The NJN 10 Step Guide to Xero Setup

You don’t have to be Sherlock Holmes to figure out that we are huge fans of Xero here at Not Just Numbers. It is a beautiful accounting tool that will completely transform your accounts, and make your bookkeeping to-do lists infinitely simpler.

Integrating your accounts with Xero should be a match made in heaven, however to unlock the power of this software it is vital that you take the time to set it up properly.

So we’ve put together The NJN 10 Step Guide to Xero Setup to help get your business up and running with Xero as quick and pain free as possible.

1. Collect Your Info
To ensure Xero can run at it’s full potential you will need to give it a number of bits of information from your current accounting system (if you’re unsure where to get this from, drop us an email). This includes things like account numbers, bank balances and VAT info ( see full list here )

2. Input Organisation Settings
Now, you need to update your contact info, display settings and start to build your public profile. Don’t worry, you can keep it private if you’d prefer however there are a number of perks to making your profile public – including allowing your staff to promote your company on their user profiles and enabling you to add your organisation details to the footer of invoices.

3. Set Up Your Financial Details
Inputting your organisations financial details correctly is vital to make sure Xero can produce your reports, invoices and bills accurately. This includes everything from choosing your VAT period to setting a time zone.

4. Define Your Invoice Settings
Xero gives you huge flexibility in creating your invoices: alter your invoice, quote and purchase order numbering, change payment terms and determine the appearance of everything from invoices to purchase orders. Custom invoices can be set up using your companies full branding guidelines – rather than just a logo  (this is the stage where you can make everything pretty).

5. Invite Users
Xero allows you to add your staff, accountant or bookkeepers to your organisations account, and lets you select the level of access that they have.
*We suggest you assign your accountant or bookkeeper the ‘Advisor’ user role*

6. Foreign Currency Options
Need to send invoices, quotes or purchase orders internationally? Xero allows you to choose the ‘multi-currency option’ which allows you to carry out all of the normal functions of Xero (apart from expense claims) in currencies other than your own.

7. Set up your Fixed Asset Register
By setting up your fixed asset register, depreciation can be run by the click of a button each month ensuring even more accurate management information.

8. Configure your Emails
Let your companies personality shine through! Personalise the emails that accompany your invoices, statements etc. to ensure your accounting system is as individual as you are.

9. Set up a Tracker
This nifty little tool enables you to record information about different areas of your business. For example, if you want to track the fees your employees earn, you can set a category for employees, then track each invoice and cost. There is also a handy option on your profit and loss to switch by category and to allow you to report your P & L by employee.

10. Choose a Chart of Accounts
This is the important bit. The foundation of your new accounts system. You can choose to use Xero’s default chart of accounts, or import an external file containing your full list of accounts. We will look at your business individually and create a chart of accounts that suits your business and ensures the information represents your business. e.g. setting separate codes for different income streams so you can identify your best selling services/products etc

And finally… Set The Date!
Finally, you need to set your conversion date. This is that date you’ve chosen to start entering your day-to-day transactions into Xero. The beginning of your new life with Xero. A beautiful day. We suggest you throw a party in celebration.

And that’s that! It really is worth setting the time aside to do this properly and thoroughly – it will pay you back in time 10-fold once set up! 

If you need any help in setting up your Xero account, or would like to find out a bit more about how Xero could transform your business, give us a call on 0113 385 4656 or email


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Not Just Numbers Ltd
5 Carrwood Park
Selby Road
LS15 4LG