Bookkeeping - Xero Accounting System

Overview:

Gained hands-on experience in bookkeeping and financial management using the Xero accounting system, performing end-to-end accounting tasks that cover data entry, transaction management, reporting, and financial analysis.

Key Tasks & Achievements:

Company Setup & Configuration: Created a sample company for demonstration purposes, establishing a foundation for bookkeeping operations.

Chart of Accounts Management: Added new accounts to the chart of accounts to organize financial transactions efficiently.

Customer & Tax Management: Entered customer contacts and set up new tax rates to ensure accurate invoicing and compliance.

Invoicing & Billing: Prepared invoices for customers and bills for vendors, ensuring all transactions were recorded systematically.

Banking & Reconciliation: Imported bank statements and performed bank account reconciliation to verify and match all transactions accurately.

Expense Management: Created expense claims, tracking business expenditures and maintaining accurate records.

Financial Reporting: Generated comprehensive reports to assess the business’s financial health, including:

          Profit & Loss Report – analyzing income and expenses over a period.

          Balance Sheet – summarizing assets, liabilities, and equity.

          Aged Payables & Receivables Reports – tracking outstanding payables and receivables for efficient cash flow management.

          Business Snapshots – providing a visual overview of financial performance.

This experience demonstrates my ability to manage the full spectrum of bookkeeping activities in a digital accounting environment, ensuring accurate financial records, efficient transaction management, and insightful reporting for business decision-making.