Xero

FEBRUARY 12, 2023

Our team are here to help — visit Xero Central for learning articles, support and more. In the months ahead, the ‘Old version’ tag will change to ‘Retiring 31 July 2023’, so you know they won’t be available after that date. The post Why we can’t keep old reports (and other burning questions) appeared first on Xero Blog.

XERO 264

XERO Budgeting Financial Analysis Budgeting Manager 264

Xero

JUNE 19, 2023

It has a range of content to help answer your questions about Xero, including how-to articles, videos, community discussions and the option to raise a case with our customer experience team if you get really stuck. The post How to get support as you make the switch to new reports appeared first on Xero Blog.

XERO 215

XERO Financial Analysis Accounting Accounting 215

Xero

JANUARY 29, 2024

We’ll also share support articles in Xero Central , as well as how-to videos and other resources to help you. Hayden Watson, Director, MHH Practice The post We’re retiring the classic version of Xero invoicing appeared first on Xero Blog. That’s why we’re giving you plenty of time to make the switch.

XERO 279

XERO Invoicing Tax Auditing 279

Xero

JULY 11, 2022

She recommended small business owners look first at what’s available from current tech providers and keep up to date on new developments and functions that can be helpful to their business. . To help get started, Maribel recently shared five steps for small business owners to create their own responsible data use policy in this article.

XERO 326

XERO Accounting Accounting Bookkeeping 326

Xero

JULY 25, 2022

We’re updating several navigation labels to make sure they’re as clear as possible for you: Details — where you capture an employee’s personal details such as address, date of birth and more — is now named ‘Personal Details’. Employment — now named ‘Employment Information’.

Payroll 212

Payroll XERO Bookkeeping 212

Counto

FEBRUARY 5, 2024

In this blog post, we will address some of the most common questions surrounding this GST rate change and provide insights on how to navigate them effectively. What are the transitional guidelines for transactions? How Should I Calculate GST for Services Paid via Credit Card with Instalment Arrangements?

Invoicing 98

Invoicing Tax Payroll Collections 98

Counto

MAY 3, 2024

Choosing the right Fiscal Year-End (FYE) is more than just a date on the calendar—it’s a strategic decision that affects everything from compliance and tax planning to operational effectiveness. This timing facilitates easier inventory management and financial assessment post-peak season.

Financial Reporting 52

Financial Reporting AR Accruals Tax 52

Accounting Tools

OCTOBER 4, 2023

The journal also includes the recordation date, the name of the supplier being paid, a source document reference, and the invoice number. Optional additions to this basic set of information are the payment due date and authorizing purchase order number. Related Articles Purchases Day Book Purchasing System Spend Management

General Ledger 75

General Ledger Purchase Order Accounts Payable Accounts Payable 75

Xero

JULY 11, 2022

After this date: you won’t be able to run any older versions of our reports. There are some reports that won’t be retired on this date, as we are upgrading them in a different way or at a later date. a tips and tricks panel in our most used reports with support articles and how-to videos.

XERO 212

XERO General Ledger Bank Reconciliation Financial Analysis 212

Counto

JANUARY 9, 2024

AGMs are a fundamental aspect of company governance, and this article will provide you with all the information you need to know about them. Your company’s FYE date is typically the anniversary of the FYE date previously notified to the Registrar. What is an AGM? What Matters are Presented During an AGM?

Financial Statements 52

Financial Statements Accounting Accounting 52

Counto

FEBRUARY 17, 2024

Invoice Date : This is the date on which the invoice is issued. Description of Products and Services Rendered : List the name, date, rate, and quantity of each provided good or service to ensure transparency and avoid disputes. Total Due and Due Date: Clearly state the total amount due and the due date to prompt timely payments.

Invoicing 52

Invoicing Record Keeping Account Reconciliation Payroll 52

Accounting Tools

OCTOBER 23, 2023

A typical transaction entered into the purchase ledger will record an account payable , followed at a later date by a payment transaction that eliminates the account payable. Immediately after posting , the balance in the control account should match the balance in the purchase ledger.

General Ledger 67

General Ledger Accounts Payable Accounts Payable Purchase Order 67

Counto

APRIL 10, 2024

All companies, regardless of their incorporation date, can enjoy: A 75% exemption on the first $10,000 of normal chargeable income. Case Study and Expert Insights Consider a hypothetical company incorporated on 1st April 2022, with various key dates and obligations ahead. An additional 50% exemption on the subsequent $190,000.

