Mastering Xero: Your ultimate guide for a smooth and successful experience with Xero

Cloud accounting has become the new norm, transforming manual record-keeping into a digital, streamlined process. At Green and Peter chartered accountants, we proudly advocate for Xero as our preferred cloud accounting platform.  

As dedicated Xero accountants, we are committed to assisting those who use or consider using Xero to manage their business finances. 

To address common queries about the platform, we’ve compiled a hit list of 6 frequently asked Xero questions, to help you navigate this digital tool and make it the best companion for your company. 

Green and Peter Chartered accountant Xero FAQ’s


The primary goal of bank reconciliation is to ensure that all transactions in your bank accounts are accurately recorded in your company’s accounting records. 

Thankfully, Xero has made this process easy with its Reconcile tab, where you can align your bank statements on the left side with corresponding Xero transactions on the right side of the page. 

This feature enables you to match your payments and create necessary transactions during the reconciliation process. Xero even notifies you when bank statement lines are ready for reconciliation. 

In the Reconcile tab, you have several options: 

  • Match existing transactions (invoices or bills) to statements. Xero may even suggest transactions based on rules you’ve set up within the system. 
  • Create a new transaction for any spending or income. 
  • If you have any doubts or queries about a specific transaction, you can leave a question for your accountant to clarify. 

Bank reconciliation in Xero streamlines the process, allowing you to manage and confirm your financial transactions effortlessly. 


Adding bank detail to Xero is a breeze! 

Just follow these simple steps: 

  1. Click on your organisation’s name and navigate to “Settings” > “Invoice Settings.” 
  1. Under “Options,” select “Edit” for the template where you wish to add payment details. 
  1. If you send invoices by post, check the “Show Payment Advice Cut-Away” box. This allows customers to return the cut-away with their payment if needed. 
  1. Input your bank details in the “Terms & Payment Advice” box. 
  1. Click “Save” to finalise the changes. 

That’s it! With just a few clicks, you can effortlessly add your bank details to your Xero invoices, providing convenience for your customers and facilitating smoother payment processes. 


The process of setting up invoices in Xero offers some flexibility, as users can choose between the classic or “new” invoicing options. Switching between the two is as easy as following the link at the bottom of the sales invoice screen. 

To create a new invoice, click the “+” icon and select “Invoice.” From there, you can customise it to suit your preferences in various ways, such as: 

  • Adding the contact’s name and address. 
  • Including items for invoicing, with the ability to adjust both the price and quantity. You also have the option to use the “Add Last Items” feature to repeat items from the last invoice sent to the recipient. 
  • Editing item descriptions as needed. 
  • Rearranging invoice lines according to your preference. 

With these customisations in place, you’ll have a brand-new invoice tailored to your requirements. 


In short, no, the Xero platform does not support consolidations on its own. 

However, Xero alone does not have built-in capabilities for consolidations. However, several third-party apps integrate with Xero and provide consolidation functionality. 

 If you need to perform consolidations for your business, you can explore these Xero integration apps to find the one that best fits your specific requirements and business needs. 


To invite your accountant and grant them access to your Xero subscription, follow these simple steps: 

  1. Click on your organisation’s name, located in the top left-hand corner of the Xero screen. 
  1. Select “Settings.” 
  1. Under the “General” heading, click on “Users.” 
  1. Click on “Invite a user.” 
  1. Enter your accountant’s details, including their First Name, Last Name, and Email. 
  1. Under the “Give them access to” heading, make sure to tick the following options: 
  1. Payroll admin 
  1. Business and Accounting 
  1. Next, click on “Adviser” and ensure that you tick all the empty boxes, as shown below. 
  1. Choose the appropriate settings to grant your accountant access to your Xero account. 
  1. Finally, click on “Send invite.” 

Your accountant will receive an invitation to join your Xero subscription via email. Once they accept the invitation, they will be able to collaborate with you in real time within Xero! 


Xero’s credit note capabilities offer great flexibility, allowing you to reduce the amount owed to a supplier or even receive a refund. Here are four ways to utilise credit notes in Xero: 

  1. Add a credit note from a bill 

If you are awaiting payment from a previous bill from a supplier, you can create a credit note based on that bill. Access the Business menu, go to “Purchases,” and select the “Awaiting Payment” tab. Click on the relevant bill and choose “Add Credit Note” under “Bill Options.” Xero will generate a pre-populated credit note that you can edit as needed. 

  1. Add a credit note from the “Purchases” section 

In the “Business” menu, click on “Bills to Pay.” From the drop-down menu, select “Credit Note” and provide the necessary details. You can also upload files related to the credit note. Finally, click “Approve” to confirm it or “Save” to approve it later. 

  1. Add a credit note using a supplier’s contact details 

Simply locate the contact details of the supplier and, under “New,” select “Bill Credit Note.” Enter the credit note details, and if desired, upload relevant files. Click “Approve” or “Save,” as required. 

  1. Copy another credit note 

This option lets you duplicate a credit note. Go to the “Bills to Pay” section in the Business menu, locate the desired credit note, and select “Copy” from the “Credit Note Options” menu. Edit it as necessary and click “Approve” or “Save.” 

Need assistance with your Xero account or have questions that weren’t covered in our Xero FAQ? No need to worry! If you’d like to explore the services we provide and how we can contribute to the growth of your business, feel free to get in touch with us.  

At Green and Peter chartered accountant, we take pride in our expertise in Xero, and we’d be more than happy to help you make the most of this powerful accounting platform.  

Don’t hesitate to reach out – we’re here to support your business and ensure you have a smooth and successful financial journey with Xero! 

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top