Tutorials

Tutorials by Electra Frost Accounting

We plan to produce and publish some new video tutorials of our own in early 2018. In the meantime, we have compiled this helpful list of other video guides from some other businesses and government departments that we often deal with.

Please follow our Facebook or Instagram pages to be informed when our videos are released.

Xero TV

Getting Started on Xero – See how Xero brings your cash flow to life with real time financial data available in the cloud – anywhere, any time on any device.

To learn more from Xero’s video guides, follow these links to the Xero TV page:

Should you be doing you own accounts in Xero?

It’s good to familiarise with these functions, however, is worth noting that many are for experienced bookkeepers and accountants. Advanced functions are beyond the competency level of most business owners and their staff, unless they have successfully completed a Certificate IV in Bookkeeping (the minimum qualification ).

We can provide training and support for you or your staff to undertake the daily business tasks, so that we can reconcile your accounts with insightful business reports each month or quarter, and do your BAS and tax returns.  This approach saves most of our clients the extra annual cost of a bookkeeper ($2,000 to $20,000 a year).

Xero is quite user friendly, though. So with some committed self-training and by investing in a good set-up and extra training sessions with us, you should be able to do your own monthly reconciling over time. Meet with us at BAS time over video so we can keep training you!

In our experience, many sole traders and some businesses without employee payroll find that they can eventually do their own BAS with Xero, if they have the time. However if you DIY but didn’t set up the system properly and you make a lot of mistakes, it will cost you a lot more later for us to fix your accounts transaction by transaction.

So please watch the videos and enjoy your learning experience with this most popular accounting software!

MYOB Show Me

In this video MYOB introduce you to AccountRight –  their hybrid desktop-cloud program – explain your next steps, and give you a tour around.

NEXT:

Bookmark this MYOB Show Me Page of short videos to learn about the various functions of MYOB AccountRight, including set-up, end of period compliance, sales and purchases, online access, reconciling, reporting and payroll.

It’s good to familiarise with these functions, however, is worth noting that this version of MYOB is designed for experienced bookkeepers and accountants. Many functions are beyond the competency level of most business owners and their staff, unless they have accounting work experience and have successfully completed the minimum qualification of Certificate IV in Bookkeeping.

We can provide training and support for you and your staff to undertake the daily business tasks, so that we can reconcile your accounts with insightful reports each month and do your BAS and tax returns. This approach saves most of our clients the extra annual cost of a bookkeeper ($2,000 to $20,000 a year).

Receipt Bank

Receipt Bank extracts the key data from your bills, receipts and  invoices and publishes it directly into your accounting software. It integrates seamlessly with Xero and MYOB AccountRight. By equipping you an iPhone/Android app, you can quickly take a photo of your expenses to keep your books up to date more quickly so time isn’t wasted by chasing paperwork.

Get acquainted with Receipt Bank here:

For the mere extra cost of 1-2 coffees a week, it can be a very worthwhile add-on to make it easier to work with your accountant. For more information, browse their YouTube channel and Contact Us.

Excel Basics: Maths Functions

If you have little or no experience with Excel, we recommend you to watch these easy videos before using our recommended Excel Templates. Each video is only a few minutes long and shows time-saving tips that could save you many hours of manual data work.

This help page is a good reference too: Use Excel as your Calculator

  1. Let Excel be your calculator. This video shows you how to add, subtract, multiply, and divide in your workbook.

 

2) A function is a predefined formula that helps save you time. For example, use the SUM function to add lots of numbers or cells, and the PRODUCT function to multiply them.

 

3) How do you know what part of your formula Excel acts on first, second, third, and so on? This video explains it.

 

4) Optional: Watch this video if you wish to learn how to create more complex formulas using multiple operators, cell references, and functions. 

 

Creative+Business Online Courses

Our fabulous friends over at Creative+Business have been doing excellent workshops for many years and are now offering  these online courses. These aren’t free, but we’re confident that they will offer great value to our clients who are interested in:

Here’s a 10 minute video of Monica Davidson presenting her Business Basics Seminar for those starting out:

 

ATO TV

Here’s a handy video from the Australian Tax Office on how to link your ABN to your MyGov account to make it easier to keep track of your dealings with them in one place:

http://tv.ato.gov.au/ato-tv/media?v=bd1bdiunypjcw7

For more videos, go here:   ATO TV Webpage

These videos are good for getting acquainted with general concepts of the tax system. However, be aware that any Tax Office information contained in these videos is not a substitute for professional advice which is tailored to your specific circumstances.

 

ASIC Connect: Business Names

ASIC Connect is where you go for business name registrations. Their website can be quite difficult to navigate at first. Thankfully they’ve released some video guides to let you know what you’re getting yourself into!

First Step – Log in or Sign up for an ASIC Connect Account.

Next – Learn more about ASIC’s online business name services here: