We have lots of clients who do their own bookkeeping in Xero. Here are our Best Practices for managing your own bookkeeping:
- Keep your personal transactions out of the business bank account. If you need to spend on something personal transfer funds to your personal account and pay from there! The transfer to yourself (and any personal spending you do include) is Drawings/Shareholder Loan.
- Add your expenses as Bills or Spend money as you incur them. This will avoid missing things. Use Xero’s Email to Files or Email to Bills feature to get documents into the queue, or for more powerful features talk to us about Receipt Bank.