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Our top tips for getting set up on Xero
19 August 2020

We get lots of interest from people looking to use their time to get themselves set-up on Xero accounting software. So we’ve decided to help by giving you our top tips on things to consider, how to get started and when to ask for help.

We’re starting off by …


‘Keeping it clean’!

The best time to move to any new accounting system is from your accounts year end. This keeps it clean, gives you a clear cut off date and means that you have opening balances from your last set of accounts to enter.

Even better, if you’re setting up a new business, get Xero up and running from the outset. Then your bookkeeping is ready to grow with you.


Plan before you start

Our second tip is to think about what you need from your accounting system before you get started.

It might not be what you have now. You might want to include:

  • Your own cost and sales categories
  • Stock lines and inventory tracking
  • Expenses tracking
  • Project management

Xero is about getting up to date financial information not just keeping the VAT man happy … so make sure it gives you the visibility you want and need.


Make it real time

Having up to date bank transactions that are ready to reconcile is one of the key benefits of Xero so don’t miss out.

Setting up your bank feed is easy. Simply enter you bank account details and follow the instructions to link your account to Xero.

Don’t forget to do this for all your accounts including savings accounts, credit cards and PayPal.


Get paid faster

Our fourth tip is to use Xero to chase unpaid invoices by setting up automated invoice reminders when an invoice payment is either due or overdue.

You can create up to five invoice reminders to send out to your customers, and don’t worry, you can turn them on or off for specific clients if needed.

Don’t be a dummy

Lots of people don’t realise that they have access to a Demo Company in Xero, with fictional data so you can try out features before using them for your own organisation. Only you can see any data or transactions you’ve added, so it’s perfect for entering dummy data and trying things out before going live with your own Xero account.

If you would like any further advice, please do get in touch at info@yoursupportteamltd.co.uk.