Purchases/Expenses and Payables Management: Running Sales and Receivables Reports and analyzing important bits aging analysis, key customer analysis, trend analysis Reconciling the payments received in the bank (within Xero). Receiving full/partial payments and issuing receipts (payment acknowledgment) to customers from within the Xero Sending monthly summaries (statements) from Xero Setting up banks and integrating the bank for bank feed (automatic import of bank statement).Ĭreating (our business branded) invoices and emailing to customers from Xeroįollow up customers for payment (from within the Xero)Īutomating the follow-up schedule within Xero Setting up our business branding on Invoices Setting up contacts (customers, suppliers, employees) Setting up the Chart of Accounts (the key income, expense, assets, and liability categories). Thanks to modern Accounting Software Xero (and few others), the complex accounting entries and jargon like debits and credits are all managed by the system. Technology has revolutionized everything, and, Accounting and Bookkeeping are no exception.
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