News & Advice
How to reconcile a partial refund in Xero
How to reconcile where an invoice has been issued and payment received and reconciled – then at a later date a partial credit is given on the invoice and a cash refund made.
5 signs of a healthy financial system in your small business
I work with a lot of businesses. Every day I’m working with small business to help them find the best ways to optimise their software. It’s not rocket science, we are talking pretty much Xero,…
Stripe and Xero: Should You Use Stripe for Payments from Your International Clients?
Many NZ businesses are using or considering using Stripe as an option for receiving payments from overseas clients. Here are some suggestions from our experience integrating Stripe with Xero.…
Using Xero Inventory for the Management of Raw Materials
Inventory is a feature of Xero at no additional cost, and can be suitable for smaller businesses who need stock control but cannot justify the expense and complexity of a 3rd party stock control…
What is the Difference Between Holiday Pay and Annual Leave?
In NZ employees are entitled to Annual Leave after 12 months employment and every 12 months after that, while Holiday Pay generally accrues as 8% of gross pay in $ every pay period. Up until the…
Reconciling wages in Xero: why are Wages showing too high in Xero Payroll?
If your Wages/Salaries Expense in your P and L is around twice as high as you are expecting, this is likely a coding error. When reconciling the bank statement line/s of wages being paid to employees,…
A Xero Solution for Manufacturers: Xero + CRM + Inventory
This is an example of how we have set up Xero for a particular set of requirements of a manufacturing client. THE PROBLEM Mr Manufacturer buys in components and assembles them into…
Xero Setup/Migration Checklist
Following are some guidelines if you are setting up Xero for the first time, or migrating from another system to Xero. Versions of Xero There are different versions of Xero, some of which are only…
Reconciling Shopify Payments
We recently streamlined the sales income process for a small retail online business here in NZ. I thought I would share learnings and tips as this situation and these issues are common. The client…
Bookkeepers and Accountants: How to use both to best effect
Recent research carried out by Xero suggests that strong relationships with a professional advisor benefits the business. This includes accountants and bookkeepers. Business that survive being in…
Time to Throw Out Your Filing Cabinet
Still got piles of paper, archive boxes and filing cabinets filling up space that could be better used? The good news is, even if it seems overwhelming to scan and archive all that stuff already…