HELPFUL INFORMATION FOR YOUR BUSINESS DURING COVID-19

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At Numberwise, all of our bookkeeping clients are using Xero accounting software. We’re a proud Xero Gold Partner, and often get questions about Xero’s features and capabilities. Since our team uses Xero everyday, we could probably write a book on the ins and outs of it! But, we’re too busy crunching numbers and empowering business owners to make better decisions. 

So, today we’ll keep it short with three cool features of Xero. We’ve surveyed the entire Numberwise team (whew, it took months!) and the results are in. It was hard to narrow it down, but here we go. Three of the coolest features of Xero in 2023: 

1 – Customizable reports

2 – Simpler accounts receivable

3 – The integrations

Xero makes customizable reports easy

The Numberwise team knows a financial report customized to suit a business owner’s needs can be a game changer. Our team unanimously ranked the customizable reports in Xero as one of our favorite features. The interface for customizing reports is simple to understand, making it very easy to create them.

The ability to create a reusable custom report layout in Xero also makes pulling the same type of report in the future quicker and easier. This capability goes along with one of our team’s core values – working smarter. 

Xero simplifies accounts receivable

In order to stay in business, you have to get paid! Thankfully, Xero accounting software makes getting paid easier. Xero has secure online invoices and the ability to accept payments online via credit card, debit card or direct debit straight from your Xero invoice.

With Xero, you can set up automatic invoice reminders and skip the hassle of following up with clients about unpaid invoices. This not only saves you time, but a potentially awkward conversation with a client. Speaking of which, if discussing money sometimes makes you uncomfortable, learn some tips in our awkward money topics blog

Xero saves time with integrations 

Number three on our list of the coolest features in Xero accounting software has to be the integrations, a.k.a syncs! From a bookkeeping perspective, we love how Xero is an open-ended platform that allows many different programs to connect to it. Xero can automatically pull in everything from bank and credit card feeds with all of your business transactions, to Gusto and other payroll systems, to Bill.com with all of your expenses.

The integrations can save a tremendous amount of time and effort compared to manually inputting transactions. You can also set up rules for how certain transactions are coded or classified. While technically this is another feature in itself, it makes the integrations or syncs in Xero even more efficient, and the task of reconciliation a breeze. 

DYK about Xero?

Did you know these facts about Xero? Just in case it comes up at your next trivia night…

Xero + soccer (or um, football)

Xero is an official sponsor of FIFA Women’s World Cup 2023, 2024, and 2026. Xero has partnered with FIFA to support the growth of the game, including two women’s development programs. Xero also provides a 25% discount on its accounting software for soccer clubs and additional resources to help clubs run smoothly.

Xero + British English

You may notice a variation in the spelling of certain words in the Xero platform and Xero Central. Since Xero is headquartered in Wellington, New Zealand, you’ll find British English used at times. For example, “organization” is spelled “organisation” and “color” becomes “colour.”

Bottom line

There’s no denying it: we’re fond of Xero accounting software. It’s a system that business owners can use to manage their own bookkeeping, but with robust capabilities that accounting firms like Numberwise appreciate. We hope you enjoyed our list of three cool Xero features in 2023. If you’d like to give Xero accounting software a try, we highly recommend it. 

More from Numberwise:

2023 tax law changes for business owners 

What types of bookkeeping are available?

What can your accountant do for you?

About the Author

Rachel Law

Rachel Law

Rachel Law, Marketing Manager at Numberwise, has over 15 years of experience in marketing and communications. She coordinates content for all of our marketing channels, and loves a good meme. Rachel is a health and fitness enthusiast who enjoys yoga and running. She has 2 kids and a growing number of indoor plants.
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