I have to admit that I do like reading Xero’s annual reports. They are just like their software, graphical and full of simple graphs and images.
Their share price took a hit recently even though their revenue and subscriptions grew and it’s because they recorded a larger loss than they have in the past. When you read through the report though you realise that they are using a new metric to measure their success.
Could be this be a way of reporting on the profitability of your own business or where you work?
Many Xero beginners think that they only have 30 days to use the trial version of Xero but that isn’t actually correct. Xero, just like MYOB Business and QuickBooks online need you to create a “user” account and authenticate yourself using SMS or an authenticator app.
Once you’ve got your user account you are able to access dozens of different “company” files when you need to. This is how bookkeepers manage the company files for dozens of their own clients.
I’ve been getting up at 5.15am for the last 2 years – am I crazy?!
I’ve been getting up early because I work out with some friends and prefer early mornings to late nights. This means that I’m going to bed earlier and not working as much at night.
In the past I preferred to work late into the night and pushed myself to get as much work done as I possibly could. Sometimes this meant working until midnight but I noticed that the quality of the work wasn’t always the best.
The sun rises pretty early and I’d rather work with the natural light of the day than the artificial light of the night. I dug a little deeper into this and discovered that there are studies that explains how we perform at various times of the day and how that is affected by when we get up and go to bed – Circadian Rhythms.
Circadian Rhythms can affect how well you perform when studying too..
Amelia and her husband run a landscape construction business in Melbournes Eastern suburbs called Whitaker Landscape Constructions. She enrolled into a Xero Training Course with EzyLearn while doing a Cert IV in Bookkeeping and Accounting at Chisholm because she wanted more practical skills using accounting software.
What she discovered was how detailed and in-depth EzyLearn training courses and workbooks really are. OK, that’s enough of the boasting – here are some things Amelia said she likes about using Xero in her husband’s business.
Gina has 10 years experience in every aspect of operating and managing a tourist and caravan park in her home state of Tasmania and she loved the bookkeeping side of the work so much she wants to do it for other businesses.
She learnt how to use Xero and loves how it means she can do the work from anywhere – even Zeehan in Tasmania’s west.
Branding themes are just a fancy word for templates and you can create as many as you need in Xero. The biggest reasons to use different branding themes is if you use different payment methods or you have different brands within the business.
A major benefit when using branding themes is you can allocate a different theme for selected customers. For example if you have a set of customers that allow you to deduct payment for their invoices using a service uCollect you can allocate a branding theme in Xero that doesn’t give them the option to pay that invoice but instead shows a message for them NOT to pay and that the payment will be made automatically.
A Cert IV in Bookkeeping and Accounting is the same as any other Cert IV in Bookkeeping and Accounting, right? Wrong.
One of the biggest issues that ex Mentor Education students face in trying to transfer their credits to another training organisation AND continuing their studies is that EVERY RTO can choose some of their own subjects.
So a Cert IV in Bookkeeping can be different from one RTO and TAFE to another even though they’re the same qualification – does that makes sense. Let me demonstrate.
Hairdressing salons are all about people, scheduling and gossip. They are located all over the world and are a fascinating place to watch. I had my hair cut the other day by a recently graduated hair dresser and she did a fantastic job with the cut and the conversation.
Hair dressing salons are a simple business insofar as renting a shop, putting in comfy chairs and mirrors and washing bays and then matching a customer with a hair dresser. The biggest issue is scheduling the right number of hair dressers to match the demand from customers, particularly if there are lots of drop ins.
Trim and Styles Hairdressing was using an Excel spreadsheet to manage their staff but now they’re using Xero and here’s why.
If you are looking for computerised, online accounting software now is a great time. Just doing a Google search for comparisons between MYOB and Xero will reveal a flurry of ads to capture your attention.
Many micro businesses with one main worker/contractor etc just want to keep track of quotes, invoices, purchases and payments and there are some pretty cheap options available – cue… BillCue.
We’re approaching the end of the financial year and everyone will be reading and trying to understand their annual financial reports, particularly if they have outstanding Superannuation to pay (and claim) or they need funding.
I’ve written in the past about how to create a cashflow forecast using Xero and Excel and this post is a summary of good practices and recommendations when it comes to cashflow reporting
I’ve often wondered why EzyLearn has become best know for MYOB & Xero Bookkeeping courses and about the students who need to do a bookkeeping course to find work. It’s not the most exciting of topics really and most students do a MYOB/Xero course because they HAVE TO, not because they want to.
When we we design the outline and case studies for our courses I’ve tried to have some fun with the accounting aspects of a business. I’m not sure about you but the best part of starting a new business is the beginning when everything is new and shiny!
Am I a bookkeeping nerd or is everyone else also seeing these “financial” advertisements for tax lodgement, easy bookkeeping and 6 month FREE access to accounting software?
It’s interesting to see a new accounting software company appear in Australia despite the fact that many have come and gone in the past – particularly during this market downturn for technology shares! Their offer is pretty compelling though..
These are the market leading workforce management integrations for rostering, scheduling and time and attendance monitoring. Deputy was one of the first but the major accounting software companies are now snapping them up.
The most interesting story here has been KeyPay. I’ve loved the fact that Intuit partnered with the Australian company KeyPay to provide all of the local Australian payroll functionality in their QuickBooks Online software. Tsheets would also have been in this list but you know what happened to them..
Xero is a great bookkeeping program for tradies who are on the go and using their phones (or a tablet) all the time. From receipts scanning to creating quotes and invoices, receiving payments and keeping track of project costs.