Alex Hartley


Xero Blog: Five Top Tips for a Fresh Start for your Business with Xero

A man is on the phone at his desk, discussing five top tips for a fresh start in business.
Xero Helps Small Businesses Thrive


Welcome to JacRox, a brand division of Jack Ross Chartered Accountants in Manchester. We are dedicated to offering expert Xero services to a wide variety of clients, from sole traders to large corporations. If you are in need of state-of-the-art cloud accounting software, use the contact form on the right and one of our JacRox team will be in touch to discuss next steps.

As the new financial year approaches, businesses seek ways to improve, streamline and make informed decisions for the year ahead. Xero, a leading cloud-based accounting software, offers several features to help you do that. This article provides five top tips on how to give your business a fresh start with Xero.

Xero Tip 1: Streamline Your Invoicing Process

Why Invoicing is Important

Invoicing is a critical part of any business and directly impacts your cash flow. Ensuring it is efficient and accurate is vital to the success of your business.

How Xero Can Help

Intuitive interface

Xero’s intuitive interface makes it easy to create invoices. You can customise your invoices, add your logo and even send online invoices directly from the platform.

Get paid faster.

With Xero, you have several options to make it much easier for your customers to pay you. Features like Get Paid Faster and adding a Pay Now button to your invoices speed up the payment process.

Automate reminders

Do not wait for late payments. Set up automated reminders in Xero to notify your clients of upcoming or overdue payments.

Best practices

Clear and consistent: Keep your invoices clear and consistent to avoid confusion.

Up to date: Keep your invoice templates up to date to reflect any changes in tax rates or company details.

Xero Tip 2: Use Xero For Your Bookkeeping

The importance of bookkeeping

Bookkeeping is not just about reconciling accounts; it is about providing valuable financial data that you can use to make informed business decisions.

Xero’s accounting features

Real-time data

Xero gives you real-time access to your financial data to keep track of your income, expenses and cash flow at your fingertips.

Reconcile on the go

Bank reconciliation is a breeze with Xero. Connect your bank accounts to Xero, automatically reconciling your bank transactions with your accounting records.

Third-party integrations

Xero can integrate with third-party applications such as QuickBooks and various payroll systems to further streamline your accounting and bookkeeping processes.

Best practices

Set goals: Use the real-time data in Xero to set financial goals for your business.

Regular checks: Make it a habit to reconcile your accounts regularly to ensure all data is accurate.

The Jack Ross Team has been an absolute delight. Professional, nice and fast during the Audit procedure. Thank you Jack Ross Team.

Very good service from the Jack Ross Team. They gave us good advice and completed a very efficient audit. They have a friendly and competent team. I would surely recommend them.

Brilliant service from the Jack Ross team in setting up several companies in very quick time, along with providing associated accountancy advice. Can recommend wholeheartedly as a leading accountancy practice with a can-do attitude.

Dan Gazzard 25/02/2022

First class service for many years from a first class team. Highly recommended. Prompt, commercially aware, personable.

Been using Jack Ross for a number of years. Good clear advice and nice people to do business with.

Jack Ross is based in Manchester and provides tax planning and Xero accounts. They are a long-standing and well-regarded firm with an excellent reputation. They provide their clients with exceptional service and a wealth of advice. I have no hesitation in using their professional services.

aj shelton 22/12/2021

Jack Ross has been my accountants since I set up my business in 2016. From the outset I was helped with advice, support and encouragement. I cannot commend them highly enough. Always on hand to answer any question and responsive to any changes in the economy which might concern their clients. I don’t have to worry about the financial side of my business as all of that is taken care of and dealt with by Umar and the brilliant team. If you are looking for a top class accountancy firm which maintains the personal touch they are for you!

I would recommend this account, knowledgable and helpful

syra bano 16/11/2019

I can confidently recommend Jack Ross Accountants. They are continually improving their service, greatly benefiting our company as well as me personally. The team at Jack Ross have helped suggest and set up innovative accounting software, adding training and support. This alone has been a massive step towards having more control and understanding of our company finances.

J 13/08/2018

We have enjoyed a solid and constructive relationship with JackRoss and Can highly recommend them for accountancy services.

We have been working with Jack Ross for over two years and the service has been fantastic. They have a great and knowledgable team who have taken good care of us and our accounts.

Meeting to review annual accounts and discuss future plans. Very productive as they definitely talk my language - on reflection probably the best such meeting in recent years. Many thanks Umar and Jamie

Jack Ross has serviced my Personal Tax requirements for the last 5 years. During some complicated challenges their advice was excellent and the customer service second to none and left me with no doubt all was in hand.

Following a recommendation, I have used Jack Ross for all my accounting needs (including payroll) since the inception of my business over 12 years ago. The relationship has been completely hassle free and I greatly value their service, which goes well beyond preparation of accounts. Their tax planning advice has been really helpful and I have always felt that they have ‘got my back’. Can’t recommend them enough.

We have finally found the Accountancy firm that we have been looking for! We switched over to Jack Ross towards the end of last year and from the very first contact to the recent submission of our end of year accounts the service provided has been fantastic and has easily exceeded our expectations. Thank you!

oliver kirk 22/03/2018

Excellent service; very helpful people and work done much quicker than I expected.

