Xero Set-up, Bookkeeping, Accounting, & Reporting
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
- Preview08:31
- Preview10:40
- 15:19Chart of Accounts - Continued
- Preview01:48
- 04:39Financial Settings
- 03:48Sales tax rates
- 08:50Other settings - Currency, Users, & Organization Profile
Instructor
![Irfan Sharif](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 64 64"%3E%3C/svg%3E){kind=avatar}
- 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.