Soldo

Soldo

by | 3 Apr, 2020 | Business, Xero

Soldo

Many businesses expect their staff to spend their own money purchasing items on behalf of the business and then reclaim the money via an expense claim form later. This means the staff member is out of pocket for a time and the business does not know its true costs or liabilities until the expense claim has been processed. The business spends time and manpower processing these expense claims which also costs it money, but this is where Soldo can provide an answer.

Soldo allows the business to provide a prepaid plastic or virtual Soldo Mastercard® to any of its staff or departments that spend company money. Each card can have bespoke restrictions set on them thus removing the element of unauthorised purchases, with email warnings being sent if anything untoward is attempted to be purchased. The users can only spend the funds that have been transferred from the business to the Soldo card, it is a debit card not a credit card.

Each time a purchase is made using a Soldo card a prompt is made to the card holder to provide evidence of the receipt. No more will your staff have to complete expenses claims, spend their own money, you won’t have to chase for missing receipts and the business gains real-time visibility over what is being spent on its behalf.

Because Soldo connects to Xero all the purchases made using the Soldo Mastercard® will automatically be published into Xero using a custom bank account that can be reconciled like a normal bank account.

If what you have just read is of interest to you then please feel free to contact Lewis Brownlee where we can provide further information about Soldo, Xero and other applications that may be of use to you.

Do you really need to print that sales invoice?

Do you really need to print that sales invoice?

by | 8 Jun, 2017 | Accounting, Xero

Do you really need to print that sales invoice?

There have been reports showing that the ink in an inkjet printer is dearer per centilitre than a bottle of Dom Perignon vintage champagne. So you might ask yourself, “Do I need to print documents for my business?” and think “I don’t need bottles of vintage champagne”. However using Xero and the internet, you could reduce your paper output and save significant amounts of money for your business, allowing you to possibly buy those bottles of vintage champagne.

Current practice

So you have approved your customers’ sales invoice in Xero, pressed print and the printer is happily churning out the document. You have to then fold it, place it in an envelope, add postage and hand it over to The Royal Mail for delivery. Your customer may receive it tomorrow, or the next day or maybe never (the old excuse of “I never received your invoice” – a delaying tactic used to postpone payment). All of this uses resources, time and effort that possibly could be better utilised.

Forward thinking

Rather than pressing print, why not email the document to your client.When you have approved your invoice in Xero you will be presented on the screen with the completed invoice showing as awaiting payment. Just above your invoice details on the right hand side of the document there are five options for you to choose from, these can be seen below.

Using the first of these you can preview the document in Xero thus allowing you to see what the invoice will look like on a computer screen or a mobile phone screen. The second option is the one that we are most interested in, this is the email option. Press this and up will pop a window in Xero allowing you to enter the email address, if not already set up in Xero, where you want the invoice to be sent.

You can also email yourself a copy of the document if you desire. Gone are the days of having to wait for the postman to deliver your invoices, Xero and email will do it instantly! Of course if you want to print the document and send it via snail-mail then the third option is for you. We will be discussing the other two options in a later blog, for now it’s enough to think just maybe you could save on ink, paper and time by emailing that invoice rather than printing it.

So there we have one way of possibly saving your business time and money, thus allowing you possibly to buy a bottle of vintage chamagne.

If you have any questions regarding the above or would like to discuss this or any other matter regarding Xero please contact us at Lewis Brownlee.

Cash Coding on Xero

Cash Coding on Xero

by | 19 Oct, 2016 | Xero

Cash Coding on Xero

Do you have lots of transactions that all relate to the same thing?

Use cash coding to reconcile multiple transactions rather than creating a payment for each one individually!

If you sort by payee, reference or description you can then highlight each similar transaction by ticking each box down the left hand side, you will then be able to select the account from the drop down (in any of the highlighted transactions). If you then ‘Tab’ on the keyboard you will go to the next box to the right and the account code will automatically be inputted for each transaction.

You can do this with any of the columns, putting the same information into a number of transactions but only having to type it once!

