Setting up an Organisation in Xero

Introduction

Xero is a cloud-based accounting software. That is used by the small and medium sized businesses. It is designed to streamline accounting processes by providing the tool for invoicing, Expense tracking, Inventory management, and bank reconciliation and more. As we have discussed that xero is a cloud-based accounting software so there is no need to download or install the programs.

Xero allow any business owner to setup their organization. Whether they are small business owners, medium sized or large because xero provide affordable pricing plan with variety of features which we will discuss further in detail.

Setting up an organisation in Xero

Setting up an organisation in Xero is an easier process and doesn’t require much but few steps only.

Step 1: Activate Your Xero Account

First of all, you have to activate your Xero account by using your email.

To activate your xero account visit xero.com and click on the green “try xero for free” button to avail xero free trail which is valid for 30 days with complete feature.

Now Enter you name email address, location, Phone number and then click confirm. You will receive a Confirmation email and after verification your account will be  activated. 

once you have used the free trail you will be familiar with the software. And now you can buy xero subscription for your business which comes with three different pricing plans according to business nature.

Step 2: Business Details

Now you have activated your account and can easily setup your business on xero. you have to enter your business detail which includes:

• Your business name
• Nature of your business( this means what your business does.)
• Your country details
• Employees details
• Now, select last day of your financial year.

          This differs from Organization  to Organization. Many Companies have their last day of financial year on 31 December and some              have on 30 June Usually. So, you have to enter it according to your business country.

• Lastly select your base currency.

          Xero automatically picks currency according to your region always be careful while selecting your base currency because it can                not be changed once selected. 

After providing all your business detail click on buy or start free trail in this way you will add your xero organization.  

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Step 3: Organisation Details

After setting up your organization now you have to do some basic settings.

You have to add organization details which includes:

• Company logo
• Company name
• Basic financial setting 
• Your company address
• Conversion date

          Note: Conversion date is the date from when you started processing transactions in xero. It’s usually the date you start using Xero.

Note: Conversion date is the date from when you started processing transactions in xero. It’s usually the date you start using Xero.

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Features of Xero Accounting Software

Xero comes with a lot of features which makes your business accounting much easier and more efficient. Most prominent feature of xero accounting software are

• Ease of use
• Automation (Xero automate multiple task such as bank reconciliation and Invoice generation).
• Integration (xero integrate with multiple third-party app to reduce user workload).
• Security (Xero prioritize data security or your sensitive financial information).
• Reporting and analysis (Xero enable its user to generate detailed financial reports).
• Scalability (Xero is suitable for small businesses as well as large enterprises).
• Pricing ( Xero is more price efficient as compared with other software with same features).