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
- 7,718 Reviews
- 241,534 Students
- 6 Courses
Chartered Accountant with 12 years experience in Accounting, Finance, and Business Intelligence.
I am a member of the Association of Chartered Certified Accountants in the United Kingdom and a Finance graduate. I started my professional career with PwC as a Functional Consultant, later moved to at FTSE 100 FMCG as a Finance Manager, then working a General Manager developed an outsourcing hub 'Excelsious' for US and UK accounting firms, and finally cofounded Receipt Bot - an accounting automation company which is automating some tedious aspects of Accounting for clients from 21 countries.
Right from the beginning of my career, my role has been to improve the Accounting and Reporting systems. From automating data entry and bookkeeping to the preparation of interactive business analysis dashboards for the senior management, I have led multiple assignments.
Over my professional career of 12 years, I have been teaching several programs of Accounting and BI at some reputed institutes. Over this time, I have trained 20,000+ students from 50+ countries.
I am absolutely delighted to share my skills and experience with you on the Udemy platform!