Our Xero Online Training Package
Financials made easy with Xero — from Set Up to Payroll
WE OFFER A WHOLE SUITE of Xero online training courses in one neat package. And remember, you can also enrol in this package as part of our StartUp Academy Cloud Package.
FOLLOWING is a summary of topics included in our Xero Online Training Package:
1. Xero Set Up Course
To start with we go through our DIY Bookkeeping knowledge to help you understand the most important aspects of what is important to know about bookkeeping and the accounting and financial aspects of what small business owners need to manage, including:
Charts of Accounts, Tax Codes, Cash Vs. Accrual Accounting Methods, Debits-Credits-Income-Expenses and an introduction to Credit Control.
Then we take a look at the various parts of the software where we need to perform a once of setup so that we can start to use the software to manage a business, including:
- introduction to navigating the Xero Accounting Software
- how to access and use the Free Software Trial
- setting up the organisational settings
- financial settings
- invoice settings and users
- Chart of Accounts
- account balances
- default invoice settings and email settings
- the dashboard watchlist and how to add a new contact
- adding multiple bank/credit card accounts
- adding PayPal accounts to receive credit card payments and
- how to manage bank accounts from the Dashboard.
2. Xero Daily Transactions & Entries
In the Xero Daily Transactions Course you will learn about the different dashboards for various parts of the Xero software. You will learn your way around the main screen dashboard, as well as your Sales and Purchases Dashboards.
- how to send or issue invoices to one customer or many customers at the one time, to save a repeating invoice and much much more
- how to work with credit notes: these could not be simpler when using Xero; you won’t get confused with them and they take seconds to generate, just like a sales invoice
- how to manage payables which happens at the purchase dashboard. Schedule payments, create bulk payments and ABA files, send suppliers a remittance, as well as process employee expense claims.
The Xero Daily Transactions Course includes training on:
- Entering Sales Invoices and Receiving Customer Payments
- Entering Supplier Invoices and Entering Supplier Payments
- Transferring Money Between Accounts
- Adding New Contacts
- Edit existing Contacts and Coping with Duplicate Contacts
- Navigating the Sales Dashboard
- Entering Credit Note and Allocating them to invoices
- Emailing or Printing Invoices
- Entering a New Purchase Order
- Sending a Purchase Order
- Deleting Invoices
- Voiding Invoices, Voiding Invoices when payments are applied
- Internal Bank Transfers
- Handling Overpayments
- Processing Contra Deals
- Create a Quote in Xero.
3. Xero Journal Entries and Bank Reconciliation
We explore a bank statement and enter data for that period as well as the direct debit transactions that aren’t entered as part of the Daily Transactions. We explore ad hoc payments for director wages, as well as a capital purchase of a vehicle and depreciation of that vehicle, plus alternatives like leasing or second hand car purchase under $20,000. You’ll perform a bank reconciliation that doesn’t balance and then go through the entries to sort out the issues and mis-typing that happens in most businesses.
- Entering and coding direct debits
- Interest payments and charges
- Coding capital purchases
- Understanding depreciation
- International credit card payments and charges
- Basic Payroll entries for micro businesses
- Loans to and from the company
- Experience a bank rec which doesn’t balance
- Rectify entries to complete the bank reconciliation process.
4. Xero Reporting Course
‘Fundamental Financial Reporting in Xero’ is currently included in the Xero Daily Transactions Course and includes an introduction to reports as well as how to get the Balance Sheet (Assets and Liabilities), Profit and Loss (income and expenses) and reporting for Fixed Assets with some creating or modifying your Chart of Accounts.
5. Xero GST, Reporting & BAS Course
In this course you about transactions that make GST and BAS reporting tricky, including purchases which are GST-free, those which have partial GST, or are international payments. You’ll also learn about transactions with varying GST percentages and how you can use a spreadsheet to calculate your PAYG & Super obligations and then just code them into your Xero software. These topics are included in this course:
- GST treatment for capital purchases (a vehicle)
- How different costs of running a vehicle are treated
- When FBT applies to expenses like entertainment
- Introduction to Payroll & how wages are treated in the BAS
- Financial Settings with regard to the GST registration (Cash vs Accrual and quarterly vs monthly)
- Run a BAS report, which is combined with our specially-designed “Ad Hoc Payroll” Excel spreadsheet case study calculations in order to work out the final liabilitie,
- See the financial results of the business owners ‘change of strategy’ and focus
- You’ll see what these results look like at the end of the quarter, as well as month-by-month comparisons of Profit and Loss and Balance Sheet reports
- How the business owner can use the information in the reports to change the direction of the business
- Configure their software to obtain even better reports at the end of the next quarterly reporting period.
6. Xero Payroll Course
These videos below will aid and assist you to get your payroll users and settings correctly set up so then you can start adding employees and processing pay runs. We show you how to set up your linked accounts, take you for a look at the individual pay and line items and also how to add a new (or various) payroll calendars.
This Xero course includes:
- Setting our user permissions
- Linked Account Set Up
- Payslips Set Up
- Pay Items Set Up
- Calendar, Payroll Settings and Superannuation Setup
- Employee Details
- Tax Declarations
- Bank Accounts, Pay Templates.
Remember, you can access our entire suite of Xero online training courses inclusive with The StartUp Academy Cloud Package: Find out more
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