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

Xero Basics – Subscriptions and When to Use Them

As we embark on our Xero journey together throughout this book, we are going to review the ways to use Xero on a daily basis in your business. By the time you have finished this book, you will be able to fly through your daily transactions and be an ace at running the reports you need to run your business.

Using the right subscription level is critical to your use of a Xero organization. Here, we will review each of the Xero subscription levels, compare them, and give you an opportunity to find the right plan for your business. You will find the right mix of features and cost to maintain your books while cutting down on expenses.

In this chapter, we’re going to cover the following main topics:

  • Popular Xero subscription plans
  • Xero subscription plans only available as a partner
  • Determining the proper subscription for your Xero organization