#Xero accounting software tutorial software#
However, our Xero software trainers believe that mistakes and difficulty in learning come from a gap in foundational knowledge. This gives you $800 and you would have to depreciate the capital asset by $800 every year.īasic accounting such as depreciation are usually not covered in standard Xero software training sessions. Say that the machine can be scrapped for $1,000 after 4 years. That capital asset will then need to be depreciated every year before getting written off at the end of its useful life.įor example, say that the company invested $5,000 into a machine which has a useful life of 5 years.
Instead, you will need to classify it as an investment in a capital asset. If a company were to invest $5,000 into a new machine, it should not simply be classified as an “Operating Expense”. For example, what is a fixed asset? How should you categorise an R&D (Research & Development) expense? After all, one can’t use Xero without understanding what accounting is. Our accounting instructors will start with the basics of accounting before even mentioning Xero.
This increases in difficulty and advances to more complex tasks such as depreciating assets.
#Xero accounting software tutorial how to#
Our Xero training program starts from the very basics – how to add new entries and add expense categories. What is Xero accounting software training?Īs the name suggests, Xero training is simply a course on learning how to use Xero.
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