Xero Accounting Software 2020
Learn Xero accounting software 2020 in a comprehensive online course taught by a practicing CPA, CGMA, CPI, with BS tax
What you’ll learn
- Set up Xero Account
- Navigate Xero Software
- Enter normal business transaction into Xero accounting software
- Reconcile bank accounts using Xero accounting software
- Generate and analyze reports including a balance sheet, an income statement, and supporting reports
- Export Reports to Excel
- Xero accounting software is recommended
- We recommend Xero free 30 – day trial to get access to the software
This course will start at the basics, assuming you know nothing about the software or accounting.
We will then go through the purchasing process, the downloading process, and the installation process. Xero often offers a free 30 day trial which is a perfect tool to practice with.
The first half of the course will be dedicated to navigating the software, getting a feel for the major components of the software, and the primary accounting cycles such as the customer section or revenue cycle, the vendor section or payments cycle, and the employee section or payroll cycle.
Once we learn the primary sections or accounting cycles we will analyze the forms and transactions within each section, considering the impact each has on the financial statements. major accounting forms will include invoice, bills, pay bills, purchase orders, deposits, and more.
The second half of the course will be in the format of a comprehensive problem, working through two months of data impute.
We will enter every standard type of transaction as we work through the comprehensive problem. The comprehensive problem format will provide context to the data entry process, so we understand how the data impute fits into the accounting workflow.
A comprehensive problem also allows us to do more than simple data entry, data entry generally being the easiest part of the accounting process. We will be able to see how to set up the system to make the data entry as easy as possible.
We will also be able to see the impact on the financial statements of every transaction we make and be able to check our work after each transaction.
Author(s): Robert (Bob) Steele, Jane Clark