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

To get the most out of this book

First, relax; Xero is going to make your life easy. If you are a business owner and you do not already have Xero, start a trial. It is free for 30 days and is fully functional. If you are an accounting professional, you too should have Xero set up, but if you do not, you should start a trial but do sign up to be a partner and gain access to your free firm account. It will give you all of the tools we will explore in the book. Remember that not all feaures will work if you are using a Xero Demo company.

Software/hardware covered in the book

Operating system requirements

Xero

Any web browser; however, Chrome is recommended.

Sign up for a Xero Trial here: https://www.xero.com/us/signup/.

Sign up to become a Xero Partner: https://www.xero.com/us/partner-programme/sign-up/.

I suggest reading through the book, and then grabbing your laptop, tablet, or phone, and then going chapter by chapter, using the examples, and then seeing how they apply to your business.