Identifying Financial Trends in Your Business Using Xero Reports

By |2022-05-18T03:26:12+00:00May 10th, 2022|Accounting, Business, Xero|

. Your business records produce patterns in financial data known as  financial trends. Identifying financial trends in your business using Xero reports can tell you the direction in which your business is going. This is important so you know if you’re on track or if you need to rethink your current strategy.  A business is nothing without its financial reports. They are a representation of the business's health and will help you make important decisions. To properly analyze your business's financial reports, you must know what you are looking for. There are five key metrics to examine on a regular basis. [...]

Streamline the Grant Application Process with Xero’s Tracking Categories

By |2022-05-16T14:21:07+00:00April 10th, 2022|Business, Not for profit, Xero|

You have a great idea, and you're ready to take your business to the next level. You've spent hours of your time researching, planning, and building, but you’re in need of funds. Where can you get a grant?  Luckily, there is a solution. In this post we will share a few tips on how to find grants that are right for your organization. We'll also share how to track the money’s use once you receive a grant. 1. Grants for Your Business Grants are one way to obtain funding for your business. They are awarded to qualified organizations and individuals that [...]

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Virtual Heights Accounting Earns Xero Gold Partner Status

By |2022-03-12T05:10:14+00:00March 12th, 2022|Accounting, Xero|

Virtual Heights Accounting is excited to share that we are officially Gold Partner status with Xero. From day one, Xero has been our go-to accounting app, so we are excited to achieve this milestone and pass along some great benefits to our clients in the process. Xero is the go-to app for real-time accounting. When your books and Records are accurate and up-to-date (in real time), you can make informed and effective decisions now, not six months from now. This offers you the benefits of reaching your business goals faster and the ability to pivot if necessary. What is a Gold [...]

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A Back to School Business Checkup

By |2021-10-24T09:52:59+00:00September 15th, 2021|Accounting, Business, Xero|

Whether you’ve been in business for a while or you’re just starting out, a business checkup is a great way to stop and see where you’re at in relation to your business goals. September will always feel like back to school here at Virtual Heights Accounting. But that’s a good thing. It means it’s time to pause, take stock, and recalibrate if necessary.  A business check up can look like a number of different things. You will likely have a sense of where you have gone off track. Maybe you need to finally file that paperwork you’ve had sitting on your [...]

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Organize Your Business Paperwork with Hubdoc

By |2021-10-24T09:52:59+00:00July 18th, 2021|Business, Technology, Xero|

How often have you said something along the lines of, “If only I was more organized,” when talking about your business paperwork? Most likely this comes as a result of looking for a document for your accountant or trying to find a bill you need to pay before the deadline. When your business paperwork is organized, you don’t have to waste your precious time hunting for documents. Not only that, but if you use Xero and Hubdoc together, your accountant can access your documents without having to bother you. Why Hubdoc for business paperwork? Hubdoc is an app that can help [...]

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What is Cloud Accounting?

By |2021-10-24T09:52:59+00:00July 5th, 2021|Accounting, Technology, Xero|

If you have a business and you've been looking for an efficient way to manage your books and records, you've probably heard about cloud accounting. QuickBooks Online and Xero are two of the most popular online accounting programs. If you haven't heard the term cloud accounting then it’s likely you’ve heard of either one of these programs. Something that's often not discussed in relation to cloud accounting is what it means to have your accounting in the cloud. And what are the benefits of doing this? Before we get into the benefits, let's talk about what it means. The Cloud is [...]

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How to Get Started with Xero

By |2021-10-24T09:53:00+00:00April 7th, 2021|Accounting, Business, Xero|

Have you been looking into accounting apps, but you don’t know where to start? We love and recommend Xero, because of its ease of use and high functionality. With Xero, you can do everything from sending invoices to monitoring your company’s key performance indicators.    We’re also a Xero Certified Partner, so if you want to save even more time, skip to the bottom for a major shortcut to getting started with Xero! Choose a Plan Xero currently has three levels of plans available to the general public. The plan you choose will depend on your needs. For example, the Starter Plan [...]

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Xero Shortcuts You Need to Try

By |2021-10-24T09:53:15+00:00September 26th, 2020|Accounting, Xero|

If you’ve read any of our other posts about Xero, you're probably aware of the time you can save a by linking your bank account to the app. But there are a number of Xero shortcuts that offer even more time savings.  Try some of these common Xero shortcuts to reduce your bookkeeping time so you can get back to the part of your business you enjoy the most. Xero Shortcuts for Bookkeeping  Bank Rules Bank rules allow you to set parameters on money spent, money received, and transfers. Once a bank rule is set up, Xero will recognize the rule, [...]

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How to Ask Your Accountant a Question in Xero

By |2021-10-24T09:53:15+00:00September 22nd, 2020|Accounting, Xero|

Have you ever wondered how to ask your accountant a question in Xero? If you’re new to Xero, you might have questions as you get started using this amazing cloud accounting app. Even if you’re not new to Xero, you may come across something in your bookkeeping you haven’t seen before or aren’t sure how to properly record. Thankfully, Xero makes it really easy to ask your accountant a question without leaving the app, saving you precious time. But before you can start asking your accountant questions in Xero, you’ll need to make sure your accountant has access to your Xero [...]

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Common KPIs and How to Monitor Them in Xero

By |2021-10-24T09:53:15+00:00September 10th, 2020|Accounting, Business, Xero|

Common KPIs (key performance indicators) are whatever numbers you determine are critical to your business’s success. They can vary depending on your industry and how you run your business. An online marketing company isn’t going to have the same KPIs as an automobile manufacturer.  Choosing the right KPIs can be tricky. Start by looking at your financials. Are there any numbers that jump out at you as being way too high or low? If so, you’ll want to keep an eye on those.  Do you notice any trends when comparing the same numbers over different time periods? This is something else [...]

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