4 Benefits of Bill Management with Xero

If you're looking for a simple, effective way to track your bills and expenses, then Xero accounting software is a great option. With Xero, you can easily keep track of all your bills in one place, so you never have to worry about forgetting to pay one. Plus, you can set up recurring payments for regular bills, so you can make sure they're always paid on time, and if you ever need to pay multiple bills at once, Xero makes it easy to do that too.

But that's not all – Xero also makes it easy to track your expenses on the go with its mobile app. So whether you're at home or out and about, you can always stay on top of your finances. Because Xero integrates all your bank accounts into one consolidated place, you can be sure that all your financial information is always up-to-date.

So if you're looking for a simple, effective way to manage your finances, then Xero is definitely worth considering.

Here are 4 ways Xero can help.

Xero can store all your bills

Did you know that you can store all of your digital and paper bills in one spot for ease of viewing and planning? Well, you can with Xero. Xero allows you to easily copy and paste electronic bills into its system. You can set payment dates and amounts, as well as set up direct payments straight from your linked bank account. You can even manually add bills or payments required so that nothing gets missed.

Xero can pay your bills

If the idea of never having to worry about forgetting to pay a bill again sounds good to you, then Xero's scheduled payment feature is definitely worth considering. With scheduled payments, you can set and forget – Xero will automatically pay your bills on time, every time. All you need to do is make sure there's enough money in the account at the time of the scheduled payment.

Because Xero is linked to all of your financial accounts you will be able to see well ahead of time if there are any liquidity issues and be able to avoid any late fees or embarrassing communications advising of a failed transaction attempt.

Xero keeps track of your payments

Xero keeps a full and complete payment history of everything that goes through the system. This is not only incredibly useful for tax purposes but also for your own personal records and understanding of cash flow. Being able to see what bills have been paid, when they were paid and how much was spent on each bill gives you a great overview of where the business' finances stand.

Xero also provides easy-to-read graphs which show you what payments you have paid and which bills you have upcoming across a range of dates and times.

Xero adds bills from your mobile device

If you're out and about and need to add a bill quickly, Xero's mobile app makes it easy to do just that. You can scan paper bills or receipts using the app, or even take a photo of them. Then you can save the files to your mobile device and add them to Xero later. This is a great way to keep track of your expenses when you're on the go, and it means you'll never have to worry about losing a receipt again.

So if you're looking for an easy, effective way to manage your finances, then be sure to check out Xero accounting software and be sure to speak to Lucent Advisory about how we can help.

Lucent Advisory has been a Xero Partner since 2011 and is proud to have achieved Gold Champion Partner status. Our specialisation in single-touch payroll systems, migration services, and overall advisory services makes us the perfect Xero partner for businesses. Lucent Advisory is here to help with the establishment and ongoing support of your Xero account. We understand the switch to a new accounting program can be a daunting one, but our team is with you every step of the way. Imagine how much easier your financial operations could be using just one software program! Contact us today to arrange a demonstration and to hear how this amazing software can be supported by us at Lucent Advisory.