Xero for Beginners: Don’t Skip These Setup Steps

Get 90% off Xero for six months here: https://financialtechlab.com/Xero Need a chart of accounts reference? Download the free COA template here: https://financialtechlab.com/coa Getting started in Xero is faster than you might think, but there are a few setup steps you don’t want to rush. This walkthrough covers how to create a new Xero organization, connect bank accounts and credit cards, manually import transactions if a bank feed doesn’t work, and customize your chart of accounts before you start coding transactions. Jump to: 0:00 Intro to Xero setup 0:26 Xero discount and affiliate link 1:24 Creating a new Xero organization 2:14 What to set up first 3:24 Connecting bank accounts 5:11 What to do if a bank feed doesn’t work 7:28 Importing transactions manually 10:38 Reviewing accounting settings 12:05 Customizing the chart of accounts 14:48 Xero chart of accounts limitations 18:19 Importing chart of accounts changes with CSV 19:25 Why setup matters before coding transactions 20:17 Free chart of accounts resource 21:04 Final setup recap Here are some of the tools I trust and recommend to help you manage your business finances more effectively. These are affiliate links, which means I may earn a small commission if you use them—at no extra cost to you. Thank you for supporting the Clara CFO channel! 🔢 QuickBooks Online – 30% Off for 12 Months plus 30-day Free Trial https://claracfo.com/QBO Get organized with the most popular small business accounting software. 🏦 Relay Bank – Get a $100 Bonus https://www.claracfo.com/relay Modern banking designed for business owners. Sign up and deposit $100 to claim your bonus. 👥 Gusto Payroll – Earn $100 https://claracfo.com/gusto Run payroll and receive a $100 reward—perfect for growing teams. 💰Monarch Money – Extended 30-Day Free Trial https://claracfo.com/monarch Smart personal finance software for entrepreneurs and families. 📊 RC Reports – Get $50 Off a Compensation Report https://claracfo.com/RCReports Ensure your S-Corp salary is IRS-compliant with a professional comp report. Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at https://claracfo.com/ Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.