Reviewer s Guide. Beautiful accounting software. Xero is the world s leading online accounting solution.

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1 Beautiful accounting software Reviewer s Guide Xero is the world s leading online accounting solution. Use this guide to understand Xero s key features and how its online accounting software helps small businesses become more successful.

2 XERO REVIEWER S GUIDE 2 ABOUT THIS GUIDE The Xero Reviewer s Guide provides a comprehensive overview of Xero, with the intention of helping reviewers of our software obtain an end-to-end overview of the software and its capabilities. This guide has been designed to be read on your screen. In addition to describing the features, we ve included links to online resources that may be useful to help understand how Xero meets the financial accounting needs of small businesses. This guide contains: Information on Xero and our approach to solving the needs of small business. An overview of key features in Xero and how these benefit small businesses. Information and resources available to advisors of small businesses. Links to additional resources that provide more information on the features described in this document. FATHER RABBIT XERO CUSTOMER

3 XERO REVIEWER S GUIDE 3 OVERALL MESSAGE Xero provides online accounting software that helps small businesses thrive by taking the pain out of their accounting so they can get on with running their business. KEY BENEFITS Xero brings together small business owners, their advisors, their banks, their customers and other small business applications in a way that s simple, smart and secure. Xero connects seamlessly to every source of data to give a complete financial picture of a business in a way that no other software can. Xero turns business into a beautiful experience that makes people smile.

4 AT A GLANCE XERO REVIEWER S GUIDE 4 NO DATA ENTRY Data flows automagically to Xero from banks and other business software. Everything is in context, all the time. Bank reconciliation helps ensure records are up to date. SINGLE LEDGER One view of the truth. Small business and their accounting professionals share exactly the same set of numbers. More accurate, with no version control and no file transfer issues. INTEGRATED PAYROLL Payroll is directly connected to the accounting system, making it even easier for small businesses to run their organizations. Data seamlessly flows from payroll to the ledger in Xero, reducing administrative overhead and ensuring accuracy. ONLINE AND MOBILE INVOICING Invoices can be sent anytime anywhere, and financial transactions can be recorded in real-time, reducing the time to get paid, improving cashflow. FLEXIBLE REPORTING World class, web-based reports allow businesses to better understand their own financial position, slicing and dicing reports and data to get the insights they need. SAFE, SECURE AND RELIABLE Xero has invested in class-leading infrastructure, providing multi-geographic redundancy, high system uptime and seamless software updates, ensuring our solutions are always available and our customers data is safe. OPTIMIZED DESIGN Xero goes beyond providing easy to use software. We focus on making it easy to getting things done, with fewer clicks, while our intuitive design reduces learning time, making accounting accessible to all. EXTENDING XERO WITH ADD-ONS More than 350 add-ons connect to Xero and share data allowing customers to create a solution that is right for them. PAY BILLS Customers can manage their cashflow by scheduling payments and batch paying suppliers. Suppliers can also send their invoices directly to customers accounts. UNLIMITED USERS Organizations can invite as many people into Xero as they need, at no additional cost, controlling what they have access to and enabling unlimited collaboration. EASY CONVERSIONS Easily convert from Intuit QuickBooks to Xero at no cost. Small businesses work with their accountant to supply Xero with a QuickBooks data file and we ll manage the conversion process, updating the accountant along the way. 24/7 UNLIMITED SUPPORT Xero customers enjoy unlimited, free support delivered through a range of options - including , comprehensive online help and online communities. MOBILE APPLICATIONS Xero Touch is the ideal mobile companion for Xero, giving small businesses the freedom to perform key functions anytime, anywhere. Use Xero Touch on your Apple iphone or ipad or Android smartphone for bank reconciliation, expenses, invoicing and contact management. INVENTORY Inventory in Xero makes it easy for small businesses to track the quantity and value of the items they buy and sell. Now they can make more informed decisions about their stock and update their records in real time.

5 XERO REVIEWER S GUIDE 5 IN THIS GUIDE Can t see the contents? Download Adobe Reader for ipad here, and view this pdf in that app. SUPPORTING RESOURCES Within this document, we provide links to additional resources that provide more detail about Xero and how it works. These resources include: Xero TV, and the Xero 101 video series in particular, is a video-based guide to understanding some of the stand-out features of Xero accounting software. Xero s online help provides comprehensive information about Xero and its features, delivering detailed assistance that s available anytime, anywhere. If you require any further information, please don t hesitate to contact prteam@xero.com.

