Xero Cashbooks application is a lighter and cheaper version of the Xero Business Edition. You must be a Xero partner to use a Cash Books subscription. Individuals or businesses can not directly subscribe to the CashBook solution. There are three versions of the Cashbook edition. The software offers PST, VAT, GST, and extra taxes features. You can also use the app without GST functionality. It might be the best option for those who wish to track personal finances.
Cashbooks software with GST is suitable for start-up companies, dormant companies, investment entities, market stall holders, property trusts, sole traders, and contractors. Use the CashBook edition if you want a simple business structure and do not require invoicing. However, you can also update it to the business edition whenever possible. Xero Cashbook with GST support has file storage, budget manager, reporting, and activity statement features. Xero also offers a demo version of the Cashbook application.
What Are Xero Cashbooks?
Xero Cashbook is a plan for Xero’s bookkeeping and accounting partners. It includes all the features of the Xero Payroll tool. You can manage payroll tasks for up to four employees. It delivers features and tools to manage your business digitally. You will get features like Bills & Invoices. Xero offers three plans for the CashBook Edition-
- Starter.
- Standard.
- Premium.
Firstly, check your eligibility for the Xero partner program. After that, choose a suitable plan for you and your company.
Xero Non-GST Cashbook
As the name suggests, the application is for clients who do not need GST reporting or invoicing. The app allows you to get daily bank feeds for banking transactions. It lets your client enter their transaction details. Xero Non-GST Cashbook users can also view their reports and data.
Read More:- Xero Invoices Template: Setup Guide For New Users [2022]
Xero GST Cashbook
The Xero GST Cashbook lets you manage GST reporting. It does not include Invoicing functions. You will be able to generate GST returns. Your clients can enter transactions, view data, and generate reports.
Xero Cashbooks & Xero Ledger
Bookkeepers and accountants can add clients to Xero using the CashBook and ledger app. But, it requires a partner program. It offers several benefits like practice tools, client access, reports, reconciliation, and import transactions. Xero lets you import transactions from your banks. You can also import it from the Downloads folder. You will get automated bank records and powerful reports. It allows you to manage client accounts and set up your staff.
On the other hand, Xero Ledger is only for those clients who do not require GST reporting but need annual account preparation. The Xero Ledger tool includes document storage, financial statements, fixed asset management, budgeting tools, and banking reconciliation features. You can also use the Xero file library with the Xero Ledger application.
Benefits Of Xero Cashbooks Application
The application offers several tools to manage your business. Here are a few benefits of the app-
Import Banking Transactions
The app lets you import banking transactions into your Xero account. You can also reconcile them regularly for accurate accounting. It lets you connect to your banks. As a result, you will get daily bank feeds on the dashboard. You can download the banking transactions and import them into your Xero Cashbook or Xero Ledger application.
Reconcile & Report
The Xero cashbook and ledger plans provide financial statements, budget tools, fixed asset management, and banking reconciliation. The application has automated transaction matching features. As a result, you can reconcile transactions from the bank easily. It allows you to manage your assets, prepare budgets for your business, and generate reports.
Clients Access
The app lets you grant access to the clients. You can choose the Starter, Standard, or Premium plan based on the client’s requirements. After that, you can set up the account and manage them. You can view data from the CashBook app and reconcile transactions.
Practice Tools
You can use Xero practice tools with Cashbooks and Ledger. The practice tools allow you to connect to Xero Practice Manager & Xero HQ. It manages business activities, jobs, and clients. You can sync with Xero Workpapers to manage queries and workflow. It lets you populate the accounts into Xero Tax without re-entering them.
Pricing Details
The pricing depends on the version. The Xero Non-GST Cashbook app costs $13 per month. At the same time, the Xero GST Cashbook app costs $23 per month. You can check more details on the official website. These prices include GST.
Conclusion
Join the Xero partner program to use the Xero Cashbooks and Xero Ledger tools. Plans are only available for the members. You can call our experts if you face any error code while using the Xero tool. We have a team of certified experts to provide proper assistance.
MWJ Consultancy offers software services for Xero, Sage, Quicken, QuickBooks, TurboTax, TurboCASH, and other industry-leading accounting software.
Frequently Asked Questions
The Xero GST Cashbook application is the best solution for those who do not want to invoice but use GST reporting. You can get daily bank feeds on the dashboard. The app lets you generate GST returns on your own. It also allows your clients to code banking transactions.
The Xero Non-GST Cashbook is suitable for those who want annual account creation. It allows you to get bank feeds. You can view and update the transaction details from the dashboard. The app also lets you access data and reports.
Xero Cashbook has three plans. The starter plan costs you $7 per month for a single client. You can visit the official Xero site for more details.
