How Xero's automatic bank reconciliations save you time

Bank reconciliation is a vital financial task – but one that eats into your business time. Matching your financial transactions to the relevant lines on your bank statement can be a tedious and time-consuming task. So wouldn't it be great if you could automate that whole bank reconciliation (bank rec) process? If you're using Xero, you can! Automatically match each transaction The Xero Direct Bank Feed gives you a full view of your whole bank statement, and every transaction in and out of the account. Xero then searches your outstanding invoices and bills and instantly matches them to the bank statement line (so all you do is review and click ‘OK’) With Xero doing your matching, you get: Aut

Preparing for artificial intelligence, or the fourth wave of industrialisation

This article was originally published on Xero Blog on 5th September 2018 It’s Day 1 of Xerocon, and the Brisbane Convention and Exhibition Centre is buzzing with excited accountants and bookkeepers as they explore what’s on offer. Anthropology professor and futurist Genevieve Bell, known for her work at the intersection of culture and technology development, took the stage today and shared with us her vision of how artificial intelligence, or AI, will shape our lives. “AI is nothing more and nothing less than the steam engine of the 21st century,” said Professor Bell. “Steam engines were originally used to power mining operations. But over the next 100 years, they changed the ways we live in

Setting up the right legal and financial foundations

You've got the idea and the business plan ready to roll. But what are the main legal and financial areas you need in place to keep your new business compliant? Whether it's registering as a limited company, or setting up an accounting system that meets the latest digital requirements, it’s important to get the basics right. How to tick the right compliance boxes As a director, it’s your job to make sure your new business meets its regulatory requirements and stays compliant with the latest business and tax laws. To help you get the basics sorted, here are 5 core areas to consider: Become a limited company – becoming incorporated shows you’re serious and limits your liability, separating your

How Xero helps this brewery keep a transparent culture

This article was originally posted on Xero Blog When Ale Industries started out, it was rare to find a brewery that had a taproom slinging a triple-hopped IPA. Today, these are some of the staples of an ever-evolving industry. We talked to Morgan Cox, co-founder and Brewmaster of the Oakland, California brewery about all things hops and grain. Early on, Morgan foresaw a career for himself in brewing. After getting into homebrewing at the age of 18, he knew that he wanted to own a brewery of his own one day. He knew he would need some commercial experience, and at 21 he was finally able to start looking for work. To put things in perspective, when Morgan was looking for work there were about

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