6 XERO REVIEWER S GUIDE 6 SECTION 1 The Xero story Find out about Xero and how it solves the needs of small businesses.

7 XERO REVIEWER S GUIDE 7 XERO SAN FRANCISCO OFFICE THE XERO STORY Xero is setting the agenda for online accounting software. Born in the cloud, Xero has transformed how small businesses - and their accounting advisors - use and think about the solutions they use to manage their finances. Xero s beautiful accounting software came about from the realization that there are two things small business accounting should deliver: Up-to-date information for small business owners to effectively run their businesses: how much money they have, where their money is going, who owes them and who they owe; and Quality advice, made possible by giving accountants and bookkeepers the right information at the right time. Accounting software traditionally fitted one of these needs, but never both. We knew that small businesses thrive when they have up-to-date advice from their accounting professionals, and we also knew that existing software wasn t delivering on that. IN 2006 WE REINVENTED THE SYSTEM We designed a beautiful, streamlined platform around the tasks small business owners do, and then connected that to their accountants and bookkeepers. With Xero, small business owners can: Create an invoice easily, from anywhere Reconcile bank transactions in a simple, intuitive way Ask their advisor a question straight from Xero. They can see how much money is really in the business - every bank account balance, and a wide-angle view of the business that puts those balances into context. Xero is built on a powerful double-entry platform, meaning debits always equal credits and all information is available for accountants to slice, dice and analyze. THE SINGLE LEDGER The Single Ledger is the concept of all the financial data being in Xero, on one ledger (rather than one ledger for the business and another ledger for the accountant or bookkeeper). Xero s Single Ledger is changing business for the better, improving efficiency and reducing time spent on compliance. Instead of accounting professionals manually collecting a business financial documents and data to compile a set of accounts, Xero s single ledger allows businesses, their accountants, bookkeepers and financial advisors to collaborate online, working together on the same set of live financial records. For too long, business owners and accounting professionals have accepted not knowing the financial status of the business for six to 12 months after each financial year. Accounting professionals can now advise on matters as they occur and be a true partner for success. KEEPING EVERYTHING CONNECTED Businesses create a lot of data, and there s no real way to make data entry easy. So we dramatically reduced data entry through Xero. Small businesses can connect to banks and have bank statement lines automatically flow in, or connect to our many add-on partners. Either way, the data flows in seamlessly, rather than through manual data entry.

8 XERO REVIEWER S GUIDE 8 With all of these powers combined - intuitive design, connectivity and the cloud - you have the ultimate, most beautiful accounting software - Xero. MALONEY S BARBER SHOP XERO CUSTOMER ADD-ON MARKETPLACE Small business owners can manage many aspects of their business by integrating applications with Xero. The fast-growing network of Xero Add-on Partners include solutions for CRM, point of sale, time tracking, ecommerce, inventory and many more. With more than 350 add-on partners registered, solutions can be derived for many industries and requirements. View our range of Add-on partners at BUILT IN THE CLOUD Small business owners want to do business from anywhere. Rather than make them go to a single computer, we brought the accounting to them. Designed from the ground up for the cloud, owners can easily approve data, send invoices and run reports from any computer or mobile device they choose. We also wanted to give small business owners the ability to connect with their advisors. Advisors can log in and make sure business owners are doing their accounting correctly, and give up-to-the-minute advice based on real-time data. SOFTWARE AS A SERVICE Since Xero is a software as a service (SaaS) solution, once a business has signed up they pay a monthly fee and can then scale up or down at anytime. The software is hosted securely on the internet, allowing Xero to address the large and fragmented global small business market. Additions and extensions to features within Xero are developed in response to the needs of new customers and new industries, and are incorporated frequently. As a SaaS solution, there s no need for manual, costly software updates - it all just works. And since Xero is 100% cloud, it doesn t need to be installed - instead it is accessed using the same browser a business would normally use to access the internet. Accounting professionals access the same set of data as their small business customers - there is no need to transfer files, or worry that data has not been updated. Xero works on any mobile device using a web browser and also has native versions developed for ios or Android devices. XERO PRACTICE STUDIO Xero provides the tools Partners need to help their firms work smarter and become more efficient allowing them to provide even more value to their customers. Xero Practice Studio comprises a range of powerful cloud-based solutions that help accountants and bookkeepers run their practice, delivering key features including document preparation, reporting, practice management and filing tax returns. The core practice products are designed to work together, sharing financial records across the solutions to help streamline a firm s core activities, including quoting, timesheeting and invoicing - as well as the preparation of reports and tax filings. For our Partners the value is clear: these solutions help reduce administration time and improve visibility over productivity and profitability, giving firms the flexibility to run the way they want, how and where they want. Like Xero, Practice Studio is cloud-based, delivering the same core benefits as Xero s small business solution: data is secure and backed up, the solutions can be accessed from anywhere at any time, and updates are provided at no cost. Xero makes these solutions available at no cost to members of the Xero Partner Program who have achieved status levels in the program.

9 XERO REVIEWER S GUIDE 9 SECTION 2 Preparing to review Xero We make it easy for you to start using Xero. Follow these steps to start your evaluation.

