Xero For Dummies (For Dummies (Business & Personal Finance))

Title Page
Copyright Page
Table of Contents
Foreword
Introduction
	About This Book
	Foolish Assumptions
	Icons Used in This Book
	Beyond the Book
	Where to Go from Here
Part 1 Getting Started with Xero
	Chapter 1 Getting to Know Xero
		Understanding the Advantages of Xero
		Exploring Xero’s Different Editions
		Homepage: Checking Out the Dashboard
		Understanding Your Team’s Needs
		Integrating Xero into Your Strategic Planning
			Generating accurate, complete and timely data entry
			Introducing Management Reporting and the analysis capabilities of Xero
		Taking Advantage of Support Options
		Using Xero in a Training Environment
	Chapter 2 Getting Organised: Setting Up Xero from Scratch
		Preparing for Set-Up
			Checking your browser and system requirements
			Collecting your business data
		Signing Up for Xero
			Getting started
			Organisation Settings
			Financial Settings
		Understanding Bookkeeping Basics
			Working out how account types affect your reports
			Creating a chart of accounts that works for you
			Developing your own chart of accounts
		Setting Up Your Chart of Accounts
			Using Xero’s default Chart of Accounts
			Customising your chart of accounts
		Putting Your Accounts into Practice
			Checking your conversion balances
			Adding comparative balances
			Entering historical invoices, bills and credit notes
		Adding Ways to Get Paid
			Setting up bank accounts
			Including credit cards
			Online payment options
		Tax Rates
	Chapter 3 Converting to Xero from Another System
		Preparing to Import Data from a Non-Accounting Program
			Converting paper-based records
			Working with spreadsheets
		Getting Ready to Convert from an Accounting Program
			Getting ready to convert
			Converting exported CSV files into Excel
			Preparing data for import
			Mapping tax rates
		Importing Data into Xero
			Chart of accounts
			Contacts
			Inventory items
			Sales
			Purchases
			Bank transactions
			Manual journals
			Fixed assets
			Unpresented payments or uncleared funds
		Turning Off Your Old System
			Accessing historical data
			Moving to the new system
			Confirming the switchover date
	Chapter 4 Fine-tuning Your Set-Up
		Tools of the Trade: Understanding the Dashboard
			Xero balance versus bank balance
			Account Watchlist
			Invoices Owed to You
			Bills You Need to Pay
			Dealing with expense claims
		Setting Up Users
			Understanding user access levels
			Inviting other users to access Xero
		Taking Advantage of Live Bank Feeds
			Activating live bank feeds
			Organising bank accounts on your dashboard
			Managing bank feeds
		Manually Importing Statements
		Bank Rules
			Setting up bank rules
			Managing bank rules
		Using File Storage and the Xero Inbox
Part 2 Daily Activities
	Chapter 5 Managing Your Contacts
		Setting Up Customers
		Setting Up Suppliers
		Connecting Your Email Account to Your Contacts
		Tweaking Your Contacts after Set-Up
			Finding your contacts
			Managing your contacts
			Grouping your contacts
			Merging your contacts
			Unpicking accidentally merged contacts
			Archiving your outdated contacts
		Setting Up Employees
		Utilising Smart Lists CRM functionality
	Chapter 6 Managing Your Sales
		Navigating the Sales Dashboard
			Money Coming In
			Customers Owing the Most — list
			Customers Owing the Most — pie chart
		Mastering Basic Invoice Functions
			Creating a new sales invoice
			Saving, approving and cancelling invoices
			Sending an invoice to a customer
		Mastering More Advanced Invoice Functions
			Designing clear invoices for a positive cash flow
			Working with repeating invoices
			Invoicing contact groups
			Managing credit notes
			Creating a new quote
		Recording Payments
			Receipting against sales invoices
			Sending receipts
			Recording income for a simple cash business
			Making use of batch payments
			Removing allocated payments
		Taking Advantage of Email Templates
			Defining your user email addresses
