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XERO

XERO is an online, cloud-based, accounting package which allows members to manage their small to medium sized businesses from anywhere that they have access to the internet.

XERO allows business owners to provide their accountant with secondary access to their financial information via the online interface so that the business owner and their accountant can work together closely to manage the financial performance of the business.

XERO also allows business owners to register for ‘bank feeds’ so that transactional data is uploaded from their financial institution automatically each morning. This means that the account information that is presented within the XERO software is kept up to date so that business owners and accountants can make informed decisions about the performance of the business. Registering for bank feeds eliminates the need for members to upload statement data manually, saving the member time.

Is XERO Secure?

Yes. Statement data is only provided to XERO after the member signs an ‘Authority to Disclose Information’ form and returns it to Xero (who then forward a copy to The Mutual). Statement data is transmitted via secure encrypted links between The Mutual and XERO and cannot be accessed by anyone except the member and (if allowed by the member) their accountant.

When registering for XERO, members designate an email address and password to use for login credentials. They are then required to activate their account through a link set to the email address that they nominate.

How do The Mutual’s Business Members Register for XERO Bank Feeds?

Mutual members can register for XERO bank feeds through their online XERO dashboard.

Members are required to complete an ‘Authority to Disclose Information’ form (available on the XERO site) with the organisation name listed as it appears in XERO and return this to XERO.