How to set up NZ GST in AUD Xero File

You are an Australian company that is registered for both Australian and New Zealand GST.  You use Xero.  You are required to make a lodgement in both countries, and must track GST in your Xero file.  Is it possible to do this? Xero has not been designed to track GST in multiple countries, however following […]

Xero Foreign Currency Supplier Invoices and how to record Deposits Paid to Overseas Suppliers

Xero works beautifully with foreign currency, but you will need some training to learn how to use this feature in Xero. We work with new ecommerce businesses on a weekly basis.  During the set up stage, many of our ecommerce businesses make their first purchases overseas and import product into Australia.  This video covers how […]

Foreign Currency

Both Xero and MYOB offer foreign currency options on certain subscription levels.  The area is very complex, and requires proper setup and month end procedures.  Most of the complexity relates to the fact that exchange rates change every day, which create unrealized gains and losses.  If you have bank accounts held in other currencies, sell […]