Xero Masterclass | Pro Accounting & Bookkeeping

Learn how to sign up for a Xero account and start a free trial without a credit card, verify your email, and access a demo company on the dashboard.

Navigate Xero settings to configure general settings, organization details, and user permissions, including payroll admin roles, and set up invoice and email settings with payment services for a new organization.

Learn how to navigate the chart of accounts in Xero, create unique account codes, set tax rates, and manage accounts with dashboard watch lists, print PDF, and import/export CSV.

Add and configure a bank account in the Xero masterclass via chart of accounts or dashboard, choosing a name, type, currency, and whether to connect the bank or import statements.

Explore the Xero demo company to practice core workflows, switch country settings, and reset data. Review the dashboard with transactions, items to reconcile, invoices owed, and cash and savings details.

Navigate to advanced settings in Xero to manage tracking categories. Add region and department options and apply them to invoices, bills, and reports, noting the four-category limit with two active.

Master contacts in Xero by creating new contacts, importing via CSV templates with field mapping, exporting contact lists, and managing details such as addresses, currency, sales defaults, and purchase defaults.

Explore how invoices relate to sales, navigate the sales overview, manage drafts, awaiting payment, and overdue invoices, and use filters, search, and invoice settings.

Explore invoice settings on the sales screen to customize branding themes, default settings, payment services, and invoice reminders, and preview invoices to ensure accurate branding and tax details.

Learn how to create and customize invoices in the invoices screen, including setting dates, reference numbers, branding, items, regions and departments, with save, submit for approval, and email delivery workflows.

Learn to create repeating invoices that auto generates monthly orders, set duration, due date, and end date, save as draft, then approve and move to awaiting payment.

Learn to create and apply credit notes in Xero, reducing invoice totals and applying partial or full credits to specific invoices, with notes on approval and payment status.

Open and adjust quotes settings, create a new quote, and customize the default template and terms. Learn to set a quote expiry, send drafts, and auto-generate emails from the template.

Explore the invoices screen, create invoices or credit notes, send statements, import/export csv for migration, and use copy to duplicate as invoice, quote, purchase order, or bill.

Master how to send statements in Xero by navigating to statements, applying date range and filters, bulk selecting statements, and printing or emailing them with your email template and branding.

Navigate Xero reports to analyze invoices, payables, and receivables, exploring aged payables and aged receivables details and summaries, with filters and export options to PDF, Excel, or Google Sheets.

Explore bills and purchases in the Xero masterclass 2025, navigate the purchase screen and overview, manage bills, purchase orders, and imports, and filter by dates and payment status.

Create a bill by selecting a contact, setting dates and a reference, adding product lines, applying tax on purchases, ensuring the total matches, then save, approve, or await payment.

Learn how to view and create repeating bills, set next bill date and due date, manage tax rate and currency, and save as a draft.

Discover two ways to add credit notes to bills and watch credits subtract from the bill total, using Bayside Wholesale and Young Bros Transport as examples.

Configure purchase order settings, draft and approve orders, send them by email, and copy the contents to a new bill in the Xero masterclass 2025.

Learn to create batch payments in Xero by selecting multiple items, editing pay references and bank details, and exporting or printing batch files for remittance.

Explore the bills to pay workflow. Access via business, manage awaiting payments, schedule with a planned date, import from CSV, and approve due bills.

Learn how to send remittance in Xero from the bills to pay tab or via bank accounts, using standard templates to generate and email remittance documents.

Explore payables and receivables reports, view detailed and summary payables, adjust period and aging settings, and export to Google Sheets or Excel or save as draft for purchases and bills.

Switch the demo company's region from UK to United States to see how tax rates on invoices change, from 20% UK VAT to US tax rates, while keeping workflow consistent.

Use global settings to see how tax rates vary on invoices, unlike country-specific options. Create a new Bayside Club invoice and note auto-filled contact details.

Learn to reconcile a bank account in Xero using automatic matching to pair bank statement lines with transactions, with the 7-Eleven rule and the suggest previous entries feature.

