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Xero Set Up: Small Business Accounting
Rating: 4.4 out of 5(86 ratings)
1,663 students

Xero Set Up: Small Business Accounting

This is a U.S. Xero small business set up guide. Enjoy!
Created byMira Johnson
Last updated 8/2022
English

What you'll learn

  • Learn how to set up Xero to fit your business needs
  • Connect your bank so transactions automatically feed to the software
  • Add customers and vendors
  • Set up bank rules to save time
  • Create account watchlist to keep your important information in check
  • Change dashboard to fit your needs
  • Learn how to pull reports

Course content

1 section • 10 lectures • 34m total length

  • Introduction4:03

    Introduction to the course. After completing this video, you will be able to access a free trial Xero account.

  • Xero Security Set Up & Xero Dashboard3:31

    Multi-factor authentication setup & Dashboard

  • Connect Your Bank3:33

    Add a bank account to Xero

  • Add all bank accounts and credit cards to Xero
  • Bank Rules & Dashboard Edit5:00

    This session will show you how to add bank rules to help you automate the reconciliation process. Edit your dashboard to fit your needs and preferences.

  • Recap of what you learned
  • Chart of Accounts2:58

    Learn how to change your chart of accounts, import your own, or simply add an account you need or delete the one you don't want.

  • Code all transaction for all your bank and credit cards. Set up bank rules.
  • Account Watchlist2:58

    Account Watchlist is a great tool to utilize to keep you informed on what is the most important to you. Maybe you spend too much money on company meals. Toggle the account to see the spending for the year and the current month right on your Dashboard. Or maybe you want to look closely at your revenue to ensure you are reaching your goals.

  • Opening Balances3:20

    If this is your first set of books and your business just opened the door, there might be no need to add conversion balances. But if you are converting from one accounting platform to another or have been in business for a couple of years, tune it to learn how to enter the opening balances.

  • Reports4:34

    Learn to access and tailor Xero reports, including income statements and balance sheets, with accrual versus cash options, and use the business snapshot to track trends.

  • Add Customers & Suppliers2:44

    Add customers and suppliers by manually entering contacts, creating invoices or bills, importing spreadsheets, and tracking balances through reconciliation and 1099 classifications in the Xero setup.

  • Final Quiz
  • Final Challenge2:17

    Complete your Xero setup by connecting bank feeds, scheduling weekly imports, and tracking customers, vendors, expenditures, and reports. Keep learning with advanced classes to improve your books and stay profitable.

Requirements

  • A computer with internet access
  • No previous experience is needed
  • You can sign up for a free Xero trial account and set up your business along the course

Description

You can take financial control of your business. The first step is to have good financial records that are up to date. Cloud-based accounting platform like Xero makes it easy for business owners to access their data on the go from any device. So embrace technology and learn how to get started with Xero. This course teaches you how to set up Xero to fit your business needs. You will be able to connect your bank to Xero, so transactions automatically feed to the software. You can add customers and suppliers, learn how to pull reports, and change the dashboard to fit your needs. You will more than likely fall in love utilizing the account watchlist feature that allows you to keep an eye on what is most important to you. You will also learn how to save time and automate your reconciliation using bank rules. Start on the right foot with the Xero accounting platform, a valuable tool for any small business. There is no need to download anything. The course will give you instructions on accessing a free trial account. The software is user-friendly, safe, and secure, and you can enjoy free product updates. Xero also makes it easy to collaborate with others. So please don't wait any longer, give it your best, and enjoy!

Who this course is for:

  • This course is ideal for start ups and small business
  • Bookkeepers who want to become familiar with Xero

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