Book Image

Efficient Accounting with Xero

By : Jay Kimelman
Book Image

Efficient Accounting with Xero

By: Jay Kimelman

Overview of this book

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.
Table of Contents (27 chapters)
1
Part 1: Hitting the Ground Running
7
Part 2: Handling the Day-to-Day Processes
12
Part 3: Closing Out the Accounting Period
16
Part 4: Reporting – Knowing About the Performance of Your Business (KPIs)
18
Chapter 14: Business Analytics with Business Snapshot and Short-Term Cash Flow
20
Part 5: For the Advisor

What are apps that are built for Xero?

Xero on its own is a powerful tool in the small to medium-sized business and accounting worlds. Add a few properly vetted and placed apps, and Xero is now supercharged and an efficient, well-oiled machine.

I like to put apps in two categories, internal or foundational apps and external or your client-side deliverable apps.

To get an idea of the apps available to Xero users, you should head to the Xero App Store at Apps.Xero.Com.

Here, you can see the hundreds of apps built and approved for use with Xero.

Note

You can search the App Store by app function, the industries they serve, and by collections, which are Xero staff picks, featured apps, and the like.

Figure 19.1: Xero App Store home page

Figure 19.1: Xero App Store home page

As you can see in Figure 19.1, you can search for specific apps, industries, tasks, and departments. You can click on Popular app categories such as Time tracking, Payroll HR, Payments, Inventory, Reporting, and...