Featured Insights.
Quick Search
By Industry 
Manufacturing in Xero Part 2
Method 2 - The monthly manufacturing process (no finished goods are represented in inventory) The basic idea behind this approach is to buy in raw materials, and track the quantity and value of those raw materials. Then when you sell a finished good perform an extra step to reduce the raw materials used in that sale to create the correct cost of sale. You set this up by: Creating tracked inventory items in Xero for all your raw...
Read More
Manufacturing in Xero Part 1
Xero Inventory Xero’s inventory module allows you to purchase in and sell inventory items using the average cost method. This means if you purchase inventory, Xero will store the quantity on hand and the average cost of that inventory, and represent the sum of those amounts on your balance sheet under inventory. This is preferable over immediately recognising any stock purchases as an expense, as when the item is sold the average cost of that inventory item will...
Read More
Systems Newsletter – Fixed Assets In Xero, DEAR Features And New Systems
This has been a month of new learnings and research for the Creative CFO systems team as we continue to explore various pieces of software to meet the needs of clients as well as our own. Follow us as we take you on a fixed asset walkthrough, harnessing all that DEAR has to offer and some scheduling software used by the likes of Amazon and MacDonald's - home to the famous Big Mac. 1....
Read More
Systems Newsletter – Systems VAT Update
April has been a busy month so far, with the new South African VAT rate now in full swing. Here is a summary of what we expected, what actually happened and any systems changes that may still be required. 1. XERO what we expected New 15% rate added Old rate renamed Default inventory and contact rates changed to 15% what actually happened The new rate appeared in Xero The 14% rate was only renamed if you...
Read More
South African Taxation Considerations of Virtual Currencies for Individuals
Background Cryptocurrency is a virtual or digital currency that can be digitally traded as a medium of exchange. Virtual currencies were designed to be a type of currency which is solely controlled by its individual user with peer-to-peer technology to operate and removes the central or commercial banks from the process. Although virtual currencies were originally designed as a type of currency, they are currently being treated as high-risk speculative investments due to their price volatility. Consequently,...
Read More
Systems Newsletter – VEND/YOCO Integration
December was an exciting month in the space of integrations, and the new VEND-YOCO integration is making waves. There is now a high-level integration between VEND POS and the YOCO payment service. Previously, when checking out on VEND, one had to tap the "Credit Card" payment type on iPad and manually enter the payment amount into the merchant payment device (card machine). This process used to take a fair amount of time and allowed room for error as...
Read More