How does your finance back office operate? It could be that you’re doing most accounting and finance tasks manually – using a cash book or an excel spreadsheet. It could be that you’re already using a digital system like Xero. Whatever your process, it’s important to step back every now and again and ask yourself…
Category Archives: Xero
15
Sep
Sep
Bringing in a new hire is an exciting time for a business. Your team, profits, customer pool, and business in general are all growing. So let’s start by saying congratulations! With all this exciting progress, it’s important not to lose sight of the details. Setting up a new employee in Xero is an important step…
14
Aug
Aug
Claiming employment allowance means reducing your annual National Insurance liability as a business owner or employer by up to £4,000. Since April 2020, receiving employment allowance is now reliant on you making what’s known as a de minimis State Aid declaration. This may sound daunting, but we’ll break down exactly how you can do this…
29
Jan
Jan
The coding process in Xero allows you to group each item of income in your business – like putting money into different pots. By doing this, you’re able to see a more detailed picture of your company finances and analyse where your money is coming from. So, as you can imagine – when you can…
15
Jan
Jan
It’s important to regularly compare the statement balance in Xero to your actual bank balance. If the bank balance isn’t matching, you’ll want to fix the issue fast because it means you’re reading the wrong numbers and could be making decisions based on incorrect data. Though bank feeds import your transactions daily, and do work…