Correcting Bookkeeping Errors in Xero

By | May 1st, 2020|Accounting, Xero|

Even Xero, one of our favourite accounting apps, makes mistakes sometimes. Because of this, it’s important to check your books, even if you’re using automatic bank feed downloads. There are many parts of the Xero bookkeeping process that are manual, so human error is still a possibility.  Because Xero uses live bank feeds, you can’t simply make a journal entry to the bank account to fix errors. Here are three ways to correct bookkeeping errors in Xero. The method you use will depend on what the error is.   Delete Sometimes Xero shows duplicate transactions coming from bank or credit card feeds. [...]

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I’ve Linked My Bank Feed to Xero: Why Isn’t It Reconciled?

By | April 16th, 2020|Accounting, Xero|

One of the amazing time-saving features in Xero is the ability to connect your bank feed. This allows you to see the transactions from your bank account in Xero live in real time.  But what happens when you’ve connected your bank feed to Xero, and Xero is telling you that your bank account isn’t reconciled?  While accounting apps are designed to save you time, they aren’t designed to be completely automatic. They still require a human touch. There are three essential things you need to do when it comes to working with bank feeds in Xero. 1. Reconcile Your Bank Feed [...]

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Using Xero’s Cash Coding Feature to Save Time on Your Bookkeeping

By | January 18th, 2020|Accounting, Xero|

Innovations in cloud accounting have made bookkeeping a breeze. At Virtual Heights Accounting, our favourite accounting app is Xero. You can do everything from invoicing to producing professional financial reports. It’s also easy to keep your records current.   Not only can you link your business bank account to Xero, but you can also do a number of additional things in Xero that further speed up the bookkeeping process. One of those tweaks is using cash coding.  What is Xero’s cash coding? The cash coding feature in Xero allows you to process bookkeeping transactions in bulk. The screen is more compressed than [...]

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The new CIBC Smart Banking Platform and the new Xero bank feed connection (as well as other benefits)

By | October 28th, 2019|Uncategorized, Xero|

We in the Xero community have been waiting years for a direct bank feed. Many other countries around the world already had this and we were jealous. For the average business owner and user of Xero, there are a few key things they may like to be aware of. These include: multi-user options; domestic EFTs; and Xero direct bank feed. There are many other services offered in the platform but we have focused on these as the most beneficial. Multi-User Well the new platform offers some benefits (other than the bank feed), including multi-users which allows for permissions and better process. The [...]

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How to Check Your Published Reports in Xero

By | April 12th, 2017|Xero|

As part of our bookkeeping packages, Virtual Heights Accounting will "publish" your monthly, quarterly or yearly reports in Xero for your viewing. This 2 min video shows clients how to access these reports from login to the Dashboard to viewing and downloading the reports (if desired). If you do not know your Xero login, you can contact info@vhaccounting.ca or your Virtual Heights Accounting contact. We will ensure you are set up. If you have forgotten your password, you can also click "Forgot Your Password?" at login to initiate the reset process. https://youtu.be/oziyjpZhUK8   Virtual Heights Accounting is a CPA and business coaching [...]

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