book

Xero For Dummies, 4th Edition

by Heather Smith

May 2019

Beginner to intermediate

472 pages

11h 59m

English

For Dummies

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About This BookFoolish AssumptionsIcons Used in This BookBeyond the BookWhere to Go from Here
Understanding the Advantages of XeroExploring Xero’s Different EditionsHomepage: Checking Out the DashboardUnderstanding Your Team’s NeedsIntegrating Xero into Your Strategic PlanningTaking Advantage of Support OptionsUsing Xero in a Training Environment
Preparing for Set-UpSigning Up for XeroUnderstanding Bookkeeping BasicsSetting Up Your Chart of AccountsPutting Your Accounts into PracticeAdding Ways to Get PaidTax Rates
Preparing to Import Data from a Non-Accounting ProgramGetting Ready to Convert from an Accounting ProgramImporting Data into XeroTurning Off Your Old System
Tools of the Trade: Understanding the DashboardSetting Up UsersTaking Advantage of Live Bank FeedsManually Importing StatementsBank RulesUsing File Storage and the Xero Inbox
Setting Up CustomersSetting Up SuppliersConnecting Your Email Account to Your ContactsTweaking Your Contacts after Set-UpSetting Up EmployeesUtilising Smart Lists CRM functionality

Navigating the Sales DashboardMastering Basic Invoice FunctionsMastering More Advanced Invoice FunctionsRecording PaymentsTaking Advantage of Email TemplatesFollowing Up on Outstanding Debtors
Navigating the Purchases DashboardManaging Your Supplier BillsMaking PaymentsMastering Other Payment ConsiderationsEntering Expense ClaimsUnderstanding Xero Expenses Functionality
Preparing to ReconcileAutomagically Reconciling AccountsTweaking Transactions to ReconcileTaking Advantage of Cash CodingViewing Bank StatementsViewing Account TransactionsUsing the Spend Money and Receive Money OptionsFixing ErrorsWhat Happens in Life Happens in Xero
Understanding the Reports Available in XeroCustomising ReportsUnderstanding Xero’s Different Reporting OptionsExporting ReportsAccessing Management Reports
Confirming Accounts are CompleteReconciling Bank Accounts, Credit Card and Online Payment Gateway AccountsReconciling Your Clearing AccountsReconciling Your Consumer Tax Control AccountReviewing Your Business InformationReporting to Your Tax AuthorityTaking Advantage of Xero’s Budget FunctionsSetting a Period Lock Date
Getting Ready for the End of the Financial YearPreparing Accounts for Your Tax AccountantHelping with Tax Accountant TasksSpecial Considerations
Identifying Key MetricsGenerating Useful InformationUnderstanding Xero’s Tracking OptionsMaintaining Budget Control: Budget ManagerExploring Xero Projects
Understanding Inventory ItemsSetting Up a Xero Inventory ItemManaging Inventory ItemsAdjusting Inventory BalancesAccessing Cloud-Based App Solutions
Recognising Fixed AssetsAccessing Fixed Asset Reports
Setting Up Multi-Currency in XeroProcessing Multi-Currency Transactions in XeroConversion Balances and Multi-Currency Bank AccountsViewing Reports in Foreign Currency
Working with Xero to Xero NetworksUnderstanding the Benefits and Risks of Cloud App SolutionsMaking Use of Online Cloud Integration SpecialistsGetting a Feel for Available SolutionsLooking at Custom Integration
Embrace the CloudMake Use of Networking TechnologyExport Data to Create GraphsSet up Bank Feeds and Reconcile RegularlyUse the Batch Payments FeatureKeep Bank Accounts for Business UseEmbrace ChangeUse Tracking to Sharpen ReportingTake Advantage of Repeating Bills and InvoicesCollaborate with Your Xero Advisory TeamEffectively Tap into Online Storage Features
Not Making Use of Expert HelpNot Understanding Terminology DifferencesMessing Up Bank Reconciliation AutosuggestionsUsing a Communal User AccountNot Deleting Old User AccountsThinking Your Xero Emails Are StoredNot Realising the Subscriber Owns and Controls the DataTrying to Make Xero Do What Your Old System DidWatching Your Bank Feeds RefreshPaying Full Price If You’re a NFP

Content preview from Xero For Dummies, 4th Edition

Part 3

Making the Routine, Routine

IN THIS PART …

Customise reports to generate useful information about your business. Add summaries, footnotes and charts to Xero reports too!

Find out about key activities you can carry out regularly, such as reconciling and reviewing business information, and following up on outstanding debts.

Discover how Xero can assist you with reporting on consumer tax relative to the jurisdiction you’re in — information is included for New Zealand, the United States, Australia, Canada and the United Kingdom.

Understand how your tax accountant can work collaboratively with you on your Xero accounts throughout the year — you’ll benefit from receiving timely advice rather than ending up in a mad rush at the end of the financial year. Tax-related activities are explained, including how the single ledger system works, and how to enter manual journals, publish end of year reports, and work with a locked account.