The most frequently asked questions about Xero

The most frequently asked questions about Xero (1)

What banks are compatible with Xero?

Many banks work with and are compatible with Xero. The big four NAB, CBA, ANZ and Westpac and Over 80 Australian banks connect and send daily feeds of bank transactions directly into Xero.

 

Is there a free version/trial of Xero?

There is no free version of Xero but you can sign up for a free 30-day trial.

You can upgrade from a trial to a subscription with just a few clicks from within your Xero account. All your data will remain in place as well.

 

Does Xero process payroll?

Xero can manage a variety of tasks, including payroll, superannuation and Single Touch Payroll. It also updates your accounts automatically. With Xero, payday filing is easy. Once you establish a connection you can Pay staff and report payroll details to the ATO with online payroll software directly. Automate tax, pay and super calculations.

Payroll tasks can be managed in just a few clicks with automatic tax and leave calculations, flexible pay calendars, tax and pay rates, email payslips and let employers access them online.

 

Is Xero better than QuickBooks?

Xero is the leading cloud-based accounting platform. It’s widely used by small and medium businesses and mastered by modern accounting and bookkeeping firms like Link.

Xero is scalable and has different plans available with the option to upgrade anytime. All plans support unlimited users, and it integrates with over 700 third-party applications (and growing).

 

How does Xero handle multicurrency?

You can use multicurrency to invoice your customers and receive payments in 160 currencies. Currency movements display in your transactions and are updated hourly.

 

Can I add more than one company on Xero?

You can have all your entities in Xero (in fact we highly recommend it), but you’ll need one Xero organisation (subscription) per entity. You can easily switch between Xero organisations.

 

Can I add or remove functionality from Xero?

Yes, absolutely. Xero has different versions and it is easy to upgrade and downgrade as your business changes or grows. As Xero runs in the cloud (not a desktop application), accessing this additional functionality is super quick and simple with no downloads or installations required.

 

Is Xero user-friendly?

Xero is incredibly user-friendly and offers many different support options – email, Help Centre, podcasts, and training to name a few.

 

How to get started

If you are reading this and running a small or medium sized business, then its more than likely Xero is a great choice for you. Xero is a great tool and very intuitive, but to get a running start with Xero in your business you need to have a Xero expert like us at Link Advisors guide you on the best way to use Xero and help you get it up and running the right way.