The top Xero trends for 2023 and beyond

Whether you own a small business or work for a larger firm, you’re grappling with the evolving demands of financial management. Chances are, you’re feeling that constant need to stay ahead of the curve.

That’s why this webinar offers a trove of Xero tips and forecasts for 2023 and beyond. It dives into effective strategies and best practices to optimize your Xero experience and improve your bottom line. 

After watching this webinar, you can expect to:

  • Unlock new efficiencies.
  • Tighten security.
  • Boost your customer management capabilities.

Let’s jump in!


Webinar snapshot: Essential points summarized

Here’s a snapshot of the key points from the webinar. 

How to protect your Xero data

User permissions

The first line of defense in protecting your Xero data is managing user permissions well. As Alex Keselman points out in the webinar, people are the weakest point in every security system. So, it’s crucial to limit access to your Xero data to only those who need it. 

There are several apps available that help manage user permissions. Plus, they provide additional benefits such as:

  • Easy approval decisions.
  • Invoice digitization.
  • Report creation. 

You eliminate many cybersecurity risks by keeping users who don’t need access to Xero away from the platform.

Phishing and accounting fraud

Phishing attacks and accounting fraud are common threats to your data security. These attacks often come as fraudulent emails, which can be very convincing. 

It’s essential to be vigilant and not rely solely on surface-level information. Scammers can easily: 

  • Spoof email addresses. 
  • Send fraudulent requests for approval or payment. 
  • Disguise dangerous links.

Keeping yourself educated on the latest phishing techniques helps you spot and avoid these threats.

Cybersecurity training

Regular cybersecurity training is also a vital part of protecting your Xero data. The best security measures constantly change, and staying informed about potential threats is critical to maintaining a strong defense. 

As Alex suggests, consider implementing quarterly training to keep your team up-to-date on cybersecurity threats and best practices. Remember, your cybersecurity is only as strong as your least informed team member. 

Meet Method, your next employee of the month.

Top 7 Xero tips and best practices for 2023

1. Create customized roles

One of the most effective Xero tips is to create customized roles for your team members. By tailoring access permissions to the specific needs of each role, you add a layer of security and efficiency to your team’s daily workflow. This way, your team members can access the information they need while sensitive data stays confidential.

2. Schedule repeating invoices and bills

Scheduling repeating invoices and bills is a great way to save time and ensure consistency. 

With CRM software like Method, you can extend Xero’s power to simplify your business processes. 

Set up recurring invoices and bills that you can automatically send at whatever intervals you choose. This is particularly useful for managing regular expenses and income.

3. Set up invoice reminders

Another one of your top Xero tips is to set up invoice reminders. With automation, Xero helps manage your cash flow by notifying you of due and overdue invoices. This keeps you on top of your receivables so you can maintain healthy business relationships and ensure timely payments. 

4. Direct bank feeds

Another trick is to use direct bank feeds. This feature lets you connect Xero to your bank account to get real-time updates on your transactions. 

It simplifies account reconciliation to make your financial records accurate and up to date.

5. Use the built-in calculator

Xero’s built-in calculator saves you time and reduces errors. It handles various calculations directly in your invoices, bills, and quotes. These include: 

  • Adding up expenses.
  • Calculating discounts.
  • Figuring out tax amounts. 

6. Sync with Google Sheets

Another one of your top Xero tips is to sync your data with Google Sheets. With this integration, you can export reports directly to Google Sheets to further analyze and visualize your data. It’s a great way to create custom reports and share financial information with your team.

7. Explore the Xero app ecosystem

Some of the best advice from the webinar is to explore the Xero app ecosystem. Xero is a great accounting software, but it wasn’t designed to do everything. 

Xero integrates with a wide range of apps to help you manage various aspects of your business, from inventory and email marketing to customer relationship management.

Final thoughts: Xero tips to overcome growing pains

Overall, here are some key Xero tips and takeaways to help you overcome growing pains as you scale:

  • Identify and address gaps in your workflows. Use the Xero App Store to find solutions that meet your specific needs.
  • Contact app developers and providers for help with integration and new technologies.
  • Stay focused on solving your core business issues, rather than getting distracted by attractive but non-essential features.
  • Build a scalable app stack to create a unified business system. 
  • Leverage resources like Xero’s support team and community forums for help and information.

Remember, continuous learning with the right tools is crucial for success with Xero in 2023 and beyond.

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