So you think you’re pretty good at Xero? Find out exactly how good you are by seeing where you fit in below. This is also an excellent test for recruiting bookkeepers because many we see don’t even pass!
PASS
You’ll achieve a solid pass if you:
- enter everything in Xero through the bank accounts (blue Reconcile button)
- prepare your GST Returns in Xero
- regularly check that the bank balance in Xero agrees exactly to what’s showing on your paper bank statements.
- correctly match transfers between bank accounts
INTERMEDIATE
At this level you’re making the move towards ‘real accounting’ by:
- entering all your bills in Xero
- matching the bills to bank transactions when you pay them
- preparing your sales invoices in Xero
- emailing statements to customers from Xero
- never changing transactions which’ve already been included in a GST Return
ADVANCED
Reconcile xero everyday (or at least weekly)- Upload and store your bills in Xero
- Use Inventory items
- Network key with other xero users
- Use Tracking categories
- Can successfully record customer over-payments/prepayments
PRO (Chartered Accountants):
- Compile reports which comply with the relevant financial reporting laws
- Review claims in line with Income Tax and GST legislation
- Journalise non-cash items
- Prove transactional balances to external items including reconciling GST
The true test of your Xero skills (or your bookkeepers) can be done by checking the next GST Return after your Chartered Accountant finishes your end of year accounts. Go to the Adjustments page to see how many adjustments your Chartered Accountant made to your Xero file. If there’s less than a page of adjustments then you have excellent xero skills.
Want to improve your xero skills? Call us to chat about our support plans and by your side training 09 632 1137
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