How to use XERO software for your business

How to use XERO software for your business

How to use XERO software effectively for your business accounting

XERO is a cloud-based bookkeeping software that can be used to manage finances for businesses. It can be accessed anywhere, and multiple people can log in and use it at simultaneously. However, it is important to keep different bookkeeping data for each business.

Here are the first steps that you should take to set up your XERO software for your business.

However, if you need help with all these time-intensive tasks of setting up XERO, just talk to us, and we will do that for you.

Here Is How to Use Xero Software Effectively

The Xero Dashboard video

The Xero Dashboard video is a great place to start if you want to learn how Xero works. The video is located in the top left corner of your dashboard and will walk you through the basics of Xero. Listening and watching the videos is essential to get the most out of your Xero software.

Set-Up Your Organisation Details

When setting up your XERO software, you will need to enter some key details about your business. It includes your company name, email address, and physical address.

You will also need to enter your company registration number and registered office address. Ensuring that all of this information is correct and up-to-date is vital.

Add Your Company’s Branding

Once you have set up your XERO software, you will want to personalise it for your company. It includes adding your company’s branding, such as logo and colours. To do this:

– Click on the organisation name and select settings.

– Click on Invoice settings and choose which template to update.

– Upload a new logo or replace an existing one.

Bank Account Feed Set-Up

Setting up your bank account feeds in XERO software is a quick and easy process. You will first need to determine whether your bank provides direct bank feeds to get started.

You can visit the partner (direct) bank feeds page on Xero and click your region. You will see the list of banks that Xero has direct feeds with.

Once you have confirmed that your bank is listed, you can then fill out an application form. Keep in mind that only one feed per bank account is supported.

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Chart of Accounts Set-Up

If you have existing charts of accounts in possession, for example, if you were using some other software, you can import those into XERO.

This will save you time setting up your books and ensure that all your transactions are correctly categorised. You can modify the default chart of accounts to match the needs of your business.

For example, if you have specific accounts that you want to track, you can add them to the chart of accounts. If you are your bookkeeper and have modified the default chart of accounts, you can add, customise, or delete these accounts to match the needs of your business.

Reconcile Your Accounts Often

There are a few key reasons to reconcile your accounts often: to stay accurate, to use Xero add-on apps more easily with up-to-date data, to have a clear picture of your cash flow, and to ensure that all transactions are accounted for.

Reconciliation is the process of reconciling accounts between a business and its customers. It means matching transactions in each account and ensuring that they balance.

In addition, reconciling accounts can help businesses avoid potential financial stress consistently. By ensuring that all transactions are recorded correctly and that debts are paid promptly, companies can reduce the likelihood of fraud and stay afloat during difficult times.

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Set-up Payroll

Xero’s Accounting Software Payroll can help business owners to monitor their staff costs and keep everything in one place.

The payroll overview is a comprehensive guide that takes you through each step of the setup process, from adding employees and setting up PAYG tax, creating payslips, and filing end-of-year returns.

If you are transferring payroll from another system in the middle of the financial year, don’t forget to add the opening balances.

Add Payment Services

Adding payment services to your Xero account is a quick and easy way to make it easier for your customers to pay you. To add payment services, navigate to Settings -> Invoice Settings -> Payment Services.

You can then add a various of payment services, such as PayPal, Stripe, or GoCardless. It will make it easier for your customers to pay you without going through extra steps.

Set-up Payment Reminders

Setting up payment reminders can be a great way to help you get paid on time. It can also help to avoid any late payments that may occur.

This reminder will ensure that you are able to keep track of all payments and avoid chasing payments from customers who have already paid. Additionally, chasing payment can tarnish your reputation with clients.

Add Users

You can add an unlimited number of users to your XERO software account.

You can set different permission levels for each user, depending on their role within the company.

These permissions allow you to access only the information and features each user needs to do their job.

Connect Apps

Xero offers a wide range of apps with different functionalities that can be helpful for businesses. The Xero app marketplace is the best way to explore all of your options and find the right apps for your business.

If you work with an accountant, they may need to add year-end conversion balances and can ensure that your year-to-date figures are as expected.

Connect apps allow users to connect with friends and family, find new opportunities, and get advice on a various of topics.

There is a variety of connecting apps available for users to communicate with friends and family, find new opportunities, and get advice on a various of topics.

Connect apps can be used for various purposes, including finding new opportunities, getting advice, and connecting with friends and family.

Connect apps are available on various platforms, including desktop computers, phones, and tablets.

Learn Basic Reports

To publish a report in Xero, you first need to create it. Reports can be created from scratch, or you can use one of the many available templates.

Once you have created a report, there are a few steps you need to take to publish it.


Here are the basic steps that you should do once you get XERO. But all these might seem challenging, time-consuming, and daunting. Thus, if you want a professional to set up XERO correctly for you, just give us a call or write to us, and we will take care of it for you.