10 XERO REVIEWER S GUIDE 10 TO GET STARTED If you don t have a Xero login, you can sign-up for a 30- day free trial version here. Just enter your name, address, phone number and location. You will then receive an asking you to verify your account before you can login to Xero. You don t have to have your own small business to check out Xero. Get started with the Demo Company, using dummy data to try out features and get familiar with Xero - just click the list icon, then select My Xero. Click on the Demo Company where you ll be presented with the Xero Dashboard. ABOUT THE DEMO COMPANY DATA We provide the Xero demo company so you can see how Xero works. The demo company is filled with fictional data that you can use and add to, to see what it s like to use Xero. When you access the demo company a copy of this data is essentially created just for you, so you can experiment with the solution - using real or fictional data. Any data you import or enter in Xero will not be kept or seen by anyone else. You are also welcome to use actual data with Xero, either entering or importing data that is more familiar to you. Use the built-in instructions or refer to the Help Center (at help.xero.com) for more information.

11 XERO REVIEWER S GUIDE 11 SECTION 3 How small businesses work Our customers are time poor, yet need access to accurate and timely information to run their businesses.

12 XERO REVIEWER S GUIDE 12 INTRODUCTION Small businesses are vital to the economies of most developed nations; for most countries, if small businesses are successful, then the economy grows and society benefits. It s not easy running a small business, though: the people who work in them have limited time and don t necessarily want to learn about technology. They grow, they shrink, they evolve. And as they do that, they need help - to run their business and to use the systems they rely on. UNLIMITED USERS With unlimited users and full control, businesses can have partners, accountant, bookkeeper and financial advisor all across the books at no extra cost. USER ROLES There is one version of Xero, but two editions: The Business Edition (My Blue Xero) and Partner Edition (My Green Xero). The Business Edition (Starter, Standard, Premium) is available to anyone, while the Partner Edition is only available to approved Xero Partners. Every user invited into an organization in Xero is set up with a role determined by the person who invites them. A role determines the level of access to view and do certain things. Roles also specify whether someone has the ability to change the role themselves. For accounting professionals, it s also possible to specify what client organizations in Xero each staff member can access, providing flexibility around who has access to an organization s information. If you re using the Demo Company, you ll have a Standard role. Learn more about the various user roles here. 24/7 CUSTOMER SUPPORT Xero prides itself on providing superior customer support through a range of mechanisms: unlimited -based support, online help and online communities. These resources are free and unlimited for Xero customers. Xero U, our Education and Training service, delivers a range of in-person and on demand training for both small businesses and advisors, helping organizations understand how to use Xero s products inside and out; preparing users for, and managing, our Certification program; and providing insights and information to help organizations with practice development, sales and marketing techniques, working with third-party applications, automating their workflow and much more. The Xero Business Help Center allows users to find out almost everything they need to know. For more in-depth customer support, users can navigate to the Contact Xero Support link at the top right hand corner of the Help Center screen: ask a question, make a suggestion, or let us know if something is broken. Enter an address and send the message off, and one of our helpful team members will be in touch as soon as possible. CAPTURING CUSTOMER FEEDBACK Because we built Xero for our customers, we want to know when there s something they do or don t like. At the bottom of the Dashboard is three faces - happy, neutral, sad. Users can click the one that relates to how they feel, and give us some feedback. We ll add it to our list and think about how we can make things better.

13 XERO REVIEWER S GUIDE 13 SECTION 4 Using Xero Xero has loads of great features to help small business owners manage their finances, so we ve outlined some key features we re particularly proud of.

14 XERO REVIEWER S GUIDE 14 DASHBOARD Once logged in to Xero, business owners are presented with the Xero Dashboard a snapshot of their organization s financial position, including Bank Accounts, Account Watchlist, Money Coming In and Money Going Out to help them understand their real-time cashflow. The Dashboard is highly interactive and customizable, as users control the content and layout. BANK ACCOUNTS Businesses can add bank, credit card and PayPal accounts to the Dashboard, and the order can be pre-determined and changed easily. Each account has a Reconcile button and the number on this button identifies the number of unreconciled bank statement or transaction lines for the account. ACCOUNT WATCHLIST The Account Watchlist allows for the monitoring and management of key accounts in the Chart of Accounts. It summarizes the current month and year-to-date figures of the business owner s chosen accounts. BILLS YOU NEED TO PAY Bills You Need to Pay is a graphical snapshot of the money owed by the business and when it needs to be paid. The graph also shows bills marked as paid. Bars show the net amount owed on a day from bills and credit notes with a downward bar indicating a credit balance. TOTAL CASH IN AND OUT The Total Cash In and Out graph shows the incoming and outgoing cash over the past few months. This helps businesses see their historical cash movements at a glance. Users can view more detailed information as required. See more on Xero TV Learn more on Xero Help INVOICES OWED TO YOU The Invoices Owed to You graph gives a snapshot of money owed to the business and how long it s been owed based on due dates listed on customers sales invoices. Bars show the net amount owed in a month from all sales invoices and credit notes with a downward bar indicating a credit balance..

