Skype, so contacts can be called via Xero (this is optional but allows you to make free or cheap phone calls — see Chapter 5 for more).
If using the Firefox browser, turn off Firebug because it can slow access.
checkup.xero.com.
Collecting your business data
You’re probably champing at the bit to start setting up your Xero file. Before you jump in, gather some data so you can easily access everything you need as you need it.
Collect all you can of the following:
Bank account details
Business logo
Business type
Chart of accounts
Conversion date and balances — the date the accounting records start from and balances at that date
Details of accounts payable and accounts receivable
Display name (this is usually just the name people use to refer to your business — see the section ‘Organisation Settings’, later in this chapter, for more)
Financial year end date
Last invoice number
Legal or trading name
Organisation type
Terms and conditions for payment
Time zone details
Table 2-1 shows the additional information you may need to gather, based on the region your business is based in.
TABLE 2-1 Additional Data Required for Set-Up by Region
| Australia | New Zealand | South Africa | United Kingdom | United States, Canada & Global |
|---|---|---|---|---|
| Australian Business Number (ABN) Branch details (optional)* Activity statement settings GST accounting method Tax File Number GST calculation PAYG withheld period PAYG income tax method Fringe Benefits Tax details Fuel tax credits details Wine Equalisation Tax details | GST basis GST period GST number | VAT basis VAT number VAT period | VAT scheme VAT period VAT registration number BAC number | Tax basis Tax ID number Tax ID display name Tax period |
* Branch details only required if you operate your business from more than one location; for example, you operate a group of shops across multiple locations.
Signing Up for Xero
Once you’ve checked your system and gathered your required information (refer to the preceding section), you’re ready to jump right in and sign up for a Xero account.
Getting started
Follow these steps to get started:
1 Go to the Xero homepage (www.xero.com) and click the Try Xero for free button.The Sign Up window appears (shown in Figure 2-1).
2 Fill in your contact details and other required fields.All contact details must be complete before proceeding. You need access to the email address you enter on Xero’s Sign Up window to complete the process, so make sure you enter the email address you can access the easiest. The Country field reflects your location. You have the opportunity to enter where the organisation pays taxes later.
3 Read the Terms of Use, Privacy Policy and, if active, the Offer Details; if you’re satisfied with them, check the box to indicate you accept them.You can access the Terms of Use by clicking the link on the Sign Up window or at www.xero.com/about/terms. You must agree to the Terms of Use before proceeding.
4 Click the Next: Confirmation button.This submits your sign-up details. Once you’ve completed the Sign Up page, you should receive an email from Xero with the subject heading ‘Confirm your email address’, with instructions to activate your account.
Here’s how to activate your account:
1 Click the ‘Yes, it’s me – let’s get started’ blue button in the email from Xero.You’re taken to the Activate Your Account window (shown in Figure 2-2).
2 Create your password.Remember to use the typical security protocols, such as combining upper and lower case letters and numbers. The password needs to be at least eight characters long and include a number. You’re required to confirm the location again at this stage.Source: Xero 2022FIGURE 2-1: The Sign Up window. Source: Xero 2022FIGURE 2-2: The Create a Password window.
3 Click the blue Activate Your Account button.You’re taken through to the Add Your Business window (see Figure 2-3). (If you are using the global edition of Xero, this window may look a little different.) Here you can set up your first organisation in Xero. Enter the commonly used name of your business.
4 Enter the type of business you’re operating in the Industry field.Completing this field is optional and will not change anything within the structure of the file. As you start to enter your business type, the field suggests options, which you can override if you need to.
5 Select the country
