Finance & Moneybeginner
Xero
Definition
A cloud-based accounting software popular with UK small businesses and their accountants, handling invoicing, expenses, bank reconciliation, and VAT returns.
Why it matters
Xero connects directly to your bank account, automatically categorises transactions, and makes VAT returns simple. Most UK accountants are Xero partners, making collaboration seamless.
Example
A founder connects Xero to her business bank account. Transactions import automatically, she reviews and categorises weekly, and her accountant accesses the same data in real time.
Related terms
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