Xero Online Accounting

What is Xero?

Xero is a cloud accounting system used by businesses worldwide. This basically means that Xero is a tool that allows businesses to track all transactions, and categorise them into their respective income or expense accounts. All this data will be stored online (or the “cloud”). Users can then generate detailed reports for business managers to look over. Most accountants are asked by management to generate financial revenue forecasts and to project expenses. This can be easily done within a few hours since all your data is stored and organised by Xero on the cloud.

For example, a business manager is able to generate an income statement with a single click. He can then look over figures of different expense categories to decide where to cut costs. WLP Academy’s Xero accounting course will show you the different types of categories and the different statements that you can generate.

Due to its popularity, Xero has even formed a partnership with local Singaporean bank DBS. With this new integration, business owners with corporate bank accounts with DBS will be able to get data on transactions automatically. This saves up the accountant’s time from manually importing data into Xero.

During the Xero accounting course, we will show you how the DBS and Xero integration works. We’ll show you how you can set this up yourself. It’s super simple and there’s always our technical assistants walking around the classroom if you can’t keep up with the Xero instructor.

The Xero online training programme will be conducted over Zoom. Our trainer will have a Powerpoint slide shared with the class while speaking and introducing everyone during the Xero software training. 

During the Xero online course, students can comment in the chat or raise their hand if they have a question. They can then unmute their mike to speak and the trainer will then share his answers with the rest of the class.

In addition, there will be breakout groups and group work during the Xero bookkeeping course. You will be able to chat and work with other students. This is a great way to network and get to know people within the accounting and business industry in Singapore! During the breakout groups, you will be assigned to categorise expenses into different categories. You may also be asked to depreciate an asset such as a machine, or even determine a company’s profitability!

Yes, it is! Accounting is a crucial part of business. But many business owners are still unfamiliar with bookkeeping and finance. Therefore, our Xero bookkeeping training is perfect for business owners!

Specifically, our Xero accounting online course has been planned to be practical for Singaporean SME owners who don’t need to know complex account rules. Rather, you should be familiar with accounting terms and Xero features that SMEs actually use, such as accounts receivables. You should be able to start managing your business Xero account by the end of the course.

Our Xero bookkeeping training has a focus on applying knowledge on real life situations. Many of our students are business owners or business analysts at local Singaporean firms. Therefore we encourage students to pull up their own books and use those numbers while learning to use Xero during the course.

Please note that this is subject to change depending on the course’s level of difficulty and time of reading. We update our syllabus in order to ensure that all our teachings reflect the newest versions of Xero and latest accounting practices.

Our Xero accounting course is divided into 5 modules. Each module will focus on a different area of Xero and accounting. The modules are:

1. Introduction to Xero. This includes the history of Xero and may include old versions of Xero as some companies have yet to update their software.
2. How to use Xero to create journal entries and correctly record different types of incomes and expenses.
3. How to use Xero to create invoices. This is especially important as creating invoice is the only thing standing between businesses and generating revenue. This is especially important for service businesses where all payments are completed through sending invoices. On the other hand, businesses that sell products (online) will need to integrate their Xero account with Stripe. We will cover this in more detail during our Xero online accounting course.
4. How to interpret reports generated by Xero. This is typically covered in a university accounting course. This includes reading the income statement, balance sheet and cash flow statement.

Upon completion of the Xero accounting course, you will be able to leverage on Xero’s features to manage your business. You will be able to track all cash inflows and outflows. You will be able to use Xero to create invoices to bill your customers. Most importantly, you will be able to analyse Xero’s reports and identify areas of improvements in your business. 

Everything a business bean counter should be able to do!

You will also receive WLP Academy’s certification which is recognised across Singapore. Though a university accounting or business degree is typically required when applying for a bookkeeping position, certifications from private schools have shown to help interviewees stand apart from other applicants.

It’s great to have a professional accountant do your bookkeeping and making sure that your books are in line with government regulations. The Singaporean government has some bookkeeping requirements for SMEs so you’d always like to make sure that you’re on top of that.

But that doesn’t mean that you can understand financial statements. Having an accountant do your accounting doesn’t mean that you’ll suddenly understand what “accounts payables” are, why they’re important, or the difference between an income statement and cash flow statement.

These numbers represent your business. Bookkeeping is more than keeping up with government regulations. It’s important information that help you make decisions as a SME owner and leader of your company.

Our Xero accounting instructors will go over Xero and accounting basics. Learning accounting gives you an advantage over other SME owners in Singapore.

You can log into your Xero account on their website at xero.com. It’s accessible on Mac or Windows.

If you enrol in our Xero accounting course, it would take not more than a month for you to gain expertise in Xero. Our skilled professionals know all the shortcuts on Xero and will help you to learn everything!

You can watch our training recording sent to you if you missed our online classes due to an unavoidable circumstance.

Yes, you will. Our trainers at WLP Academy will make sure that your issues and queries are resolved. We will help even after you are done with our Xero accounting course. Our trainers are more than happy to help after class too!

Our online courses about Xero software will teach you the basic key skills and will guide you throughout the process. If you are a beginner who has little to no clue about Xero, our courses will help you learn the essentials.