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A Step-By-Step Guide to Setting Up Xero Accounting Software

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What You Need to Know

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How to Sign Up for New Xero Account

Step 1:

Go to and click the green “Try Xero for free” button to take advantage of the 30-day free trial. Enter your details and agree to the terms and conditions to get started. Then, Xero will send you an activation email. Click the link in the email to create a password and activate your Xero account.

Step 2:

After having activated your account, you are ready to add your business. You can fill in all your business information, including your business name and what your business does. Xero automatically selects your region, time zone, and relevant currency based on your location. Finally, select your financial year-end and whether you have any employees. Depending on your region, you may be able to use one of Xero’s conversion partners to help you. Since some conversion partners will create a Xero organization for you, you may check with them to see if you need to add an organization for your business first. To finish, click “Buy Now” or “Start Trial.”

Step 3:

Once you have added your Xero organization, you are ready to choose a conversion date by navigating to "Accounting" -> "Advance". The conversion dates are usually the day you start using Xero and are the date of your opening account balances. On the conversion balances screen, you may update your conversion date by clicking the conversion date at the top and selecting the month and the year. The conversion date will always be the first calendar day of the month that you select. Before you choose the conversion date, think about how this impacts your business. Xero recommends you choose either the first month of the financial year or the start of a tax period. If you are using a conversion partner to bring in data, please make sure you choose a date that is in line with the data you are migrating over. Click 'Save', and you are all set.

How To Leverage Xero To Manage Your Daily Accounting Requirements

Once you have set up your account successfully, you will have access to a demo account, allowing you to play around with Xero and understand all the extensive features and tools within the platform.

Business Settings

If you navigate to the top left corner of your demo account, you will see the option settings, which include all your business settings.

Organization Details: This is where you can create invoices and automatically send them to your clients through Xero.  You may select and fill out your business information, contact details, and what you want to include in your invoices.

Users: This is where you can add other users to your Xero account. You can also modify the type of permission level that they have in your organization.

Currencies: This is where you can manage the currencies your business uses.

Connected apps: This is where you can browse some essential apps that you want to connect with your Xero account.


There are many sections on your Xero dashboard. You may add additional sections by clicking “+” at the top right corner and hide figures by using “Edit Dashboard” at the bottom.

The Business Bank Account section will automatically import your transactions after you have connected your business bank account with Xero. This section helps you manage and balance your accounts with complete ease by reconciling all your different transactions. You may connect your bank account under "Accounting" -> "Bank Accounts".

The Total cash in and out section includes a snapshot of your cash in and cash out for the last six months.

The Account watchlist section displays the accounts that you would like to keep an eye on. You can add accounts that are important to you that you want to have handy on your dashboard. To add a new account, you can navigate to "Accounting" -> "Chart of Accounts".

The Invoices owed to you section has snapshots of invoices that are owed to you. You may also navigate to new sales and create an invoice from your dashboard.

The Bills you need to pay are similar to Invoices owed to you: You can create a new bill from your dashboard.

How Can Shypyard Help You Integrate Xero and Shopify?

Using Shypyard’s Xero connector, you can easily sync your eCommerce data and automate your accounting workflows between your online Xero account and Shopify store. Our connector ensures seamless synchronization between your invoices, payments, products, and stock levels within your Shopify and Xero accounts. Shypyard can save you time and money by automating your sales and accounting workflows. Start today with a 14-day free trial, no credit card required.

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