15 XERO REVIEWER S GUIDE 15 BANKING Small businesses rely on their bank accounts, but it s traditionally been difficult to match transactions in a bank account - or multiple bank accounts - with the accounting system. Payments come in, expenses get paid, so it s important to have easy access to this data so that businesses obtain a better understanding of their cashflow, helping them to make more informed business decisions. BANK RECONCILIATIONS Xero s Bank Reconciliation is a key component of our accounting software, allowing business owners to effortlessly keep their accounts accurate and up to date. It s fast and fun and can be done on the go, or even before getting out of bed in the morning. Bank reconciliation lets business owners easily match transactions from their bank statement with matching transactions in Xero. Imported bank statement lines are on the left and the Xero transactions are on the right. Match, create, transfer or discuss. Match: Xero finds a match (based on amount) for the imported statement line. Create: When there is no matching item in Xero, create one on the spot. In some cases, Xero will suggest a match based on similar transactions that have previously been reconciled. Transfer: When there is no matching transfer in Xero, create one on the spot. Discuss: Users can collaborate with each other or their accounting professional by adding notes and other necessary details to a reconciled transaction. NEXT GENERATION BANKING - LIVE BANK FEEDS Because accounting software and banking should be complementary, Xero is the first accounting software to share live transactional data with banks. Live bank feeds mean Xero automatically imports all bank account, credit card and PayPal transactions so business owners always have a complete and up-to-date view of their business. Having instant access to real-time financial data lets business owners control cashflow like never before. Next Generation Banking means transactional data comes into Xero from the bank, where it s processed and reconciled. For some banks, financial information can be passed back for a variety of services: payments; a loan application; or to sign up to additional services. See more on Xero TV CASH CODING Fast cash coding gives accounting professionals the ability to process a bank statement (or a whole year s worth of bank statements) in a single swoop. Business owners can use cash coding to quickly reconcile imported bank statement lines that represent cash transactions that haven t been entered into Xero. Cash coding is quicker than using the Reconcile tab to reconcile bank accounts. It lets users select accounts and tax rates for multiple statement lines at the same time. Then when saving and reconciling, Xero creates a matching spend or receive money transaction. See more on Xero TV See more on Xero TV Learn more on Xero Help

16 XERO REVIEWER S GUIDE 16 EXPENSE CLAIMS We make it easy to manage personal expenses and reimburse employees for payments made on behalf of the business - owners can simply take photos of receipts (or photocopy them if they wish) and link them directly to expense claims within Xero. After receipts are added, there is the option to approve or decline individual items - then a payment can be scheduled for reimbursement. See more on Xero TV Learn more on Xero Help FILES Traditionally, the files created and received as part of a business are stored away in filing cabinets, shoe boxes or in some hidden folder on the computer. These files could include invoices, contract information, scanned paper documentation - anything that could have a relationship to anything in the accounting system. With Xero Files, a business can store all relevant files and documents alongside the financial data within Xero, making collaboration with advisors even easier. Files lets a business owner attach multiple documents to almost any record or transaction in Xero and have them right at their fingertips. Such documents can be associated with invoices, transactions, expense receipts, fixed assets, contacts, chart of accounts, bank accounts and even manual journals. Webcams can be used to take a photo of an expense receipt, or bills can be forwarded from directly to Xero, dragging and dropping the file into the right spot. Files can also be added using Xero s mobile application, Xero Touch, which can take photos of documents and objects and have these associated with a record. See more on Xero TV Learn more on Xero Help CONVERTING FROM QUICKBOOKS Businesses can convert from QuickBooks for free. All transactions from the current and prior fiscal year are converted. This allows a business owner or their trusted advisor to produce all of the comparative reports for the prior year, and to start using the beauty of Xero for their business going forward. Get more details at SALES DASHBOARD In the Accounts menu, through the Sales tab, business owners can get to the Sales Dashboard where they can see graphs and charts that make it easy to see who owes the business what and when so they know what to follow up on - helping them keep a handle on their cashflow. In one view, they can see the draft invoices which are yet to be sent and how much they re worth; invoices that are yet to be approved; invoices waiting for payment, but have not yet passed their deadline; and overdue invoices. They can also see when money is expected to come in, and which customers are owed the most and need to be followed up with.

