Money Management Tools


Xero Accounting Software

Learn Xero accounting software in a comprehensive online course taught by a practicing CPA, CGMA, CPI, with BS tax

4.66 (133 reviews)

Xero Accounting Software



28 hours


Feb 2020

Last Update
Regular Price


What you will 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


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.


Getting Started - Getting Setup - Xero 2020

.10 Xero Free 30-Day Trial

Data Files to Download

1.05 Navigation Overview

Customer Cycle , Cycle, or Accounts Receivable Cycle - Xero 2020

Data Files to Download

1.15 Customers Section Flow

1.16 Customer Section Invoice

1.17 Customers Section Receive Payment

1.18 Customers Section Deposit from Clearing

1.19 Customers Section Sales Receipts

Vendor Cycle, Purchases Cycle, or Sales Cycle - Xero 2020

Data Files to Download

1.20 Vendors Section Bill Form

1.22 Vendor Section Payable Payment

1.23 Vendors Section Purchase Order

1.24 Vendors Section Check

Employee Cycle and Other Core Features - Xero 2020

1.25 Employee Section

1.28 Others Section

1.30 Reports

1.40 Help Options

1.45 Print & Export Reports to Excel

1.50 Backup Options

Balance Sheet Reports - Xero 2020

Data Files to Download

2.10 Balance Sheet

2.15 Balance Sheet Report Settings

2.20 Balance Sheet Edit Layout

2.30 Comparative Balance Sheet

2.40 Summary Balance Sheet

2.50 Memorize Custom Report Group

Profit and Loss or Income Statement Reports - Xero 2020

3.10 Income Statement

3.20 Comparative Income Statement

3.25 Vertical Analysis Income Statement

3.30 % of Expense Income Statement

Statement of Cash flows & Other Common Reports - Xero 2020

4.10 Statement of Cash Flows

4.20 Income By Contact Report

4.30 Aged Receivables Report

4.35 Aged Payables Reports

4.40 Sales Graphs

4.45 AR & AP Graphs

Course Project Start - Set Up New Company File, Preferences, & Users

Data Files to Download

6.01 Set Up Organization Details

6.02 Users Add & Manage

6.03 Add Apps, Currencies, & Subscriptions

6.05 Payment Services, Invoicing, & Features

6.06 Projects, Files, & Other Settings

Set Up Service & Inventory Items & Enter Inventory Beginning Balance

Data Files to Download

6.09 Objective

6.10 Items - Service Set Up Part 1

6.11 Items - Service Set Up Part 2

6.13 Items – Inventory Set Up Part 1

6.14 Items – Inventory Set Up Part 2

6.14 Items – Inventory Set Up Part 3

Add Customers & Vendors - Enter AR and AP Beginning Balances

6.15 Set Up Customers & Beginning Balances

6.20 Set Up Vendors & Beginning Balances

Add Accounts & Beginning Balances, Checking, Credit Card, Notes Payable, Equip.

