What Does GST-Free Mean?

What Does GST-Free Mean?

Did you know GST-free sales and purchases are actually not free from Australia’s Goods and Services Tax? A little bit confusing, hey? Don’t worry, let us break it down for you. There are many goods and services that you buy and sell that are GST-free, including milk, bread, eggs and some childcare, healthcare and educational services. They…

Xero Bank Accounts – Remove and Redo versus Unreconcile a Transaction

Xero Bank Accounts – Remove and Redo versus Unreconcile a Transaction

In Xero, there are two ways you can unmatch reconciled transactions in your bank accounts: Unreconcile Remove and Redo The main difference is that remove and redo has a bigger effect on the accounts. Let’s take a look at each of the functions before discussing which one to use in different situations. The Unreconcile Function…

Xero – Add Opening Balance to Bank Account, Credit Card, PayPal

Xero – Add Opening Balance to Bank Account, Credit Card, PayPal

After setting up a bank account, credit card or PayPal account in Xero, you may need to add the opening balance of the account before importing the transactions. There are several ways of adding an opening balance to a finance product in Xero and the method you choose depends on how the finance product was…