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

Summary

Apps are integral to building efficiency in the accounting process. In this chapter, we have talked about why we use apps, how we connect them to Xero, and the apps I use and love in my processes every day.

We have now taken Xero full circle, from setup to using apps to make your workflow more efficient. As you can see, Xero is the ultimate hub for the tools you use to run your business or accounting firm. Take advantage of the efficiency of Xero’s built-in features and then supercharge those features with the integration of a few very well-placed apps.

And with the end of this chapter, we have reached the end of this book. If you have read it all the way through from start to finish, now go back and use this book to guide you as you go step by step setting up Xero, recording transactions, running reports, etc... and most importantly, run your business, generate income, and increase your profits. Use Xero to keep you in the know!