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Empowering Bookkeepers: The Advantages of Using Xero and its Ecosystem (Sponsored by Xero)

Say it with me - empowered people empower people.

As the bookkeeping industry transitions into cloud-based bookkeeping and begins adopting AI and automation, our roles start to change - for the better! We are the ones in the books and numbers more frequently and start to see trends that we can advise our clients on. Often, our clients come to us for clarity - sometimes just as a compliance measure - but we can start stepping into our roles as advisors.

Here are some ways that I use Xero to help me advise and collaborate - and ultimately empower - with clients.

1. Streamlined Workflow and Automation

In order for bookkeepers to start exploring other revenue streams, we need to get our regular duties automated. By using tools like Xero and Hubdoc together, we can start getting our source documents in a more efficient way and then spend just a few minutes checking over everything and completing the bank reconciliation.

With a one-click reconciliation in Xero, we can take away the pain of duplicating work; when we match on the bank reconciliation, it will reconcile that statement line.

Hubdoc is super friendly and easy for you as well as your client to use. The automatic sorting of the receipts into folders is incredibly helpful and helps find receipts quickly. I even have clients that sort by year or expense type since it’s easier for them. You can mass download receipts, sync to back up locations, and sync to Xero Files.

If you want to learn more about streamlined workflow and automation in the Xero ecosystem, be sure to check out their webinar on Tips and Tricks to Maximize your Capabilities with Xero on March 11, 2025.

2. Real-Time Financial Insights

These days, clients are asking more and more questions around cashflow, forecasting, and ongoing business concerns. Xero keeps reporting easy - with a litany of reports available, you can always find one that is good for your clients. Also, keep sales tax easy with the reporting that’s available. For NFPs, create special GST/HST or provincial sales tax codes so that your filings are quick and accurate.

Whether it is the business insights report or a simple profit and loss, you’ll be able to quickly find the information. You’re not only able to see that in the client file, but also from your Xero HQ and see high-level financials.

Recently, Xero acquired Syft Analytics. With custom reporting, forecasting, as well as live dashboards this will be a game changer for us bookkeepers. Over time, I look forward to how Xero will embed Syft into its ecosystem. I’m most excited to work with my clients on the live dashboard with Syft so they can get easy access to their finances. They can save the password protected link and get up to date information which really compliments Xero’s already beautiful reporting capabilities.

If you’re looking to learn more about simplified reporting, check out Xero Business Edition: The Benefits for your Practice and Clients on March 4, 2025.

3. Enhanced Collaboration with Clients

When it comes to collaborating with clients and their team, having the right tools in place keeps it simple. Xero has an entire ecosystem that helps you with your work. Whether that is source documents, AR or AP, sales taxes, or even growing into advisory, there are tools available. With Xero, you can have unlimited users with a variety of levels of access. Whether they are full advisors or someone inputting AR or AP, you don’t have to worry about extra costs of having someone access the books.

I also love that with the Xero reports, clients are able to pull them on their own, drill down, and find information - saving time for everyone on ‘what’s that’ questions and giving more time to advising in a timely manner.

When it comes to having the numbers done, we can start to have larger discussions with our clients about their business, plans, and ultimately how to help them grow. Our clients should feel empowered with the work we complete for them to make better business decisions in a timely manner.

For more on collaboration and advising, check out the webinar on Enhancing your Advisory Services with Xero on March 26, 2025.

4. Integration with a Wide Range of Applications

One of my favorite things about Xero is the ability to integrate different software into the accounting system. Whether that is Hubdoc or Syft or TaxCycle, or maybe something else like Wagepoint, Shopify, Stripe or other systems, keep it simple and easy and don’t do manual work where you can help it. With a push of a button or even automatically, inflows and outflows are getting entered accurately for bookkeeping purposes so we can focus on streamlining our processes.

The integration with TaxCycle can also save you a ton of time - specifically with the ability to export the T2, and the T1 - T2125 and T1 - T766 info from Xero directly into TaxCycle with custom GIFI mapping. Mapping your T2 or T1 GIFI in Taxcycle takes little time and with the direct integration with TaxCycle you can make necessary changes in the bookkeeping and flow the information to TaxCycle with one click, as many times as you need. 

For more information on the TaxCycle integration, check out the webinar Supercharge your T1 2125 Filing Process with Xero and TaxCycle on March 18, 2025.

Final Thoughts

Xero is more than just bookkeeping software—it’s a tool that empowers bookkeepers to work more efficiently, provide deeper financial insights, and collaborate seamlessly with clients. By leveraging automation, real-time reporting, enhanced collaboration, and powerful integrations, bookkeepers can move beyond compliance and become true advisors. As the industry evolves, embracing technology like Xero allows us to focus on strategic growth, helping both our clients and our own businesses thrive.

If you’re ready to take your practice to the next level, be sure to explore Xero’s webinars and discover how you can maximize its capabilities.

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