Xero's Chart of Accounts Explained

Void Bills in Bulk

You can now void awaiting payment bills or delete draft bills in bulk 🎉

Can you believe we used to have to do this manually??? Of course, some had their own scripts.

Either way, this has been a long-awaited feature and is now live in the product.

New AI-Enabled Help Center

This may have been out for a little while but you can now turn on/or off the AI feature to help you find what you need faster.

This feature generates an answer to your question by sourcing from all the help center articles available.

It’ll give you a short(er) and concise answer along with the sources that it pulled from.

Pretty neat.

The Chart of Accounts in Xero:

Navigate to the chart of accounts by going to Accounting > Advanced.

Or it should already be favorited for you in the main menu.

You can add new accounts manually or in bulk:

Xero has system accounts like accounts receivable and payable. These accounts are tied to Xero’s modules.

You cannot edit these because Xero would not work properly without them.

If you have the advisor role, you can also create a templated chart of accounts that can be used when new clients are created in Xero.

What Makes Xero’s Chart of Accounts Different:

No sub accounts

Unlike QBO, you don’t create sub-accounts at the COA level. Instead, you group the accounts in Xero’s reports.

This gives you greater flexibility to move accounts around as needed without having to recode transactions between accounts.

This is because you can drag and drop accounts or ungroup/group accounts anytime.

If you’d like an overview of the COA check out this video below:

Bulk importing and changes are not covered in this video.

Book Your Hotel Before It’s Booked Out

If you’ve got a ticket to Xerocon this year make sure to book your hotel before the discounted rates disappear!

Find Xero’s blocked rooms below:

Stay tuned, I’ll be releasing a free Xero course soon to help you get started with Xero.

-Tam