Description

Xero Bookkeeping Beginners Course Summary

Certificate in Xero Bookkeeping is currently available as a Training Course COLLECTION directly from 123 Group for $295

This Xero Training Course includes

Daily Transactions

All of the transactions and tasks which office admin and junior bookkeepers perform on a daily basis to manage the operational and financial aspects of the business in Xero. The purchases, sales, payment receipting and payments made are included but inventory management and reporting is also included for those students working in companies which not only provide services but combine them with products.

End of Month, Bank Recs and Journal Entries

A bank reconciliation is performed once all of the day-to-day transactions have been entered into your software (unless you’re doing what is called Rescue Work or Catchup Work). The purpose of this bank reconciliation is to ensure that your software data matches the information in the real world (ie. your bank account). In the Xero Bank Reconciliation and Journal Entry Training Course we profile a small business startup. The business owner lends the company money for cashflow, buys a car that needs to be depreciated, spends money on advertising and marketing to build awareness, makes some small sales and pays themselves a wage on an ad hoc basis depending on their bank balance.

These business include many trades and professional service organisations like:

• Air conditioning
• Plumbing
• Building
• Electricians
• tilers
• painters
• audio visual
• security and monitoring, and more

Xero Daily Transactions Training Course

Accounting Structure and Bank Accounts

• Xero Daily Transactions Course – Create New Accounts – Creating Your Chart of Accounts
• Xero Daily Transactions Course – Create New Accounts – Add Bank Account
• Xero Daily Transactions Course – Create New Accounts – Add Credit Card
• Xero Daily Transactions Course – Create New Accounts – Modifying Your Chart of Accounts

Customers & Suppliers (CRM)

• Xero Daily Transactions Course – Set Up Contacts – Add New Contact
• Xero Daily Transactions Course – Set Up Contacts – Edit Existing Contact
• Xero Daily Transactions Course – Set Up Contacts – Merge Duplicate Contacts
• Xero Daily Transactions Course – Set Up Contacts – Group Contacts

The Sales Dashboard: Quotes, Invoicing & Payments (Debtors)

• Xero Daily Transactions Course – Sales Dashboard – Create a Sales Invoice
• Xero Daily Transactions Course – Sales Dashboard – Navigating the Sales Dashboard
• Xero Daily Transactions Course – Sales Dashboard – Create a Draft Sales Invoice
• Xero Daily Transactions Course – Sales Dashboard – Email or Print Invoices
• Xero Daily Transactions Course – Sales Dashboard – Create a Branding Theme
• Xero Daily Transactions Course – Sales Dashboard – Create a Quote
• Xero Daily Transactions Course – Sales Dashboard – Accept and Create an Invoice for Quote
• Xero Daily Transactions Course – Sales Dashboard – Copy an Invoice
• Xero Daily Transactions Course – Sales Dashboard – Receive Customer Payment
• Xero Daily Transactions Course – Sales Dashboard – Receive Payment for Multiple Invoices
• Xero Daily Transactions Course – Sales Dashboard – Delete an Invoice
• Xero Daily Transactions Course – Sales Dashboard – Void an Invoice
• Xero Daily Transactions Course – Sales Dashboard – Void Invoice When Payment is Applied
• Xero Daily Transactions Course – Sales Dashboard – Overpayments
• Xero Daily Transactions Course – Sales Dashboard – Create and Allocate a Credit Note
• Xero Daily Transactions Course – Sales Dashboard – Statements

The Purchases Dashboard: Supplier Invoices and Payments, Purchase Orders and Remittances (Creditors)

• Xero Daily Transactions Course – Purchases Dashboard – Create a Supplier Invoice
• Xero Daily Transactions Course – Purchases Dashboard – Create a Supplier Payment
• Xero Daily Transactions Course – Purchases Dashboard – Create a Purchase Order
• Xero Daily Transactions Course – Purchases Dashboard – Print and Send a Purchase Order
• Xero Daily Transactions Course – Purchases Dashboard – Create a Bill from a Purchase Order
• Xero Daily Transactions Course – Purchases Dashboard – Internal Bank Transfers
• Xero Daily Transactions Course – Purchases Dashboard – Send a Remittance

Stock and Inventory

• Creating Items
• Purchasing inventory items
• holding stock assets

Other Transactions

• Xero Daily Transactions Course – Other Transactions – Receive Money
• Xero Daily Transactions Course – Other Transactions – Prepayments
• Xero Daily Transactions Course – Other Transactions – Spend Money
• Xero Daily Transactions Course – Other Transactions – Transfer Money
• Xero Daily Transactions Course – Other Transactions – Process Contra Deal

Expense Claims

• Xero Daily Transactions Course – Expense Claims – Add, Edit and Delete Receipts
• Xero Daily Transactions Course – Expense Claims – Submit Claim for Approval
• Xero Daily Transactions Course – Expense Claims – Authorise an Expense Claim
• Xero Daily Transactions Course – Expense Claims – Pay an Expense Claim

Reports

• Xero Daily Transactions Course – Reports – Balance Sheets
• Xero Daily Transactions Course – Profit and Loss Statements

Xero Bank Reconciliation & Journal Entries Training Course

Loans from the business to owners and directors requires it’s own compliance checks, but in this section of the course we’ll include the transactions and code you need to enter to keep a record of funds loaned to the business, The purpose of this workbook is to take students through common entries that occur on a one-off basis and that are not normally part of the quoting, invoicing and payment entries that occur in the Xero Daily Transactions Course. This course contains a bank statement where you’ll need to enter and code the transactions then run a bank reconciliation to discover that there are omissions and errors that you’ll need to fix – you’ll get to see what this looks like and then edit and enter the correct transactions and complete the reconciliation.

It is at this stage that you will enter:

• Direct debits that come out of your account automatically
• Interest charges or payments
• Capital purchases and payments
• Merchant and bank charges
• Find duplicates or omissions
• Correct existing data
• Locate and correct amounts that are a couple of cents or dollars out because they’ve been entered incorrectly

Technically the bank reconciliation stage is also where most strict accountants, bookkeepers or accounts managers will demand to see evidence of your purchases in the form of a receipt or tax invoice.

Bank Reconciliation — Loan Account

• Creating a loan account
• Transferring loan funds
• Transaction details and accounts payable
• Setting up accounts payable
• Linked accounts, and
• Editing or deleting a transaction entry

Bank Reconciliation — Entering Transactions

• Creating customer cards
• Creating inventory items
• Entering a sale and payment
• Spending money
• Receiving money from a client
• Reconciling your cheque account to your bank statement

Bank Reconciliation – International Credit Card Payments

Often the service in overseas countries is cheaper or better or there simply isn’t an available comparative product in Australia so we pay for overseas services. When we do this we don’t pay GST and we incur credit card charges. You’ll learn how to manage

• journal entries
• GST and tax coding, and
• reconciling

Handling Basic Payroll Transactions

If you are a small business you may pay yourself, your partners or even casual workers adhoc amounts each week or month. These transactions need to capture the right codes and also be included in your bank reconciliations. As long the correct amount of tax is paid and the employers’ obligations are met then the business owner is doing everything right. We’ll show you how some small companies manage these transactions.

Purchasing Assets – Company Vehicle

There will be times when larger equipment is purchased and it’s paid for from your operating cash flow. In this situation the asset isn’t written off as an immediate expense but depreciated every year for a certain number of years. You’ll learn how to code this type of transaction correctly.