Calculate Your Payroll Amounts In Xero After A Conversion

When setting up payroll in Xero, most employees would have opening balances so that payment summaries can be created out of Xero easily. The downside is that the reporting for the first quarter/ first month after conversion does not easily give the correct figures for earnings, PAYG and super. To get those, you’ll need some details from your old system.

Below is an example how to get the correct figure for Wages and PAYG Withheld for the first quarter post conversion. In this example the last payroll completed in the source file was 17 February.

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Xero Out of Balance imported from MYOB

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 moreXero Out of Balance imported from MYOB

Drowning in Bank Statements? Jet Convert to the rescue!

Our bank statement PDFs to CSV file service has traditionally been used to fill the bank feed gap in Xero following conversion where the bank can’t provide digital history. However I’ve seen quite a few really large conversions come through this year which made me curious as to how else this is being used. I … Read moreDrowning in Bank Statements? Jet Convert to the rescue!

GST MYOB & Reckon Vs Xero and the Reality

There are a number of differences in regards to GST handling that you need to be aware of when moving from one accounting package to another. These can impact you regardless of whether you are converting over yourself or using our conversion service. They mainly apply to Tax Exclusive invoices and when the entity is … Read moreGST MYOB & Reckon Vs Xero and the Reality

Reviewing Payroll data in Xero

Xero payroll is a powerful tool to minimise the time it takes to manage payments to your team as well as superannuation. To get the most out of Xero it needs to be correctly set up. When Jet converts clients from a different accounting system, we set up the payroll with the settings from the … Read moreReviewing Payroll data in Xero

Customise your Chart of Accounts into Xero

NOTE:  This service available only to Jet Convert Partners.  Please visit the Jet Convert Partner Program page for more information. Using a standard Chart of Accounts across all your Xero orgs works nicely to streamline your report packs and provide ready comparisons. However getting there can be a pile of work if you import the Chart … Read moreCustomise your Chart of Accounts into Xero

A history conversion option to suit every file

Updated September 2019 ******** Some businesses do not want to bring over transactional history but instead want a clean start in Xero.  To address this need we now offer no or limited history options in addition to the usual conversion with full transactional history. Your options include: Current month history only $0 balances Transactional history. … Read moreA history conversion option to suit every file

How does payroll come across from MYOB to Xero?

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 moreHow does payroll come across from MYOB to Xero?

Converting to Xero – blow by blow!

Updated: April 2019 In my role as Business Relationship Manager I get a lot of inquiries from Xero Partners wanting to understand the conversion process. If you have never used us before, the unknown may be daunting – but in reality it is all very straightforward! https://youtu.be/dFor9WP8v78 1. Prepare the source file There is some ‘tidy-up’ … Read moreConverting to Xero – blow by blow!

Changing GST Accounting Basis following a conversion

Changing your GST Accounting basis at any time, be it post conversion or some time in the future, will have an impact on the GST history. For example, with moving from Cash to Accrual all the transactions once flagged at Payment/Receipt for BAS reporting will now be ignored and reorganised to have GST recognised at invoice … Read moreChanging GST Accounting Basis following a conversion

Xero Payroll Items Guidelines

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 moreXero Payroll Items Guidelines

Account Types In Xero!

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 you want to be able to reconcile easily in Xero then YES you want to set it up as a bank account! Any account that you want to reconcile is best set up as a bank account.

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