Xero Bank feeds support better Cashflow

Xero bank feeds happen daily & make it easy to get an accurate view of how your business is performing.  In the near future, Xero will offer access to daily direct bank feeds for some 100 financial institutions in Australia and that means they’ll be connected with 98% of the banks that Aussie small businesses prefer to bank with.  The graphic below shows exactly how bank feeds work however in short your bank feeds daily transactions direct into Xero giving you real time information and allowing for a much quicker bank reconciliation process.  Link as many bank accounts and credit cards to Xero as you like – and take advantage of an unlimited number of feeds allowed in the price of your monthly subscription.

 PayPal and Stripe Payment Services

For those that use PayPal and Stripe as payment services in Xero you can choose to manage transaction fees automatically.  When your customer pays an invoice, Xero marks the invoice as paid and automatically creates a Spend Money transaction for the fee.  How cool and time saving is that?

PayPal Express Checkout

Xero have made is easier for your customers to pay with PayPal.   When you send an online invoice, the customer can click Pay with PayPal and the PayPal Express Checkout window will pop up in the invoice. 

Activity Statement Improvements

If you use payroll in Xero and you’ve set up pay items to report at W1 on your activity statement, Xero can automatically populate the W1 and W2 amounts for you.

Improvements to Fixed Assets

You can now go directly from Fixed Assets in the Accounts menu to Fixed Assets in Settings, and vice versa. When you dispose of an asset, you can now view a summary of the disposal details to confirm they’re correct, before reviewing the disposal journal. 


You may or may not be aware of some of the funky things you can do with your Xero accounting software.  Following are few short videos to showcase & demonstrate how to use some of the features of this beautiful accounting software.

 Xero TaxTouch

Xero Tax Touch is  the easiest way to manage expenses, keep track of estimated taxes, connect securely to you bank  and automatically import transactions every day– all through your phone.  In one swipe you can untangle and organise each business expense.  Tax Touch categorises most of the expenses for you. If it’s correct, just swipe. Otherwise tap on the right category yourself.  Easy as!  In addition see an estimate of the quarterly GST owed and get a reminder when payment is due. You always know how your business is doing at any time.  To see the short video Xero TaxTouch.

Xero on Apple Watch

Start your day knowing the state of your business.   Xero for Apple Watch is the fastest and most convenient way to stay on top of your cashflow.  Effortless banking notifications: Know when transactions have arrived and see your updated balance at a glance.  See all accounts across multiple banks with money received from a paid invoice shown first, so you have the information to make better decisions.  You can also get notifications when invoices and bills have been paid.  To see the short video Xero on Apple watch.

Billable expenses in Xero

Sometimes to get the job done you’ll incur expenses you need to bill back to the customer. In Xero you can easily track billable expenses and include them on your next sales invoice.  While you’re entering the bill, simply mark any items as billable that you intend to recover from the customer later. Then when you go to invoice the customer, you’ll see there are billable expenses waiting to be included.   If you’re using multi-currency, choose the currency you’re invoicing in and Xero will make the conversion based on exchange rates from XE.com.   Keep track of billable expenses and stay on top of invoicing customers with Xero!  To see the short video Billable expenses in Xero.

Invoice Reminders in Xero

Instead of you spending hours chasing overdue payments, Xero can automatically email reminders to your customers. Just set and forget.  Use the preset timeframes or adjust them to suit your business. Tailor the email message and the days overdue as needed.  When your customer receives the reminder, they can view and pay the invoice online right away.  Control when and how invoice reminders are sent out. Automate the sometimes awkward task of chasing payments and improve cashflow with Invoice Reminders in Xero.  To see the short video Invoice Reminders in Xero.

Online Quotes in Xero

With Xero you can send your customer an online quote, which they accept with the click of a button.  Then when the works done you can send them an invoice, which they can easily pay online. To see the short video Online Quotes in Xero.




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