Paul Clark 29/09/2017

I have used Jack Ross as my accountants for a number of years. Their service is professional and accurate. They deal with queries promptly and I can always get hold of the person I need to speak to. Their digital product has made a big difference to the efficiency of my business. I would not hesitate to recommend them.

Benjamin 22/02/2017

Jack Ross have been my family and business accountants and financial advisors for over 50 years. The delivery of services is second to none and i would recommend them to anyone. We have also built up great friendships over the years, above and beyond that of a normal business relationship which i value greatly.

Rob Cowan 22/02/2017

We have been looked after by jack Ross for a number of years. They have given us fantastic tax advise and helped our company grow from strength to strength. A & f

Fee Munshi 16/02/2017

Excellent advice and an understandable explanation of a very complex area of tax and corporate law which other (so called) advisors managed to totally confuse me. Thank you.

I have had a relationship with Jack Ross for several years and continue to be impressed by the proactive support and diligent advice received across the breadth of the firm. Excellent at signposting.

Holly Jones 14/02/2017

Jack Ross have acted for our law company for over 5 years and have been professional, prompt, and knowledgable in all aspects of our dealing with them.

Xero Tip 3: Plan For Tax and Compliance

The importance of planning

Regarding tax returns and compliance, the deadline is one of many things you must consider. Proper planning will ensure you meet all legal requirements and take advantage of tax benefits.

How Xero simplifies tax planning

VAT and other taxes

Whether it is VAT or other tax forms, Xero has features to simplify tax calculations and filing.

Generate reports

Xero allows you to generate a range of financial reports, which can help with tax planning and assessing your business’s overall health.

Advisor role

Xero allows you to work directly with your accountant or financial advisor. This collaborative capability ensures you get the support and expertise you need for tax planning.

Best Practices

Prepare early: Do not leave tax planning until the last minute. Use Xero’s features to start planning well in advance of deadlines.

Seek expert advice: Use the Advisor role in Xero to consult with experts on complex tax matters.

Xero Tip 4: Improve Cash Flow Management

Why cash flow management is crucial

Cash flow is the lifeblood of every small business. It affects your ability to pay bills, make investments and even cover your running costs. Effective cash flow management is vital for sustainability and growth.

How Xero can help

Cash flow dashboard

Xero provides a comprehensive dashboard that gives you a real-time overview of your cash flow. This enables you to make informed decisions quickly.

Scheduled payments

Plan and schedule your payments within Xero to ensure you pay your suppliers on time and receive payments from customers before they are due, improving your cash flow.

Ageing payables detail report

With features like the aged payables detail report, Xero allows you to keep track of outstanding payments, so you know who to chase and when.

Best practices

Regular monitoring: Constantly check your cash flow dashboard to stay on top of your financial status.

Prioritise payments: Use the information in Xero to prioritise payments to and from parties with the greatest impact on your cash flow.

Xero Tip 5: Use Advanced Reporting Features

The need for advanced reporting

In today’s data-driven world, advanced reporting is not just a need but a requirement. The more you understand your business data, the better decisions you can make.

Xero’s reporting features

Customised reports

Xero allows you to customise reports based on your needs, giving you the most relevant insights into your business.

Real-time reporting

With real-time reporting features, Xero ensures you have the most up-to-date data, enabling you to make quick and effective decisions.

Export features

Need to share these reports with stakeholders or advisors? Xero allows you to export these customised reports in various formats, including PDF and Excel.

Best practices

Update regularly: Ensure you regularly update your custom reports’ parameters and data points for the most accurate insights.

Collaborate: Use the export features to share these reports with your team, consultants or stakeholders for a more collaborative decision-making approach.

The Bottom Line

Xero offers a wealth of features to help you streamline your invoicing, optimise your bookkeeping and plan for tax and compliance. As you prepare for the year, these top tips can give your business a fresh start to thrive.

So why not make the most of what Xero offers and put your business on the road to success? Make your fresh start today!

Ready to improve your financial management with Xero? Fill out the contact form below and a JacRox team member will be in touch to guide you through our cloud accounting services.

Alex Hartley
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Take advantage of harnessing the full potential of Xero for your business. Whether you're a start-up, a thriving SME, or a larger enterprise, our Xero-certified accountants are ready to guide you through every step. Please fill out the form below, and let's begin your financial transformation.

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Yes, there is additional advice you should consider if you are switching from another accounting platform such as Quickbooks. You will want to factor in the cost of transferring data from your old system to your new one and allow yourself plenty of time to learn how to use Xero, as this may require some training or reading through the existing documentation provided.

The best thing to do is to contact the support team, who will walk you through everything step by step so that you understand exactly how things work within the system, whether sending invoices or dealing with payments.

Xero offers a wide range of third-party integrations, including apps for inventory management, customer relationship management (CRM) and e-commerce platforms. First, identify your business’s specific needs and pain points to make the most of these integrations. Then, explore the Xero marketplace to find apps to address these needs.

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Speak to a Xero Expert Today!

Take advantage of harnessing the full potential of Xero for your business. Whether you're a start-up, a thriving SME, or a larger enterprise, our Xero-certified accountants are ready to guide you through every step. Please fill out the form below, and let's begin your financial transformation.

Request a Call Back Now to get access to Xero experts 

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