by Peter McCarroll | Jan 3, 2020 | Bookkeeping, Xero
We have lots of clients who do their own bookkeeping in Xero. Here are our Best Practices for managing your own bookkeeping: Keep your personal transactions out of the business bank account. If you need to spend on something personal transfer funds to your personal... 
by Peter McCarroll | Nov 14, 2015 | Uncategorized
Xero does not have any tagging or flagging system that would allow you to identify a transaction that has been coded but still needs some follow-up action or investigation. However, you can simulate this using Tracking Categories. Xero provide two Tracking... 
by Peter McCarroll | Apr 15, 2015 | Xero
Xero has a “secret” transaction type (two – in fact) that many users aren’t aware of, and those that do often mis-use. It’s called “Prepayment” and “Overpayment”. These transaction types are actually variations of the standard Spend/Receive Money bank transaction but... 
by Peter McCarroll | Apr 15, 2015 | Xero
A “Buyer Created Tax Invoice” (sometimes referred to in other countries as a “Recipient Created Tax Invoice” or “RCTI”) is an invoice for sales tax purposes that is created by the purchaser of the goods rather than the seller of the goods. This is common in many... 
by Peter McCarroll | Feb 19, 2015 | Xero, Accounting, Bookkeeping
This article is re-posted from the xero.com blog. I’m not a huge fan of the Super Bowl, but I love seeing the ads. They’re always the highlight of the whole event for a lot of people. This year there was a great ad by BMW that showed a clip of two TODAY show...