During the presentation, they shared an update on the happenings at Xero as well as some interesting statistics on Xero usage, and I thought you may like me to share them with you:
At 30th September, 2017 there were 1,199,000 subscribers to Xero across the world. Of these, 518,000 were based in Australia.
If a file has been well established, up to 86% of transactions in the bank feed are able to be correctly coded automatically (via matching and bank rules) – this heavily reduces the time a business owner needs to spend on their bookkeeping.
In files where bank rules are not utilised and if clients have not been educated – in the past 12 months around 77 million transactions have been recoded – this means the initial transaction was coded incorrectly and had to be reallocated by the accountant.
What does this mean for you? Hopefully you’re thinking “Wow, I need to get on this Xero thing – but who can help me?”
The answer: ME
Simply contact The Tax Chic and let me help establish your file and educate you in one of the most popular accounting software programs in the world!