Xero

Spring isn’t just for closets—it’s also the perfect time to freshen up your business finances.

Before the busy holiday season sets in, use this window to tidy your accounts, fix recurring issues, and set yourself up for a strong finish to the calendar year.

Here’s a simple 5-step checklist to spring clean your business finances.

✅ 1. Reconcile old transactions

Are there old unreconciled bank or credit card transactions lingering in your file? These can skew your reports and lead to BAS errors.

→ Action: Reconcile all accounts fully up to the most recent bank feed. Investigate and clear any outstanding items.

✅ 2. Review your chart of accounts

Over time, account lists can get messy—duplicate codes, unused categories, or vague names make reporting harder.

→ Action: Archive unused accounts and re-label confusing ones. Consider grouping accounts into logical categories for cleaner reporting.

✅ 3. Clean up customer and supplier contacts

Still invoicing “ABC Pty Ltd – New” and “ABC Pty Ltd – Old”?
Too many duplicate or incomplete contacts clutter your records.

→ Action: Merge duplicates, update missing ABNs or emails, and deactivate inactive contacts.

✅ 4. Audit your repeating transactions and subscriptions

Recurring invoices and bills are convenient—but only if they’re still relevant.

→ Action: Cancel or update any repeating transactions that are no longer valid. This avoids clutter and incorrect accruals.

✅ 5. Review employee records and payroll settings

If you’ve had staff changes this year, now’s the time to check:

• Terminations are processed correctly
• Super settings are up to date
• STP2 mappings are accurate
• Leave balances are accurate

→ Action: Run an employee summary report and payroll audit for peace of mind before the Christmas period.

🌿 Need help with your spring tidy-up?

If your Xero file is looking a little chaotic or you just want a second pair of eyes, I offer fixed-fee Xero file reviews, clean-ups, and BAS-ready checks.

📩 Book yours here → [Insert link]
🧹 Simple. Stress-free. Sorted.

The start of a new financial year is the perfect time to look at what’s changed in your accounting software. Xero has quietly rolled out some useful new features and improvements that can make your workflow more efficient and your reports more insightful.

Here’s a roundup of the most relevant Xero updates for 2024–25—and how you can make the most of them.

🔹 1. Enhanced STP Phase 2 Functionality

Xero continues to refine its STP2 features, making it easier to:

• Map pay items to ATO reporting categories
• Auto-fill employment and income types for new employees
• See flagged errors before lodging

✅ Tip: If you haven’t reviewed your payroll setup in a while, now’s a great time to run a quick check.

🔹 2. Improved Bank Reconciliation Screen

The reconciliation screen has had a minor facelift, now with:

• Better visual separation of transaction lines
• “One-click add” suggestions for more rule-based transactions
• Easier access to document uploads alongside each item

✅ Tip: Start using bank rules more consistently—especially for subscriptions and regular payments.

🔹 3. New Short-Term Cash Flow Reporting (Beta)

Xero has expanded its short-term cash flow tool, allowing you to:

• Forecast inflows and outflows over 7, 30, or 90 days
• Add custom expected transactions (e.g. upcoming bills or invoices)
• See the effect of scenario changes on cash position

✅ Tip: Use this tool monthly to keep an eye on seasonal slowdowns or cash gaps.

🔹 4. More Flexible Report Layouts

You can now:

• Move rows and columns directly in the report builder
• Add subtotals, groupings, and new formulas
• Save custom views and share them with your team

✅ Tip: Create a standard management report pack to reuse each month.

🔹 5. Better Integration with Third-Party Apps

Xero has expanded integrations with tools like:

• Square, Shopify, and Stripe (more automation, better matching)
• Dext and Hubdoc for cleaner document capture
• Fathom and Syft for visual performance tracking

✅ Tip: Consider reviewing your tech stack—are you making full use of what’s already available?

📋 Need help with any of this?

If you’re not sure how to get the most out of these features, or if your file’s feeling messy after EOFY, I offer:

• Xero Health Checks
• Custom Report Setup
• Ongoing support or one-off help

📅 Book a session here → [Insert link]