Creating/editing Chart of Accounts in Xero

Initially in Xero when we edit our entity profile, it gives auto-build some accounts populates according to nature of business. We can edit it later according to our business needs.

Step#1 On Accounting tab go to the advance and clicks the chart of accounts option.

Step#2

We can add new account. We can also delete any account but again Xero will not permanently delete it but that account will move into archive. We can add our bank account here. we can import or export files and we can get the print of these accounts all possible options are given and we can use.

Some accounts which are build-in by the software we can not delete them because these are core accounts on which accounting system is based. A lock sign is appears with these accounts as shows in below example.  

Creating/editing Customer & Vendors In Xero

 In Xero when we want to add contact it has a separate tab is available.

Here are the following steps how we can add any contact in Xero. 

Step#1

Step#2 

When we create any contact it will not segregate either it is customer or vendor until we record any transaction either we offer services or hire services. purpose of the contact list is to update the list of persons or firms with whom we will interact for business purposes. So, it will equally treat as a contact before transaction. 

Step#3 

Add the necessary information of customer and save it. later on when the contact is generated you can edit it.

Step#4 We can add separately vender details and customers too. we can also import excel file from system to add number of customer/vendors for time saving. Similarly we can share list of our contacts by exporting tab. 

Step#4 

Xero never be deleted any contact. Lets say an old customer in our contact list and this list is become much long due to many other old customer with whom we are not dealing from long period of time. Or sometimes we omitted and creates wrong contact.  These are useless for this time we can merge all of them and send into archive.

We can also create special group of contacts for example we have a group of customers/vendor of similar company just sake of identification and simplicity we treat as a group and we can go into group we will find similar customers/vendor in that group. We will not waste time for searching out in all contacts.

Creating a group have many benefits like, we can check sales pattern, send e-mails and it build automatically for data base for further uses.

These are simple steps by which we can create contacts. 

Xero Bookkeeping Online Part1

Xero is cloud based accounting software which is used for bookkeeping in small and medium size firms.

In this blog I will guide you about perfectly clear and step by step instructions and how to navigate each part of Xero. This blog will help you and teach you about every common transaction type that can be entered into Xero. I will also show the whole process of manage and customize the most important reports in Xero.

This blog will help in a way you will be able how to record entries in Xero. So get in touch and seek to next blog and explore the details with step by step. 

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How to create item listing in Quick Books?

 It is very simple way to add item in your list by following these steps which are given below: 

Step#1 select the sales tab. Next press the products and suppliers.

Step#2 Press the new tab to add new product. or you can edit existing product description in given list. 

Step#3 A new interface will appear chose best one which is suit able according to your nature of business.

Step#4

How to create vender, customer and edit existing one ?

 These are the following basic steps about customers and vendor edit or add new one.

Step#1

Step #2 

We can include on display list relevant information by selecting these options.

Step# 3

we can add new one customer by following steps.

Step#4 When you click add new this interface will be show. put customer detail, name address, email, tax information and so on.

How to add or edit vendor/supplier?

select the expense tab on navigation and then click suppliers. same rule as we edit or create new customer list. Supplier also add or edit information of existing supplier. 

What is Chart of Accounts? How to Create Chart of Accounts?

 

Chart of accounts is simply the list of accounts of an entity. Here are some steps to create chart of accounts.

Step#1

Or

Step#2

How to Inactive Any Account

 

Note* every account is not able to delete in chart of accounts. Because some basic accounts never be deleted in system. We can create a separate account but never be remove because system never support.  This is manual way to create chart of accounts but we can import the excel file for creation of chart of accounts. Nevertheless, this is the common way to add or delete any account.

How to add an account?

Step#3

Step#4

Note* Always first select account type after that detail type and so on. But whatever the name of account we must know the nature of account either it is expense, asset, income etc. While generating the account sequence must be follow, otherwise our account name will not as we decided.  

How to view inactive accounts?

Step#5

Note* when you inactive accounts and you wanted to again active in list. Go to setting option and select this.

Step#6

Just simply click this option and again add into the list.