Xero - Starting Your New Business and GST | Forum

If you are starting a new business and you wish to use the services of Xero, then the basic things that you would have to understand are as given below:

Method of computing GST on ‘Cash Basis.’

The transactions that you would have to add in your Xero file are:

·        Invoice payments received

·        Bills Paid

·        Expense claims paid

·        Manual journals on the journal date where the checkbox shows journal on cash basis reports are selected.

·        Spend money transactions.

·        Receive money transactions

The method of computing GST on ‘Accrual Basis.’

The transactions that you would have to add in your Xero file are:

·        Invoices on the invoice date

·        Bills on the bill date

·        Expense claims on the reporting date

·        Manual journals on the journal date

·        Spend money transactions

·        Receive money transaction

If you wish to attain more information about the services, then the users can connect with Xero  Support number,where they would get all the required assistance.

Read more: Xero technical support