Can I Use Xero If I Have No Accounting Experience Whatsoever?

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This video is a review of Xero accounting software, this is part of a series of videos on Xero accounting. Hi, my name is Joel and I'm an accountant. In this video I am going to be talking about "Can I use Xero if I have no accounting experience whatsoever" ? This video is part of the ask CIB series. By the end of this video you will have a better idea on whether Xero is the program for you. You may have heard about Xero and its many great features and it is a terrific product, what I would say though is that if you have never done Accounting, never done any bookkeeping and you want to use Xero I would recommend that you get someone to help you. Even though it has many features which make it easy such as automated bank feeds at the end of the day the information that you put into your accounting system will determine the quality of what comes out. If you're not quite sure about accounting, how to record transactions, whether there should be any GST on items, whether there should be any tax then I wouldn't recommend Xero if you aren't going to get some help. Having said that you only potentially need a little bit of help at particular points. So what I mean by that is for example if you get someone to set up the file for you and show you how to record expenses, code transactions of the bank account and prepare invoices then with a little bit of training it would be easy for you to do the bulk of work that's required to keep the Xero file up to date. I'd still recommend that you get a bookkeeper or an accountant to review your work so once a month or once a quarter and help you with some of the things like for example preparing your Business Activity Statement if needed. In summary Xero is a terrific product, it's great for people and a great way to save time however if you don't have any accounting or bookkeeping experience you definitely need someone to help you to make it worthwhile. If you would like to talk to someone about using Xero in your business please contact us at CIB Accountants. If you would like additional tips or ideas for your business please subscribe to our channel or send us an email via ask@cibaccountants.com.au . Alternatively tweet to us using the hash tag #askCIB. website: http://askcibaccountants.com.au twitter: http://twitter.com/askcib