17 XERO REVIEWER S GUIDE 17 QUOTES AND INVOICING SALES QUOTES Many small businesses win work by using sales quotes. They drive sales, which generate revenue and build relationships with customers. By making it easy to create a quote, businesses can quickly respond to an opportunity. And, with a couple of clicks accepted quotes can become invoices. It s also easy to copy quotes and check their status. Online Quotes allow small businesses and their customers to quickly send and collaborate on a quote. Customers can accept, reject or query a quote through their browser with real-time updates in Xero to keep business moving. See more on Xero TV ONLINE INVOICING Online invoicing means businesses can have their invoices paid quicker and more easily and make better connections with customers. Using Online Invoicing, a business can simply its customer the link to a live invoice, showing the most up-to-date details, including payment status, payment history and a Pay Now button for accepting payments. Owners and their customers both see the same documents at the same time, and invoices can be automatically loaded into Xero with the associated PDF, saving re-coding and manual file uploads, and saving data entry time. With financial transactions recorded in real-time, the gap between money flowing and keeping proper business records is eliminated and handled automatically within Xero. The business owner will be able to see whether their customer has viewed the invoice, so there s no more excuses that it s gone to junk mail. SALES INVOICES Business owners can create their own Sales Invoices within Xero, with options to brand invoices easily and use multiple currencies if billing an overseas customer. If they need to, they can use different inventory items, accounts, tax rates, tracking options, prices and discount percentages. Once the invoice is complete, and if they ve got approval rights, they can easily click the approved button and it off to their customer ready for payment. Alternatively, it can be saved as a draft, saved & submitted for approval, or saved & another added. For more on adding or editing a sales invoice, visit our help page. WHAT THE CUSTOMER SEES The customer is sent a link to the online invoice to view and pay. They ll also be able to see if they have any other outstanding bills. If the customer wants to see the details of those outstanding bills, they ll need to create a free login, or if they already use Xero, login to their Xero account. Once they login, the outstanding bills can be viewed securely online. Customers can then click the Pay Now button, enter their credit details, and voila - the business is paid! Not only will the money be shooting its way into the business s bank account, but it will automatically create the payment in Xero ready to reconcile as soon as the transaction appears in the bank feed. PURCHASE ORDERS Sometimes placing an order can be as simple as calling a supplier and requesting the goods or services. But as a business grows, the need to manage ordering will grow too. Purchase Orders in Xero puts a business in control of purchasing from its suppliers so both know exactly what s been ordered, the exact cost and when and where it s being ordered from. Bills can be created from a Purchase Order, helping businesses to control expenditure and manage overall cashflow. To find existing orders, users can click through to the Purchases Dashboard and, like bills, they re all listed under tabs. Everything is easy to locate with sortable columns and search. For a quick glance, they can sort by delivery date or expected arrival. See more on Xero TV TRACKING CATEGORIES Tracking categories provide a flexible way to categorize and track account balances by location, department, separate properties or other meaningful breakdown of the business. For example, if a client sells different product lines, tracking categories can be used to track the proportion of income and expenses related to those different product lines. MULTI-CURRENCY SUPPORT Using the multi-currency option in Xero allows businesses to send sales invoices and purchase orders, or receive bills and payments, in over 160 different currencies (excluding expense claims). With multi-currency, bank accounts can be set up in other currencies and reports can be run on foreign currency activities. Exchange rates are provided into Xero automatically via a feed from XE.com, and this can be overridden if required. This feature is provided to businesses who are subscribed to a Premium plan. Learn more on Xero Help

18 XERO REVIEWER S GUIDE 18 REPORTING With live reporting in the cloud, businesses and their advisors can collaborate and take a proactive approach to managing their accounts throughout the year - not just at the end of a financial year, when it can sometimes be too late to make changes to how a business operates. Organizations using Xero s reports can easily view or share interactive reports and budgets, all prepared with a single click. Dozens of reports can be accessed through the Xero Report Center. Reports are organized into groups, making it easy to access reports relating to performance, cashflow, financial position, payroll and tax, and many of the reports provide a range of report-specific customization options, delivering even more power and flexibility. CUSTOMIZED REPORTING Instead of trying to piece together inflexible reports, Xero makes it simple for customers to view their financial data whenever and however works best for them. Xero s reporting technology allows organizations to easily understand how their business is performing. Customers and their advisors can access a powerful, flexible reporting engine that provides the ability to access and control the information that is retrieved into the report, and how that information gets represented on-screen. If advisors want to dive deeper into the financial data, they can customize the layout of the financial reports to meet the needs of the customer. Advisors can choose from a range of standardized reports or adapt these for particular requirements - they don t have to struggle with one size fits all reporting for their clients. Convenience dates can be applied to select from a number of commonly used date ranges, and it s easy to control the number of columns you want to show. Users re-sort items and group by any key field by simply dragging and dropping the items they want to move. Some reports also provide the ability to create formula rows (e.g. to show EBITDA or a gross profit percentage), giving even more control over what information is presented. Reports can also be saved as templates, ensuring the settings are retained the next time the report is run. All of these reports work off the same, centralized data, ensuring information is accurate, up to date and easily accessible. See more on Xero TV SMART LISTS Smart Lists is a powerful search capability that enables users to search and export customer and vendor contacts for marketing purposes, enabling small businesses to extract more value out of their accounting data. Businesses can use Smart Lists to create powerful targeted lists based on a variety of filters such as customers past purchase behavior, geographic location and payment patterns, including outstanding payments. Smart Lists helps our small business customers market to the right customers, giving them the flexibility to export to a marketing platform, such as Constant Contact, or as a CSV file. See more on Xero TV Learn more on Xero Help

