Chapter 2

Getting Organised: Setting Up Xero from Scratch


Bullet Getting together everything you need for set-up

Bullet Making your way through the set-up guide

Bullet Organising your Chart of Accounts

Bullet Checking your balances and increasing your payment accounts

Bullet Confirming your consumer tax rates

Customers of mine, a husband and wife partnership who run an electrical importing business out of their small apartment, confided to me that, prior to investing in their business accounting system, they were close to divorce. Signing up to Xero was such a relief. They now know who owes them money and who they owe money to. They understand how different areas in the business are tracking and are more informed when making decisions. They no longer lie in bed awake at night worrying or having protracted discussions about the business. They are in control. Who knew investing in an accounting system could buy you a peaceful night’s sleep and save your relationships?!

So what are you waiting for? This ...

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