Getting the Most Out of Xero In A Day For Dummies

Heather Smith is an accounting consultant who specialises in management report development, data detox, and cloud suitability scoping services. Heather remotely assists global businesses advising on process automation and maximising integrated data opportunities. A business and tech writer, Heather hosts the popular Cloud Stories podcast. She is an advisory board member for many dynamic businesses.

Introduction 1

What You Can Do In A Day 1

Foolish Assumptions 2

Icons Used in This Book 2

Chapter 1: Analysing Your Business 5

Generating Useful Information 5

Taking Advantage of Management Reports 6

Performance management reports 6

Position management reports 7

Delving deeper into the Executive Summary report 7

Understanding Xero’s Tracking Options 8

Using Tracking 9

Working out what your business should track 10

Setting up Tracking 10

Editing, deleting and applying Tracking Options 11

Reviewing Tracking reports 12

Tracking conversion balances 14

Chapter 2: Exploring the Xero Online Network and Add-On Solutions  19

Working with Xero to Xero Networks  20

Understanding Add-On Solutions 20

Looking at longevity and scalability of product 20

Checking response times 21

Getting a Feel for Available Solutions 21

Connectors 22

CRMs 23

e-commerce 23

Bills and expenses 24

Inventory 24

Job tracking 25

Payment 26

Payroll 26

Point of sale 26

Time tracking 27

Reporting 27

Chapter 3: Discovering Xero’s Tips and Tricks  29

Invoicing Contact Groups 29

Connecting with Contacts via Social Media 30

Making Mobile Expense Claims 31

Creating and Sending Invoices via Your Mobile Device 32

Designing Clear Invoices for a Positive Cash Flow 33

Setting up the basics 33

Setting up payment services 34

Customising the branding theme 35

Fancy schmancy invoice branding 39

Using the Batch Payments Feature 41

Creating a Budget 42

Using Xero to Set Realistic Targets and Strategies 44

Setting KPIs and Rewarding Success 44

Chapter 4: Improving Your Cash Flow with Xero  47

Reconciling Regularly 47

Using the Money Coming In Dashboard 48

Customising Invoices 48

Engaging with Technology 49

Reviewing Your Aged Receivables Report 49

Checking Out Your Cash Position Report 51

Keeping On Top of Your Outstanding Debts 51

Making Use of Statements 52

Chapter 5: Achieving Long-Term Success with Xero  55

Embracing the Cloud 55

Making Use of Networking Technology 56

Exporting Data to Create Graphs 56

Setting up Bank Rules 57

Maintaining Budget Control: Budget Manager 57

Keeping Bank Accounts for Business Use 58

Embracing Change 59

Using Tracking to Sharpen Reporting 59

Taking Advantage of Repeating Bills and Invoices 60

Collaborating with Your Advisory Team 60

Understanding Different Terminology 60

Chapter 6: Where to Go from Here  63

Finding Out How to Use Xero 63

Say ‘Hello’ to the Xero Community 64

Visit dummiescom 64