Xero Accounting Software 2020

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Learn Xero accounting software in a comprehensive online course taught by a practicing CPA, CGMA, CPI, with BS tax

Last updated 2022-01-10 | 4.4

- Set up Xero Account
- Navigate Xero Software
- Enter normal business transaction into Xero accounting software

What you'll learn

Set up Xero Account
Navigate Xero Software
Enter normal business transaction into Xero accounting software
Reconcile bank accounts using Xero accounting software
Generate and analyze reports including a balance sheet
an income statement
and supporting reports
Export Reports to Excel

* Requirements

* Xero accounting software is recommended
* We recommend Xero free 30 - day trial to get access to the software

Description

This course will start at the basics, assuming you know nothing about the software or accounting.

We will then go through the purchasing process, the downloading process, and the installation process. Xero often offers a free 30 day trial which is a perfect tool to practice with.

The first half of the course will be dedicated to navigating the software, getting a feel for the major components of the software, and the primary accounting cycles such as the customer section or revenue cycle, the vendor section or payments cycle, and the employee section or payroll cycle.

Once we learn the primary sections or accounting cycles we will analyze the forms and transactions within each section, considering the impact each has on the financial statements. major accounting forms will include invoice, bills, pay bills, purchase orders, deposits, and more.

The second half of the course will be in the format of a comprehensive problem, working through two months of data impute.

We will enter every standard type of transaction as we work through the comprehensive problem. The comprehensive problem format will provide context to the data entry process, so we understand how the data impute fits into the accounting workflow.

A comprehensive problem also allows us to do more than simple data entry, data entry generally being the easiest part of the accounting process. We will be able to see how to set up the system to make the data entry as easy as possible.

We will also be able to see the impact on the financial statements of every transaction we make and be able to check our work after each transaction.

Who this course is for:

  • Business owners
  • Accounting professionals
  • Accounting students
  • Anybody who wants to learn accounting software

