Best Xero setup for a trade business in Australia

Chart of accounts

Confirm a revenue account for trade services, cost of goods sold for materials, subcontractor costs if relevant, and vehicle and equipment expenses. Resist creating a new account for every expense category; the right level of detail is what your accountant needs to work clearly, not an exhaustive taxonomy.

Tax codes and customer records

If you're GST registered, set your default sales tax code to GST on income, with purchases split between standard and GST-exempt where relevant. Each client record should carry the correct legal name, billing address, and contact email, with default payment terms set at the customer level so they apply automatically.

Invoice templates and payment terms

Set your invoice template once: logo, contact details, payment terms, bank details, and every invoice that goes out is consistent without extra effort per job. Set your standard payment terms at the organisation level; 7 days is a sensible default, and combined with an automated follow-up sequence, your terms become an enforced system rather than a guideline that gets forgotten.

Once the setup is done

Korda keeps it current from there, invoices flowing in as jobs complete, client records staying consistent, and your Morning Brief reflecting the actual state of the accounts each day. The setup is a one-time investment; the maintenance looks after itself.