xero accounting software internal controls

Once you’re done adding your bank account, select “Get bank feeds” to automatically import your bank transactions to Xero daily.

Click “Login & Connect Accounts” then input your bank details to complete the process.

Type in your bank’s name in the search bar then select it in the search results.

To set up your bank account, click the “Accounting” tab on your dashboard then select “Bank accounts”.

Step 1: Connect your bank to XeroĬonnecting your bank automatically imports your bank transactions to this software every day. Here are the ways to reconcile your accounts using Xero accounting software. Follow these steps on how to do bank reconciliation in Xero. Good thing, Xero accounting software can make this process easier for you. Nonetheless, it’s critical to your financial health. At a minimum, it’s best to reconcile your bank and bookkeeping records daily, weekly, or monthly to catch errors immediately. Bank reconciliation protects your business from fraud, accounting errors, and mismanaged funds.

Xero accounting software internal controls