Which Xero GST Tax Rate to Use for the Stamp Duty Part of an Asset Purchase

Which Xero GST Tax Rate to Use for the Stamp Duty Part of an Asset Purchase

Have you purchased an asset for your business and you are wondering how GST works on the stamp duty you’ve paid? And are you wondering how to account for the transaction in Xero so the correct information flows through to your BAS return? Because stamp duty is outside of GST law, you need to make…

How to Report GST in Your Xero BAS Returns on Gift Cards and Vouchers for Employees

How to Report GST in Your Xero BAS Returns on Gift Cards and Vouchers for Employees

If you give gift cards or vouchers to your employees as a reward for their hard work, you may be wondering how to properly account for the GST in Xero. Well, it’s easier than you may think! Buying a gift card and giving it to an employee is different to buying them a physical gift….

Xero Payroll – How to Adjust Annual, Sick and Other Leave Balances

Xero Payroll – How to Adjust Annual, Sick and Other Leave Balances

When an employee goes on leave, they should enter a leave request in Xero for the number of working hours they will be away. Once you approve the request and run the payroll for that period, your employee’s accrued leave balance will reduce by the number of approved leave hours. If you do not follow those…

Xero Invoices – How to Create a Repeating Sales Invoice

Xero Invoices – How to Create a Repeating Sales Invoice

If you charge customers on a regular basis, you can save time by setting up repeating invoices in Xero instead of creating each invoice from scratch. Check out our video tutorial in which we use Xero’s demo company to create a repeating sales invoice template that will automatically generate invoices whenever they are due to…

Xero – How to Access and Reset the Demo Company

Xero – How to Access and Reset the Demo Company

The Xero demo company is a great way to practice using the system without affecting the accounts of your real business. The demo company contains dummy data that you can use to practice any bookkeeping tasks you like including payroll, fixed assets maintenance, bank reconciliations and much more. Once you have finished practising your bookkeeping…