7 Easy Steps To Use Xero Accounting Software

Are you a beginner on Xero?  You must be perplexed about how to use Xero and wondering how to set up your Xero account? Follow these seven easy steps to set up your Xero account.

7 steps to use Xero accounting software

1. Watch the Getting Started Video  

Go to the top left corner of the Xero dashboard, and you will find a getting started video on Xero. 

Watch the Getting Started Video

2. Connect a Bank Account

Your bank and Xero work together to import your bank statements over a secured network. To add your bank account go to Accounting> Bank Accounts > Add Bank Account.

Connect a Bank Account

3. Set up Your Company Details 

If you are running a limited company, your company’s official number and registered address need to be displayed on every invoice. 


To enter or update your company’s contact details, click on your Business Name>Settings> General Settings> Organisation Settings.

Set up Your Company Details


4. Set up Financial Settings

To enter your financial details go to Accounting > Advanced > Financial Settings

Financial Year End- This section declares the annual closing date of your business.

Sales Tax-  This section declares the tax scheme of your business, e.g., Cash or Accrual, Tax ID, Tax Display Name, Tax Period.

Set up Financial Settings

5. Add a User

Add a user and let your accountant, bookkeeper, and other employees help you with your accounting software. You can set customize permissions for individual users.

To add a user click on your Business Name>Settings>Users>Invite a user

Add a User


6. Add Payment Services

Add payment services to accept payment from clients. The more payment options you have to receive payment, the easier for customers to pay your bill. To add payment services, click your Business Name>Settings>Payment services>Add other.


7. Set up the Chart of Accounts

Categorise your business transactions with Chart of Accounts in Xero. 

To set up your Chart of Accounts, go to Accounting>Advanced>Chart of accounts.

Finally, ask your professional accountant to check the setup. Make sure your conversion balance and date figures are as expected. 

To learn more about bookkeeping and accounting, take a course from Alpha Academy.

Alpha Academy offers the following courses on Accounting and Bookkeeping

So your journey to becoming an accounting professional is just a click away! What are you waiting for? Enrol in a course today and start your journey to success with Alpha Academy.

January 13, 2021

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