with those in your bank account.
What’s even better, though, is how you can customise the rules that Xero uses to categorise transactions based on predefined criteria, saving you even more time. For instance, one rule allows you to categorise all transactions from a specific vendor as ‘office supplies expenses’.
Customised user rules
Xero also allows you to customise the user rules, which is another fantastic feature of the software. By customising the rules of each login, you can give each one different levels of access to data and varied capabilities as you see fit, That allows you to collaborate with a range of people without inadvertently sharing sensitive information.
To set up a user role, begin by clicking on the settings tab and go into the general settings. Next, select ‘users’ and then ‘add a user’. You’ll then be taken to a screen that lists six different predefined roles, which can be customised further. If you need extra information about each role, click the link at the bottom of the page that says ‘understand user role details’.
Invoice branding
It’s also a good idea to look into creating different invoice branding themes so you can establish a consistent and professional image.
To set up an advanced invoice template, you need to add a new DOCX template, which you can do by doing the following:
- click the organisation name, select ‘settings’ and then ‘invoice settings’
- click the ‘new branding theme’ arrow and select ‘custom.docx’
- enter a name for your template and click ‘OK’
- next to your new template, click ‘download’ to download a ZIP file of templates.
You can create more than one branding theme for your business, letting you create invoices for specific purposes or target audiences. For example, different themes can be created for recurring invoices, one-time projects or different payment terms.
Automate invoice reminders
Customers sometimes need a budget for them to send through their payment. But that relies on you remembering to nudge them – and if you don’t, you’re not getting paid on time. That can be frustrating because it’s easy to forget when you’re busy.
With Xero accounting software, though, you can automate those reminders so you don’t need to spend your time chasing payments up. Xero has three default reminders built into the system, so all you need to do is switch them on. However, if you want to add more detail or create new reminders, you can do that too.
Interested in finding out how else you can get the most out of Xero accounting software? Get in touch with us today.