Course content

30 sections • 156 lectures

Getting Started - Getting Setup - Xero 2020 3 lectures

.10 Xero Free 30-Day Trial Preview 02:47

Data Files to Download Preview 00:01

1.05 Navigation Overview Preview 13:51

Customer Cycle , Cycle, or Accounts Receivable Cycle - Xero 2020 6 lectures

Data Files to Download Preview 00:01

1.15 Customers Section Flow Preview 11:31

1.16 Customer Section Invoice Preview 20:51

1.17 Customers Section Receive Payment Preview 14:34

1.18 Customers Section Deposit from Clearing Preview 06:30

1.19 Customers Section Sales Receipts Preview 14:57

Vendor Cycle, Purchases Cycle, or Sales Cycle - Xero 2020 5 lectures

Data Files to Download Preview 00:01

1.20 Vendors Section Bill Form Preview 10:24

1.22 Vendor Section Payable Payment Preview 09:26

1.23 Vendors Section Purchase Order Preview 09:50

1.24 Vendors Section Check Preview 08:08

Employee Cycle and Other Core Features - Xero 2020 6 lectures

1.25 Employee Section Preview 12:25

1.28 Others Section Preview 12:08

1.30 Reports Preview 12:54

1.40 Help Options Preview 05:20

1.45 Print & Export Reports to Excel Preview 14:49

1.50 Backup Options Preview 08:33

Balance Sheet Reports - Xero 2020 7 lectures

Data Files to Download Preview 00:01

2.10 Balance Sheet Preview 15:52

2.15 Balance Sheet Report Settings Preview 10:00

2.20 Balance Sheet Edit Layout Preview 17:11

2.30 Comparative Balance Sheet Preview 14:08

2.40 Summary Balance Sheet Preview 16:46

2.50 Memorize Custom Report Group Preview 12:27

Profit and Loss or Income Statement Reports - Xero 2020 4 lectures

3.10 Income Statement Preview 15:17

3.20 Comparative Income Statement Preview 15:35

3.25 Vertical Analysis Income Statement Preview 10:33

3.30 % of Expense Income Statement Preview 09:35

Statement of Cash flows & Other Common Reports - Xero 2020 6 lectures

4.10 Statement of Cash Flows Preview 13:25

4.20 Income By Contact Report Preview 10:19

4.30 Aged Receivables Report Preview 10:28

4.35 Aged Payables Reports Preview 10:56

4.40 Sales Graphs Preview 10:29

4.45 AR & AP Graphs Preview 14:00

Course Project Start - Set Up New Company File, Preferences, & Users 6 lectures

Data Files to Download Preview 00:01

6.01 Set Up Organization Details Preview 07:23

6.02 Users Add & Manage Preview 11:33

6.03 Add Apps, Currencies, & Subscriptions Preview 04:40

6.05 Payment Services, Invoicing, & Features Preview 05:09

6.06 Projects, Files, & Other Settings Preview 03:06

Set Up Service & Inventory Items & Enter Inventory Beginning Balance 7 lectures

Data Files to Download Preview 00:01

6.09 Objective Preview 07:18

6.10 Items - Service Set Up Part 1 Preview 08:48

6.11 Items - Service Set Up Part 2 Preview 11:51

6.13 Items – Inventory Set Up Part 1 Preview 10:03

6.14 Items – Inventory Set Up Part 2 Preview 07:50

6.14 Items – Inventory Set Up Part 3 Preview 10:05

Add Customers & Vendors - Enter AR and AP Beginning Balances 2 lectures

6.15 Set Up Customers & Beginning Balances Preview 21:33

6.20 Set Up Vendors & Beginning Balances Preview 11:44

Add Accounts & Beginning Balances, Checking, Credit Card, Notes Payable, Equip. 4 lectures

6.25 Add Bank Account Preview 10:41

6.26 Add Credit Card Preview 10:32

6.27 Add Notes Payable Preview 13:40

6.28 Add Equipment Account Preview 14:55

Adjust Equity, Payroll Options, & Reports 2 lectures

6.35 Payroll Options Preview 06:07

6.55 Generate Transaction Detail Report Preview 23:51

Month 1 - Deposits from Owner & Loan, Purchase Furniture, Sales Tax Set Up 4 lectures

7.05 Record Owner & Loan Deposit Preview 13:19

7.10 1 Record Purchase Furniture Preview 12:50

7.10 2 Record Short-Term Investment Preview 10:17

7.16 Sales Tax Set Up Preview 08:37

Month 1 - Purchase Orders & Invoices 4 lectures

7.17 Purchase Order Part 1 Preview 06:31

7.18 Purchase Order & Add Inventory Item Preview 04:03

7.20 Part 1 Create an Invoice with Inventory Part 1 Preview 10:33

7.20 Part 2 Create an Invoice with Inventory Preview 08:44

Month 1 - Receive Payments Forms 2 lectures

7.25 Part 1 Receive Payment Preview 07:30

7.25 Part 2 Receive Payment Preview 09:07

Month 1 - Sales Receipt & Deposit 3 lectures

7.30 Part 1 Sales Receipt Preview 10:50

7.30 Part 2 Sales Receipt Service Item Preview 10:20

7.35 Deposit Records Group Deposits Preview 08:12

Month 1 - Receive Inventory & Link Expense Form to Purchase Order 2 lectures

7.40 1 P.O. Billed & Paid Part 1 Preview 11:21

7.40 2 P.O. Billed & Paid Part 2 Preview 11:44

Create Invoice From Linked Billable Expense & Make Deposit 3 lectures

7.45 Invoice Created From Purchase Order Part 1 Preview 08:09

7.46 Invoice Created From Purchase Order Part 2 Preview 08:02

7.50 Receive Payment & Make Deposit Preview 10:19

Month 1 – Enter Checks & Expenses & Pay Bills 2 lectures

7.55 Enter Check & Expense Forms Preview 21:11

7.60 Pay Bills Preview 07:46

Month 1 – Customer Jobs & Sub Customers, Projects, & Payroll 4 lectures

7.65 Projects Preview 02:08

7.70 Pay Employees Part 1 Preview 17:24

7.71 Pay Employees Part 2 Preview 15:56

7.75 Sales Receipt Service Item Preview 05:57

Month 1 – Reports & Review of Data Input 1 lectures

7.80 Generate Report Export to Excel Preview 19:51

Month 2 - Loan Payments & Short Term Investment Sale 5 lectures

Data Files to Download Preview 00:01

8.02 Consolidate Loans Preview 05:21

8.03 Loan Amortization Table Preview 13:48

8.05 Make Loan Payments Preview 13:20

8.10 Short Term Investment Deposit Preview 08:25

Month 2–Purchase Order, Enter Bill for Inventory, Sales Receipt, & Deposit 3 lectures

