Top Tip - Xero's Best Feature - A Best Kept Secret
It is a mystery to me why this feature is not used more often. I have yet to see a new client transfer across to Epiphany Accounting Solutions either as a bookkeeping client or an accounting client with this feature previously used.
GST Reconciliation - In your Xero you will find the tab GST Reconciliation. Here you can enter the amounts you have filed GST for sales and purchases with IRD. It shows you what has been paid, journals that have impacted GST, what GST is held in debtors and creditors and finally how much is owing in GST. You can then use this to reconcile with your GST balance sheet account.
The only reason I can think of as to why this feature is not used is that it has a flaw - in that it is not intuitive. Once you have entered your GST return information and saved, happy with your return. Next return time when you click on GST Reconciliation the information has disappeared. I can only imagine the number of people who give up on this feature at this point. But there is a trick!
Save your GST Reconciliation as published. When you are ready to do your next return go to Reports - Published. Click open your last return and at the bottom left hand side select copy and edit. Extend the date range to include your next return date and update.
Once you have completed your latest GST reconciliation, remember to SAVE as published. So easy. I hope this tip helps you manage your Xero Small Business GST with ease.
Of course if you need any assistance please reach out to me at info@epiphanyaccountingsolutions.co.nz and I am very happy to help you.
Poll: Do you think banning gang patches is reasonable?
With the government cracking down on gangs, it is now illegal for gang members to display their insignia in public places whether through clothing or their property.
This means arrests can be made if these patches are worn in places like restaurants, shops, on public transport or ferries, and on airplanes. Arrests were made recently at a funeral.
Do you think this ban is reasonable?
-
76.3% Yes
-
22.3% No
-
1.4% Other - I'll share below
What's your favourite recipe for courgettes?
Kia ora neighbours. If you've got a family recipe for courgettes, we'd love to see it and maybe publish it in our magazine. Send your recipe to mailbox@nzgardener.co.nz, and if we use it in the mag, you will receive a free copy of our January 2025 issue.
Bokashi bucket composting workshop @ Glenfield Library
Don't miss Glenfield Library's Bokashi bucket composting workshop tomorrow, 2:00 - 3:30 PM. Make your own DIY Bokashi bucket to take home or surprise a loved one with a unique Christmas gift.
All participants get a discount voucher to use towards a composting system.
Register for the workshop via bit.ly...
This course is proudly supported by Auckland Council and delivered by the Compost Collective.
Loading…
