Xero Set Up
Have you just started your business or you have been operating for years? Possibly trying to move from another accounting software? No problem, we can help you set up your Xero accounts in both cases. Normally we can do it in 1-2 weeks.
Please see below what information we need. Your bookkeeper or accountant should be able to provide these. 
If not, please contact us and we might have some solution. 
  • When is the company's financial year end?
  • Is the company VAT registered? (In some countries called sales tax or GST)
  • If yes, is it on a cash or accruals basis? Usually, it is accruals.
  • When is the company's VAT quarter?
  • What is the company's VAT registration number?
  • Shall we use the pre-set Chart of Accounts already available in Xero (recommended) or will you provide us with one?
  • List of your bank accounts, their currency, sort code and account number. Sort code and account number is required for setting up bank feeds.
If your company had transactions prior to your Xero account start date:

Please provide us with the following closing balances for the date prior.

(If this date is in the future, please provide these once your year end has been closed).

  • Trial Balance (TB)
  • Bank Statements reflecting your bank balances (these should agree to the bank balances on the TB)
  • Foreign currency exchange rates - that were used to convert your bank balances - if any
  • Contact List - List of your Customers and Suppliers you would like to have in Xero
  • Aged Receivables Report - List of all your outstanding sales invoices (this should agree to the Aged Receivables figure - also called Trade Debtors - on your TB)
  • Aged Payables Report - List of all your outstanding purchase bills (this should agree to the Aged Payables figure - also called Trade Creditors - on your TB)
  • Fixed Assets Register - List of all your fixed assets and their value after depreciation.
Xero Set Up starts at £250+VAT
Comes with complimentary online Xero training (worth £499)!

© 2019 Booksfizz Ltd. All Rights Reserved.    Privacy Policy | Contact Us

  • Twitter