Welcome to episode 2 in our line of Xero tutorials.
Provided to you by Xoba - Chartered Accountants in Preston.
In today's episode, James takes you through every step you will need to follow when doing your bookkeeping on Xero. Xero is a powerful package, in fact, we strongly believe it is BY FAR the best system for small and medium-sized businesses in the UK. Moving to Xero can completely streamline your accounting and bookkeeping function, allowing you to see the performance of your business like never before. There are some very important steps you need to be aware of when working on Xero and these are laid out very simply in the episode. These are:
1. Recording income (sales invoices)
2. Recording expenditure (bills)
3. Reconciling bank account(s)
4. Error checking
You may already be aware of adding invoices and bills, but where it gets tricky is the reconciling of the bank account(s) correctly. We cover every aspect of this in the tutorial.
Even with the best controls and best intentions, you will find that you make errors. Bookkeeping is a large task and human error is all too easy! That's why error checking is the ultimate way to ensure your records on Xero are spot on. It's a very important step and is something 99% of Xero users will not be aware of. Knowing these relatively easy tricks will help you save a huge amount of time in the long run, allow you to gain accurate information from the system, and save money in the long run.
A FREE DOWNLOAD:
Click here to download your free copy of MONTH END CHECKS:
xoba.co.uk/2021/01/12/xero-tutorial-2021/
Month-end checks are part of the error checking step and will help you to stay on top of Xero with ease.
As always, Xoba is available for any Xero queries you might have. So, if you find setting up Xero by yourself is too hard, please do get in touch with us. We're here to help.
Xoba - Chartered Accountants in Preston:
xoba.co.uk/
SOCIAL MEDIA:
Xoba-Limited...
XobaAccountants
www.linkedin.com/company/xoba...
Music attribution: Bensound.com