Xero Project

Assessment Goal: Assess the students’ abilities to follow instructions to prepare financial statements using a computerized accounting software program.

Accounting software is used throughout the business world. Your role is to serve as the accountant for a corporation operating in the U.S. The parent company is located in Syndey, Australia. Your first step is to sign up for a free 30-day trial membership for an online accounting software program called Xero. The Xero Workbook will guide you through the process of recording and reporting the transactions of the corporation, which includes everyday accounting tasks such as: importing transactions, entering various daily transactions, bank reconciliations, and others. Step-by-step instructions are provided in the Manual found under Course Content in LEO.

At the end of the project, you will download the Balance Sheet, Income Statement and General Journal into pdf format. You will submit these documents to your boss (professor) via the appropriate LEO assignment folder.

Steps to Completion:

Follow the Xero Manual.

Deliverables:

· Balance Sheet

· Income Statement

· General Journal