19 XERO REVIEWER S GUIDE 19 PAYROLL Accounting and Payroll work as one to allow organizations to calculate payroll, pay employees and file payroll taxes. When the payroll is processed, payroll information is automatically updated into the general ledger, eliminating the need for manual data entry. Federal and state payroll taxes are automatically calculated, with completed tax forms available to download. Federal e-file in Xero creates and electronically files Federal payroll tax forms for organizations. Bulk payments can be processed, and payslips can be ed or printed for employees. Detailed reports can be run to give an overview of all wage expenses. Given payroll is online, a business is always using the latest tax tables, and web access gives employees self service, making payroll management easier for everyone. INVENTORY Xero provides simple, up-to-date inventory management, adjustments and reporting which makes it easy for small businesses to track the quantity and value of the items they buy and sell. Inventory is updated in real-time, so small businesses always know the value of their inventory. In addition, inventory reporting guides small businesses in their decision making by listing which items are being sold, and how much profit they re making. For small businesses with more complex inventory requirements, they can select a solution from one of Xero s add-on partners to meet all customer needs. See more on Xero TV Learn more on Xero Help

20 XERO REVIEWER S GUIDE 20 XERO TOUCH FOR SMARTPHONES AND TABLETS Xero Touch is the companion app for Xero s online accounting software and the perfect financial tool for small business owners. That s because they are often on the go, away from their home office or desktop. Xero Touch permits them to perform many basic accounting and bookkeeping tasks that they would otherwise have to remember to do later: Bank reconciliation. Now users can easily match transactions from their bank statement with matching transactions in Xero. It s fast and fun and can be done anytime, anywhere. Invoicing. It s quick and easy to access all stages of invoicing, such as overdue or unpaid, submitted or drafted. Invoices can also be created using Xero Touch, letting a business create an invoice at a customer s site and helping to improve cashflow. Expenses. Conveniently track drafted, submitted and completed receipts; and process new expenses and receipts. Small businesses can also capture those expenses immediately by taking a photo of a receipt and submitting it on the spot. Contacts. Small businesses can keep track of their clients and contact details for easy access on the go. Xero Touch has been designed to take advantage of the attributes of smartphones and tablets. The versions for Apple iphone and Google Android smartphones are designed to work in the palm of one s hand. The Apple ipad version of Xero Touch takes advantage of the larger screen to make some actions more efficient, and can also work in landscape or portrait allowing users to work the way they want to. See more on Xero TV

21 XERO REVIEWER S GUIDE 21 ADDITIONAL RESOURCES SECURITY Our software has never been breached and we have never lost any customer data. We invest heavily to protect our customers sensitive financial information against unauthorized access and system failures, ensuring your data is guarded to the highest level. For more about Xero s system security: CASE STUDIES Hear from our many different small business customers who use and love Xero. SMALL BUSINESS GUIDES Read our small business guides for tips, tricks and essentials on cloud accounting, invoicing, online bookkeeping, payroll, online business tools and more: PRICING Xero is available in a number of different pricing plans, subject to an organization s needs. Customers can move up and down plans easily, as their organization evolves. ADD-ON MARKETPLACE Xero integrates with hundreds of add-on business applications. For more information on the add-ons that are available, visit the Xero Add-on Marketplace.

22 XERO REVIEWER S GUIDE 22 SECTION 5 Supporting trusted advisors Small businesses can engage with their accounting professional to get assistance and advice on how to run their business.

