While attending the Xero to Hero course run by the fantastic team atConsultive Training, I was amazed that the seemingly simple Xero Accounting System could have so much depth under the hood. It is evident how much investment has been made in thinking through all aspects of their product and why it is rapidly become a major global player. Yet despite all the amazing capabilities across accounting, payroll and expenses, there was one tiny feature that blew me away.
I’m familiar with the powerful but clunky MYOB system and accustomed to using Alt-Tab to flick between programs to calculate costs, general ledger posts and account for small mathematical errors. It had only been days earlier that my process of allocating costs across different tracking codes based on percentages required a separate spreadsheet and the copy-paste function.
But a five second remark by the trainer alerted me to something that should be so obvious. Rather than doing the calculation outside of Xero, you can enter your formula in any amount field. The formula can include brackets and the common operators of *, /, + and -.
Sometimes the genius is in the little things.