Xero Ltd. provides an online accounting system that provides small businesses with a clear picture of the money that flows in and out of their businesses. It includes features, such as bank transaction importing, a cashbook, a general ledger, invoicing, accounts receivable, accounts payable, fixed assets, payroll (Australia), GST, financial reporting and management of expense claims. The company in addition to the small business accounting system also provides a range of tools to enable accounting practices to produce both monthly and annual accounts for their business clients. It also has a personal finance management product, providing a simple method of accounting for an individual's or household's cash flows. Xero was founded by Rodney Kenneth Drury and Hamish Edwards on July 6, 2006 and is headquartered in Wellington, New Zealand.