23 XERO REVIEWER S GUIDE 23 AT A GLANCE Xero is the next evolution of accounting: Powerful cloud-based, single-ledger, doubleentry accounting software for accounting firms and their small business clients. THE PRACTICE AND THEIR CLIENTS: ALL ON ONE PLATFORM Xero practice tools efficiently manage an accounting practice and streamline the client data needed for reporting, document preparation and tax all available anywhere, at any time on any device. ONE PLATFORM FOR EVERYONE Xero practice tools efficiently manage an accounting practice and streamline the client data needed for reporting, document preparation and tax all available anywhere, at any time on any device. THE POWER TO DO MORE From QuickBooks conversion to customized management reports, audit trail to client subscription management and manual journals to batch tools - Xero provides accounting professionals the tools they need to help them be the client hero. The end result: Increased efficiencies and realized practice growth. SAFE, SECURE AND RELIABLE Xero has invested in class-leading infrastructure, going beyond the protection of data to providing multi-geographic redundancy, world-class uptime and seamless software updates. This ensures that our solutions are available when our customers need them, wherever they do business. FREE PARTNER PROGRAM Xero offers world-class tools, award-winning design, top-notch support, extensive training options, software for accounting professional practices, discounted client software and more - all for free through our Xero Partner Program. PURE COLLABORATION Small businesses report a 16% increase in revenues when working with an accounting professional in conjunction with Xero.* The secret: Collaboration. Today is all about being the proactive advisor and Xero enables this collaborative focus with customized tools and a comprehensive dashboard. ALWAYS SUPPORTED With a dedicated account manager, partner enablement specialists and unlimited 24/7 dedicated and knowledgeable support - Xero Partners never go it alone. This is a true partnership. EVERYTHING IS CONNECTED Xero brings together small and large businesses, financial institutions and government. Data flows automagically to Xero from banks and other business software. And Xero Touch puts the power of connectivity across Android and ios devices. PRACTICE REPORTS Practice Reports revolutionize how accounting professionals create reports, assemble management reports and enjoy unparalleled efficiencies all through a web browser. Creating report templates and updating client reports has never been as easy or as powerful. *A survey conducted in March/April 2014 by Radius Global Market Research online to 304 small business owners that use Xero in the US.

24 XERO REVIEWER S GUIDE 24 PARTNERS Xero helps our Partners become more successful by strengthening the connection between the practice and its small business clients. By combining the power of the cloud with a Single Ledger, Xero helps to make transactional accounting more efficient, while making it easy for a Partner s clients to do their day-to-day work. While a small business can use Xero to manage its finances, Partners can provide additional services - not only delivering traditional compliance services, but using the power and efficiencies of the technology to provide higher value services. Technology also enables Partners to collaborate more easily with their customers. Xero provides a range of partner-focused tools that help manage clients, perform common tasks more easily, manage tax and compliance requirements, and produce key financial reports. Complementing the technology is an established program that helps Partners grow their practices. The Xero Partner Program provides a range of tools, resources and capabilities - delivered by Xero and its partners - to help practices learn new skills and identify new opportunities. SRK ACCOUNTING XERO PARTNER

25 XERO REVIEWER S GUIDE 25 CLIENT MANAGEMENT Xero provides powerful tools for Partners to manage their clients, managed through a dedicated portal called My Xero. This is similar to the portal provided to small business users. Note: My Xero uses different colors to spotlight the Partner (green) and small business user (blue) experience. COLLABORATION The My Xero Dashboard provides easy access - from a single screen - to the small business clients organizations. There s no need to login to review each individual organization. In fact, Partners can create Custom Groups to organize and keep track of small business clients by common characteristics, such as payroll clients or weekly reviews. This collaborative focus offers essential information on each client s status - including setup progress, bank reconciliation, last modified date, type of subscription and more. Small businesses and their advisors can work together to access the same up-to-the-minute records, attached documents and notes. SUBSCRIPTION MANAGEMENT Xero offers subscription plans to meet the specific needs of a small business at any given time. If the needs of a business have changed, it is easy to upgrade or downgrade to a different subscription plan. All Xero plans, from Starter to Premium, offer a 30-day free trial with no credit card required. Xero Partners also enjoy a free Xero subscription to use for their own practice. The My Xero Dashboard offers a flexible way to manage all client subscriptions paid either by a small business or an advisor. ROLES AND PERMISSIONS Xero Partners can invite an unlimited number of users to a small business organization. Each user is granted specific permissions and levels of access. CONVERTING FROM QUICKBOOKS Partners can convert from QuickBooks for free. All transactions from the current and prior fiscal year are converted. This allows them to produce all of the comparative reports for the prior year and to start using the power of Xero for their clients going forward. Our automated process, which takes less than two hours, allows Xero Partners to manage all their conversions over a timeframe that suits them. This way they can convert a client s existing file and bring over the year-to-date work and keep them operational with minimal time delay and no duplicate data entry. Get more details at

