Not everyone loves bookkeeping as much as we do, and we totally get that. But with the right tools, you can reduce the time you spend on bookkeeping by up to 80%. Here are three essential tips that we use at the Bookkeeper Hub to stay efficient.
- Set Up Your Bank Feeds
– Ensure your bank feeds are set up in Xero. This will allow all transactions to flow through automatically, minimizing manual data entry.
- Utilise Bill Apps
– Use bill apps like DEXT and Hubdoc to streamline your invoice management. These apps use optical character recognition (OCR) to extract information from your bills, making it easy to categorize and automate entries.
– Hubdoc is owned by Xero, and if you have a standard Xero file with normal cash flow and payroll, it’s 100% free.
– DEXT, while not free, offers advanced features such as splitting line items and allocating tracking codes, making it ideal for businesses with more complex needs.
- Implement Time Tracker and Payroll Systems
– Xero’s payroll system is excellent, but for businesses with casual staff, integrating time tracker apps like Deputy or Tanda can save even more time.
– These apps allow staff to log in and out, confirm breaks, and push timesheets directly to Xero, streamlining both your HR and bookkeeping processes.
By using these three tools—bank feeds, bill apps, and time tracker/payroll systems—you can significantly reduce the time spent on bookkeeping and focus more on growing your business.
If you’re unsure which tools are right for you or how to set them up, give us a call and we’ll help you navigate the options to find the best fit for your needs.