Apr 3 / Victoria Grimshaw

Are You Wasting Money on Xero?

Most people who get Xero do so primarily for its invoicing feature and the convenience of doing GST returns. However, there is so much more that the software can do to help do your business’ finance admin and to analyse how your business is performing and plan for the future. 

For example, did you know  you can enter a Budget into Xero and then run a Profit and Loss Report that compares your Budget to your Actuals so you can see how under or over you are?

An Admin example is the Files feature; where you can store documents such as your rent agreements or insurance renewals for your accountant’s reference. The IRD requires you to keep financial records for at least 7 years and you can use Xero’s files feature to help with that, along with attaching those invoices/receipts to your transactions for your accountant and possible audit reference. 

Why spend over $70 a month on something you only use a fraction of its capacity? There are opportunities to save yourself a lot of money and time by using the many features Xero has. You just need to take a small amount of time now to learn them and the rewards will pay off. 

If you’d like to know what more Xero can do for your business, get in touch.