26 XERO REVIEWER S GUIDE 26 REPORTING Reports are a key product that Xero Partners provide to clients. And with Xero, any and all reports are within easy reach, enabling the creation of End of Year and management reports, all generated within Xero and its flexible, web-based reporting engine. Xero Partners can deliver these client-ready reports as a PDF, Excel spreadsheet or Google Doc - all while maintaining an active archive directly in Xero. In addition, all reports can be annotated, customized, and personalized, enabling Xero Partners to provide their clients guidance and insight. RECONCILIATION REPORTS These key tools make sure that accounts are in order and that all transactions are in the right place. Xero has nine pre-made reconciliation reports to easily monitor ledgers and identify areas that may need expert attention. Accountant-focused reports - such as the Journal Report, the General Ledger Exception Report and the Detailed Account Transaction Report - offer familiar and powerful views of accounting data. Global Search on Account Transactions - the ability to find any transaction in any account - also provides a new and powerful way to stay on top of each client s accounting activity. In addition, Xero Partners can conduct a search across all the log items. With such flexibility, the audit trail is yet another powerful way to make sure that all accounting records are clean, proper and substantiated. PRACTICE REPORTS Practice Reports take reporting to a whole new level, balancing the requirement to standardize with the need to customize. For practices, we recommend starting with the standard group of financial reports and then customizing with additional reports or sub-schedules, and annotating and adding descriptive footnotes. Now memorize the group for repeated production monthly, quarterly, annually etc. anytime clients need a clean professional presentation of their finances. AUDIT TRAIL Xero keeps an audit log of all activity on a specific transaction or record, whether it be an invoice, bill, transaction, contact or inventory item. This log records the user and the time a transaction was modified. And since these logs cannot be edited or deleted by anyone, they serve as a great audit trail.

27 XERO REVIEWER S GUIDE 27 ACCOUNTING TOOLS Complementing the small business online accounting solution, Xero provides a range of tools for accountants and bookkeepers to work with their clients financial information. These include: Manual journals - Users can create new manual journal entries and save them as drafts or post them directly to the general ledger. Manual journal entries can be edited and reversed - and even deleted at a later date if necessary. A manual journal page displays all journals and their status, with an easy search feature for existing journals. Journal entries completed outside of Xero can be easily imported into Xero using a standard Xero CSV template. Accounting period, lock and close - Once all charges have been posted, payments have been received and deposited, and all manual adjustments have been made, the period lock date can be used to close off periods throughout the year or the end-of-year lock date can be used for financial year end. Note: After a lock date is set, users can still review all settings and data. Only users assigned as an advisor can approve account changes prior to the set date. BATCH TOOLS Xero applies design principles when creating its software, not only ensuring that the software is easy to use but, wherever possible, to create efficiencies. Batch tools allow Partners to save time and do more without having to move between screens: Quick spend and receive. View and create spend and receive money activities right on the Account Transaction screen. Similar to a check register, enter any amount of money spent - and enjoy the convenience of contact autofill, default account by contact and item defaults. The whole process takes just a few keystrokes. Batch receive payments. Pay bills with ease by bundling multiple bills into one transaction for payment. During a batch payment, Xero automatically marks each bill as paid and notes these multiple payments under Bank Accounts. Batch deposits. Receive payments against sales invoices in a fast way. You can select multiple payments and create a batch deposit slip. All payments are marked as received and ready to be reconciled. When the bank feed comes through, you can reconcile the whole batch with one click. TAX Xero makes it easy to manage every client s tax compliance and filing requirements: Vendor 1099s. Find the appropriate vendor payments and export data to produce 1099s. Then seamlessly e-file 1099 forms quickly and easily from the cloud. Sales tax rates. Run a sales tax report to determine a client s sales tax liabilities - complete with local component rates - at any moment. Now when it s time to file, access the data to report and pay accordingly. Payroll. File payroll forms and taxes electronically - directly from payroll with the IRS - anytime, anywhere. These include Federal Forms 940 (Employer s Annual Federal Unemployment Tax Return), 941 (Employer s Quarterly Federal Tax Return) and 944 (Employer s Annual Federal Tax Return). At the end of the year, a customized Trial Balance can be exported to a range of popular tax programs, including Lacerte, CCH and TaxACT. Mapping tools can be used to memorize the export format so that future tax filings are streamlined.

28 XERO REVIEWER S GUIDE 28 ADDITIONAL RESOURCES XERO PARTNER PROGRAM Xero Partners enjoy the benefits of a true partnership - including free software, training, promotional materials, dedicated support and much more. EDUCATION Xero Partners can access a range of online and in-person resources to learn about how to use Xero and how to improve the performance of their practice. Live tutorials, webinars or self-paced learning are available. Online resources are also available: Xero s online Help Center provides comprehensive documentation on how to get the most out of Xero, while the online Community ensures small businesses and their advisors can collaborate and share advice. help.xero.com community.xero.com CASE STUDIES Accountants and bookkeepers have built or expanded their practices with Xero. Check out their stories: ONGOING SUPPORT Xero Partners don t go it alone. Every Partner is assigned a dedicated account manager to serve as a guide throughout their Xero journey. This means easy access to support, answers, resources and more. Every member of the Xero customer experience team has the right balance of accounting, technology and service knowledge. So when Partners contact Xero through our free 24/7, unlimited, dedicated support - they can be sure to receive the right answer the first time. INHOUSE DESIGN CO XERO CUSTOMER

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