Efficient Accounting with Xero: The definitive guide to optimizing your accounting with proven techniques and best practices

Maximize the capabilities of Xero to achieve timely and stress-free accounting for your business

Purchase of the print or Kindle book includes a free PDF eBook

Key Features

• Become well-versed with the latest features of Xero to confidently manage all your bookkeeping tasks with ease
• Master the use of Xero and implement best practices to avoid costly errors
• Learn techniques for recording and managing financial data efficiently

Book Description

Xero empowers business owners to gain insights into their business and performance and collaborate seamlessly with their accountants and tax professionals. This book goes beyond the basics and explores the more advanced Xero features, techniques, and best practices for managing sales taxes, budgeting, and reporting.

You’ll begin by diving right into Xero, setting up a bank feed, and exploring its power while experiencing just how easy it is to use. The book will guide you in setting up Xero the right way to ensure that you succeed in each of your transactions. As you progress through the chapters, you’ll learn what spend money and receive money transactions are and be able to easily send invoices and collect receivables or payments, collect and pay bills, and even track your business assets with Xero. Toward the end, you’ll be proficient at producing powerful reports, giving you the keys to running or advising any business.

By the end of this Xero book, you’ll have gained the confidence to add a company to Xero, set up the bank feeds, reconcile the transactions, send invoices, and pay bills, ending up with beautiful financial statements.

What you will learn

• Understand why Xero is the best choice in accounting software for your SMB
• Easily set up or convert to Xero for a service- or product-based business
• Reconcile cash and related transactions effortlessly
• Track and depreciate capital assets purchased by and used in the business
• Produce customized reports tailored to your specific need
• Use Xero to make informed and timely decisions and become a better business owner or advisor

Who this book is for

This book is for small and medium business owners (SMBs) and bookkeepers or accountants who want to learn how to properly use and master Xero. Little to no knowledge of Xero is assumed. However, prior understanding of basic bookkeeping and accounting principles is required.

Table of Contents

1. Xero Basics – Subscriptions and when to use
2. Exploring Bank Feeds – The heart of Xero
3. Dialing in your organization’s settings in Xero
4. Restart with The Fresh Start Method
5. Conversion to Xero Made Easy
6. Recording and Reconciling the Bank
7. Invoicing and the Sales Process
8. Manage Bills and purchases with Procure to Pay in Xero
9. Using Xero On the Go
10. Fixed Asset Management in Xero
11. All You Need to Know About Manual Journals in Xero
12. Correcting Mistakes with Find and Recode
13. Run and customize Basic Reports In Xero
14. Advanced Reporting with Business snapshot and Short-Term Cash Flow
15. Create Custom Reports in Xero with the Layout Editor
16. Run Your Practice with Xero HQ
17. Practice wide Reports Templates in Xero
18. Exporting your Data and Reports out of Xero
19. Apps, Apps, Apps

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