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Financial Literacy Training for Xero Users

Welcome to our six-week group training course designed for non-accountants who want to better understand and manage small business finances.

Upgrade your financial skills and, at the same time, master Xero bookkeeping and accounting software.

What You Get

Self-paced video training modules
Q&A sessions with your trainer
Choose from two program streams
Worksheets and templates provided
Small group format - max. 8 participants
Learn from an entrepreneurial accountant
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What is financial literacy?

Financial literacy is the ability to understand how money works. In this course, we look specifically at financial literacy in relation to managing small business finances.

Why is financial literacy important?

It doesn’t matter whether you’re a business owner or an employee, good financial skills go a long way towards making stronger, better business decisions.

Financial literacy is an investment

When you consider that cash flow issues are a leading cause of business failures and that most entrepreneurs have limited financial management experience, you can begin to see why improving your financial literacy is a vital investment.

Who is this course for?

This course is designed for any person who wants to improve their business financial literacy skills.

As you learn about business finance fundamentals, you’ll also discover the power and beauty of Xero, the world’s leading small business bookkeeping and accounting software.

This course caters for beginner to intermediate competency levels.

One course, two streams

The course is offered in two streams: one stream for small business owners and another for small business employees (including virtual staff and assistants.)

Both streams are hands-on and highly practical.

As you increase your financial management skills, you’ll also be learning to master Xero, used by nearly 2 million people all over the globe.

Small Business Owner Stream

This stream is customised for business owners and includes important, often overlooked content, such as “paying yourself”, as well as other specialty content related to business ownership.

Small Business Employee Stream

This stream, for small business employees (virtual or otherwise), has a focus on developing financial skills that can be applied in the workplace for an employer or client.

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Course Delivery and How It Works

This course is an interactive learning program, led by a chartered accountant and certified educator. Video training modules are supported by a series of online, live Q&A sessions where you receive personalised coaching in a group setting.

Video training modules
Collaborative Q&A sessions
Templates and guides
  • Not a lecture series – it is an interactive, trainer-led education program
  • Led by a certified and entrepreneurial accountant
  • Small group—maximum 8 participants per group—so you get more time to ask questions
  • Weekly online Q&A sessions
  • 6 x self-paced video training modules, with worksheets and templates
  • Weekly hands-on activities to support your learning
  • Weekly accountability check-ins to keep you on track
  • Access to a private ‘Slack’ group for Q&A during the course
  • Receive recordings of all live Q&A sessions to share or review later

Explore the Course Topics

The course topics are designed to develop financial literacy fundamentals, while building your Xero skills in relation to your specific business. We then dive even deeper in the Q&A sessions and online forum.


Getting started with Xero

  • How to set up Xero correctly
  • Chart of Accounts and its purpose
  • How to organise your Xero Chart of Accounts correctly
  • How to set up business bank accounts in Xero

How to ensure you get paid

  • How to raise (create) an invoice in Xero
  • How to allocate/code online sales
  • How to quote in Xero
  • Customer payment options
  • Reconciling – what it is and why you need to do it

Paying your bills and expenses

  • The difference between bills and cashcode
  • Using bank rules for payments
  • How to manage and pay suppliers, bills & other expenses in Xero
  • How to handle subscriptions (weekly/monthly recurring expenses)
  • How to pay yourself (for business owners)
  • What to do when a personal purchase is charged to a business account
  • What to do when a business purchase is charged to a personal account

Let’s do your books

  • How to perform basic (daily, weekly or monthly) regular bookkeeping
  • Basic features and functions of Xero software
  • Simple automation opportunities and how to apply them

Bank reconciliations

  • What a bank reconciliation is and why it’s important
  • Why and how to balance bank reconciliations
  • Common error identification and fixes

Understanding your financial reports

  • Key financial reports needed for good business management
  • Profit & Loss, Balance Sheet and Cash Flow
  • The purpose and value of financial reports in a small business context
  • How to interpret your financial reports and which metrics to look for

Making big financial decisions (part 1)

  • Purpose and value of month-end procedures
  • How reporting is linked to planning and future business success
  • Mapping a financial path to your business goals

Making big financial decisions (part 2)

  • How much to pay yourself
  • Using financials for strategic decision making
  • Protecting your business from fraud

What’s in it for your business?

Financial literacy and Xero small business training is an investment in your business and professional potential

  • Gain confidence as you stop worrying about blind spots or gaps in your financial management skill set
  • Apply what you learn in the course immediately and critically assess your business performance
  • Increase your business survival rate by understanding and taking better control of cash flow
  • Meet other business owners and operators and learn from their experiences and questions
  • Make better, faster decisions while reducing risk through better planning and forecasting
  • Have better conversations with your accountant because you both talk the same language
  • Get paid on time and pay your bills on time, including payroll and taxes
  • Much, much more

Do I need a Xero account to do this course?

We love Xero because it’s the gold standard in bookkeeping and accounting software for small to medium enterprises. Don’t have a Xero account? Don’t worry! We’ll show you how to sign up for a free account.

Meet Your Trainer

Meryl Johnston is the founder and CEO of Bean Ninjas, the global bookkeeping business she launched in seven days in 2015.

She’s a Chartered Accountant who has vast experience in commercial accounting roles and as an auditor and accounting lecturer.

You can follow Meryl on the Bean Ninjas podcast and blog where she shares her ideas about entrepreneurship, surfing and building a thriving global business that supports the freedom of its founders, staff and clients.

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The next Financial Literacy for Xero Users course starts on Monday 12th August.

Don’t take our word for it

Hear from previous students who have completed the ‘Financial Literacy for Xero Users’ course.

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