Bank to the Future with new Xero feature
Xero have announced a new Running Balance feature aimed at helping SME’s manage their cash flow with even more efficiency.
According to recent statistics 82% of small business fail as a result of cash flow problems so Xero have included the ability to add future transactions into the running balance.
This means that if you know you need to pay out £10,000 to HMRC in two weeks you can enter that payment and your bank will still reconcile but the system will reflect that payment so you don’t dip into money that should be set aside for something else.
Please note in order to view the running balance the page should be sorted in date order. This is the default view but some users may have changed it based on their preferences.
If you need any advice on Xero or how to use this new feature please get in touch with any member of your CloudAccountant accountancy team. Visit www.cloudaccountant.co.uk or email email@example.com