Financials made easy with Xero — from Set Up to Payroll
WE OFFER A WHOLE SUITE of Xero online training courses in one neat package. If you are starting out or upgrading your business technology that get some digital marketing training as well in our StartUp Academy Cloud Package.
Xero is one of Australia’s most popular financial software applications.
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
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.
Learn:
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.
Online Training Courses & Support
These courses are delivered and supported online so you can enrol now and learn at your own pace with support from the National Bookkeeping central Support HQ team at 123 Group Pty Ltd.
Training is available from $49 for short separate courses, low annual subscriptions to the video library, training manuals with practical exercises or even one-on-one training to solve your own particular issues.
The Xero Training is suitable for business owners and managers, job seekers, students who are transitioning from different careers and university graduates who want practical training in how to use Xero in small business. Training is also available for MYOB and QuickBooks Online.
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
Leave
Bank Accounts, Pay Templates.
7. Xero Cashflow, ROI and Strategy Course
You explore the typical overspending that some new entrepreneurs go through, and understand how these transactions affect the cashflow of a business. You’ll learn about the financing, operational and investment aspects of a cashflow statement and about alternative strategies that a business can take regarding its spending and credit risk management.
You’ll go through other Credit Management reports like Aged Receivables and understand the tools available to small businesses to reign in their accounts receivable, get money into their bank accounts quicker and use their accounting software to help perform better marketing and operational management by budgeting and understanding their Return On Investment.
We explore some business opportunities in this workbook that relate to ways that corporate employees can become small business owners and consultants in their local area with the use of cloud accounting software.
Changing a Business Name
Subscribing to HiPages (HomeImprovementPages.com.au) and using it as a lead source for trades
Real Estate Agents Course and setting up a real estate agency
How to earn money selling software training courses – including creating quotes, invoice and receiving payments
Advertising on LinkedIn to find a real estate agent employee
Setting up a PROFESSIONAL WordPress website
Explore strategies to GET REGULAR WORK
Using car trailers as an advertising medium
LOAN & purchase transactions for a CUBBY HOLE commercial warehouse
Home Improvement Pages as a marketing lead source for trades
Make changes to inventory items
Creating invoices for Sales & Marketing contract work
Importing bank statements to save on data entry
Creating bank rules
Matching transactions for Bank Statements from Bank file
Creating transactions for BAS refunds
Accounting for MOTOR VEHICLE DEPRECIATION
Accounting for Commercial Premises DEPRECIATION
PAYG & Superannuation
Cash flow statements
Setting budgets
Return on Investment Analysis
Enquiry Form
Remember, you can access our entire suite of Xero online training courses inclusive with The StartUp Academy Cloud Package: Find out more
The Australian Small Business Training and Support
Courses, Training and Support.
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