AdvisorCorp

Xero Setup And Support

Since 2012 we have been working with Xero as a partner to offers a cloud-based accounting software platform to small and medium-sized businesses.

Advantages of using accounting software

Accounting software can help you save time and money, and offer you valuable insight into your business. It can do so by:
  • simplifying data entry – inputting data is fast, straightforward and only needs to be carried out once
  • speeding up processes – eg. reducing delays between making a sale and generating an invoice
  • automating reports and analysis – on profit and loss, debtors and creditors, customer accounts, inventory counts, sales, forecasting, etc
  • automating tasks – such as calculating pay, producing payslips, automatically calculating BAS, etc
  • reducing errors – by computerising calculations that would have historically been done manually

How to setup Xero

Chart of Accounts

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Bank Feed Setup

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Conversion Balance

Recording correct conversion balance is a vital step of the Xero setup. You only need to add conversion balance if you are moving your recordkeeping from another software. 


Generally, a new business is not required to add a conversion balance.

Payroll Setup

Xero enables you to record employee timesheets and calculate regular payroll. To get started, add employee details and set up an employee card taking into account the employment contract, TFN declaration form and Super Choice form


Consult our accountant or bookkeeper if you need help setting up payroll correctly.

Payment service

Get paid faster with a payment service. Research different payment services in the Xero App Marketplace and find the right one for your business.

Invite a new user

Add a new user or your accountant to your organisation, free of charge. 
The invited user is sent an invite that they need to accept or decline. The invite expires after 14 days, but you can resend it

Dashboard Watchlist

View key account balances in Xero by adding these to Dashboard. 

Single Touch Payroll

Single Touch Payroll (STP) is a new way of reporting tax and super information to the ATO.


Read more.

Loan Accounts

You can set up a loan as a bank account or as a non-current liability. 


Consult our accountant or bookkeeper if you need to split loan payments into interest and principal components.

Fixed Asset Register

Track business assets to manage their depreciation and disposals. To get started, create a fixed asset register to record and calculate accounting depreciation on your assets. If you also want to calculate tax depreciation, you can turn on your tax reporting start date. You can then create pools to group fixed assets for tax purposes and depreciate them as if they were a single asset.

New to Xero? Talk to our Xero Certified Advisor 

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