Xero Conversion: Set up guide

Pre-start

1. Business legal name & associated registration and tax references

2. Financial year end for your organisation.

3. Logo, payment terms and a starting point for your invoice/credit note numbering sequence

4. Email address of your accountant or bookkeeper

5. Your chart of accounts or a list of categories to organise your accounts by (for example, Rent, Stationery, Sales)

6. Your bank and credit card account numbers for accounts you want to set up in Xero

7. Conversion date – The date you want to start using Xero for your day to day business.

Tips for choosing a conversion date  

Xero Conversion: Set up guideConversion dates in Xero start on the 1st of a month. The month you choose will depend on how you currently manage your accounts and what data you want to bring across. We suggest you choose:

  • the month your current VAT period starts from, if you’re VAT registered, or
  • the current month, if you aren’t VAT registered.

You can choose a conversion date:

  • in the future, if you want to get Xero set up before you start using it
  • in the past, if you want to recreate your account back to then
  • that’s different to the start of your financial year.

As at the day before your Xero conversion date, you’ll need

  • account balances
  • individual unpaid invoices, bills and credit notes
  • uncleared funds.

As far back as your conversion date, you’ll need:

  • existing invoices and bills
  • bank account statements to import into Xero.
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    8. Account balances
    If you have balances to enter into Xero its ideal (bit not critical) to get them right at the start.

    9. Outstanding invoices, bills, credit notes and uncleared funds
    You may have outstanding invoices and credit notes from your previous accounting system. Use these to work out the amount owed to you and that you owe from your conversion date.

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