Xero essentials: what to learn first
There is a lot in Xero you will never need. These four things, in this order, cover most of what a business owner actually does.
- Bank reconciliation first, because everything else depends on it being right
- Invoicing has the most direct effect on your bank balance
- Supplier bills entered properly are what makes GST on purchases correct
- Learn them in order: bank reconciliation, invoicing, bills and purchases, then reports
One: bank reconciliation
First, because if your bank reconciliation is out, everything is out. This is also where the habit matters more than the knowledge: a weekly ten minutes is easier than a quarterly afternoon.
Two: invoicing
Getting paid is the part of the software with the most direct effect on your bank balance. Branding, terms and payment options set up once, then invoices that go out the day the work is done.
Three: bills and purchases
Supplier bills entered properly are what makes your GST on purchases correct. This is also where duplicates creep in, and where knowing what a duplicate looks like saves you finding it three quarters later. One session covers reconciliation, bills and invoicing together: bank reconciliation, purchases and invoicing.
Four: reports
The reason for the other three. A handful of reports will tell you almost everything you need about how the business is going, and being able to run them yourself means you find out on the day rather than weeks late. Our Xero reports and activity statement training teaches you to run them yourself.
You should not have to wait on someone else to tell you how your own business is going.
If you are still deciding how to learn, free courses, accredited units and one to one training are compared side by side in which Xero training actually fits.
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