Xero DIY Bookkeeping for Small Business (Australia only)


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Checked circle icon Course Benefits

Perfect for beginners and small business owners, you’ll learn step-by-step how to handle your daily business bookkeeping in this all-in-one course covering invoices, purchases, paying employees, business activity statements and more. The course provides over 24 hours of video instruction by a qualified chartered accountant. Finally, gain the confidence you need to manage bookkeeping in Xero like a pro!

Unlike other courses that use hard to understand words, this course breaks it down in easy-to-understand and relatable concepts. For example, what’s a chart of accounts? Well, we use a wardrobe and its compartments to illustrate this concept.

Through online pre-recorded videos that speak to you in plain English, you’ll be able progress through each learning area and then apply your learning through activities based on a case study. Furthermore, there are video suggested solutions so you can see bookkeeping in action!

We’re also here to make sure you succeed and get the support you deserve so that you can be on your way confidently managing the books in your business. The course provides you with support through a convenient online forum where you will be able to ask questions and get help.

Accountant picture

Taught by:

Vi Nguyen - a CPA (USA) and Chartered Accountant (Australia) with 8 years of accounting experience. She is has worked as a forensic accountant and finance manager and has valued Australia's top 200 Richest people for the Australian Financial Review's Rich List.

Book selection icon Learning Units

1. Introduction

You’ll log into Xero and be introduced to the concept of bookkeeping. Access to useful resources will help make bookkeeping easier for you and the case study will help you relate what you’re learning to ‘real life’.

2. Users, Settings and Contacts

Learn about how different users like employees and your accountant can access Xero. Get ready to set up basic information for your business and familiarise yourself with the contacts area (it’s like your address book).

3. Chart of Accounts

Your chart of accounts is like a wardrobe that holds all the paperwork for your business. Learn how it works and how you can set it up in a way that suits your business.

4. Recording Sales

Do you know what an invoice is? Customers may have requested one from you and it’s the record needed to show that you’ve made a sale. Find out how easy it is to record sales in Xero.

5. Receipting Money & Group Invoices

Sometimes, you may receive money as a direct payment (think of sales at the market), a prepayment or as an overpayment. You’ll learn how to record this receipt of money along with creating invoices to groups of customers.

6. Repeating invoices, credits & tracking

Extend your knowledge by creating once-off templates that generate automatic invoices for repeating sales. Learn how to provide a customer with a credit note or refund and use a feature called ‘tracking’ to fine-tune your data entry.

7. Purchase Orders to Purchases

Experience the other side of recording - that is, recording spending on purchases. You start with the beginning of this process by looking at purchase orders and progress to the point where you can record a bill.

8. Claims, Repeating Bills & Credits

Have regular monthly electricity bills? Or need to pay an employee for tools they purchased? Learn to record repeating bill, process expense claims and record credit notes from suppliers—these usually give you a discount on future purchases.

9. Spend Money: Direct, Prepay & Overpay

There are times when you don’t have a tax invoice yet but you may deposit a prepayment, overpay and directly spend on an item. This learning area shows you how to do all these three things in Xero.

10. Branding and Templates

Creating invoices that match the look of your brand or business is explored in this learning unit. You learn about basic branding templates in Xero and more advanced branding using the docx file.

11. Sales & Purchases Dashboard

Dashboards provide snapshots of critical financial information. In this learning area, you’ll go through the sales and purchases dashboard in more detail so that you can use it to operate your business more effectively.

12. Inventory

Say you buy a T-shirt that you use that to sell in your shop - the T-shirt is inventory. In this learning area, you’ll learn how to add, track, buy, sell and adjust inventory for stock levels and amounts.

13. Fixed Assets

Fixed assets are items you keep for business use like tools and equipment. You need to account for these items in a special way. This learning unit will go through purchasing and registering an asset.

14. Depreciation

Depreciation is a complicated area and the learning unit will make it easier for you to understand. You will learn what depreciation is in simple terms and how to process it for your fixed assets.

15. Accounting for Foreign Currency

In a globally-connected world, transactions in foreign currencies are quite common, especially through the internet. Using Xero multi-currency feature, you’ll learn how easy it is to account for sales and purchases made in foreign currencies correctly.

16. Setting up payroll

Records need to be kept for employees and Xero makes this easy. In this learning unit, you’ll learn how to set up your payroll system, organise pay frequency through ‘calendars’ and set up employee details.

17. Processing pay runs

Gain an understanding of how to process your pay runs and generate pay slips for your employees.

18. Bank Statements & Bank Feeds

Learn how to set up bank feeds—where your bank statement lines get ‘pushed’ into Xero so you have up-to-date information in Xero. You’ll also learn about csv files so that you can import your bank statements.

19. Bank Reconciliations

Discover what a bank reconciliation is, why it needs to be done and how much fun it can be in Xero. You’ll match transactions (spend/receive money transactions, invoices and bills), create transactions and record transfers between accounts.

20. Dealing with Discrepancies

In the real world, bank statement lines don’t always match up perfectly with your recorded transactions in Xero. In this learning area, you’ll find out how to deal and resolve differences detected in your bank reconciliation.

21. Your Regular Routine

Make bookkeeping a part of your normal routine rather than a once-off annual event. You’ll get a hang of the reviews you need to perform in order to make sure your data is complete and checked off.

22. Activity Statements

If you run a business, you’re bound to report numbers to the ATO at some point. Xero has a great report that can help you complete your activity statements so that you can easily obtain numbers in Xero to report your GST.

23. Budgeting

Think that budgeting is only for big business? Think again! Budgeting in Xero is simple to implement and can help your set targets for your business and take action to improve its financial performance.

24. Reports

People often do their bookkeeping because they have to for tax reasons ignoring that the data they entered goes into reports. You will look at three main reports: profit and loss, balance sheet and cash summary and see how they can help you save money, make money and overall, make better decisions.

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