Xero is our cloud-based accounting platform for managing invoices, expenses, bank reconciliation, and BAS/GST reporting.
It serves as the single source of truth for Stratum Labs' financial records.
What It Does
• Send and track invoices with automatic payment reminders
• Bank feeds & reconciliation — transactions imported automatically
• Expense claims and receipt capture
• BAS preparation and GST reporting for the ATO
• Profit & loss, balance sheet, and cash flow reports
• Multi-currency support for international clients
• Contact management for customers and suppliers
• Integrations with banks, payroll, and third-party apps
Getting Started
Create an Invoice
Go to Business > Invoices and click New Invoice
Select the contact (or create a new one)
Add line items with descriptions, quantities, and amounts
Check the tax rate is set correctly (GST on Income)
Click Approve then Send
Reconcile Transactions
Go to Accounting > Bank Accounts and click Reconcile
Match imported bank transactions with invoices or bills
For new transactions, create a new entry with the correct account code
Click OK to confirm each match
Run a Report
Go to Accounting > Reports
Select the report type (e.g. Profit & Loss, Balance Sheet)
Set the date range and comparison period if needed
Export to PDF or CSV for sharing
Tips & Shortcuts
Shortcut
Action
Ctrl+I
New invoice
Ctrl+B
New bill
Ctrl+E
New expense claim
• Use repeating invoices for recurring clients to save time each month
• Set up bank rules to auto-categorise common transactions during reconciliation
• Lock dates after completing BAS to prevent accidental changes to lodged periods
• Use tracking categories to break down reports by project or department