Xero Accounting course

Description

Course Overview:

This course is designed to provide students with in-depth knowledge of Xero Accounting software, covering everything from setting up an account to advanced financial reporting. Students will gain practical skills in bookkeeping, managing accounts payable/receivable, payroll, and generating insights through financial reports.

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Course Objectives:

By the end of this course, students will:

1. Set up and customize a Xero account for their business or clients.
2. Manage core financial tasks, including bank reconciliation, invoicing, and expenses.
3. Record and categorize business transactions accurately.
4. Run payroll and manage employees through Xero.
5. Generate, interpret, and export key financial reports for business analysis.

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Course Structure & Modules:

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Module 1: Introduction to Xero Accounting

• What is Xero? Overview of Xero’s features and benefits.
• Setting Up Your Xero Account: Basic setup, navigating the dashboard, and user permissions.
• Xero Subscription Options: Choosing the right plan for personal or business needs.
• Xero Interface Overview: Dashboard navigation, menus, and user settings.

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Module 2: Setting Up Your Organization in Xero

• Configuring Business Settings: Adding organization details, tax settings, and fiscal year.
• Chart of Accounts: Setting up a custom chart of accounts for accurate categorization.
• Adding Bank Accounts and Feeds: Linking bank accounts and setting up bank feeds.
• Importing Existing Data: Importing contacts, account balances, and historical transactions.

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Module 3: Managing Bank Reconciliation

• Understanding Bank Reconciliation: Key concepts and benefits for cash flow management.
• Automated Bank Feeds: Setting up bank feeds for real-time updates.
• Manual Reconciliation: Reconciling transactions, adding adjustments, and matching entries.
• Bank Rules for Faster Reconciliation: Setting up rules for recurring transactions.

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Module 4: Accounts Payable (Bills and Expenses)

• Creating and Managing Bills: Entering bills, categorizing expenses, and recording payments.
• Recurring Bills: Setting up recurring bills for regular expenses.
• Managing Suppliers and Purchase Orders: Adding suppliers, creating purchase orders, and tracking stock.
• Expense Claims: Recording, approving, and reimbursing employee expenses.

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Module 5: Accounts Receivable (Sales and Invoicing)

• Creating Invoices: Customizing invoice templates, entering sales invoices, and tracking status.
• Recurring Invoices: Automating billing for ongoing services and subscriptions.
• Tracking Inventory Sales: Adding products/services and tracking inventory levels.
• Applying Payments to Invoices: Recording payments received and handling overpayments.

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Module 6: Payroll Management in Xero

• Setting Up Payroll: Configuring payroll settings, taxes, and deductions.
• Adding Employees and Timesheets: Entering employee information and creating timesheets.
• Running Payroll: Processing payroll, generating pay stubs, and filing payroll taxes.
• Compliance and Reporting: Ensuring compliance with payroll regulations and generating payroll reports.

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Module 7: Managing Fixed Assets

• Recording Fixed Assets: Adding, categorizing, and valuing assets.
• Tracking Depreciation: Setting up depreciation rates and recording depreciation expenses.
• Asset Disposals: Recording the sale or disposal of assets and calculating gain/loss.
• Generating Fixed Asset Reports: Understanding the fixed asset summary and schedules.

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Module 8: Financial Reporting and Analysis

• Introduction to Xero Reports: Overview of essential financial reports in Xero.
• Profit and Loss Statement: Running and analyzing income and expenses.
• Balance Sheet: Understanding assets, liabilities, and equity.
• Cash Flow Statements: Tracking and managing cash flow for business health.
• Customizing Reports: Filtering, exporting, and customizing reports for specific needs.

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Module 9: VAT, GST, and Tax Reporting

• Setting Up Tax Rates: Configuring VAT, GST, or sales tax for your region.
• Tracking Sales Tax on Transactions: Applying tax rates on purchases and sales.
• Filing Tax Returns: Preparing and filing tax returns directly through Xero.
• Tax Reports: Generating sales tax reports and understanding tax liabilities.

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Module 10: Project Tracking and Budgeting in Xero

• Creating Projects in Xero: Setting up projects and allocating budgets.
• Tracking Project Expenses and Income: Allocating costs and monitoring project profitability.
• Managing Budgets: Setting up and tracking budgets against actuals.
• Project Reporting: Analyzing project performance through reports.

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Module 11: Integrating Xero with Other Business Apps

• Introduction to Xero App Marketplace: Exploring available integrations for specific needs.
• Connecting with Payment Processors: Integrating Stripe, PayPal, and other processors.
• Third-Party Integrations: Overview of CRM, e-commerce, and time-tracking apps.
• Automating Workflows: Using Zapier and other automation tools to streamline accounting tasks.

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Module 12: Final Project and Certification

• Final Project: Students apply course knowledge to set up a sample business in Xero.
• Project Presentation and Feedback: Peer and instructor review for improvement.
• Certification Exam: Validate skills through a comprehensive final exam.

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Additional Course Resources:

• Customizable invoice and billing templates.
• Cheat sheets for bank reconciliation and tax reporting.
• Video tutorials for each major Xero feature.
• Access to downloadable practice files for hands-on learning.
• Regular live Q&A sessions and dedicated support channels.

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Learning Outcomes:

By the end of this course, students will:

• Be proficient in Xero for managing day-to-day accounting tasks.
• Have a solid understanding of Xero’s core financial reporting capabilities.
• Be able to confidently handle payroll, budgeting, and project tracking in Xero.
• Receive a certificate demonstrating proficiency in Xero Accounting.

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This course is suitable for business owners, aspiring bookkeepers, accountants, and anyone looking to develop their skills in cloud-based accounting with Xero.