Xero Accounting Software

Name: Xero Accounting Software
Rating: 4.2 (674 reviews)

Become an Expert in Xero Accounting Software: From Basics to Comprehensive Data Analysis

Created byRobert (Bob) Steele

Last updated 11/2023

English

What you'll learn

Recall the basic functionalities of Xero accounting software and demonstrate proficiency in navigating its user interface.
Apply the steps involved in the purchasing, downloading, and installation process of Xero software.
Analyze the major components of Xero software, including customer, vendor, and employee sections, and understand their role in the accounting cycles.
Evaluate the impact of various forms and transactions within each accounting section on the financial statements.
Demonstrate the ability to enter and process standard types of transactions, such as invoices, bills, pay bills, purchase orders, and deposits.
Synthesize the learned concepts and techniques by working through a comprehensive problem that covers two months of data input.
Interpret the financial statements generated in Xero software and verify the accuracy of the data input by checking the impact of each transaction on them
Modify system settings in Xero to streamline data entry and enhance the efficiency of the accounting process.
Communicate effectively about the functionality and capabilities of Xero accounting software, demonstrating proficiency in explaining its benefits.

Course content

63 sections • 330 lectures • 81h 31m total length

1012 30 Day Free Trial & Purchase Options7:08
Explore Xero accounting software by reviewing 30-day free trial and purchase options, compare the three plan levels, and learn to set up a demo file to practice with sample data.
1080 Dashboard17:58
1100 Bank Feeds12:39

Data Files
1140 Vendor, Expense, or Payments Cycle15:18
Navigate the vendor, expense, and payments cycle in Xero to understand balance sheet and income statement impacts, bill and spend money forms, and supplier management.
1160 Bills To Pay and Suppliers25:46
1180 Bill Form18:18
1200 Payment Form to Pay Bill21:52
1220 Purchase Order Form P.O.14:27
Learn how purchase orders link to bills in Xero to record inventory and accounts payable, affecting the balance sheet and income statement, with perpetual and periodic inventory notes.
1222 Bill With Inventory Connected to P.O.14:27
1227 Inventory Adjustment13:48
1260 Check Form or Spend Money Form24:45

1300 Customer, Revenue, or Account Receivable Cycle10:27
Explore the revenue cycle in Xero, from invoices and deposits to accounts receivable, balance sheet and income statement, and understand cash vs accrual, inventory, and bank feeds.
1320 Invoice Center & Customer Information16:36
Explore how Xero's invoice centre and customer information module streamline receivables, balance sheet and income statement views, detailing cash and accrual workflows, invoices, payments, deposits, and aging receivables.
1340 Invoice Form21:25
1360 Receive Payment on Invoice18:56
1380 Receive Money or Deposit Form18:40
1400 Receive Money Form – Cash Basis Sale23:15
1405 Barter Sale Transaction16:38
Learn to record a barter sale in Xero using an accrual approach with a clearing account, tracking accounts receivable and payable, and netting cash flows to zero.
1433 Quote or Estimate15:39

2020 Balance Sheet Report Overview18:00
2040 Report Formatting Basics20:37
Master Xero report formatting basics for balance sheets and income statements, including date ranges, end dates, custom dates, comparatives, filters, accrual vs cash, and export options.
2100 Comparative Balance Sheet Creation14:39
2120 Balance Sheet Vertical Analyses9:48
Learn to create vertical analysis on the balance sheet in Xero, using percent of assets and percent of liabilities and equity for benchmarking.
2180 Reports - Print, Save as PDF, & Organize17:55
2181 Export Balance Sheet to Excel14:58

3020 Profit & Loss, P&L, Income Statement Overview17:15
3040 Comparative Profit & Loss, P&L, Income Statement11:09
Learn to build a comparative income statement in Xero, using custom date ranges, two-period and month-by-month comparisons, and formulas for difference and percent change, while saving custom reports.
3060 Vertical Analysis Profit Loss, P&L, Income Statement8:05
Learn how to build a vertical analysis of the income statement in Xero, by adding a percent of income column, comparing expenses to revenue, and creating multi-period reports.
3100 Print, Save as PDF, & Organize Profit & Loss or Income Statement Reports13:37
3105 Export to Excel Profit & Loss or Income Statement Reports15:28
Export Xero profit and loss (income statement) and balance sheet reports to Excel, customize and save them as custom reports, then print a single PDF for clients.

