Efficient Accounting with Xero

Maximize the capabilities of Xero to achieve timely and stress-free accounting for your businessPurchase of the print or Kindle book includes a free PDF eBookKey FeaturesBecome well-versed with the latest features of Xero to confidently manage all your bookkeeping tasks with easeMaster the use of Xero and implement best practices to avoid costly errorsLearn techniques for recording and managing financial data efficientlyBook DescriptionXero 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.What you will learnUnderstand why Xero is the best choice in accounting software for your SMBEasily set up or convert to Xero for a service- or product-based businessReconcile cash and related transactions effortlesslyTrack and depreciate capital assets purchased by and used in the businessProduce customized reports tailored to your specific needUse Xero to make informed and timely decisions and become a better business owner or advisorWho this book is forThis book is for small and medium business owners (SMBs) and bookkeepers or accountants who want to learn how to properly use and master Xero. Little to no knowledge of Xero is assumed. However, prior understanding of basic bookkeeping and accounting principles is required.