We hear people say they have to juggle their conversions to Xero to coincide with the end of quarter or financial year. This would only be true if you are converting using conversion balances, but we do a full transactional history conversion. Including open invoices and bills (and closed Invoices and bills for the transactional … Read more
Every successful move to Xero starts and ends with the business. Before you start your conversion it is recommended that you scope out your needs in advance so we can discuss the best service to for you. Following are some areas you could consider when you plan the move to Xero. Do you want to … Read more
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
In Xero you can use batch deposits and payments to work more efficiently and reduce manual processing. Batch deposits allow you to receive payments for multiple invoices at once. This is useful for depositing cash and cheques. Batch payments are a fast way to pay multiple bills at once. They can also be used to make wage payments … Read more
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 more
Here are the four easy steps steps for creating a pay run in Xero. 1. Prepare employee data Information about your employees and payroll history is in your payroll tab. If this is your first payrun in Xero we recommend that you check your payroll data prior to preparing the payrun. If you select the overview you will find … Read more
We have all experienced the time saving features available in Xero such as bank rules and Xero Me for employees, amongst others. Here are some neat tips and tricks to make your experience using Xero even better. Xero keyboard shortcuts These are really useful keyboard shortcuts which work not only in your browser, but also … Read more
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 of Accounts as it is in the source file and tailor later in Xero. The good news is that … Read more
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 more
If you have used Job details, Categories or Classes in your file they come across in our conversions as Tracking categories. This means that more detailed historical information is preserved for reporting and business analysis. How do I make sure the jobs/categories are coming into Xero? As long as there are less than 500 Jobs … Read more
Updated May 6, 2021 Bank Account Mapping is available with Insight and Accelerate Packages. Note that in QBO Bank Accounts may be referred to as Cash or Cash Equivalents. Standard Package Under the Standard Package we convert the chart of account based on the account type in the source file – for example: Bank Account, … 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
Updated: June 2023 In my role as Partner Engagement 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! 1. Prepare the source file There is some ‘tidy-up’ work … Read more
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 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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It is a great feeling to complete a conversion yourself. It is often difficult to wait to hand it back to the client and get them started in Xero. However, it is really good to run a final check that makes sure that the conversion is really 100% as it was in the old system.
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