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

Time to start the conversion

In this section, we will look into how to get started with the conversion with Jet Convert after we have prepared our QBDT and QBO files.

Converting your QBDT file

Once you have prepared your QBDT file for conversion, follow these steps to convert it:

  1. Go to Jetconvert.com and click on the button that says Start Your Xero Conversion By Uploading Your File:
Figure 5.1: The Jet Convert website

Figure 5.1: The Jet Convert website

  1. Upload your QBDT backup file:
    1. Browse for your backup file.
    2. Indicate your file’s country of origin from the drop-down list.
    3. Click on Upload Your File to upload your QBDT backup file:
Figure 5.2: The QBDT upload page

Figure 5.2: The QBDT upload page

  1. Enter the remaining requested details:
    • QBDT admin password
    • Contact details
    • Any special instructions
    • Add any Xero promo code should you have one
    • Check the disclaimer boxes
  2. Click Proceed:
    Figure 5.3: The Jet Convert details step

Figure 5.3: The Jet Convert details step

  1. Select a package:
  2. ...