Setting your Conversion Date
The conversion date (or start date) is the date you've chosen to start entering your day-to-day transactions into Xero. You can change your conversion date (or start date) if necessary although if this affects the balances you put against your accounts as at the original date you wanted to start using Xero, you'll have to update these (and possibly historical transactions) as well. Sometimes you will be prompted to save or confirm your conversion date if you've made change to historical data that impact this date i.e. conversion balances or historical invoices, bills or credit notes.
To get to the Conversion Date screen go to Settings > General Settings > Conversion Balances and click on the 'Conversion Date' button. Only users with a Standard or Advisor user role can access this screen and in some cases you will be prevented from making changes if your accounts have been locked.
As a general rule, the conversion date is the date you start using Xero. You should only have transactions and invoices or bills in Xero that occur after this date. Anything before this date should be balances from your previous system or historical invoices or bills. If you are unsure about changing the conversion date, we recommend you consult your accountant or bookkeeper. Go to Settings > General Settings > Users to give your accountant or bookkeeper access. Your financial reports for the current year won't be accurate in Xero until you have the correct conversion date and conversion balances entered. If you'd like to understand a bit more about what's going on behind the scenes, refer to our guide The accounting behind Xero conversion balances.
Choose a date to start using Xero
Note: only users with the Advisor user role can update the conversion date if your accounts are locked as at this date.
Check your role (Settings > General Settings > Users) and lock date (Settings > General Settings > Financial Settings). If you do not have the required permission to update the conversion date, the new date entered won't be saved. If your user role allows it, you can change your role to the Advisor user role, or invite your accountant or bookkeeper and give them this role in order for them to make the change.
If a lock date has been applied to your organization, then you may not be able to make changes to conversion balances or comparative balances before that date. Read more about setting and working with lock dates. Our Getting Started Guide also has some tips for choosing a conversion date.
Your conversion date will be saved. If the date has been updated, you will be prompted to confirm your conversion balances.
Any change to the existing date will not be saved.