Tax 98

Tax Corporation Tax Bookkeeping Accounting 98

Xero

DECEMBER 1, 2023

Here’s a quick breakdown of what you need to know: With Basis Period Reform coming into place for the 2024/25 tax year, handling ITSA submissions for clients with non-aligned accounting dates could prove tricky. The post What the 2023 Autumn Statement Means for Making Tax Digital appeared first on Xero Blog.

Tax 225

Tax Financial Records XERO Bookkeeping 225

Counto

JANUARY 6, 2024

Incorporation Date : The date on which the company was officially incorporated and recognized as a separate legal entity. Contains essential details such as your company’s name, registration number, date of incorporation, and business structure (e.g., private limited company, limited liability partnership, etc.).

Collections 52

Collections Accounting Accounting 52

FinOps in Practice

OCTOBER 24, 2023

In this article, we describe block D, devoted to the automated machine learning workflow. From the beginning, we would like to mention that in this article, by ML system, we mean an information system that contains one or more components with a trained model that performs some part of the overall business logic.

FinOps 130

FinOps FinOps 130

Counto

MAY 9, 2024

Note that this update must be made within 14 days from the date of the address change through the BizFile+ portal. Updating ACRA via BizFile+ After confirming your company’s new address , file the change with the Accounting and Corporate Regulatory Authority (ACRA). Failure to do so can result in penalties.

Tax 86

Tax Accounting Accounting 86

Accounting Tools

AUGUST 7, 2023

Additional Information An event provides additional information about conditions in existence as of the balance sheet date , including estimates used to prepare the financial statements for that period. New Events An event provides new information about conditions that did not exist as of the balance sheet date.

Financial Statements 75

Financial Statements Collections Invoicing Accounting 75

Xero

NOVEMBER 30, 2022

You can now access Xero Central support articles without leaving Xero, by selecting the question mark icon in the navigation bar at the top of the screen. You can now sort document packs by the date they were completed, as well as their created and sent date. Get help within Xero — Global.

XERO 207

XERO Payroll Bank Reconciliation Tax 207

Accounting Tools

JUNE 12, 2023

After all transactions have been recorded for a reporting period and all subsidiary ledger balances have been posted to the general ledger, the resulting ending balance in the receivables account is the summary total to be verified through a reconciliation.

Reconciling 75

Reconciling Accounts Receivable Accounts Receivable Account Receivables 75

Accounting Tools

JULY 25, 2023

Related Courses Corporate Cash Management Treasurer's Guidebook What is the Value Date? To avoid this risk, the bank posts the amount of the deposit with a value date that is one or more days later than the book date. This value date is the presumed date of receipt of the cash by the bank.

Deposits 40

Deposits Collections Accounting Accounting 40

Accounting Tools

FEBRUARY 3, 2024

Posting the Cash Receipts Journal The balance in the cash receipts journal is regularly summarized into an aggregate amount and posted to the general ledger. At a minimum, the transactions in the journal should be posted to the general ledger at the end of each reporting period, though posting may be conducted on a daily basis.

General Ledger 40

General Ledger Bookkeeping Accounting Software Accounts Receivable 40

Counto

FEBRUARY 22, 2024

Determining the FYE As stated in the Singapore Companies Act, the fiscal year typically commences on the day of company incorporation and concludes on a date chosen by the company. Businesses commonly select dates for the end of the financial year to be March 31st, June 30th, September 30th, or December 31st.

Financial Analysis 52

Financial Analysis Financial Statements AR Tax 52

Counto

APRIL 16, 2024

Informative Job Posts: Transparency in job postings is crucial. Clear Call-to-Action: Directly propose interview times and dates in your communications to simplify the decision-making process for candidates, ensuring a smoother progression through the hiring stages.

Payroll 52

Payroll Billing 52

Counto

FEBRUARY 12, 2024

Information to Include in the RORC For individual controllers, the register should contain comprehensive details such as full name, residential address, nationality, identification documents, and relevant dates of becoming or ceasing as a controller. Entities that have been struck off need not file their RORC information with ACRA.

