They can play a crucial role in managing the financial aspects of a small business, responsible for recording all transactions.

Here’s what they typically do:
Data entry: They record all financial transactions, including sales, expenses, and invoices, into the Xero system.

Sales Tracking: They ensure accurate recording of sales data, either manually or by integrating with point-of-sale or invoicing software.

Bank Reconciliation: They regularly cross-reference the business’s books with bank statements to ensure transactions match. They identify discrepancies and investigate reasons for any discrepancies.

Expense Tracking: They record and categorize all business-related expenses. They maintain proof of purchase for tax deduction purposes.

Financial Reporting: They generate financial reports using Xero, such as profit and loss statements, balance sheets, and cash flow reports. These reports provide insights into the business’s financial health.

Payroll Management: They handle payroll tasks, including calculating employee salaries, taxes, and benefits. They ensure accurate payroll processing and compliance.

Tax Preparation: They organize financial data for tax returns. They work with accountants to ensure accurate tax filings.

Integration with Banking and Payment Systems: They connect Xero to the business’s bank accounts and payment gateways. This allows for seamless reconciliation and real-time tracking.

Communication and Collaboration: They collaborate with business owners, accountants, and other stakeholders. They provide reliable financial information for decision-making.

In summary, a Xero bookkeeper ensures accurate financial records, helps with compliance, and provides valuable insights for small business owners.

What does a Xero bookkeeper do for a small business? Image showing bookkeeper working on their laptop on Xero

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