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This document provides information about Xero accounting software. It includes examples of software applications and computer hardware. It discusses how accounting software can prevent or minimize human error and fraud related to overstated accounts receivable or computation errors. The document also contains quizzes to test knowledge about accounting software features and functions. Key topics covered include the differences between desktop-based and web-based software, how files can be attached in accounting software, and common reports, invoices, and billing functions within accounting packages like Xero.

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Mia
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94 views

Ais Reviewer

This document provides information about Xero accounting software. It includes examples of software applications and computer hardware. It discusses how accounting software can prevent or minimize human error and fraud related to overstated accounts receivable or computation errors. The document also contains quizzes to test knowledge about accounting software features and functions. Key topics covered include the differences between desktop-based and web-based software, how files can be attached in accounting software, and common reports, invoices, and billing functions within accounting packages like Xero.

Uploaded by

Mia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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AIS REVIEWER

QUIZ 1

XERO ACCOUNTING SOFTWARE

Examples of software application:

 MICROSOFT PAINT
 HUAWEI PHOTO EDITOR

INFORMATION TECHNOLOGY – the contextualization, conceptualization, construction


employment, sustenance, or administration of computer-based information systems, mainly
computer software and computer hardware.

Examples of computer hardware:

 CCTV CAMERA
 PRINTER

Human error or fraud that can be prevented or minimized by accounting software includes:

 Overstated computation of accounts receivable ending balance

Human error or fraud that cannot be prevented or minimized by accounting software


includes:

 Overstated hours rendered in factory time sheet

Example of accounting software:

 Zoho Books Small Business Accounting

TRUE OR FALSE: QUIZ 1

1. FALSE. Microsoft excel is better than accounting software packages in performing


business functions.
2. FALSE. A desktop-based software cannot connect to the internet.
3. TRUE. Cloud Storage saves physical computer storage space.
4. TRUE. Web-based software can be installed in a desktop or a laptop computer.
5. FALSE. Accounting Software packages will reduce overall costs of an organization.
6. TRUE. Desktop-based software uses the company’s own computer storage to store
financial information and transactions.
7. TRUE. A web-based software can be accessed via LAN connection.
8. TRUE. The use of accounting software will generally make transactions faster compared
to manual or excel-based processing of transactions.
9. TRUE. Desktop-based software packages are installable in desktop computers only.
10. FALSE. Accounting software packages are better than ms excel in performing business
function.

QUIZ 2

EXPENSE CLAIMS – are company expenses that are paid using the employees’ personal
cash
SUBTITLES – cannot be uploaded in Xero
GIS FILES, COMMA SEPARATED VALUES FILES, AND SCREENSHOTS – can be uploaded in
Xero.
FILES ARE ATTACHED TO INDIVIDUAL IN XERO AND EVEN IN OTHER ACCOUNTING
SOFTWARE BECAUSE:
 To substantiate transactions
 For easy reference and comparison for example of customer purchase order vs.
company invoice transaction.
UNDER ORGANIZATION SETTINGS:
1. BUSINESS REGISTRATION NUMBER
2. FACEBOOK ACCOUNT
3. TERMS AND CONDITIONS

AGED RECEIVABLES SUMMARY – is a report showing amounts owed by customers


categorized by days or minths outstanding per customer depending on company
preference on the presentation of the report.

UNDER CONTACTS MENU:

1. Customers
2. Suppliers
3. Employees

XERO MAIN MENU OPTIONS:

1. Organization
2. Dashboard
3. Business
4. Accounting
5. Projects
6. Contacts

UNDER “MY XERO” OPTION:

1. TIME OF LAST LOG IN


2. BILLING ACCOUNTS
3. PASSWORD SETTINGS

PURCHASE ORDER – a document that details the goods or services the customer agrees
to buy for a certain price.

“SPEND MONEY” FEATURE IS FOR DISBURSEMENT FROM A BANK ACCOUNT

DEPRECIATION OF EQUIPMENT – a transaction that is most likely to be recorded using


Xero’s manual journal.

QUOTE – is a document containing the proposed prices of goods and services required
by a client.

PAY RUN – a Xero feature that aids accountants in the computation of staff salaries.

TRUE. The “Do more with Xero” option will enable you to connect to third party
applications such as Debtor Tracking and Customer Integration.

UNDER XERO ICON MENU OPTIONS:

1. Create New
2. Search
3. Notification
4. Profile
5. Help

INVOICE – is a document that itemizes the goods and services a supplier provides to a
customer and creates a liability on the part of the customer to pay for the said goods
and services.

