Xero Setup – What To Look Out For

Xero Setup

Implementing Xero into your business provides improved efficiency, when it is setup correctly. If incorrect data is imported into Xero, it can be a time consuming process cleaning up unnecessary data. Below are some tips to assist you in setting up your Xero file efficiently and accurately.

Clean up old accounting data

If your current MYOB file is messy with incorrect data, delete this data prior to importing it into your new Xero file. It is much more efficient to delete this now than having to fix up previous errors. This can include unnecessary and messy chart of accounts; as well as contact information.

Check your debtors are up to date

Prior to importing your debtors into your new Xero file, it is recommended to review your client’s accounts to ensure that the balances are correct and up to date. If invoice receipts are omitted, your new accounting file will contain errors and it might be difficult to reconcile your bank accounts.

Choose a start date

It is best to begin your new Xero file at the beginning of a quarter for BAS reporting purposes. This makes it a more seamless process than having to jump from two accounting files for your first BAS lodgement. If this is not possible, preferably begin your new file at the start of the month.

Ensure your GST codes are correct

The most important tasks in setting up your file is ensuring your GST coding is correct for all your transactions. This includes default GST codes for your chart of accounts and your bank rules that you setup in Xero.


If you would like your Xero file setup, feel free to talk with us about our Xero setup packages. We will be happy to assist with for easy conversion of your old data.

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8 Simple, Easy To Use, Tricks To Automate Your Bookkeeping In 90 Days