XERO ACCOUNTING SOFTWARE
If you have new account or when you are importing data from another accounting system, I can help you set up conversion balances in Xero. | It is important to ensure that the Conversion Balance is accurate, as it can affect the accuracy of your financial reports. |
I can record the details of each fixed asset, such as the purchase date, cost, depreciation method, and useful life, as well as set up automatic depreciation calculations based on your chosen depreciation method. | By maintaining a Fixed Asset Register, you can ensure that your business's financial statements accurately reflect the value of your fixed assets and the depreciation expense associated with them, hence, help you decide when to replace or upgrade your fixed asset |
I can set up a custom chart of accounts that is tailored to the needs of your business, which includes creating accounts for income, expenses, assets, liabilities and equities, import your existing chart of accounts into Xero and review your chart of accounts regularly to ensure it is up-to date and accurate. | Chart of Accounts is necessary for any business that wants to keep track of its financial transactions and stay on top of its finances. |