CURRENCIES IN XERO:

1. Egyptian Pound
2. Honduran Lempira
3. Tunisian Dinar

25 MB PER FILE – file size limit in uploading files in feature of Xero.


QUIZ 3, BONUS QUESTION YATA ‘TONG QUIZ 3 HAHAHAHAHAHA

QUIZ 4

UNDER DRAFT INVOICES MENU:

1. Submit for approval


2. Copy to
3. E-mail
 Hindi kasali ang print peview

STATEMENT TYPE SET TO “ACTIVITY” will not show STATUS OF EACH INVOICE

UNDER INVOICES INTERFACE:

1. Paid
2. From
3. Sent
 Hindi kasali ang awaiting approval

FALSE. Invoices information from other accounting software can be integrated to Xero
by importing pdf files.

“DATE” in invoices interface refers to DATE THAT THE USER CHOOSES WHEN
PREPARING THE INVOICE.

A REPEATING INVOICE WILL BE USED WHEN SALE OF 3,000 PALLTES OF FLOUR TO A


CUSTOMER EVERY MONTH FOR THE NEXT 8 MONTHS.

UNDER INVOICES INTERFACE:

1. DUE DATE
2. INVOICE REMINDER
3. SEARCH
 Hindi kasali ang customer number

AWAITING APPROVAL – a user with a standard user role prepared and posted a new
invoice.

AWAITING PAYMENT – a user with an adviser user role prepapred and posted a new
invoice and it cannot be deleted.
“DEPOSIT” option is for RECORDING INVOICE PAYMENT TO CUSTOMERS

TRUE. The invoice amount of draft invoices will not be included in the statement of
financial position’s total receivables.

UNDER INVOICES INTERFACE:

1. Status
2. Awaiting payment
3. New credit note

STATEMENT TYPE SET TO “ACTIVITY” will not show STATUS OF EACH INVOICE

UNDER INVOICES INTERFACE:

1. Draft
2. New invoice
3. Ref

TRUE. An invoice can be found easier by typing customer name in the invoices search
function.

REPEATING INVOICES CANNOT BE REPEATED EVERY 7 DAYS

TRUE. Contact groups are for the classification of customers and suppliers according to
location, type of goods or services being ordered

PARTIALLY PAID INVOICES can be found under AWAITING PAYMENT

EXPECTED DATE IS THE EXPECTED PAYMENT DATE OVERDUE INVOICES

CREDIT NOTES are used to record SALES RETURN

THERE IS NO ACRONYM ON CREDIT NOTES ICON IN INVOICES INTERFACE

“COPY TO” OPTION IS FOR REUSING INVOIVE INFORMATION IN CREATING NEW


INVOICE, QUOTE, PURCHASE ORDER, OR BILL.

“PAID COLUMN” SHOWS PAID AMOUNT OF AN INVOICE

THE NEW INVOICE OPTION WILL BE USED WHEN GOODS ARE DELIVRED TO
CUSTOMERS

FALSE. Statement of Account is a report showing a list of all outstanding receivables of


all customers.
TRUE. Statement type set to “OUTSTANDING” will display all invoice and payments of
customers from the beginning.

INVOICE NUMBERS CANNOT BE REUSED ON NEW INVOICES

TRUE. Invoice files can be exported from Xero in csv, pdf or excel file types

“OVERDUE BY” will show NUMBER OF DAYS BETWEEN DUE DATE AND DATE TODAY

QUIZ 5

UNDER NEW INVOICING INTERFACE:

1. Mark as done
2. Change invoice fields
3. Online payments

UNDER BILLS TO PAY, CREATE NEW BILL, AND PURCHASE OVERVIEW:

1. Option to charge the bill to customers


2. Graph of projected payments
3. Option to create a bill from e-mail

MARKING A QUOTE AS ACCEPTED TO BE DONE WHEN THE CUSTOMER ACCEPTED THE


PROPOSED PRICES IN THE QUOTE.

TRUE. Some companies may include a phrase stating that prices in a quote are subject
to change instead of putting an expiry date.

UNDER CREATE NEW INVOICE:

1. Attach file icon


2. Region
3. Switch to new invoicing
4. Description
5. History and notes
6. Add a new line
7. Branding
8. Add last items

CREATE NEW INVOICE: UNDER HISTORY AND NOTES:

1. The user who created or edited the invoice


2. Date and time the invoice was edited
3. Type of changes made

UNDER INVOICE REMINDERS AND ADD REMINDER INTERFACE:

1. checkbox to include invoice link


2. option to exclude reminders below a certain invoice amount
3. option to include a placeholder for currency code

UNDER SALES OVERVIEW:

1. graph of projected cash inflows


2. top customers with largest outstanding invoice balance
3. total amount for each type

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