I have been loving this series! Are you able to run us through tax as a sole trader (side hustle which is eBay) through MyGov and how to file it yourself. Also if eBay fees, shipping (the buyer pays) could be a deductible. Thanks :)
Ethan what are the advantages of Zero? I do bookkeeping part time & have clients that use QB (hate it) & in the past have used MYOB & more integrated systems. I haven't used Zero so would like to know why you choose that one. Thanks
I personally find Xero the easiest to use while also have a great range of features. Therefore I can use it to do bookkeeping or year end reports, plus a small business client can use it to do their invoicing etc.
Great video Ethan. Is there an easier way if I wanted to duplicate an existing Xero file being used by another Xero subscriber (I am buying their business through a new legal entity). That way I could get their history and set-up then just replace bank account/make opening adjustment entries on acquisition date.
Thanks! I don't believe you can duplicate a whole file, I think that goes agains the Xero T & Cs. You could export the chart of accounts and import that. I do also believe you can export contacts but you obviously wouldn't have sales history etc.
I’m in the process of changing our business from sole trader to a trust. Is there a way to change it over or do I need to set up new Xero account with our new business abn from scratch?
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If you need help with your Xero setup, just let me know and I will be happy to have a chat!
I have been loving this series! Are you able to run us through tax as a sole trader (side hustle which is eBay) through MyGov and how to file it yourself. Also if eBay fees, shipping (the buyer pays) could be a deductible. Thanks :)
Glad you've been loving the series. I'll definitely touch on some deduction areas in future videos.
Ethan what are the advantages of Zero? I do bookkeeping part time & have clients that use QB (hate it) & in the past have used MYOB & more integrated systems. I haven't used Zero so would like to know why you choose that one. Thanks
I personally find Xero the easiest to use while also have a great range of features. Therefore I can use it to do bookkeeping or year end reports, plus a small business client can use it to do their invoicing etc.
Great video Ethan. Is there an easier way if I wanted to duplicate an existing Xero file being used by another Xero subscriber (I am buying their business through a new legal entity). That way I could get their history and set-up then just replace bank account/make opening adjustment entries on acquisition date.
Thanks! I don't believe you can duplicate a whole file, I think that goes agains the Xero T & Cs. You could export the chart of accounts and import that. I do also believe you can export contacts but you obviously wouldn't have sales history etc.
Go for it buddy.
Thanks!
I’m in the process of changing our business from sole trader to a trust. Is there a way to change it over or do I need to set up new Xero account with our new business abn from scratch?
New entity = new Xero file is normally the advice