			Creating a new email template
			Deleting customised templates
			Connecting with contacts via social media
		Following Up on Outstanding Debtors
			Setting up invoice reminders
			Making use of statements
	Chapter 7 Managing Your Payables
		Navigating the Purchases Dashboard
		Managing Your Supplier Bills
			Creating a new bill
			Approving and cancelling bills
			Generating a purchase order
		Making Payments
			Recording an individual payment
			Recording batch payments
			Removing allocated payments
		Mastering Other Payment Considerations
			Printing bills
			Working with Repeating Bills
			Scheduling payments
			Stylising your check
			Sending remittance advice
			Managing credit notes
		Entering Expense Claims
			Adding a new expense claim
			Making mobile expense claims
			Submitting a claim for approval
			Reviewing and authorising the claim
			Paying the claim
		Understanding Xero Expenses Functionality
			Defining Xero Expense Settings
			Adding a new expense claim in Xero Expenses
			Making mobile expense claims in Xero Expenses
			Submitting a claim for approval in Xero Expenses
			Reviewing and authorising the claim in Xero Expenses
			Paying the claim in Xero Expenses
	Chapter 8 Reconciling Your Bank Accounts
		Preparing to Reconcile
		Automagically Reconciling Accounts
			Understanding the hierarchy for matching
			Accepting transactions Xero has matched correctly
		Tweaking Transactions to Reconcile
			Matching misfit transactions
			Create
			Transfer
			Discuss
			Reviewing other possible matches
		Taking Advantage of Cash Coding
			Getting familiar with Cash Coding
			Understanding bulk coding
		Viewing Bank Statements
		Viewing Account Transactions
		Using the Spend Money and Receive Money Options
			Direct payment
			Prepayment
			Overpayment
			Underpayment
			Processing prepayments and overpayments
			Searching for a transaction
		Fixing Errors
			Resolving the difference between Xero balances and bank balances
			Undertaking detailed searches to find and recode transactions
			Unreconciling a bank transaction
			Removing and undoing a bank transaction
		What Happens in Life Happens in Xero
Part III Making the Routine, Routine
	Chapter 9 Generating Reports
		Understanding the Reports Available in Xero
			Accessing Xero’s business reports
			Selecting your favourite reports
			Sorting and filtering
		Customising Reports
			Customising report layouts
			Adding reporting ‘bling’: Summaries and footnotes
			Changing views
		Understanding Xero’s Different Reporting Options
			Draft
			Published
			Connecting reports
			Archived
		Exporting Reports
		Accessing Management Reports
	Chapter 10 Mastering Your Weekly and Monthly Tasks
		Confirming Accounts are Complete
		Reconciling Bank Accounts, Credit Card and Online Payment Gateway Accounts
		Reconciling Your Clearing Accounts
		Reconciling Your Consumer Tax Control Account
		Reviewing Your Business Information
			General Ledger Exceptions report
			Invoicing
			Aged Receivables
			Aged Payables
		Reporting to Your Tax Authority
			Australian reporting
			New Zealand reporting
			US reporting
			UK reporting
			Recording payments to your tax authority
		Taking Advantage of Xero’s Budget Functions
			Creating a budget
			Reviewing and editing your budget
		Setting a Period Lock Date
	Chapter 11 End of Financial Year Reporting
		Getting Ready for the End of the Financial Year
			Finding out where you’re at
			Being prepared early
			Reconciling tax payments for the year
			Processing a bad debt
		Preparing Accounts for Your Tax Accountant
		Helping with Tax Accountant Tasks
			Enabling your tax accountant to work directly in Xero
			Exporting general ledger transactions
			Entering manual journals
		Special Considerations
			Publishing end-of-year reports
			Locking down accounts
Part IV Getting the Most Out of Xero
	Chapter 12 Monitoring Your Business
		Identifying Key Metrics
			Using Xero to set realistic targets and strategies
