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

Index

As this ebook edition doesn't have fixed pagination, the page numbers below are hyperlinked for reference only, based on the printed edition of this book.

A

accounting data

exporting 259-262

Accounts Payable (AP) 109

bills, processing 114-117

Analytics 185

Analytics Plus 185

application programming interface (API) 10

artificial intelligence (AI) 79

assets

adding, to Xero 143- 145

depreciation, running 145-147

disposing 147-149

B

bank feed 69-73

balancing 19-22

Direct feeds 10

need for 9, 10

setting up 11-19

time 56

Yodlee feeds 10

bank reconciliation process 82, 84

bank rules

setting up 76-79

bank statement

importing 73-76

basic report

customizing 197-202

beginning balances 46, 47

data entry, with conversion balances 56

importing 47

importing, with chart of accounts 48-55

bill payment 118-122

blank template

schedule, designing 203-207

Business...