Do a health check on your Xero file with these 5 steps

Straight Up Small Business

I’m so pleased to be back with you after taking a bit of a break from the podcast for a much-needed reset and refresh. So today, I’m excited to dive back in and continue sharing short and sharp financial insights to support you on your business journey.
When it comes to client work in my bookkeeping business, a common predicament we face is messy Xero files. Whether they’re brand new businesses struggling to make sense of Xero or companies dealing with the aftermath of inexperienced bookkeeping, the message is clear – many business owners are in the dark about the basics of maintaining their Xero files.
In this episode, I'm hitting the reset button and taking us back to the fundamentals. I'll guide you through five crucial steps to conduct a health check on your Xero file. These steps will help you spot issues, improve your financial decision-making and make your bookkeeping experience a smooth one.
Whilst big bookkeeping stuff-ups might need the help of a professional to come in and unravel the mess, a lot of the problem is knowing there’s an issue in the first place. Bookkeeping clean ups are much easier to deal with two months in rather than twelve months in, and I take you through these practical steps in detail to help you take stock of what’s going on under the hood of your Xero file:

1. Getting your bank reconciliations in order
2. Tidying up your dashboard
3. Analysing your profit and loss report
4. Understanding your balance sheet
5. Cleaning up any ageing reports

Staying on top of your bookkeeping may feel overwhelming and less interesting than the other aspects of your business, however it’s an important part of keeping things running smoothly across the board. Remember, timely attention to your financial records prevents messy bookkeeping down the road. If it’s not something you wish to deal with yourself, there are many professionals out there who are ready and able to assist you in maintaining your financial health!

LINKS:
Where to Find Bec:

• Website:https://straightupbookkeeping.com.au/
• Instagram: @straightup_bookkeeping
• Facebook: @straightupbookkeeping
• LinkedIn: @straight-up-bookkeeping

Register your interest in the Bookkeeping it Real Mentoring Program here.
Check out my bite-sized Xero courses here.