Match invoices by reconciling bank statement lines to invoices, using search to locate Ridgeway University invoices, verify dates and references, then reconcile payments to reflect paid status.

Create an invoice from a bank feed, add notes, fill in details, copy the description, approve, and reconcile the bank statement until the invoice is paid.

Learn to reconcile bills in Xero by locating awaiting payment bills in the bills to pay section, matching them to the bank feed, marking them as paid, refreshing, and creating new bills.

Learn to create a new bill for Cooper Street Bakery, copy the name when the contact is missing, and use more details to match it with the bank feed.

Approve a bill, reconcile the bill, and verify its paid status by reviewing Cooper Street Bakery in bills to pay.

Learn how spend money transactions differ from bills and use the reconcile tab to create a spend money transaction by selecting a bank account and filling the details.

Create a spend money transaction by selecting the expense account (for example office expenses), entering the debited-to, description, and saving, then reconcile with the bank statement feed.

Create receive money transactions by opening the top bar, selecting receive money, entering payee details, choosing deposit advance in prepayments, adding details, saving, and reconciling in account transactions.

Reconcile a receive money transaction and use the create tab to quickly create and match it, then learn how to find and match transactions.

Learn how to use the find and match feature in Xero to reconcile bills with bank statements by selecting multiple transactions and matching totals, then mark them as paid.

Learn to use bank rules in Xero to automatically assign transactions, such as 711 with payee contains 11, to the miscellaneous corner store, mapped to office expenses with 8.25% tax.

Learn to create and apply bank rules in Xero, using payee matches to automatically classify transactions such as Cooper Street Bakery and reconcile bank statements.

Use cash coding to group reconciliations, add descriptions, accounts, tax rates, and region, then save and reconcile selected items to fast-track bulk reconciliation in Xero.

Fix reconciliation mistakes by unreconcile or using remove and redo on bank statements and account transactions. Reconcile again or create a new transaction via pay bills or invoices.

Import a bank statement into Xero using the CSV template, edit and drag-and-drop your file, map the first column to reference, and complete the import to add a 7-Eleven transaction.

Explore the products and services screen, distinguishing services (sale price only) from products (sale price and cost price), noting item codes and the ability to import and export.

Learn how to add a service in the Xero masterclass 2025 by creating a desktop and network support service with a 750 sale price and non-inventory status.

Continue adding a service by creating a new invoice in Xero, select the item using its code, and let the details auto-fill to streamline billing.

Add a product by setting cost and sale price, noting untracked items lack a quantity attribute, then create invoices or bills by selecting the item and applying GST.

Track products by quantity and update inventory as bills and invoices; add black t shirt with cost 20, price 40, linked to 310 cost of goods sold and 630 inventory.

Navigate the fixed assets workflow in Xero by selecting the fake company, opening fixed assets, and using the chart of accounts to set up asset types and a start date.

create and configure fixed asset types in the demo, using the chart of accounts to define asset, accumulated depreciation, and depreciation expense accounts, then save the new asset type.

Explore the types of fixed assets by reviewing asset types such as computer equipment and office equipment in fixed assets settings.

Add an asset to computer equipment by importing a statement, reconciling the transaction, and finalizing the asset entry in Xero.

Register and track fixed assets by selecting computer equipment, entering the asset number, purchase date, purchase price, and book value from a bank transaction.

Create and register fixed assets from spend money transactions by adding office chairs and a meeting table, assign to office equipment, track with serial numbers, and set depreciation dates.

Add fixed assets from bills in Xero by registering items like computer equipment, setting depreciation start values, and approving the bill to reflect them in fixed assets.

Run depreciation on fixed assets to reduce book values and observe end-of-month updates, noting the last depreciation date and changes to registered assets such as a photocopier or printer.

Navigate VAT settings in a UK-based demo account, review 20% tax rates in the chart of accounts, and learn to manually file VAT returns.

Learn to manually file a VAT return using the accounting software, selecting manual filing, setting a start date, and finalizing the return in a demo environment.

Explore how to file VAT returns using MTD, connect to HMRC with a government gateway ID, and compare it with manual filing while noting updated penalties and system maintenance.