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2021-04-02 17:21:56
30-Day Money-Back Guarantee
Finance & Accounting Accounting & Bookkeeping Xero

Xero Set-up, Bookkeeping, Accounting, & Reporting

From Set-up to Bookkeeping, Accounting, Reporting, & Financial Statements in Xero with a Certified Xero Advisor
Rating: 4.6 out of 54.6 (76 ratings)
11,908 students
Created by Irfan Sharif
Last updated 1/2021
English
English [Auto]
30-Day Money-Back Guarantee

What you'll learn

  • Real world Accounting with the best Accounting Software
  • Sales and Receivables Management
  • Expenses and Payables Management
  • Setting up Xero

Requirements

  • None

Description

Technology has revolutionized everything, and, Accounting and Bookkeeping are no exception. Thanks to modern Accounting Software Xero (and few others), the complex accounting entries and jargon like debits and credits are all managed by the system.


Initial Set-up:

  • Setting up the Chart of Accounts (the key income, expense, assets, and liability categories).

  • Setting up contacts (customers, suppliers, employees)

  • Setting up our business branding on Invoices

  • Defining opening balances on accounts 

  • Setting up banks and integrating the bank for bank feed (automatic import of bank statement).

Sales and Receivables Management:

  • Creating customers in Xero

  • Creating (our business branded) invoices and emailing to customers from Xero

  • Follow up customers for payment (from within the Xero)

  • Automating the follow-up schedule within Xero

  • Sending monthly summaries (statements) from Xero

  • Receiving full/partial payments and issuing receipts (payment acknowledgment) to customers from within the Xero

  • Reconciling the payments received in the bank (within Xero).

  • Running Sales and Receivables Reports and analyzing important bits aging analysis, key customer analysis, trend analysis


Purchases/Expenses and Payables Management:

  • Recording bills/invoices/receipts in Xero where payment has already been made.

  • Recording unpaid bills in Xero

  • Attaching the image/soft copy of the bill with expense created in Xero (to meet the legal requirements).

  • Applying full/partial payments to the bills

  • Reconciling the payments made in the bank (within Xero).

  • Automating the bills data entry using Xero partner add-ons

  • Automating the expense recording by creating bank-rules

  • Bulk recording of expenses using Xero cash-coding, saving hours of bookkeeping

  • Running Purchases and Payables Reports and analyzing important bits aging analysis,  analysis, trend analysis


About the Teacher:

  • Certified Chartered Accountant from the United Kingdom

  • Xero Certified Advisor since 2014

  • 50+ Xero, QuickBooks, SAP, and Oracle implementations 

  • 12 years of teaching experience as visiting faculty

  • Ex PwC Consultant

Who this course is for:

  • Accounting students, aspiring accountants, entrepreneurs, small business owners

Course content

3 sections • 23 lectures • 2h 24m total length

  • Preview08:31
  • Preview10:40
  • Chart of Accounts - Continued
    15:19
  • Preview01:48
  • Financial Settings
    04:39
  • Sales tax rates
    03:48
  • Other settings - Currency, Users, & Organization Profile
    08:50

  • Introduction and defining Inventory items
    08:14
  • Recording Sales
    09:33
  • Preview12:50
  • Receiving payment and Updated Reporting
    09:37
  • Assignment answers
    12:31
  • Recording Sales without Invoice
    02:36
  • Sending Receipts to Customers
    03:46
  • Sales Return and Credit Note
    06:00
  • Sending Statements to Customers
    02:10
  • Sending Quotation
    02:28
  • Sales Overview
    01:46
  • Aged Receivables Report
    01:35

  • Recording Expenses
    05:07
  • Reports for Expenses
    05:48
  • Applying payment on Expenses
    03:51
  • Recoring expenses as spend money
    02:51

Instructor

Irfan Sharif
Bestselling Trainer | Chartered Accountant | PwC Alumni
Irfan Sharif
  • 4.4 Instructor Rating
  • 6,892 Reviews
  • 226,915 Students
  • 6 Courses

Experienced finance professional with practical experience of teaching accountancy and finance.  

I am Certified Chartered Accountant (ACCA-UK), with a rich experience of providing finance and accountancy services to large organizations of banking, FMCG and professional services sectors. I have worked as a Consultant at "PwC" and as Finance Manager at a FTSE 100 MNC. Now I am leading Accountancy Service of "Excelsious" where we provide Accountancy and Finance services to small and medium sized entities. 

Throughout my career I have been associated with professional education as a visiting member of faculty at prestigious professional colleges and universities for ACCA, CA and MBA. Over this time, I have helped more than 4000 students successfully achieve their aspirations and professional education goals. I am really excited about the enhanced learning experience of teaching online and sharing my knowledge and expertise with a wider audience. 

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