Converting from MYOB to XERO

Kelly Migro - Saturday, February 18, 2012

Are you using MYOB and want to move to the cloud with Xero? There are a lot of factors to consider with converting from MYOB to Xero:

  1. What date are you going to convert from? - you can't pick a random date, you have to think about BAS returns
  2. Do you want to keep your existing MYOB chart of accounts (account codes) or is this now the time to start fresh with how you have always wanted them to be?
  3. Do you have unpaid creditor (accounts payable) invoices which were entered in MYOB? These need to be entered into Xero too so that they can be paid.
  4. Do you have unpaid debtor (accounts receivable) invoices? These need to be entered into Xero as well.
  5. Are all of your bank accounts reconciled? and can you start bank feeds from the same date as your conversion date?
these are only a few things that need to be considered, there are many more as well.  As you can see you can end up spending a lot of time which is spent with any software converting from one to another.   Just remember the long term benefits of switching to Xero will outweigh these short term costs.

To make sure that your Xero file is set up correctly e-accountant can do the work for you, for a flat fee have a look at our Xero Setup and Training Prices.

If you are using payroll in MYOB ask us to quote on converting your payroll over to Xero as well.


Paycycle integration with Xero - update from Xero Road Show

Kelly Migro - Saturday, February 18, 2012

The Xero Roadshow came to Perth on Friday, I have been to the previous two events they had where it was held in a small room with about 20 Xero Partners, this time the room was at full capacity bringing in extra chairs with over 120 people.  This shows how more and more accountants and bookkeepers are embracing Xero and there will be more business using it.

Did you realise that Xero have not done any advertising in Australia, it has all been via social media and the uptake of the software has been amazing.  This shows how social media, twitter, facebook and blogging really do work! If you need help with social media make sure you contact e-assistant. However you will start to see advertising of Xero soon through banner advertising, so next time you talk about Xero and how much you love it more people will know what it is.

The main reason for attending the Xero Road Show was to find out about the Paycycle Integration into Xero.  Any of my clients requiring payroll I put them onto Paycycle paying a separate subscription for this, but mid last year it was announced that Xero had purchased Paycycle and were going to integrate it into the Xero software, and then better yet it would be included for no extra cost with the medium or large subscriptions.  This is on track to be fully integrated at the end of April and in the meantime have had to pay separately for Paycycle.  The great news is that from 1st March if you have a Xero and Paycycle subscription the Paycycle subscription will now be free! You may have to upgrade to a new pricing plan for Xero, but you will still be ahead financially.  See below to see which pricing plans suits you best with payroll:

If you are wondering why Paycycle is such a great payroll software then read more on my blog Why I am Loving Paycycle.


Streamtime - Total Studio Management

Kelly Migro - Sunday, February 12, 2012

Streamtime is a cloud based application designed for the advertising, interactive and graphic design industries. It is a complete traffic and production management software for studio management including:

  • Customer Relationship Management (CRM)
  • Resource Planning
  • Calendars and Diary
  • Quoting and Estimating
  • Customised Stationery
  • iPad & iPhone Application
  • Manage Work In Progress in real time (WIP)
  • Easy to use interface
  • Time Sheets
  • Invoicing and Accounts Integration with Xero
  • Reporting
  • Client Web Application
Best of all is the integration with Xero, so your invoices sync to the Xero for all of your financial and management accounting needs.  Streamtime offer a 30 Day Free Trial so that you can see how it works hands-on.


RightSignature - Electronic Signatures

Kelly Migro - Sunday, February 05, 2012

Xero posted a blog about a new add on partner of theirs RightSignature which is an easy and fast way to get your documents filled out and signed online, including being able to get your customers to e-sign documents while traveling using the free iPhone and iPad e-signature apps.

Using RightSignature with Xero allows you to:
  1. Send Xero invoices and draft invoices for e-signature from the RightSignature Send screen
  2. Sync your Xero contacts in RightSignature for quick document sending.
  3. Your customers review, fill out and sign online in any web browser, or even on an iPad, iPhone or Android
  4. Signed documents are legally binding.
If you want help with this and integrating it with Xero or using it by itself contact us.

Need help setting up a bank account and bank feeds in Xero?

Kelly Migro - Thursday, February 02, 2012


Need help with setting up a new bank account in Xero, or want to know how to activate one of the best features of Xero which are the Bank Feeds? Then check out this video!



Xero Online Accounting Software and the Mining Industry

Kelly Migro - Saturday, January 28, 2012


I have worked directly as a financial accountant for various mining and exploration companies for over 10 years, if you are interested in which companies I have worked for check out my linkedIn profile.  These have covered various stages of a mines life from exploration, feasibility, mine development, production and care & maintenance.

Most junior explorers when looking for an accounting package they look for something simple, cheap and what most bookkeepers know how to use which is MYOB.  Whilst MYOB can do the job of entering invoices, raising payments, payroll and reporting it doesn't make life easy. Reports aren't easily customisable which results in data exported to excel and reports prepared manually which is time consuming.  The most important requirement for exploration and mining companies is tenement expenditure reporting to the Department of Mines and as anniversary periods do not run a financial year calendar then in MYOB you need to run two reports and combine them externally in excel.  Another problem that I have encountered is that job costing codes can be used to track tenement expenditure but if you also want to track expenditure to various projects then you have to enable and use categories, which only one category can be used per invoice and can mean one invoice has to be entered as multiple invoices if coded to various categories.