4020 Statement of Cash Flows18:05
4040 Accounts Receivable Aging Reports12:54
4060 Accounts Payable Aging Reports.10:38
4065 1099 Reports14:33
Explore how to generate the 1099 report in Xero, identify vendors and contractors, and set up 1099 groups to meet IRS reporting rules.
4080 Sales by Customer & Sales by Item14:40
4140 Inventory Reports15:12
4160 Payroll & Employee Reports18:32
4180 Reconciliation Reports15:57
4200 Transaction Reports11:22
4225 Trial Balance10:39
4240 Budget & Financial Performance Reports.tscproj23:41
4260 Accounts Receivable Graphs15:13
Learn to generate accounts receivable graphs from Xero reports by exporting data to Excel, then create pie and bar charts to visualize customer and item breakdowns.
4300 Accounts Payable Graphs17:04
Explore how to generate accounts payable graphs in Xero, duplicate tabs, adjust date ranges, and export AP data to Excel to create pie and bar charts for external reporting.
4320 Sales by Customer, Account, & Item Graphs19:16

Requirements

No prior knowledge of accounting or Xero software is required. This course starts from the basics and assumes no prior experience.
Basic computer literacy, including familiarity with operating systems, file management, and navigating software applications.
Access to a computer or laptop with internet connectivity to download and install Xero software and access the course materials.
An eagerness to learn and apply accounting principles using Xero software.
Openness to hands-on practice and willingness to explore the functionalities of Xero software through guided exercises and activities.
A desire to develop proficiency in accounting tasks and data analysis using Xero software.

Description

Whether you are a beginner in accounting or new to the Xero software, this course provides a comprehensive foundation to navigate Xero and perform essential accounting tasks.

We start by assuming no prior knowledge of the software or accounting principles. We guide you through the purchasing, downloading, and installation process, utilizing Xero's free 30-day trial to facilitate hands-on practice.

The first half of the course focuses on navigating the software, acquainting you with its major components and the primary accounting cycles, including the customer section (revenue cycle), the vendor section (payments cycle), and the employee section (payroll cycle). By understanding these sections, you will grasp the fundamental elements that impact financial statements.

Within each accounting cycle, we delve into analyzing the various forms and transactions, such as invoices, bills, pay bills, purchase orders, and deposits. You will gain insights into how each transaction affects the financial statements and develop proficiency in recording them accurately.

The second half of the course takes the form of a comprehensive problem, immersing you in a two-month data input exercise. This practical approach enables you to enter diverse transactions and experience the accounting workflow firsthand. As we progress through the comprehensive problem, you will witness the direct impact of each transaction on the financial statements, allowing for immediate verification of your work.

Beyond simple data entry, the comprehensive problem format provides contextual understanding and empowers you to optimize the Xero system for efficient data input. By exploring the entire accounting process within a real-world scenario, you will enhance your problem-solving skills and gain a holistic view of the accounting workflow.

Join us on this exciting journey to master Xero accounting software. Enroll today and acquire the skills to navigate Xero with confidence, analyze financial transactions effectively, and ensure accurate financial reporting.

Who this course is for:

Beginners with no prior knowledge of accounting or experience with Xero software, who are interested in learning accounting principles and how to use Xero for their financial tasks.
Small business owners and entrepreneurs who want to manage their accounting processes efficiently using the Xero software platform.
Accounting and finance students who want to gain practical skills in using accounting software and understand how it applies to real-world scenarios.
Bookkeepers and accounting professionals who want to expand their knowledge and proficiency in using Xero software for client work and financial analysis.
Anyone interested in learning about Xero software and its capabilities for managing financial transactions, generating reports, and analyzing financial data.

Xero Accounting Software

What you'll learn

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Course content

2023-2022 Getting Started and Set Up3 lectures • 38min

2023-2022 Vendor, Accounts Payable, Expenses, or Purchases Cycle9 lectures • 2hr 29min

2023-2022 Customer Cycle , Sales Cycle, or Accounts Receivable Cycle8 lectures • 2hr 22min

2023 Employee Cycle Overview1 lecture • 14min

2023 Lists-Chart of Accounts & Products & Services Lists2 lectures • 35min

2023 Reports Overview1 lecture • 33min

2023 Balance Sheet Reports6 lectures • 1hr 36min

2023 Profit & Loss / Income Statement5 lectures • 1hr 6min

2023 Statement of Cash Flows & Supplemental Reports14 lectures • 3hr 38min

2023 Start a New Company File4 lectures • 24min

Requirements

Description

Who this course is for: