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Just started on Xero?

It can be really daunting to set up your Xero account and then wonder what to do next.

Here is our 10 step checklist that will walk you through your initial setup and check that your Xero account set up has been completed properly.

 10 Things You MUST Do when you set up your Xero account

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# Action  Check
1 Watch the getting started with Xero video – you’ll find it in the top right corner of the Xero dashboard


 2 Set up your bank account feeds to supercharge your bank reconciliation
(Don’t forget credit card and PayPal accounts if you have them) here’s the Xero video that shows you how to do this –
 3 Set up your organisation details:

Limited Cos – Make sure your company number is set up and registered office address, this needs to be displayed on any invoice that you may issue.

Go to Settings > General Settings > Organisation Settings to enter or update your organisation’s contact details, including:

  • Physical address
  • Registered address
  • Phone and fax numbers
  • Email
  • Website
  • Skype
  • LinkedIn
  • Twitter
  • Facebook
  • Google+
4 Set up your financial settings:

Go to Settings > General Settings > Financial Settings   to enter your company details:

  • financial year end – this will ensure your report are picking up the correct period end
  • Vat Details  – Vat scheme ( accrual, cash or flate rate), VAT period and VAT number
5 Add users:

Go to Settings > General Settings > Financial Settings – let your accountant, bookkeeper or others log in and help with the setup. A help video on this page will tell you a little about the types of user roles available to your users.

6 Add branding – set up your sales invoices with your logo, contract and terms of payment. You can set up multiple branding schemes if you wish.

Go to Settings > General Settings > Invoice Settings

7 Add payment services – an extension to Action 6. Link to any payment services that you have activated – PayPal, Stripe etc. The more options you have for accepting payment from clients – the sooner you are likely to get paid. A help video on this page will explain how setting up at least one payment service will allow you to set up a Pay Now button on your invoices.

Go to Settings > General Settings > Invoice Settings >> Payment Services

8 Getting paid quickly is crucial for any business so set up payment reminders and basic credit control from the get go.

Go to Settings > General Settings > Invoice Settings >> Invoice Reminders

Payment reminders should only be set up when you are reconciling your customer receipts daily. The last thing you want to do is chase a customer for payment, when they have already paid!  You can come back to this step later once you are in the routine of daily reconciliation of receipts.

9 Understand how the basic Xero reports work. The first ones to take a look at, when you have some data in of course – are the Profit And Loss, Aged Receivables, Aged Payables and the Balance Sheet.

Go to Reports > All Reports to see the options available to you

10 If you have staff, start setting up your payroll on Xero. The payroll overview will take you through each of the steps you need to complete to set up Xero payroll. make sure you do this in plenty of time to run your first payroll and if you are transferring payroll from another system mid-year – don’t forget to add the opening balances.

Go to Payroll > Payroll Overview 

And finally… ask your accountant to check your set up. They many need to add year end conversion balances for you and make sure your year to date figures are as expected.

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