Basic Accounting using Xero

Basic Accounting for Non-Finance Managers or Founders is a one-day public workshop which aim to provide an overview of the accounting knowledge and essentials to assist the managers, executives and founders in their daily activities. You will take some hands on demonstration to do the following: bookkeeping, invoice management, expense management and reading financial statements using Xero and how they interact in business decision-making. End of the day, you will how to use Xero to perform basic accounting to aid decision making.

Topics include:

• What is accounting?
• Reading 3 basic statements: balance sheets, income statements and cash flow statement.
• Setting up Xero
• Operating invoice management using Xero
• Operating expense management using Xero
• Using Xero to enable daily accounting matters [tax, budget, user]

Module 1. Basics of Accounting

• What is accounting?
• Bookkeeping
• Financial accounting

Module 2. Financial Accounting

• Financial accounting
• Overview of the balance sheet
• Balance sheet example
• Limitations of the balance sheet
• Differences between the balance sheet and income statement
• Overview of the income statement
• Income statement example
• Overview of the cash flow statement
• Cash flow example
• Summary of financial reporting

Module 3. Managerial Accounting

• Product costing
• Break even
• Budgets
• Real life examples of managerial accounting

Module 4. Xero Account Setup

• Sign Up Xero Online
• Xero Online Plan
• Xero Online Dashboard
• Chart of Accounts Setup
• Company Setup
• Setting: Organization
• Setting: Charts of Account
• Setting: Others

Module 5. Set Up a bank account

• Create a bank account + bank feed setup
• Import data into the bank account

Module 6. Issue an invoice

• Directly Issue an invoice
• Issue a quotation
• Convert the quotation into invoice
• Enable online payment to the invoice
• Add credit note to write off bad debt
• Overview on invoice management

Module 7. Expenses

• Purchase Order / Bill
• Claim Expense

Module 8. Tax

• Setting up the tax
• View the tax report

Module 9 - Reports

• All Reports
• Popular Reports
• Running Reports

Module 10. Other Tasks

• Manager Users
• Connected Apps
• Help & Resources

Andrew Weida Liew is an experienced business consultant, 4 X start-up entrepreneur, trained econometrician and technology product strategist having served businesses in major industry sectors of all sorts of scale across 9 international cities. Andrew has worked with global enterprises to unlock innovation and drive corporate performance and value and also worked with startups to ‘hack’ new products and scale their operations. Some of Andrew’s selected achievements include, most recently, coming in 3rd for the DBS Hackathon 2015 (Singapore), spearheading as Innovation Project Leader, in charge of working with DBS executives to build a prototype app within 5 days with a potential impact of 250,000 daily active users in the digital banking space.

Andrew holds a Master of International Economics from the Australian National University and also a Master of Commerce from the University of Sydney and was awarded with a Beta Gamma Sigma.