Save Time With These Xero Accounting Tips

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As a business owner, managing your accounting process can be challenging and time-consuming. Using an accounting software service like Xero definitely helps shoulder the burden of managing your books but taking advantage of the features can save you hours of time, allowing you to focus on more important things.  

Lucky for you we’ve put together a list of Xero accounting tips below to save you time and it should only take you under only minutes to implement.


Tip 1: Automatic Bank Feeds (including credit cards and some loans)

Most of your business purchases are either deducted from your bank account or charged on a business credit card. To ensure that every transaction has been included in your financial statements, we recommend linking all business bank and credit card accounts with an automatic bank feed. This will import your bank and credit card transactions into Xero.

No more importing, no more manually entering each transaction off of your bank statement.

Tip 2: Set Up Bank Rules

Reduce bank reconciliation time dramatically with bank rules. They are especially useful for transactions like bank fees, interest income and expense as any other regular deposits.

Bank rules suggest a new transaction for you, which saves you time creating a transaction manually. So, instead of having to enter transaction details, Xero picks up information from the bank and applies rules that you have set up – all you have to do is click ‘ok’!

Tip 3: Make The Most Of Default Settings

Do you deal with suppliers your only ever purchase one item from?

Go to their card and set ‘supplies’ (or choose the relevant account) to be the default purchase account. That way each time you create a bill from that supplier, it defaults to that account

Tip 4: Set Up Recurring Invoices & Bills

This feature is great for those regular, ongoing payments and invoices like rent, utilities, monthly services etc.

Save yourself the trouble of spending time repeating the same process of creating invoices or bills again and again! Make the most of the repeating invoice function by creating a template and Xero will automatically create an invoice or bill for you based on the frequency you specified. Xero will put it in the Draft tab if you need to make any changes, and if everything is the same each time, it will go in the Awaiting Payment tab.

You can set up this feature for both invoices and bills. To set this up, navigate to the Repeating tab in each respective category. There you can click “New Repeating Invoice/Bill” and you’ll be able to create a new template or use an existing one, and set up the specifications and details for each. This is a fantastic function and will ultimately facilitate your bill pay and invoicing process.

It can also be a great reminder of payments you might have coming up.

Tip 5: Email Your Invoices Straight From Xero Using Templates

Easily customise email templates inside of ‘settings’ to include any text/message specific to the client or business. You can then email your invoices directly from Xero to your clients, no need to download and email or print and post! If you send invoices on a regular basis, loop back to Tip 4, and set up recurring invoices to send with your customised message included.

Tip 6: Accepting Credit Card Payments

Collecting payment for issued invoices is a pain point experienced by most business. Make it easier by adding a payment service to accept Credit Card payments directly from the invoice you just sent.

Whilst this does incur a small fee, payment services allow customers to click a link on your invoice and make a card payment right there and then, in turn, reducing the time it takes to get invoices paid to you!

View the many options available (Stripe, Square, Integrapay, GoCardless and many more), then create an account and link to Xero in settings.


If you’d like to save yourself hours each month, we highly recommend implementing the suggestions relative to your situation and business needs.

Apart from the above Xero accounting tips, there are many features available in Xero to help automate and streamline your accounting processes. Here at Vision Beyond Business we offer Xero Health Checks. If this is something you’d like to know more about please contact our friendly team today. Call us at (08) 8284 3208  

Sarah Pain, Accountant and Xero Consultant



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