By Tracy Miller
Jan 25, 2022
| News | Xero Training

So, you’ve made the decision to move to Xero. Congratulations! The Xero accounting software suite is the best of the best when it comes to handling business finances. Xero will take your business’ financial governance to the next level.

Whether you’re migrating to Xero from other accounting software like MYOB or Quickbooks or transitioning from a more manual accounting process, there are several things to keep in mind when setting up your Xero account to make the most of Xero. Here’s where to start.

Gear your Xero setup to your business needs

Many businesses make the mistake of simply replicating their old system when migrating to Xero. Not only can this carry over existing issues or gaps in your financial governance, it’s also a lost opportunity to refine your setup to make sure it best suits the business’ current and future needs. For example, often clients won’t have their chart of accounts set up in a way that is relevant to their business. The migration process is an opportunity to rectify that.

Refine your financial reporting

One of the best parts of Xero is its reporting capability. Not only does Xero arm you with the ability to pull comprehensive reports on your finances, the reports can be automated too which saves you a significant amount of time and effort. Migrating to the Xero accounting software suite presents an opportunity to refine your reporting from the outset which will give you access to more customised data with less effort.

Establish Xero integrations

The Xero marketplace contains thousands of apps which integrate with Xero, enabling a truly customised experience. The Xero migration process is an excellent opportunity to source additional integrations to meet your business needs such as inventory management or payroll.

How to Set Up Your Accounting in Xero

Work with the experts

While Xero is designed to be intuitive for anyone to use, it’s best to leave the migration process to the experts. By working with a certified Xero advisor, you can ensure all data is transferred correctly, that your new setup best meets your needs and that you don’t experience any downtime. They can also advise you on any opportunities when it comes to integrations and reporting.

Invest in training

Xero is known for being easy to use and for providing extensive support through user forums and thorough user guides. While this is a useful starting point, as your financial governance becomes more complex it’s important your team is upskilled and trained in how to make the most of your Xero setup. This will ensure maximum efficiency and accuracy.

Is it time to migrate to Xero?

If you’ve been thinking about moving to Xero, but haven’t yet made the leap, here are some reasons why it may be the right time to move.

  • Your current accounting system is out of date, inefficient or difficult to use
  • You conduct your accounting manually which is time consuming and inefficient
  • Your financial reporting isn’t comprehensive or insightful enough
  • You’re not armed with right information to make business decisions

Need help migrating to Xero? At Keeping Company, our specialist implementation team will manage your Xero migration and setup end-to-end; transferring all your data without any downtime, while ensuring your new setup is best geared for your ongoing business needs. Contact us today to see how we can help your business successfully migrate to Xero.

At Keeping Company, we’re not just accountants, we’re business people too. With our counsel, your business can reach its full potential. 

We have a team of experts; Cloud Accountants, Business Advisors, Finance Specialists working together and ready to help, contact us today.

1300 533 787


For all media enquires please contact Tracy Miller, CMO, Keeping Company 0414 898 452.

The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.