Tag: financial reporting course

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BAS Course and Financial Reporting training by rescuing Jerry’s messy startup

Jerry profile startup course and social media marketing for small business entrepreneur

Some of the most challenging bookkeeping work is catchup or rescue bookkeeping. When there are 3 months worth of transactions of all different types and you need to

  • enter the data,
  • reconcile the bank accounts and
  • make sure that the tax, GST and payroll data is accurate –

Welcome to Jerry’s Messy Startup Case Study.

This course is designed for students or workers who already have an understanding about data entry for daily financial transactions, credit management and bank reconciliation.

You’ll work with 3 months of data and end up producing financial reports to help Jerry be compliant with the ATO for GST as well as his payroll PAYG obligations.

You’ll also give Jerry some useful insights into his messy business using financial reporting.

This BAS Course case study is available to help you learn BAS and Financial Reporting using QuickBooks, MYOB and Xero.

Information about these BAS Courses

  • BAS course in QuickBooks Online, MYOB and Xero takes approx 5 hours to complete
  • You are legally permitted to provide BAS services provided you are under instruction from the Business Owner, the business accountant or a registered BAS Agent.
  • BAS Services include Payroll and Superannuation calculations
  • Completing your BAS gets tricky with partial GST expenses
  • Data entry for historical transactions is what takes the most time when completing the BAS
  • Catchup or Rescue Bookkeeping is hard when the business owner can’t find copies of receipts
  • Business owners get stressed at BAS lodgement time because there are penalties for being late

More articles about BAS Courses

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Is Jerry Lames Next Quarter Normal?

Quarterly revenue and profit growth - business admin training course decisions - master financial reporting using Quickbooks, MYOB and Xero Courses

I wrote about the messy startup for Jerry’s new business venture. It is used in the BAS Courses for QuickBooks, MYOB and Xero and in The Next Quarter case study you’ll see the results of Jerry’s business decisions and how some of his financial transactions have turned out.

You’ll get enough information from the financial reports to advise Jerry how to make future decisions for his business – particularly when it relates to cashflow, credit management and purchases.

In The Next Quarter Bookkeeping Course case study we look at Jerry’s financial reports and start to keep better track of income vs expenditure as well as better ways to use his money (like buying assets vs paying off loans).

Jerry will also have the knowledge to make product and services decisions because he’ll know what is selling well and where he is making more profit.

Xero Advanced Certificate Training Course cashflow-forecast-charts-reporting-budgets

In The Next Quarter we look at how his business gets discovered online and what other digital marketing options are available to him.

We explore whether he should continue to use a project bidding site like HiPages or focus on getting more traffic to his own website.

Ultimately, no matter which digital marketing medium you use you’ll want to strengthen your sales skills to learn how to identify ideal clients and turn them into customers. At the same time you’ll want to learn how to help clients who are not ideal.

Cashflow is critical for the survival of a business. It’s like the blood pumping through the veins or the air going into and out of the lungs and without enough positive cashflow you don’t have a business that can survive.

This case study is used in our Advanced Certificate in Xero Cashflow and Financial Reporting Course.

See The Next Quarter Xero Bookkeeping Course CASE STUDY
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Need to Learn How to Read Financial Reports?

Payroll admin, workforce management biggest issues for Mechanics with MTANSW in 2017 financial report training course - EzyLearn

Financial reports reveal the financial state of a business and there are a bunch of standard reports for very specific parts of a business. The most common ones are the Profit and Loss Report and the Balance Sheet but they are more often referred to as Statement of Financial Position (Balance Sheet) and Statement of Profit or Loss .

If you’re a subscriber to this blog you’ll recall that I wrote about Xero’s 2023 financial report and how they announced a big loss yet their share price sky rocketed. There’s a lot involved in financial reporting and sometimes a business is more valuable if it is growing quickly than if it makes a loss, particularly if that loss is caused by one off items and helps contribute to future growth.

Continue reading Need to Learn How to Read Financial Reports?