6.25 Add Bank Account

6.26 Add Credit Card

6.27 Add Notes Payable

6.28 Add Equipment Account

Adjust Equity, Payroll Options, & Reports

6.35 Payroll Options

6.55 Generate Transaction Detail Report

Month 1 - Deposits from Owner & Loan, Purchase Furniture, Sales Tax Set Up

7.05 Record Owner & Loan Deposit

7.10 1 Record Purchase Furniture

7.10 2 Record Short-Term Investment

7.16 Sales Tax Set Up

Month 1 - Purchase Orders & Invoices

7.17 Purchase Order Part 1

7.18 Purchase Order & Add Inventory Item

7.20 Part 1 Create an Invoice with Inventory Part 1

7.20 Part 2 Create an Invoice with Inventory

Month 1 - Receive Payments Forms

7.25 Part 1 Receive Payment

7.25 Part 2 Receive Payment

Month 1 - Sales Receipt & Deposit

7.30 Part 1 Sales Receipt

7.30 Part 2 Sales Receipt Service Item

7.35 Deposit Records Group Deposits

Month 1 - Receive Inventory & Link Expense Form to Purchase Order

7.40 1 P.O. Billed & Paid Part 1

7.40 2 P.O. Billed & Paid Part 2

Create Invoice From Linked Billable Expense & Make Deposit

7.45 Invoice Created From Purchase Order Part 1

7.46 Invoice Created From Purchase Order Part 2

7.50 Receive Payment & Make Deposit

Month 1 – Enter Checks & Expenses & Pay Bills

7.55 Enter Check & Expense Forms

7.60 Pay Bills

Month 1 – Customer Jobs & Sub Customers, Projects, & Payroll

7.65 Projects

7.70 Pay Employees Part 1

7.71 Pay Employees Part 2

7.75 Sales Receipt Service Item

Month 1 – Reports & Review of Data Input

7.80 Generate Report Export to Excel

Month 2 - Loan Payments & Short Term Investment Sale

Data Files to Download

8.02 Consolidate Loans

8.03 Loan Amortization Table

8.05 Make Loan Payments

8.10 Short Term Investment Deposit

Month 2–Purchase Order, Enter Bill for Inventory, Sales Receipt, & Deposit

8.15 Purchase Order With New Inventory Item

8.20 Receive Inventory Requested With P.O. Enter Bill

8.25 Sales Receipts & Deposit

Month 2 – Advanced Payments & Apply Credit to Invoice

8.30 Advanced Payment From Customer

8.35 Apply Credit Or Advanced Payment to Invoice

8.40 Record Sales on Account

8.45 Advance Customer Payment or Deposit

Month 2 – Enter Bills, Pay Bills, Customer Payment, Pay Sales & Payroll Tax

8.50 Bills Track & Pay

8.55 Customer Payment & Deposit

8.60 Pay Sales Tax

8.65 Pay Payroll Taxes

8.70 Enter Bills & Pay Bills

Month 2 – New Service Items to Invoice, Finance Equipment, & Payroll

8.75 Enter Service Items & Invoices

8.77 Purchase Equipment with Debt

8.80 Payroll

8.90 Rental Income New Service Item New Income Account

Month 2 – Month End Reports

8.95 Comparative Financial Statements

Bank Reconciliations

9.02 Bank Reconciliation Objective

9.10 Bank Reconciliation First Month Part 1 Deposits

9.11 Bank Reconciliation First Month Part 2

9.14 Bank Reconciliation Second Month Part 1 Deposits

9.15 Bank Reconciliation Second Month Outflows

Month End Adjusting Entries & Reversing Entries

10.10 Short Term Loan Adjusting Entry

10.11 Short Term Portion Of Loan Adjusting Entry

10.15 Loan Payable Adjusting Entry #2

10.17 Reversing Entry Notes Payable

10.25 Accrued Interest Reversing Entry

10.25 Invoice & AR Adjusting Entry

10.26 Invoice & AR Adjusting Entry Part 2 Solution

10.35 Accounts Receivable Reversing Entry

10.40 Prepaid Insurance Adjusting Entry

10.45 Depreciation Adjusting Entry

10.57 Journal Report & Financial Statements

Bank Feeds

Data Files to Download

315 How Do Bank Feeds Fit Into My Accounting System

320 Project Outline

325 Set Up Bank Feeds

360 Download Transactions From Bank

365 Import Bank Data

370 Add Expense transactions

375 Add Capital Expenditures

376 Add Capital Expenditures Part 2

380 Add Inventory Purchase

385 Add Amount Paid for Investment

395 Add Bank Charge

400 Sales Tax Calculation

400 Sales Tax Set Up

405 Deposit Loan

405 Deposit Owner

406 Bank Beginning Balance

415 1 Upload Bank Transactions

415 2 Add Expenses

420 Add Insurance

425 Add Payroll Checks

430 2 Add Loan Payment

435 Add Draw

440 1 Receive Payments On Invoice

440 2 One Deposit Two Invoices

445 Sales Receipt & Bank Feeds

450 Bank Reconciliation

460 Credit Card Bank Feeds Upload

465 2 Add Credit Card Data to Financial Stmts

470 1 Reconcile Credit Card

475 Bank Rules Deposit Same Customer Different Account

480 Bank Rules Amount Limit

485 Bank Rules Split Into Two Accounts

490 Bank Rules One Vendor Two Expense Accounts

495 Bank Rules More Rules


Glynnis30 December 2020

I learnt there is a lot more functionalities in Zero and how it can be used in relation to your bank.

Syed28 December 2020

Great way of teaching and having excellent knowledge. I found this course very helpful for me. I highly recommend it to others.

Serena22 December 2020

engaging and interesting perspectives with the comparison between the 2 softwares. Early moments yet for an in-depth appreciation though.

Aysha26 October 2020

Just started but so far so good. Like how instructor explains how the accounting equation is affected with each transaction and/or entry.

Ulrike4 October 2020

I think this course is fantastic for someone who has little or no accounting knowledge, goes into so much detail, covers every step from start to finish

Vikki11 August 2020

I definitely made made the right choice - Robert Steele is a great lecturer and his attention to detail and thoroughness in his teaching method has ensured that I finished this course with confidence.

Daniel16 May 2020

This is my first time, I gave 1 star for an Udemy course. Instructor is speaking way too fast...rushing thru the lecture like a bullet train. I guess he is using AI voices, I get headaches after an hour. This course is more suited for those who are already using Quick Book. If you have no experience with Quick Book, this course is not suitable for you :(

Peris12 May 2020

The experience is very much good and learning more ideas and skills in accounting using the XERO Accounting Software.

Roxanne4 May 2020

yes, it is a good match. I need to gain some more knowledge regarding Xero so that I have a better chance of getting a job. This is helping me to understand Xero in more detail

Iain17 April 2020

Just a bit confused by the references to Quickbook, I don't know Quickbooks, particularly the desktop version; so a little confusing when tutor switches between products. Additionally, it may become an issue between US and UK versions - UK version does not have the Income statement screen tutor is using!!

Malcolm17 April 2020

I signed up for a Xero course and there is far too much reference to Quickbooks which only confuses the learning process. Stick to the subject.

Atharii9 March 2020

really informative - i can relate alot to the quick books program as that is the accounting software i am using at the moment.


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Lee Jia Cheng
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