Xero Bookkeeping & Accounting, w/ Set-up & Reporting | Udemy

What you’ll learn
Real world Accounting with the best Accounting Software
Sales and Receivables Management
Expenses and Payables Management
Setting up Xero

Technology has revolutionized everything, and, Accounting and Bookkeeping are no exception. Thanks to modern Accounting Software Xero (and few others), the complex accounting entries and jargon like debits and credits are all managed by the system.

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

About the Teacher:

Certified Chartered Accountant from the United Kingdom

Xero Certified Advisor since 2014

50+ Xero, QuickBooks, SAP, and Oracle implementations

12 years of teaching experience as visiting faculty

Ex PwC Consultant

Who this course is for:
Accounting students, aspiring accountants, entrepreneurs, small business owners

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