Last week in Warrnambool, we had a visit from Senior Account Managers in Xero – this was a real treat as it’s usually me going to Geelong or Melbourne to hear from them.

During the presentation, they shared an update on the happenings at Xero as well as some interesting statistics on Xero usage, and I thought you may like me to share them with you:

At 30th September, 2017 there were 1,199,000 subscribers to Xero across the world.  Of these, 518,000 were based in Australia.

If a file has been well established, up to 86% of transactions in the bank feed are able to be correctly coded automatically (via matching and bank rules) – this heavily reduces the time a business owner needs to spend on their bookkeeping.

In files where bank rules are not utilised and if clients have not been educated – in the past 12 months around 77 million transactions have been recoded – this means the initial transaction was coded incorrectly and had to be reallocated by the accountant.

What does this mean for you?  Hopefully you’re thinking “Wow, I need to get on this Xero thing – but who can help me?”

The answer: ME

Simply contact The Tax Chic and let me help establish your file and educate you in one of the most popular accounting software programs in the world!

Regards