Xero vs. Excel

Create an Excel accounting worksheet from a blank file, input journal entries, build beginning and ending balances, and the trial balance and general ledger with color-coded accounts.

Create and balance an Excel accounting worksheet part 2 by completing the trial balance with a single-column debit/credit layout, using sum formulas and conditional formatting.

Learn to build an Excel accounting worksheet, enter debits and credits as negatives, post to the trial balance and the general ledger, and validate totals with a check.

Advance the Excel accounting worksheet by posting transactions to the trial balance and general ledger, using color-coded accounts and the example and practice tabs to track assets, liabilities, and draws.

Learn to build an accounting worksheet in Excel, post debits and credits to trial balance and general ledger, and verify ending balances with a running balance formula and check figures.

Build and validate an Excel accounting worksheet, including data input, journal entries, trial balance, and general ledger, then create accounts receivable and payable subsidiary ledgers by customer.

Build an accounts payable subsidiary ledger from journal entries and the general ledger, linked to the trial balance and vendor data, with prep for accounts payable aging.

Build an Excel inventory subsidiary ledger linked to the general ledger and trial balance, applying weighted average with LIFO/FIFO to track purchases, ending inventory, COGS, and income statement impact.

Build an integrated Excel accounting worksheet from the trial balance to the balance sheet, detailing assets, liabilities, equity, accumulated depreciation, and subledgers for accounts receivable, accounts payable, and inventory.

Create an accounting worksheet in Excel from journal entries to trial balance, then build the balance sheet and income statement, and begin linking to the statement of equity.

Master an Excel accounting worksheet by posting transactions to the trial balance, general ledger, and subsidiary ledgers, then create the balance sheet, income statement, and the statement of equity.

Learn the vendor expense and payment cycle in Xero, connecting bills and accounts payable to the balance sheet and income statement, with bank feeds, purchase orders, and supplier terminology.

Explore how to manage bills to pay and suppliers in Xero, from entering bills and increasing accounts payable to paying bills and analyzing payable aging with reports.

Enter a bill in Xero to increase accounts payable and record expenses on an accrual basis, then approve and pay the bill while tracking its impact on the balance sheet.

Learn how to enter a bill in Xero, manage accounts payable in an accrual flow, and pay it by check or electronic transfer, with impact on the balance sheet.

Explore how a purchase order in Xero flows from a PO to a bill, and how inventory tracking (periodic or perpetual) affects the balance sheet and cost of goods sold.

Learn how to record inventory with a purchase order in Xero, link bills to inventory and accounts payable, and analyze the balance sheet and PNL impacts.

Learn how to manage inventory adjustments in Xero, including purchase orders, bills, perpetual vs periodic inventory, physical counts, and how adjustments affect balance sheet and cost of goods sold.

Explore the spend money and check forms in Xero, managing accounts payable, bills, prepayments, and overpayments, and learn how bank feeds and reconciliations support vendor payments.

Explore bill form basics in Excel for accounts payable, including debits and credits, trial balance, general ledger, and subsidiary ledgers, with inventory and asset examples.

Learn how to record a bill, post to the trial balance and general ledger, and pay bills using a pay bill form, linking vendor data to accounts payable.

Apply check form transactions to record cash outflows, utilities, and asset purchases, updating the checking account. Use journal entries, the general ledger, and the inventory subledger to balance trial balance.

Explore voiding checks and prior period adjustments in an Excel accounting worksheet, tracing audit trails and journal entries across current and prior years.

Explore how Xero guides the customer revenue and accounts receivable cycle using invoices, deposits, and bank feeds, and how cash and accrual flows influence inventory and reports.

Learn how the Xero invoice centre and customer information shape the accounts receivable and reporting workflow, including invoices, deposits, bank feeds, and key reports.

Explore how the Xero invoice form records a sale, increases accounts receivable, tracks inventory and cost of goods sold, and handles sales tax in a perpetual system.

Practice receiving payments on invoices within Xero, manage accounts receivable and deposits, and use a clearing account to simplify bank reconciliation.

Demonstrates how to receive money and deposit it in Xero, using invoices, accounts receivable, and the undeposited funds clearing account to group deposits for easy bank reconciliation.

Learn to record cash basis sales in Xero, using receive money forms, undeposited funds, and bank feeds to manage revenue, inventory, and sales tax.

Demonstrates recording a barter sale in Xero by using a clearing account to net cash flows, tracking accruals for accounts receivable and accounts payable, and applying barter invoices and bills.

Learn how to create and manage quotes and estimates in Xero, convert accepted quotes into invoices, and track inventory, costs, and revenue under accrual accounting.

Learn to record invoices in an Excel worksheet, tracking accounts receivable, sales, sales tax, and cost of goods sold for service and inventory items under accrual accounting.

Learn to record customer payments in Excel, from invoices and accounts receivable to journal entries, comparing direct deposits versus undeposited funds and bank reconciliation.

Explore recording deposits in Excel and QuickBooks using deposit forms and undeposited funds, linking accounts receivable, revenue, and checking account activity to the bank reconciliation in the general ledger.

Explore how a sales receipt form in Excel records transactions, revenue, and cash flow with undeposited funds, inventory, cost of goods sold, and sales tax payable.

Explore how credit memos reverse invoices and affect accounts receivable, revenue, and options like bad debt expense or returns and allowances for service items, with journal entries and GL impact.

Record a credit memo with inventory, reverse the invoice entries, and adjust accounts receivable, sales tax payable, sales returns and allowances, and cost of goods sold.

Explore payroll options in Xero, including payroll as an add-on and third-party processing with Gusto, ADP, or Paychex, to ensure accurate financial statements and compliant reporting.

Learn to process payroll in Excel, calculating gross pay, federal income tax, Social Security, Medicare, and benefits, to determine net pay and payroll liabilities.

Record payroll transactions in Excel by calculating gross pay, withholdings, and employer taxes, posting to payroll liabilities, and aligning with the trial balance, balance sheet, and income statement.

Set up the chart of accounts in Xero, aligning codes by type to generate the balance sheet and income statement, with considerations for bank, inventory, and PPE.

Learn how Xero's products and services underpin invoices, bills, and inventory management, including item setup, data input forms, tax rules, and the flow from purchase to sales across cycles.

Learn how to navigate Xero reports to generate balance sheet and income statement, explore cash flow and budgeting tools, and connect subledgers to the financial statements.