20. “Tax rates” lists all the VAT rates available for use in Xero. This is pre-populated on setup with standard rates and only needs editing if you have complicated VAT processing. I advise contacting your accountant if you believe this needs tailoring. 21. See section G below for details on “Fixed Assets”. 22. “Tracking categories” are covered in section E. 23. “Report Codes” are only visible if you hold a Xero practice license and are not applicable for the general operation of Xero. 24. “Report Fields” are only visible if you hold a Xero practice license and are not applicable for the general operation of Xero. 25. The “Conversion Balances” section is used upon initial setup if you are converting from another software or manual records. It is not needed after this. Please visit https://central.xero.com/s/article/Enter-conversion-balances if you are converting yourself, alternatively this is something that we can assist with.
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