Setup Guide: collect these things before you start

Before you start using Xero, complete the Setup Guide to set up your organization. This page lists key information you should collect before you start. You don't have to complete the Setup Guide before you start using Xero, but your reports may not be correct until you've entered all this information.

If you are unsure about what data to gather or where to get it from, please ask your advisor. If you don't have an advisor, view our list of advisors who are trained and ready to help you use Xero.

To complete the 10 steps of the Setup Guide, organize these things now.

If you don’t have some of this information, you can skip the step in the setup process. You or someone with the Advisor user role can go back later to complete or change what you've entered.
  1. Legal name of your organization.
  2. Financial year end for your organization.
  3. Sales tax settings for filing sales tax returns for your organization.
  4. Business logo, payment terms and a starting point for your invoice/credit note numbering sequence.
  5. Email address of your accountant or bookkeeper or someone else to help set up your organization (if you need help).
  6. Your chart of accounts or a list of categories to organize your accounts by (for example, Rent, Stationery, Sales).
  7. Your bank and credit card account numbers for accounts you want to set up in Xero.
  8. Last tax return or other documentation to work out tax rates to set up in Xero - This is so you pay, charge and record sales tax correctly on transactions you enter into Xero. If you are required to report on certain components within a sales tax rate, you’ll need to know what these rates are and the percentages of each one.
  9. Accounting balances - If your organization has been operating before moving to Xero, run a report, such as a trial balance, from your previous accounting system showing account balances as at the day before you start using Xero. Xero calls these 'conversion balances'. If you don’t have a report, use the balances from your bank accounts or chart of accounts/categories.
  10. Outstanding invoices, bills, credit notes and uncleared funds - All outstanding invoices, bills and credit notes from before switching to Xero. If you have uncleared funds (or unpresented checks), you'll also need this amount.

If your conversion date is in the past and you've carried on business since then, then as far back as your conversion date you'll also need:

  • Invoices and bills
  • Bank account and credit card statements

to import into Xero.