Accounts
To create a new account:
- Go to Menu > Finance > Accounts > Create New Account. Your screen will look similar to this:
- Complete the relevant fields. Below is a description of each field:
| Field | Description |
|---|---|
| Tax Type | Choose from the Tax Types that you have created. Make sure they match exactly with the name of the Tax in Xero. |
| School | This is the school that this Account refers to. |
| Name | The name of the account. This should match the name of the account in your Chart of Accounts in your accounting software. |
| Description | Use this field to add any comments to help the user understand what this account is used for. |
| Code | The code of the account. This should match the code of the account in your Chart of Accounts in your accounting software. |
| Account Type | This is the type of the account – according to your Chart of Accounts. E.g. Liability, Asset, Income, Expense etc. |
To edit an account once created, click Edit.
- Click Save.