Financial Statements 52

Financial Statements Accounting Accounting 52

Accounting Tools

APRIL 28, 2024

These options give the holder the right to purchase employer shares as of some future date at a fixed exercise price. Related AccountingTools Courses Human Resources Guidebook Payroll Management Related Articles Fringe Benefit Rate Post Retirement Benefits Short-Term Employee Benefits Termination Benefits Stock options.

Payroll 40

Payroll Accounting Accounting 40

Accounting Tools

JULY 24, 2023

Related Articles Electronic Check Outstanding Check Post Dated Check Uncleared Check Undeposited Check Unpresented Check Banks charge a fee for this service, since they are providing a guarantee of payment. Terms Similar to Registered Check A registered check is also called a certified check.

Accounting 40

Accounting Accounting 40

Accounting Tools

AUGUST 23, 2023

A memo entry is a transaction that contains no postings to the general ledger. An example of a memo entry is, “On [date], a 2:1 stock split occurred, which increased the number of shares outstanding from 50,000 to 100,000.” Related Articles Accounting Journal Entries Examples of Key Journal Entries Journal Entry Format

General Ledger 40

General Ledger Bookkeeping Accounting Accounting 40

Accounting Tools

OCTOBER 27, 2023

The checks are post dated , so the entity cannot yet deposit them. Related Articles Cancelled Check Outstanding Check Returned Check Uncleared Check Unpresented Check Ideally, undeposited checks should be reported by the recipient in its balance sheet as cash.

Deposits 40

Deposits Bookkeeping Auditing Bank Reconciliation 40

Counto

MARCH 19, 2024

Tax payment due date 1 month from the date of the Notice of Assessment (Tax Bill) to IRAS Did you know? Payment is due within 1 month of the NOA date. Singapore’s tax rate stands at a flat 17%, applicable to the company’s taxable income. For instance, if filed in November 2023, expect the NOA by May 2024.

Corporation Tax 52

Corporation Tax Financial Statements Tax Accounts Payable 52

Jetpack Workflow

APRIL 26, 2023

This article will walk you through how to write a client termination letter and provide you with a termination letter example you can use in your firm. However, we are writing to inform you that we will no longer be able to provide you with bookkeeping services as of [termination date].

Bookkeeping Services 95

Bookkeeping Services Accounting Accounting Bookkeeping 95

Accounting Tools

SEPTEMBER 28, 2023

The ledger tracks the specific payable information for each invoice, which includes the invoice number, invoice date, supplier name, and amount paid. It is used as a subsidiary ledger , from which summary-level information is periodically posted to the general ledger.

Accounts Payable 40

Accounts Payable Accounts Payable General Ledger Accounting 40

Less Accounting

MAY 13, 2024

This article explores the numerous ways in which effective outsourced bookkeeping can bolster small business growth. Additionally, having access to up-to-date financial information facilitates quicker decision-making. Many small businesses find that outsourcing bookkeeping functions can significantly enhance their growth potential.

Outsourced Bookkeeping 59

Outsourced Bookkeeping Bookkeeping Bookkeeping Services Small Business Bookkeeping 59

Counto

FEBRUARY 3, 2024

In this blog post, we’ll explore practical steps to help you minimise payment delays and maintain a healthy financial position. Step 5: Implement Automated Payment Reminders Setting up automated payment reminders can proactively alert clients about upcoming payment due dates, reducing the chances of late payments.

AR 52

AR Invoicing Collections Financial Operations 52

Counto

FEBRUARY 12, 2024

Certificate of Incorporation/Registration or similar document indicating the date and location of incorporation. Provide proof of address using utility or telecom bills, bank statements, or lease agreements that display your name, address, and date. Documents must be in English or otherwise translated into English.

Payroll 52

Payroll Billing Accounting Accounting 52

Counto

APRIL 15, 2024

per month penalty post the 14th of the following month. Special Circumstances: Employees posted overseas or on unpaid leave may not be eligible for CPF contributions for those periods. The CPF Board allows up to one year from the payment date for adjustments, encouraging early rectification to avoid complications.

Payroll 98

Payroll Billing 98

Counto

JANUARY 8, 2024

Step 5: Receive Notification of Effective Date of Registration Upon successful GST registration, you will receive a letter at your registered address, including: Your GST registration number (to be used on invoices, credit notes, and receipts). Approved applicants are usually directly notified by their banks.

Tax 52

Tax Collections Auditing Invoicing 52