If you’re au fait with cloud accountancy platforms like Xero, you’re probably also familiar with cloud storage facilities like Dropbox.

You might not know, however, that Xero actually has its own file storage capabilities - allowing you to keep all your invoices, bills and contracts in one safe place and share them automatically with your accountant.

Keeping on top of your cashflow means managing the money going out of your business every bit as much as the money coming in.

Did you know you can add your Paypal account into Xero?

Keeping on top of your cashflow means managing the money going out of your business every bit as much as the money coming in.

So while Xero has put in place a range of features like automated invoice reminders to help you get paid faster, it also facilitates better management of your bills and purchases to make sure you pay your suppliers on time.

For the uninitiated, a bank reconciliation is a process used to compare your books to your bank- to see if there are any differences between the two sets of records when it comes to cash transactions.

Hosting your accounts in the cloud comes with the benefit of being able to track your finances from any PC, laptop or tablet with an internet connection. And for ultimate convenience, you can use your mobile phone too - via Xero’s official mobile app, ‘Xero Touch’.

We’ve discussed the benefits of Xero’s online invoicing facility many a time in this blog. Now we’ll show you how to add a ‘Pay Now’ button to your bills and encourage even faster online payments from your clients.