Through specialising in cloud based accounting software I have found that Xero is perfect for junior explorers.  Reasons for it working so well is:

  • Allows for your own coding structure to be setup, no set numbering structure. However many digits or characters you want to use.
  • Expenditure accounts can be classified as either Overheads, Direct Costs and Expenses.  This allows for Corporate expense account to be "Overheads" and exploration expense accounts to be "Expenses".
  • Reports can be customised easily
  • Annual Tenement Expenditure reports (Form 5) can be generated for the full year from the start of the anniversary to the end
  • Xero allows for two tracking codes to be set up, allowing for Project and Tenement
  • One invoice can be entered against various Projects and Tenements
  • Line items for an invoice need to be entered as a unit, which means that instead of entering as 1, if an invoice is to be split against multiple tenements then it can be done as a percentage without having to work out the amounts manually.
  • Reporting on tracking codes is easy, and soon budgets will be able to be entered into Xero against tracking codes which will increase the reporting capabilities.
  • Xero can grow with your business which MYOB cannot, with an ever evolving array of API partners so that additional software can be integrated with Xero automatically.
  • As the company grows and the number of staff grows, new users can be added to Xero for data entry, reporting or approving of invoices at no extra cost.  It can also be accessed from anywhere in the world with an internet connection so even out in the field if need be.

Whether you are wanting to stay with MYOB, make the switch to Xero or setup your new company on Xero, E-Accountant Pty Ltd knows the reporting requirements for Exploration and how important it is to get Tenement Expenditure Reports like Form 5's lodged on time. Contact us for more information as to how we can implement Xero for you.

Looking for a Job, Time, and Invoice Management Software to integrate with Xero?

Kelly Migro - Thursday, January 19, 2012


WorkflowMax is an online job management software, that's simple and easy to use. We use it for our own invoicing and love it!  It integrates with Xero automatically which means no need to enter your invoices twice, just once in WorkflowMax.

WorkflowMax is suited to business which requires invoicing from timesheets and oncharging costs.  Quotes can be prepared and purchase orders created. The Project Management function allows scheduling of jobs and making sure deadlines are met and on budget.  It is a great CRM and lead management tool.

Invoices can be prepared on the quoted price or actual cost, allowing you to see how much a job has actually cost and the profit.

Some of the industries which use WorkflowMax include:

  • Electricians
  • Plumbers
  • Builders
  • Painters
  • Landscapers
  • Roofers
  • Cleaners
  • Advertising Agencies
  • Graphic Designers
  • Photographers
  • IT Support
  • Lawyers
  • Engineers
  • Accountants
  • and more...
Contact us to find out more about WorkflowMax.

How to make sure the person doing your accounts and BAS is a BAS Agent

Kelly Migro - Thursday, January 05, 2012


Did you know that a person, partnership or company cannot charge a fee for preparing your Business Activity Statement (BAS) unless they are a registered BAS Agent with the Tax Practitioners Board?


The Tax Agent Services Act 2009 and Tax Agent Services Regulations 2009 were introduced last year and to be registered as a BAS Agent one must have the necessary education and work experience to complete a BAS.


You can check the BAS Agent Register to make sure that the person preparing your accounts and lodging your BAS return are a registered Tax or BAS Agent. Both Kelly Migro and E-Accountant Pty Ltd are BAS Agents.  We are able to lodge your BAS returns electronically whether you are using MYOB, Xero or an excel spreadsheet.

Xero now handles Overpayments and Prepayments!

Kelly Migro - Wednesday, November 23, 2011

One of the biggest problems I have faced with Xero and clients is when their customers pay them too much for an invoice, until today Xero has not allowed for this and it has caused a lot of frustration as payments could not be allocated to a customer until another invoice was issued hence then it looks like the customer hasn't paid!

With todays new release of Xero it finally allows for overpayments and prepayments! Check out Xero's demo video below.

Also in this release:

  • Ability to change your xero login email address
  • Address lookup feature using sensis, not sure of the postcode don't worry it will look it up
  • Warning for duplicate invoice numbers, so no double paying of expenses
  • Profit & Loss report can be prepared with a variance amount

Still to come which will only make Xero even better are: Discounts on invoice line items and remittance advices.

The best thing about using a Cloud Software like Xero for your accounting is that you always have the latest version of the software without having to do any software upgrades, and this all happened while we were asleep in Perth!

Creating custom invoices in Xero

Kelly Migro - Monday, October 24, 2011


If you have access within Xero to customise how your customer invoices, credit notes and statements look. You can change the standard theme which is created by Xero as a default or create a new theme, alternatively you can create you own custom .docx themes by changing fonts, colour and the placement of fields.

Check out our video below or contact us and we can set up your invoice templates or teach you how to.

Get in touch:

Phone Kelly on:
08 9467 2528

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