			Setting KPIs and rewarding success
			Reviewing your business strategy
		Generating Useful Information
			Taking advantage of management reports
			Delving deeper into the Executive Summary report
			Assessing your performance
			Evaluating your position
			Unpicking the details
			Customising the Management Report
			Unravelling the Business Performance dashboard
		Understanding Xero’s Tracking Options
			Using Tracking
			Working out what your business should track
			Setting up Tracking
			Editing, deleting and applying Tracking options
			Reviewing Tracking reports
			Tracking conversion balances
		Maintaining Budget Control: Budget Manager
		Exploring Xero Projects
			Defining Project Settings
			Adding a new Project
			Adding a Project Task
			Adding a Project Expense
			Recording a Time Entry
			Raising a Deposit Invoice for a Project
			Invoicing billable Tasks & Expenses
			Raising a Project Invoice
			Tracking Project time entries from your mobile device
			Project reporting
	Chapter 13 Managing Your Inventory Items
		Understanding Inventory Items
			Periodic and perpetual inventory
			Defining inventory accounts
		Setting Up a Xero Inventory Item
			Creating inventory items
			Importing and exporting item details and importing opening balances
		Managing Inventory Items
			Making use of inventory items reports
			Searching for and reviewing inventory items
			Editing and deleting inventory items
		Adjusting Inventory Balances
			Periodic stocktakes
			Adjusting untracked inventory values
			Adjusting tracked inventory quantities
			Adjusting tracked inventory values
		Accessing Cloud-Based App Solutions
	Chapter 14 Working with Fixed Assets
		Recognising Fixed Assets
			Entering a fixed asset into the register
			Dealing with depreciation
			Tax reporting and asset pooling
			Selling or removing a fixed asset from the register
		Accessing Fixed Asset Reports
	Chapter 15 Working with Multi-Currency Transactions
		Setting Up Multi-Currency in Xero
			Upgrading your Xero plan
			Adding currencies to Xero
		Processing Multi-Currency Transactions in Xero
			Understanding tax rates
			Working with foreign currency exchange rates
			Creating a foreign currency invoice
			Purchasing in a foreign currency
		Conversion Balances and Multi-Currency Bank Accounts
		Viewing Reports in Foreign Currency
	Chapter 16 Exploring the Xero Marketplace
		Working with Xero to Xero Networks
		Understanding the Benefits and Risks of Cloud App Solutions
			Ascertaining implementation costs
			Working out if the solution is right for you
			Looking at longevity
			Checking response times
			Understanding intellectual property security
		Making Use of Online Cloud Integration Specialists
		Getting a Feel for Available Solutions
			Connectors
			CRMs
			Debtor tracking
			e-commerce
			Bills and expenses
			Inventory
			Job tracking
			Payments
			Documents
			Payroll
			Point of sale
			Financial services
			Time tracking
			Reporting
		Looking at Custom Integration
Part V The Part of Tens
	Chapter 17 Ten (Plus One!) Tips for Long-Term Success with Xero
		Embrace the Cloud
		Make Use of Networking Technology
		Export Data to Create Graphs
		Set up Bank Feeds and Reconcile Regularly
		Use the Batch Payments Feature
		Keep Bank Accounts for Business Use
		Embrace Change
		Use Tracking to Sharpen Reporting
		Take Advantage of Repeating Bills and Invoices
		Collaborate with Your Xero Advisory Team
		Effectively Tap into Online Storage Features
	Chapter 18 Ten Common Mistakes Made in Xero and How to Avoid Them
		Not Making Use of Expert Help
		Not Understanding Terminology Differences
		Messing Up Bank Reconciliation Autosuggestions
		Using a Communal User Account
		Not Deleting Old User Accounts
		Thinking Your Xero Emails Are Stored
		Not Realising the Subscriber Owns and Controls the Data
		Trying to Make Xero Do What Your Old System Did
		Watching Your Bank Feeds Refresh
		Paying Full Price If You’re a NFP
Index
EULA