3 Tips for Exploring the Full Potential of Xero

Laptop with Xero dashboard

Xero is a cloud-based software that allows you to manage your entire accounting process from any device. Its user-friendly features make your business banking as accessible and streamlined as possible!

If you’re still yet to discover the wonders of Xero, today’s blog is here to change that for you!

Bank Connections

Xero allows you to connect your bank for an up-to-date view of your finances and transactions. The Xero app allows you to accept payments as well as check transactions and payroll.

You can access Xero from multiple devices, for example at home on your laptop, or from your phone, on the go!

The Accessibility and Safety of Invoicing

Your entire invoicing process can be set up and monitored using Xero’s invoicing feature. Xero allows you to customise your invoice templates by inserting logos and adding fields and messages where necessary.

Online invoicing through a software like Xero creates a more secure payment environment. By sending an online invoice you are less likely to experience fraud. You can also edit payment options so that customers can pay how they want – which is a win, win for both parties!

You can also send invoices to a set schedule, including repeating invoices! You can schedule automatic reminders to be sent to customers and clients close to their payment date.

The Ease of CIS

The Construction Industry Scheme (CIS) requires tax to be deducted at source when payments are made by a contractor or subcontractor. Whilst this can be a complex topic, Xero simplifies it and streamlines the entire process for you from start to finish.

Xero allows you to create a list of contacts for your business. This can be useful for subcontractors too. Add or import them as contacts, then confirm their CIS scheme deduction rate with HMRC. Xero automatically calculates the right amount of CIS deductions on your invoices from your mobile, and bills and invoices from your desktop, the moment you create them.

These are just a few of the great features of Xero! Download the app today to explore how much Xero can do for your business. If you’d like to know more about how we use Xero at Future Cloud, get in touch today!

Email us at info@future-cloud.co.uk, or give us a call on 01636337069!

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