Xero Cloud Accounting

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Tags: Xero

Learn how to use Xero, the leading online accounting software to perform several essential bookkeeping tasks.

Last updated 2022-01-10 | 4.1

- By the end of the course you will be able to complete various common functions using Xero
- Enter the opening balances
- Amend the nominal ledger

What you'll learn

By the end of the course you will be able to complete various common functions using Xero
Enter the opening balances
Amend the nominal ledger
Add new customer and supplier details
Post customer invoices and credit notes to the sales ledger
Post supplier invoices and credit notes to the purchase ledger
Enter the supplier cheques and record the customer receipts
Post Petty Cash transactions
Prepare the VAT return
Reconcile the bank
Post the wages journal
Post adjustments to the accounts and produce month-end reports
Use credit card to make payments and reconcile the credit card account
Write off bad debt
Use the payroll function in Xero
Import a bank statement

* Requirements

* You will need access to Xero accounts online in order to complete the assignment (we'll give you the link to get the free trial version of the software)

Description

  • By the end of the course you will be able to complete various common functions using Xero
  • Enter the opening balances
  • Amend the nominal ledger
  • Add new customer and supplier details
  • Post customer invoices and credit notes to the sales ledger
  • Post supplier invoices and credit notes to the purchase ledger
  • Enter the supplier cheques and record the customer receipts
  • Post Petty Cash transactions
  • Prepare the VAT return
  • Reconcile the bank
  • Post the wages journal
  • Post adjustments to the accounts and produce month-end reports
  • Use credit card to make payments and reconcile the credit card account
  • Write off bad debt
  • Use the payroll function in Xero
  • Import a bank statement

Course content

21 sections • 61 lectures

Getting Prepared - Access the software and course materials 2 lectures

Introduction to the course and your tutor Preview 04:22

Activating your free trial with Xero Preview 01:37

Getting started 3 lectures

Signing up for the free trial Preview 03:46

Create the organisation Preview 08:17

The ficticious scenario Preview 01:31

Setting up the system 3 lectures

Add Bank accounts to the system Preview 14:08

Enter opening balances Preview 06:37

Opening trial balance Preview 00:53

Nominal ledger 2 lectures

Amend the nominal ledger Preview 05:57

Chart of Accounts Report Preview 01:04

Customers & Suppliers 3 lectures

Enter customers Preview 06:41

Entering suppliers Preview 06:06

Reporting customer and supplier information Preview 01:35

Sales ledger 6 lectures

Enter invoices Preview 07:09

Invoicing tips - adding logo, repeat billing Preview 09:03

Entering invoices 6574 to 6610 Preview 16:22

Post credit notes Preview 02:43

Report showing customer activity Preview 07:53

Aged debtors Preview 02:14

Suppliers 6 lectures

Post supplier invoices Preview 08:33

Enter suppliers invoices 6028 onwards Preview 14:10

Enter more supplier invoices no 4308 onwards Preview 06:10

Credit notes suppliers Preview 02:27

Supplier activity report Preview 03:39

Aged creditors info Preview 01:13

Purchases ledger 2 lectures

Receipts from customers Preview 09:54

Apply customer credit notes Preview 05:28

Sundry payments 3 lectures

Post supplier cheques Preview 08:28

Apply supplier credit notes Preview 03:25

Print list of bank receipts and payments Preview 01:09

Sundry payments 2 lectures

Post sundry payments Preview 06:31

Make a credit card payment Preview 08:09

Petty Cash 6 lectures

Post Petty Cash Transactions - week 1 Preview 16:07

Petty cash - week 2 Preview 12:01

Petty cash - week 3 Preview 07:18

Petty cash - week 4 Preview 08:38

Imprest system on petty cash Preview 04:27

Report on cash payments and receipts Preview 01:07

Bad Debt 2 lectures

Writing off a bad debt - print customer statement Preview 02:27

Write off a bad debt Preview 08:54

Credit Card 1 lectures

Reconcile the credit card statement Preview 09:20

Bank Reconciliation 3 lectures

Bank statement as a csv file Preview 27:15

Bank statement closing balances Preview 10:37

Reconcile the Petty Cash Preview 05:26

Payroll / Wages 5 lectures

Wages and salaries Preview 08:46

Post the wages journal Preview 07:11

Report wages journal Preview 01:49

Payday Preview 10:53

Pay the two staff Preview 04:50

VAT - Value Added Tax 2 lectures

Depreciation journal Preview 04:22

VAT Return Preview 02:50

Reports 1 lectures

Month end reports PnL, BS, TB Preview 04:46

Payroll unit 3 lectures

Using Payroll Preview 12:12

Setting up employees Preview 10:17

Running payroll - an example Preview 13:46

Bonus - Banking 1 lectures

Bank reconciliation - setting up rules Preview 03:00

Bonus - Automated supplier bills 3 lectures

Applying a payment to a supplier bill which is entered automatically Preview 12:26

Deleting auto supplier bills Preview 12:59

Checking unpaid supplier bills Preview 01:06

Conclude 2 lectures

Recap and Next Steps Preview 05:41

What happens next? Preview 01:49