8.15 Purchase Order With New Inventory Item Preview 06:45

8.20 Receive Inventory Requested With P.O. Enter Bill Preview 09:21

8.25 Sales Receipts & Deposit Preview 11:31

Month 2 – Advanced Payments & Apply Credit to Invoice 4 lectures

8.30 Advanced Payment From Customer Preview 09:48

8.35 Apply Credit Or Advanced Payment to Invoice Preview 12:14

8.40 Record Sales on Account Preview 06:21

8.45 Advance Customer Payment or Deposit Preview 08:22

Month 2 – Enter Bills, Pay Bills, Customer Payment, Pay Sales & Payroll Tax 5 lectures

8.50 Bills Track & Pay Preview 07:39

8.55 Customer Payment & Deposit Preview 09:27

8.60 Pay Sales Tax Preview 08:20

8.65 Pay Payroll Taxes Preview 09:42

8.70 Enter Bills & Pay Bills Preview 15:14

Month 2 – New Service Items to Invoice, Finance Equipment, & Payroll 4 lectures

8.75 Enter Service Items & Invoices Preview 18:01

8.77 Purchase Equipment with Debt Preview 11:08

8.80 Payroll Preview 17:18

8.90 Rental Income New Service Item New Income Account Preview 07:58

Month 2 – Month End Reports 1 lectures

8.95 Comparative Financial Statements Preview 18:33

Bank Reconciliations 5 lectures

9.02 Bank Reconciliation Objective Preview 14:28

9.10 Bank Reconciliation First Month Part 1 Deposits Preview 14:05

9.11 Bank Reconciliation First Month Part 2 Preview 24:28

9.14 Bank Reconciliation Second Month Part 1 Deposits Preview 08:37

9.15 Bank Reconciliation Second Month Outflows Preview 21:52

Month End Adjusting Entries & Reversing Entries 11 lectures

10.10 Short Term Loan Adjusting Entry Preview 08:27

10.11 Short Term Portion Of Loan Adjusting Entry Preview 10:30

10.15 Loan Payable Adjusting Entry #2 Preview 10:37

10.17 Reversing Entry Notes Payable Preview 07:35

10.25 Accrued Interest Reversing Entry Preview 11:07

10.25 Invoice & AR Adjusting Entry Preview 10:36

10.26 Invoice & AR Adjusting Entry Part 2 Solution Preview 12:47

10.35 Accounts Receivable Reversing Entry Preview 12:56

10.40 Prepaid Insurance Adjusting Entry Preview 07:13

10.45 Depreciation Adjusting Entry Preview 11:25

10.57 Journal Report & Financial Statements Preview 18:17

Bank Feeds 35 lectures

Data Files to Download Preview 00:01

315 How Do Bank Feeds Fit Into My Accounting System Preview 10:44

320 Project Outline Preview 05:28

325 Set Up Bank Feeds Preview 07:11

360 Download Transactions From Bank Preview 07:06

365 Import Bank Data Preview 08:35

370 Add Expense transactions Preview 24:47

375 Add Capital Expenditures Preview 10:36

376 Add Capital Expenditures Part 2 Preview 10:13

380 Add Inventory Purchase Preview 13:51

385 Add Amount Paid for Investment Preview 07:54

395 Add Bank Charge Preview 06:52

400 Sales Tax Calculation Preview 10:15

400 Sales Tax Set Up Preview 02:53

405 Deposit Loan Preview 08:50

405 Deposit Owner Preview 08:50

406 Bank Beginning Balance Preview 16:06

415 1 Upload Bank Transactions Preview 11:42

415 2 Add Expenses Preview 19:04

420 Add Insurance Preview 09:16

425 Add Payroll Checks Preview 16:38

430 2 Add Loan Payment Preview 11:26

435 Add Draw Preview 08:31

440 1 Receive Payments On Invoice Preview 14:50

440 2 One Deposit Two Invoices Preview 13:18

445 Sales Receipt & Bank Feeds Preview 15:53

450 Bank Reconciliation Preview 07:24

460 Credit Card Bank Feeds Upload Preview 05:49

465 2 Add Credit Card Data to Financial Stmts Preview 18:16

470 1 Reconcile Credit Card Preview 11:26

475 Bank Rules Deposit Same Customer Different Account Preview 15:27

480 Bank Rules Amount Limit Preview 12:30

485 Bank Rules Split Into Two Accounts Preview 09:11

490 Bank Rules One Vendor Two Expense Accounts Preview 11:13

495 Bank Rules More Rules Preview 26:35