Hack Accounting with Xero And Whatfix

0 Comments. Whatfix + Apps

A business has many roots that keep it together and steady. A good team, talent, business plan, structure and the most defining one being — it’s financial. The financial aspect of your company is a compass to guide your growth and it is crucial to keep track of it through proper bookkeeping and accounting. In today’s advanced tech age, this is pretty easy to do without actually having to maintain physical books – instead accounting softwares ease the workload, a lot. With intuitive user interfaces, automatic backups to the cloud and multiple user access — it is imperative that businesses today make use of these to structure their accounting processes.

Today we take look at Xero – a software for small and medium businesses with multi device and mobile support. Xero allows the generation of invoices, tracking of bank accounts, addition of payment gateways, tracking/management of your inventory along with a CRM tool. All this for as low as $20 per month. So if your business falls in this category, let Whatfix guide you and make bookkeeping as easy as online shopping!

But first things first – we strongly recommend that you install Whatfix extension for Chrome and Firefox to be able to use these interactive guides on Xero’s website. Now, let’s get cracking with these flows specially made for Xero guidance!

1. How To Import And Export Contacts

Now that you have logged into your Xero account, let’s get your business contacts imported and get you set for the road ahead. There is a template file that can be set for all further use. You can also export your contacts to your local system. Click on See Live to execute it on Xero’s web app.

2. How To Set Up Your Company’s Financial Details

Xero lets you setup credential details such as your tax number, financial year-end, time zone, base currency type and tax period. These will also help in the case you are using an outside source as an accountant to manage your books.

3. How To Add A New Budget

For categorizing your budgets, according to different departments, tasks and activities, Xero provides a Budget Manager. To manage or add a new budget and its details, just follow this flow!

4. How To Add A Bank Account

Xero also lets you pay salaries, invoices, etc. online. You can also keep a check on your account balance and plan further disbursements.

Learn how to manage multiple bank accounts here.

5. How To Add Payment Service To Your Invoice

If your company does business with global clients, adding a universal payment service such as PayPal to your Xero account is a very good option.

6. How To Approve Your First Invoice

Once you have setup your bank account and other financial credentials, you can generate an invoice. Simply choose the date, add in the required details and set up an approval process. These invoices can be sent to clients online directly from within the software.

7. How To Import And Export Inventory

For saving locally on your system, you can download your accounts into a single file. Importing of information is also pretty easy. Just click on Accounts and follow the required steps. This helps in keeping track and managing the inventory of your business.

The complete repository of flows for Xero can be found here. Make sure that you click on See Live to make the most of it!

Voila! No more accounting woes! Be the boss of your company’s finances and get your company sailing in the corporate waters. And remember, Whatfix is always there to guide you, every step of the way.

Radhika Sharma

Radhika Sharma

A massive EDM junkie and a Jedi Padewan, I believe in taking life by the fork and knife everyday. Recently moved to Pune, I have been a media girl for the last 10 years with a huge passion for consumer technology. While working in content management is my day avatar, nothing gets my foodie side going like a good spicy misal pav! For your daily dose of Puneri-ness, log on to thebausgirl.com!
Radhika Sharma


Discover How Whatfix Can Help Your Business


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Discover How Whatfix Can Help Your Business


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Discover How Whatfix Can Help Your Business


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