Xero Set-up, Bookkeeping, Accounting, & Reporting

What you’ll learn

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

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Can I get a certificate after completing the course?

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