The joy of using Xero is that it makes bookkeeping tasks pain-free and ensures your business accounts stay fit and healthy all year round.
Invariably, a late night or exposure to some bug when defences are weakened can cause an unexplained ailment that you may not know is lurking in the depths of your Xero account.
We’re talking about an unhealthy statement reconciliation report.
In the same way your blood pressure should be regularly checked – you should regularly check the reconciliation report.
It’s a good habit to review it each time a compliance return is made, for example a GST, VAT or BAS report, depending on where you operate your business.