Setting Up Xero For Real Estate Business

Setting up new accounting software?

Switching or starting fresh with accounting software can feel overwhelming. But a clear setup workflow makes all the difference.

I have supported an Airbnb property management business in transferring their entire bookkeeping system from Zoho Books to Xero. I handled the full migration process including cleaning and organizing existing records, mapping accounts correctly, importing historical data, and ensuring all transactions were accurately reconciled in Xero. Throughout the process, I focused on maintaining data integrity, improving reporting accuracy, and setting up Xero in a way that aligns with the unique cash flow and occupancy trends of short-term rental operations.

SET UP CONVERSION BALANCES

It brings in all opening balances including bank accounts, assets, liabilities, and equity, so your reports stay reliable, your tax obligations remain correct, and you can confidently track your property performance moving forward.

SET UP BANK AND CHART OF ACCOUNTS

Setting up a clear Chart of Accounts in Xero helps your Airbnb business track income, expenses, and property costs accurately from the start. It ensures every transaction is categorized correctly, supports reliable reporting, and gives you a true picture of your profitability for smarter decision-making.

UPLOAD THE BULK INVOICES

To ensure accurate income recording, supports smooth reconciliation, and provides clear financial visibility for both reporting and tax compliance.

UPDATE FINANCIAL SETTINGS

To ensure accurate income recording, supports smooth reconciliation, and provides clear financial visibility for both reporting and tax compliance.

SET UP BUSINESS ACTIVITY STATEMENT

This keeps your tax calculations accurate, aligns your lodgement periods, and helps you stay fully compliant with ATO requirements.

CONNECT BANK & CREDIT CARD ACCOUNTS

Having live bank feeds, allows your Airbnb transactions to flow in automatically, keeping your books accurate and up to date. It speeds up reconciliation, reduces manual errors, and gives you a clear, real-time view of your cash flow and property performance.

BANK & CREDIT CARD RECONCILIATION

Bank and credit card reconciliation in Xero ensures every Airbnb transaction matches your actual accounts. It keeps your records accurate, prevents errors, and gives you reliable financial reports to track performance and stay compliant.

INVOICING

Creating invoices in Xero helps your Airbnb business record guest earnings accurately and on time. It keeps your income organized, supports smooth reconciliation, and ensures your financial reports clearly reflect your property’s true performance.

BILL CREATION

Recording bills in Xero helps your Airbnb business track all expenses accurately and avoid missed payments.

REPORT GENERATION

Financial reports like the Balance Sheet and Profit & Loss give your Airbnb business clear visibility on profitability, cash flow, and overall performance. It supports better decision-making, ensures accurate tax reporting, and helps you stay in control of your financial health.

I am committed to delivering reliable, detail-driven bookkeeping solutions that make financial management easier for busy property owners. If you need a smooth transition to Xero or ongoing support to keep your books clean and up to date, I’m here to help you stay organized and confidently in control of your numbers.