I was very glad to see the new Introducing Xero Business Essentials videos. An initial Banking video error showed that this video was not made with the actual Xero program, but Xero fixed that very quickly.
The video expertly used a generic word (parking) in a Rule (Bank Rule), with an "any text field" contains condition. However, it then assigned the Payee to Viaduct Parking. As the initial video showed, this generic rule affected many different parking locations. Therefore, the Payee should have been Parking or simply Payee. However, the initial video made the payee Viaduct Parking. It then showed a screen that ignored the Viaduct Parking payee designation (at 2:39), in favor of three different filled in payees.
Rules are very important, because every condition in every Rules makes it so you never again have to manually post entries. Xero progessionals can easily create more than 75 Rules, with an average of 10 conditions each. Some of these Rules can make all deposits post to sales, so thousands of items post automatically. In accounts that do not write manual checks, we often see 98% of entries accounted for automatically.
Equally important, the Cash Coding screen (available to Financial Advisors from the Bank Reconciliation screen) is far faster and more effective that the old Bank Reconciliation screen. Xero already had an amazing video on properly using Cash Coding - really fast. It shows that Cash Coding is far better than many users think, which is why I will mention many more Xero issues in my next post, The Fastest and Easiest Xero Entries.
Before doing that, however, I must let Joshua Farmer, an Online Learning Specialist at Xero, make an amazing comment. Joshua is responsible for creating video training and self paced online learning content at Xero. I published the initial version of this post at 3:52 PM Eastern U.S. time, on 4/17/13. Joshua actually fixed the video and posted his comment less than 9 hours later (my approval delayed the posting of his response).