How to simplify your quarterly tasks – with Xolo!

One, two, four times a year? Freelancers and entrepreneurs across the globe handle a myriad of responsibilities and administrative tasks many times over. 

It’s true. Managing your business finances can feel overwhelming. 

But staying on top of your quarterly responsibilities doesn’t have to be stressful. 

With the Xolo platform and a little organization, you can streamline your accounting process and avoid last-minute headaches. Here’s a breakdown of what you need to do for every quarter to keep your business running smoothly.

Setting up your Quarterly checklist

One by one and the things get done! It doesn’t have to be New Years for you to start organizing each quarter’s plans. Start building your quarterly checklist whenever you’re ready to get going.

To kick things off…

1. Start by uploading your sales invoices

Your sales invoices form the backbone of your financial records. When you create invoices in Xolo, they’re automatically stored in your account. However, if you’ve issued additional invoices outside our platform, make sure to upload them promptly. 

This ensures your revenue is accurately reported and ready for VAT filings.

2. Next, upload your expense and purchase invoices

Expenses play a vital role in reducing your taxable income. Upload every business-related expense invoice, including:

• Registration fee from the Chamber of Commerce
• Office supplies
• Travel costs
• Domain or software subscriptions
• Marketing or advertising fees

Ensure that VAT is clearly displayed on each invoice, as this is crucial for accurate VAT deductions.

3. Now it’s time for bank statements

To reconcile your accounts and match all transactions, upload any business bank statements covering the entire quarter. 

These statements help ensure all your income and expenses are properly recorded in Xolo.

Deadlines worth marking in your quarterly checklist calendar

Timely uploads are essential to ensure your VAT filings are accurate and penalty-free. We strongly recommend marking these quarterly deadlines in your calendar:

Streamline your workflow – with Xolo!

Staying organized not only keeps you compliant with tax authorities but also gives you a clear view of your business performance. Knowing your revenue, expenses, and cash flow on a quarterly basis helps you make informed decisions for growth.

Quarterly tasks might seem daunting, but with Xolo’s tools and a proactive approach, you can breeze through them. Upload your invoices, receipts, and bank statements on time, and you’ll stay ahead of deadlines while keeping your financials in order.

Start organizing your first quarter today and experience the peace of mind that comes with staying on top of your business finances. 

Need help? Our support team is by your side.