Using Xero
Q: Is Xero Available on mobile?
A: Yes, you can download the Xero mobile application on most mobile application platform(like the App Store or Google Play). There are different features can be use in the application, such as managing invoices, bill and carry out bank reconciliation. You can also view some of your financial figures and reports as well.
Q: Is Xero accessible in China? Does Xero support the accounting system in China?
A: There is currently no regional specific version of Xero for China, however, you are still able to use the Global Version of Xero for a company in China. The only regional specific editions of Xero at the moment are New Zealand, Australia, United Kingdom, and the US.
Q: Is my data secure in Xero?
A: Yes, Xero is a cloud based accounting system and certified as compliant with ISO/IEC 27001:2013, which is globally recognised as the premier information security management system standard.
Q: Can I use Chinese characters for Invoice Settings?
A: Yes, you can use Chinese characters in Xero's invoices. To do so, set the font style in the invoice template to Arial, it then can print out the invoice in Chinese. Besides, you can use custom templates to generate Chinese invoices.
Q: My sales revenue is based on subscription model, I received the payment once a year, do I need to create a new invoice year by year? Can I have the reminder when the payment date is due?
A: You can use the Repeating Invoice function in Xero, you can create a repeating invoice template for invoices and send it out regularly. After setting up the repeating invoice, the invoice will be generated automatically and saved it as draft or approved invoice, but it does not have for you. Please click the following link for more detail and follow the steps to create a repeating invoice template.
https://central.xero.com/s/article/Add-or-edit-a-repeating-invoice-template-US-GL https://central.xero.com/s/article/How-invoice-reminders-work
Integration
Q: For Bank reconciliation, can I easily import all the transactions from the bank and import it into Xero afterwards?
A: After a bank statement is created by bank feed or imported using csv file, the bank transactions will be shown on the left hand side of the bank reconciliation section. Some bills and invoices should be created before, then Xero will try to match with them first. You can also use the Create function on the right hand side to add all the spending/ receiving money transactions back to Xero. Yes, but it will not create bills or invoices automatically.
Accounting
Q: How can I define the Research and Development items as expenses and fixed assets?
A: In general, R&D expenses can be capitalised if the materials and fixed assets have been acquired that have alternative future uses, record them as assets. The materials should be charged to expense as consumed, while depreciation should be used to gradually reduce the carrying amount of the fixed assets. Conversely, if there are no alternative future uses, charge these costs to expense as incurred.