Get the most out of Xero with these 5 simple steps.

Get the most out of Xero with these 5 simple steps (1)

Great! You are now in Xero and are ready for "beautiful business", right? Not so fast, If you haven't done these 5 steps you are missing out on some of the best features.


1. Set up payment services.

By default Xero invoices are not linked to your payment services and your customers will have to do the old fashioned typical transfer to pay that invoice. By adding payment services like Stripe or PayPal (or both) they can click the link and easily pay that invoice without any hassle.


2. Have multiple accounts.

Especially if you are dealing with multiple currencies. Avoid missing transactions and set up a different account for each currency this will make the reconciling process easier. You can also have separate accounts for your Direct Debits, and one for your GST&PAYG liabilities, ensuring you always have cash to meet your due dates.


3. Get the right setup for your payment gateway.

Whether you are using Tyro, Stripe, GOCardless or PayPal, getting the right setup is key. Think about you business and the number of transactions you'll see each day and whether you want to see every single transaction in Xero or just a daily summary. Sometimes "Less is More" but I also understand the value of data.


4. Set up invoice reminders.

This is a precious Xero feature and although it's basic it will make a big difference. Following up debtors is a time consuming task and this simple feature will automate reminders on invoices due. You can customise the email and the timing according to your business needs. If you need something more advanced then you can look at integrations like DebtorDaddy or Chaser.


5. Setup Custom Reports.

Xero has plenty of reports available and most of them can be customised to your needs. Talk to your advisor and find what are the key metric you should be looking at and set up custom reports according to your needs, if you need something more advanced then you can integrate apps like Castaway, Futrli, or Fathom.

Want to know more ways to get the most out of Xero? Contact us today and empower your business.