Xero: e-learning guide

Xero training guide

Xero training guide

om.uk

Xero training guide

Document Title | Page Title

Xero is the trusted accountancy software for over 2 million businesses worldwide There are over 800 apps in the Xero marketplace which can give you assurance that there is always a solution that’s right for your business. We are on hand to help you with deciding which apps are right for you.

So, let’s begin your training starting with some of the basic features of using Xero.

If you would like to speak with a trainer about how to use any of these features more efficiently, please add it to your pre training checklist and we will be sure to cover it for you. *** Please press and hold ‘Ctrl’ and click on the images in this document to use the links.

om.uk

Xero training guide

Understand the dashboard (2 mins)

Confirm your settings (4 mins)

The Xero dashboard is a fantastic place to see all your key information in one place. If you keep your data up to date using our Receipt Bank offering, you will be able to see live, real time stats which tell you exactly how your business is performing.

There is some basic information which is required in Xero to make sure the reports you run are accurate and your customers and suppliers are receiving documents which are tailored to your company. Key information includes company name, address, delivery address, logo, social media channels and principle activity.

The Xero dashboard can be tailored to include any codes that you want to see or keep track of. There is also the option of including KPI information so if you would like to hear more about these features please add it to your pre-training checklist.

om.uk

Some of the design tailoring can be a little tricky and it is possible to create packing slips using a template created by Xero. Again, if you would like to cover this in your training then please select this section on the pre-training checklist.

Xero training guide

Attach files (2 mins) Attaching files is a key process which should not be overlooked.

It means that you can claim back the maximum amount of VAT and invoices are easy to locate if a supplier queries a transaction.

Any further questions on this feature, please add this section to your pre-training checklist.

Although this process is simple in Xero it does have its drawbacks. Invoices are not read very well by Xero technology meaning that you can still end up having to type in the details manually. To overcome this, we would like to introduce you to Receiptbank. This software means that uploading invoices becomes as simple as taking a picture on your iPhone. We will be in touch regarding integrating this with your account, but in the meantime please feel free to watch this video which explains how it works

om.uk

Xero training guide

Connect bank accounts (3 mins) Bank connections will only stay live for 3 months. This means you will need to understand the process of refreshing your feeds on a regular basis.

If you have having difficulties setting up your feed, then put it on your pre-training checklist and we will talk you through the process on the training call.

om.uk

Reconcile the bank accounts (5 mins) The great thing about Xero is that it will learn where you post things to over time. However, to begin with you will need to watch this short video to understand how to reconcile transactions.

Some of these reconciliation processes such as matching a payment off against multiple invoices can be a little trickier.

Again, if you would like to talk over this in more detail then please select this section on the pre-training checklist. .

Xero training guide

Create quotes (3 mins)

Invoicing customers (5 mins)

This section is only relevant to you if you create quotes for customers. If not, you will probably not use this functionality and so should move on to the next section.

Once you have set up your inventory items, invoicing customers becomes much easier. One key thing to note is the functionality to add payment options to your invoices. This allows customers to pay your invoices straight away by following a link on the invoice to your PayPal or check out system, thus improving your cash position.

Xero allows you to create quotes for customers and then turn these into invoices at the touch of a button. This helps cut down time spent on creating two separate documents.

If you would like to discuss this further with our Xero trainer then please select this section on your pre-training checklist.

om.uk

This is an important area to get right. If you have any questions at all let our trainer know by completion this section on your pre training checklist.

Xero training guide

Create purchase orders (3 mins) Xero allows you to create purchase orders and then turn them into bills seamlessly.

To improve this process, we can also add a piece of software called Approval Max to your subscription. This allows you to set up approval workflows meaning that all invoices need to be approved by the correct person before they can be paid. If you would like to hear more about this or the purchase order functionality then please include this section in your pre-training checklist.

om.uk

Xero training guide

Pay suppliers (4 mins) This section covers how to raise bills (one off and reoccurring) on Xero as well as assigning expenses to customers. It also covers planning your future cashflow by selecting expected payment dates. Its important to put these dates in accurately for the cashflow forecast to work so please bear this in mind when using the due date function in bills.

One of the drawbacks with Xero is the need to manually input the payments details for a BACs run in your bank.

However, there is a solution to this which makes BACs run far smoother called TransferWise

om.uk

If this interests you, then watch the video on the link below and then add this section to your pre-training checklist.

Xero training guide

Manage projects (5 mins)

Manage expenses (4 mins)

This section is only applicable to businesses who manage projects. If you don’t do this, then please skip this section.

If you have employees that travel and therefore submit expense claims the Xero expenses function will save you time and allow those expenses to be recognised sooner. No longer will you be hit with large, unknown expenses from employees that have been stock piling receipts. Features include uploading expenses straight from mobile, setting expenses as either reimbursable or nonreimbursable and calculating mileage using an interactive map.

Xero has some great functionality around managing projects including the ability to set budgets, add time costs and assign expenses to your project. This can then all be viewed on a simple to understand dashboard.

This is a big area and can be a great help to you if you manage projects. Therefore, if this is the case, please tick this area on your pre-training checklist and we will cover it off in more detail on the call.

om.uk

If this interests you, we will need to add this to your subscription.

Depending on the complexity of your expenses it might also be worth exploring other more sophisticated apps that would suit your needs better. Therefore, please tick this section on your pretraining checklist and we will cover this during your training.

Xero training guide

Access support (2 mins)

Connect apps (2 mins)

Please consult Xero first as most of the answers will be there.

However, we are on hand to help with basic queries but please bear in mind that if this becomes a bigger piece of work we will need to charge.

The Xero app marketplace contains over 800 applications which are all designed to improve the way your business operates. However, the ecosystem can be a bit of a minefield with every one of them claiming to be the best. Therefore, why not speak to our cloud accounting expert who can help.

If you would like to have a conversation about utilising some of these apps then add this to your pre-training checklist and we will arrange a time for you to chat with our cloud accounting expert.

om.uk

Xero training guide

Document Title | Page Title

Further courses you may find useful • • • • •

Business accounting with Xero Discover Xero payroll Get started on payroll Xero expresso Xero hour

If you would like to take part in any of these courses then please book yourself onto them via Xero Central, learning section. Simply log into Xero Central, change the tab at the top to learning and then enter one of the above descriptions in the search bar.

om.uk

Xero training guide

The team Sarah McNairn Accounting Technology Trainer sarah.mcnairn@om.uk 07825 620045 Wayne Bastian Adviser wayne.bastian@om.uk 07866 035706

om.uk

Thank you

This document and any attachments to this document are confidential and contain information from Old Mill that is privileged. You may not read, copy, distribute, or use this information without written consent from Old Mill.