Give it a try to save time on those bank lines that need paying manually!

 

Xero Help – Input VAT on Import

Xero Help – Input VAT on Import

by | 17 Aug, 2016 | Xero

Xero Help – Input VAT on Import

A question we are asked a lot is how to account for input vat on an import in Xero (for use on the accruals and cash accounting VAT schemes)…

If you need any more help or information on how to use Xero please feel free to contact the office for help or take a look at the Xero website: www.xero.com 

The latest from Xero!

The latest from Xero!

by | 27 Jul, 2016 | Xero

The latest from Xero!

BARCLAYS BANK FEEDS ARE HERE AT LAST!!

Other news:

Uncoded statement lines

If you have the Adviser user role, you can export a list of unreconciled statement lines to a PDF or CSV file for clients to work with offline.

  • Go to Accounts, then click Bank Accounts.
  • Click Uncoded Statement Lines.
  • Select a bank account, date range, and sort order.
  • Click Update.
  • Click PDF or CSV to download the file.
  • Clients can add information directly in the file in the Your Comments column.

Copy from last invoice

If you have a repeat invoice for the same customer you can now copy item from the last invoice. Once an invoice has been approved this functionality is then available.

Start a new invoice

  • Enter the contact
  • Click on the add items tab

Microsoft Power BI

Microsoft Power BI is a business analytics tool to analyse data and share insights.

If you want to dive deep into your data, this is the way to do it. Microsoft Power BI complements Xero financial data with Microsoft Power BI to deliver powerful analytics and compelling data visualizations. And you don’t need any IT support to make it work. With the click of a button your financial data in Xero can be paired with data from other sources – such as CRM, marketing and support systems – to surface new insights. These can be saved as graphs and images to give you a visual snapshot of how your business is tracking.

A reminder that Xero will be moving their customers’ data to a new platform.

Xero will be down while your data is being transferred. The transfers will take place between 7 and 9 pm on Saturdays starting in June.

You will be warned in advance of your move day and will also get a 15 minute warning just before hand.

Once you have had the warning please do not go back into Xero for a couple of hours.

See the link below for up to date information about the move:

https://www.xero.com/blog/offline-status-page/?mkt_tok=eyJpIjoiWVdOa1pXWmlabU15TW1KaCIsInQiOiJSanZIdUNoREhBMmR2cHVcL3F4aGxyN09yemVrcnY2MFh2cDVteUVVU0dBTVg4WFRuaXhaaFhcL1JHeU12eEMxZHZKOWRkUGw4SFJJOWswcHlrYTc4TE5aRUhDTEJ4dStLZHNMaHh6R0pqTVwvbz0ifQ%3D%3D

For more information have a look at Xero’s website.

Any questions on these or Xero in general please contact us.

Xero Support – Paying a supplier invoice in 2 (or more) payments

Xero Support – Paying a supplier invoice in 2 (or more) payments

by | 1 Jul, 2016 | Xero

Xero Support – Paying a supplier invoice in 2 (or more) payments

If a purchase invoice in Xero is cleared by multiple payments, Xero will not automatically be able to match the bank transactions to the correct item. Below are the steps on how to deal with this:

This example is taken from the demo company and assumes we have a £24 invoice outstanding to Central City Parking dated 01 June 2016.

1. Find the first of the relevant payments on the bank reconciliation screen. Then click the match tab followed by find and match

 2. Select the relevant invoice by ticking the check box. If you are struggling to find it the search boxes can be used to search for the supplier name, invoice number or amount.
If you have done this correctly you will see “Split” appear on the line. Now click this.

3. If the whole of the payment is to be set against the invoice selected you can simply click split at this point, followed by ‘Reconcile’

4. If just two payments cover the total by refreshing the page Xero may create a match as shown below.

However, if there are more payments involved steps 1-3 may need to be repeated, to reach this point.

If you are still having difficulty do not hesitate to contact a member of our Xero team who will always be happy to assist you.