In the Xero Bank Reconciliation and Journal Entry scenario we profile a small business owner just starting out who lends his company money for cashflow, buys a car that needs to be depreciated, spends money on advertising and marketing to build awareness makes some small sales and pays himself a wage on an ad hoc basis depending on his bank balance.
The purpose of this workbook is to take students through common entries that occur once off and that are not normally part of the quoting, invoicing and payment entries that occur in the Xero Daily Transactions Course.
Topics include: Direct debits that come out of your account automatically, Interest charges or payments, Capital Purchases & Payments, Merchant and bank charges, find duplicates or omissions and correct the data, enter in new transactions, correct coding for these transactions, viewing an unbalanced bank rec and fixing the issues.
You're presented with a bank statement as well as step-by-step instructions for the data that needs to be entered and corrected.