Zowie Hondow When converting information from MYOB to Xero there are some system differences that need to be taken into consideration. For example MYOB will allow you to create direct entries & manual journals to the Trade Debtor and Trade Creditor accounts. In Xero you are unable to perform these actions. An out of balance between the … Read more
When ordering a conversion job there are two options for you to choose from which is either to convert full historical data from 1 July 2013 or ONLY opening balances from a certain month. Full Transactional History Conversion If you select a full transactional history conversion then you will also get payroll setup included. We … Read more
Have you recently moved across to Xero and still trying to find your way around the software wishing there was a manual about how to process your Business Activity Statement in the best way? Well we have been working with Xero for a few years now and have created a guide we follow before we … Read more
NO = tick Exempt, in Xero Pay Items Setup Payments to an employee in relation to …Awards and agreements TAX SUPER Overtime hours – award stipulates ordinary hours to be worked and employee works additional hours for which they are paid overtime rates Yes NO Overtime hours – agreement prevailing over award Yes NO Agreement supplanting award … Read more
It is very easy to set up Long Service Leave (LSL) accrual in Xero, though you do need to take into account the complexities of the different legislation in each of the states. The following is a guide for setting up LSL in Xero for payrun purposes. LSL entitlements In all Australia states employees will … Read more
When you terminate an employee, you have to make an adjustment on the amount of tax paid. The Early Termination Payment (ETP) is taxed at a different rate depending on the age and length of employment. It could be between 16.5% and 46.5%. Please see the Criteria for Whole of Income Cap. Please see the … Read more
Your level of access in Xero is determined by your user role. We have found that it’s easier to make a decision of what kind of user role you want your staff members, your accountant, financial advisers to have by looking at what they can view on each role. These are the different roles that … Read more
Xero provides some great time-saving features when it comes to employee payment and leave. You can save yourself a lot of hours normally spent on data entry by inviting your employees and letting them add their own timesheets. Leave requests can also be managed and tracked automatically. The only job left for you as a … Read more
Should my business bank-loan be set up as a liability account or as a credit card/bank account? How can I change a liability or asset account to a bank account? To use Xero in the most efficient way, you need to decide what your operational needs are. If you have a business bank loan which … Read more
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