Cloud-Based Accounting Software - Report Writing - IT Assignment Help

Assignment Task:

Part 1: Set up your Xero account using your ECU student’s email account 

This part of the assignment is completed using the cloud-based accounting software, Xero and Microsoft Word. 

Access to Xero is via the invite email that you will receive in your ECU email account. Only assignments completed in Xero Learn will be accepted for assessment purposes. 

Our access to Xero is limited so you should start on the activity as soon as possible in Week 7. Transactions using Xero account will cease by 1 May 2020. You must complete this activity and make the necessary submissions by the required due date. 

To assist you in setting up your Xero account and company file, please start with the following:

1. refer to the invitation email sent to your ECU student email account

2. Set-Up your Xero account using your ECU student email. You will need to establish a two steps authentication process. Details of this is included in a separate document “Set up two steps authentication for Xero”.

3. Please set up the account by going through the above before attending the Blackboard Collaborate on Wednesday (08/04) 5.30pm or 6.30pm class. 

Part 2: Complete the transactions of the practice company using Xero 

Refer to the file ‘Whadjuk Dreaming’, it contains the accounting information of the practice company – Whadjuk Dreaming. You are required to complete the accounting transactions using Xero (a computerised accounting program) on an INDIVIDUAL basis for accounting transactions for of Whadjuk Dreaming. The transactions can be found from page 13 of the file ‘Whadjuk Dreaming’.   

Part 3: Prepare financial report from Xero after entering all transactions up to 31 July as a group 

Once you have completed the accounting requirements in Xero the group is required to export them to PDF the following reports from Xero. The group needs to submit these reports as Appendices to the written report

The required reports to be submitted in PDF format are:

• Balance Sheet – July 20XX – No comparison – Accrual – no decimals

• Profit and Loss – July 20XX – No comparison – Accrual – no percentages – no decimals 

• Statement of Cash Flows – July 20XX – No comparison – Gross Tax on Operating Activities – no decimals

• Bank Reconciliation Summary – July 20XX

• Activity Statement – Default settings – September quarter

Your report format should be in the blue ticked/new report formats unless that is not an option.

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