Are You Making This Small Business Xero Mistake?
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Avoid This Common Small Business Mistake!
A big mistake small business owners make is transitioning from a sole proprietorship to a company, but using the same Xero file. This combines two entities into one file, leading to messy financials and issues with STP reporting for payroll.
After consulting with your accountant, make sure you also talk to your bookkeeper to set up a new Xero file. Start trading from this new file to keep your financials clean and organized.
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