🎁 EXCLUSIVE DEAL - Get 90% Off Xero for 6 months by signing up here: bit.ly/ytxero90 ✅ Get your FREE Xero Setup Checklist here: bit.ly/3ZgSaqt 👉 Master Xero without getting stuck with The Ultimate Xero Course for Australia: bit.ly/3CFkMkl ►► Do you wish you could get step-by-step instructions for setting up and using Xero quickly and easily? ►► Do you want clear explanations in plain English with all the information in one place? ►► Do you want to feel confident that you’re doing it right? 🚀 Then check out the step-by-step program for business owners to master Xero without getting stuck: bit.ly/3CFkMkl
This was incredibly helpful, thank you so much! I do have a question - Even though I am creating the invoice in Xero, I should still create a new ledger item and not match it to the invoice? I worry about doubling up on entries if I create new ones like shown in the video. Or are the two not related?
I just had to switch to Stripe from WePay since WePay is about to drop off from Xero. If a customer pays through the Xero invoice it should be able to match automatically/easily when you're reconciling right? making it so you don't really need a rule right? the fee and the payout makes sense to have rules though.
Thank you so much for the video, just quick questions about the Stripe fee tax code. As I know stripe fee has tax on it, does it has GST on it? can you please explain more why you use BAS excluded. Thank you
The Xero file I used for the demo wasn't registered for GST so all accounts were set to BAS Excluded. So yes, if you are registered for GST you need to use the GST on Expenses tax rate for Stripe fees.
@@mark-and-trina My apologies. To clarify, I use a CRM app to collect payments and it uses Square as the processor, so the integration between Square and Xero won't work. I tried adding Square as a bank and it wasn't an option.
🎁 EXCLUSIVE DEAL - Get 90% Off Xero for 6 months by signing up here: bit.ly/ytxero90
✅ Get your FREE Xero Setup Checklist here: bit.ly/3ZgSaqt
👉 Master Xero without getting stuck with The Ultimate Xero Course for Australia: bit.ly/3CFkMkl
►► Do you wish you could get step-by-step instructions for setting up and using Xero quickly and easily?
►► Do you want clear explanations in plain English with all the information in one place?
►► Do you want to feel confident that you’re doing it right?
🚀 Then check out the step-by-step program for business owners to master Xero without getting stuck: bit.ly/3CFkMkl
Thank you so much for the Bank Rules video, you have just saved me hours a week. A very clear and comprehensive explanation. :-)
Glad to have helped!
This was incredibly helpful, thank you so much!
I do have a question - Even though I am creating the invoice in Xero, I should still create a new ledger item and not match it to the invoice? I worry about doubling up on entries if I create new ones like shown in the video. Or are the two not related?
I just had to switch to Stripe from WePay since WePay is about to drop off from Xero. If a customer pays through the Xero invoice it should be able to match automatically/easily when you're reconciling right? making it so you don't really need a rule right? the fee and the payout makes sense to have rules though.
Thank you so much for the video, just quick questions about the Stripe fee tax code. As I know stripe fee has tax on it, does it has GST on it? can you please explain more why you use BAS excluded. Thank you
The Xero file I used for the demo wasn't registered for GST so all accounts were set to BAS Excluded. So yes, if you are registered for GST you need to use the GST on Expenses tax rate for Stripe fees.
@@mark-and-trina you just saved me a call to the accountant ! Cheers !!
Could you show us how to set up rules for Square transactions? I'm uploading them as a CSV.
Have you set Square up as a bank account in Xero and integrated the two systems so your transactions can automatically flow from Square to Xero?
@@mark-and-trina My apologies. To clarify, I use a CRM app to collect payments and it uses Square as the processor, so the integration between Square and Xero won't work. I tried adding Square as a bank and it wasn't an option.
Thank you so much for this video 😊
My pleasure 😊
Thank you so much for this!
You're so welcome!
Cheers! Your the best! Thank you.
You're welcome!