Description
This course will allow you to setup Xero correctly for your organisation and perform basic accounting functionalities. Xero is an off the shelf accounting software used by startups and SME's to raise invoices, pay their bills, bookkeeping, to run their P & L statements, budgeting and forecasting. After watching this video you will be able to do the day to day functions required for bookkeeping. The course will take you through how you can setup your organisation details correctly, setup your users, correctly choose your base currency, setup invoicing templates, integration with various payment services and setup email reminders. It will allow you to setup your Chart of Accounts, choosing income and expenses accounts, assets and liabilities accounts correctly. It will take you through how to invoice your clients, how to track invoices and then how to pay your bills through Xero in different currencies. It also includes tips for setting up your balance sheet and the classification of different items on the balance sheet and how to setup your balance sheet correctly. There are tips to pass manual journals, advice on who should be passing journal entries in your organisation and finally how to setup bank accounts on Xero and their classifications.
