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Bookkeeping is an essential business process that goes under the radar. For the most part, owners and bosses with zero Xero training think they can magically make numbers coalesce. While it seems simple, getting the company’s books in order is far from easy. If you don’t do it right, there’s a chance you will do [...]

It’s an up and comer in the accounting industry, so if you haven’t heard about it already, you will hear the name “Xero” soon. Xero is a new accounting software - the new alternative to QuickBooks - and it’s being used by more and more small businesses these days. It’s becoming more popular as the [...]

Every small business runs into challenges in their business, and the accounting department is no different. Staying on top of the finances as a business owner takes work, which is hard enough when you’re already wearing several different hats in your daily routine. You’re in charge of marketing and networking, and you also have to [...]

If you run a business, you will undoubtedly have heard of Xero bookkeeping. Xero is a cloud-based accounting platform that your team can use to update your accounts, whenever and wherever they like. The company behind the software is one of the most talented and innovative in the world, and it implements some pretty sophisticated [...]

If you’re not using Xero in your business yet, you should be. The cloud-based accounting platform can help you in all kinds of ways, from making it easy to store your accounting data to reduce errors. The problem, however, is that many firms don’t have enough people trained to use Xero and so they miss [...]

Whether you want to ensure that your books are always accurate, always ready to help you deliver financial insights about the business, or you want to make sure that you’re well prepared for the arrival of the taxman, up-to-date bookkeeping is essential. You don’t want to go through the hellish crunch leading up to tax [...]

Balancing the books is a crucial part of running a successful business. If you’re a business owner, keeping a close eye on your accounts and monitoring payments that come in and go out is vital. If your books aren’t up to date, or your finances are in disarray, the risk of financial failure increases dramatically. [...]

We mention bill automation frequently (because it makes running a business so much easier, of course). The ones we like the most for this purpose are Receipt Bank and Shoeboxed. There are currently 17 add-ons in the Xero marketplace that can automate your bills: Receipt Bank Entryless Expensify Datamolino Shoeboxed Hubdoc Xpenditure Invoice Smash PocketSmith [...]

What kind of financial maintenance do you need for your business? There’s a common misconception that data entry, bookkeeping and accounting are similar disciplines but each position performs different duties (with some overlap). The chart below identifies the different duties of these three roles. Set-up  Enter Transactions  Checks, reconciliations and end of year processes Payroll  [...]

Bookkeeping and accounting are both crucial business functions, but they are not the same. There are key differences between bookkeepers and accountants. This guide will explore the main differences and provide you with all the information you need about bookkeeping vs accounting. What is bookkeeping? Bookkeeping is predominantly concerned with recording financial transactions and ensuring [...]