XERO is a cloud-based accounting software that can help you manage your accounts payable efficiently. Here are the steps to manage accounts payable in XERO:
Create a supplier account: You can add your suppliers' details in XERO by creating a supplier account. Go to the "Contacts" tab and click "Add Contact" to add a new supplier. Enter their contact details, payment terms, and any other relevant information.
Record supplier invoices: When you receive an invoice from a supplier, you can record it in XERO by going to the "Accounts" tab and clicking "Purchase Bills." Enter the details of the invoice, such as the date, amount, and due date.
Track payment due dates: XERO allows you to track payment due dates for each invoice. You can set up payment reminders to ensure that you don't miss any payment deadlines.
Record payments: When you make a payment to a supplier, you can record it in XERO by going to the "Accounts" tab and clicking "Accounts Payable." Enter the payment details, such as the payment date, amount, and payment method.
Reconcile payments: XERO allows you to reconcile payments with invoices. This helps you ensure that you have paid all your suppliers and that your accounts payable balance is accurate.
Generate reports: XERO provides various reports that help you manage your accounts payable effectively. You can generate reports that show your outstanding invoices, payments due, and payment history.
Overall, XERO provides a simple and effective way to manage your accounts payable. By using XERO, you can ensure that you pay your suppliers on time, maintain accurate records, and avoid payment errors.
XERO is available for PSG Grant and have up to 50% support!
Contact us at 6262 0402 or send an email at care@acebizservices.com to schedule a demo.
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