Reesby Academy · Finance & Accounting Basics
Xero Basics for Small Business
Set up and use Xero for everyday bookkeeping tasks.
About this course
Cloud accounting software such as Xero helps small businesses record transactions, send invoices and reconcile bank accounts in one place. This course covers the everyday tasks, from setting up your file to running simple reports, so you can work confidently in the software. It is general information about using the tool and is not a substitute for advice from a registered accountant or tax agent.
What you will be able to do
- You'll be able to set up a company file with basic settings
- You'll be able to create and send invoices and record bills
- You'll be able to reconcile bank transactions accurately
- You'll be able to run simple reports to understand business performance
Course outline
- Setting Up Your File10 min · Lesson notes, example, action task · 2-question quizA well-set-up file makes everything else easier. Getting the business details, currency, financial year and chart of accounts right at the start prevents clean-up work later.
- Sales and Invoicing10 min · Lesson notes, example, action task · 2-question quizInvoices are how most small businesses get paid, so accurate, timely invoicing is central. Creating, sending and tracking invoices in the software keeps cash flow visible.
- Bills and Expenses10 min · Lesson notes, example, action task · 2-question quizRecording bills and expenses completes the picture of what the business owes and spends. Accurate supplier records and clear expense categories make tax time and cash planning far easier.
- Bank Reconciliation10 min · Lesson notes, example, action task · 2-question quizBank reconciliation matches the transactions in your software with the transactions on your bank statement. It is the step that confirms your records are accurate and complete.
- Running Simple Reports10 min · Lesson notes, example, action task · 2-question quizReports turn your recorded transactions into information you can act on. A profit and loss report and a cash position check are good starting points for most small business owners.
- Tools you'll need5 min · Lesson notes, example, action task · 2-question quizXero is a paid subscription, so the first step is to check what your business already has and what trial options are available. Several free or low-cost tools support the same tasks.
- Careers & next steps5 min · Lesson notes, example, action task · 2-question quizXero and cloud bookkeeping skills are valued in administration, finance and small business support roles. This lesson shows where they lead and how to check what they may be worth.
- Final quiz and certificate10 questions, pass mark 8 of 10. Pass to get your Reesby Academy certificate with a verification link.