Xero has a great app that saves a lot of time and almost all of our clients find this extremely helpful!!
This is Xero Expenses.
Who has Xero Expenses included in their plan
Access to Xero Expenses is available to all Xero subscriptions beginning Xero’s Grow Subscription.
Manage expenses when you subscribe to the Grow, Comprehensive or Ultimate plans. The Grow plan includes expense claiming for one person; the Comprehensive plan includes expense claiming for five people; while the Ultimate plan includes expense claiming for 10 people. You can add more users to any of these plans for an additional $5 per user per month.
What is Xero Expenses
Xero Expenses is a function within Xero that be used with a connected phone app, available on both IOS or Android Google’s Android and Apple’s iOS operating systems and within Xero’s web-based program.
Xero Expenses enables approved users to:
- Submit expense reimbursement requests, and/or enter transactions that have already been paid by your organisation’s bank, debit or credit cards.
- Approvers to approve the Expense, and
- Speed up the process of reimbursing the expense or reconciling expenses that have already been paid.
Please click here for Xero’s webpage about Xero Expenses
Once Xero Expenses has been set up in your Xero organisation, the main steps for using Xero Expenses are:
- The submitter creates an Expense, starting with a picture of a receipt or invoice.
- An approver approves the Expense, and
- The Expense is either reimbursed or reconciled.
Here is a short video about Xero Expenses created by Xero to give you a quick overview: https://www.youtube.com/watch?v=YlX_oH58MgY
How Xero Expenses can be used for your organisation.
- Reimbursing regular employees or significant volunteers for church expenses they have paid for out of their own money
- Entering transactions with attached documentation for expenses already or automatically paid out of a bank account, Debit, or Credit Card owned by and organisation.
- Religious practitioners or employees of Public Benevolent Institutions with fringe benefits can use this to submit claims to be paid out of benefits accounts or create and document transactions that have already been paid out of their benefits or salary sacrifice accounts.
Why you should use Xero Expenses
Xero expenses:
- Saves time – reduces overall administration time
- Can be processed when the expense happens
- Documents are attached to every transaction – no more paper is required
- Gives visibility to expenses incurred by your organisation by including an approval process
- Only a very small cost per user per month – so much cheaper than labour costs involved in processing all this data
Here is a short video created by Xero about the benefits of Xero Expenses: https://www.youtube.com/watch?v=-I8UEUOvG8Q
Our next blog will include the steps to set up Xero Expenses.
For more information about Xero Expenses email us at [email protected].