Forum

First Previous - Page 1 of 1 - Next Last

Xero L2 A3

  • Student
  • 6 posts
  • # 122784

 

UPDATE - I've finally worked it out. Just in case anyone else gets stuck here... You don't add the payment in / out from the bank screen but from the invoice or bill itself that you are receiving payment for or paying. 

Hi, 

I'm looking for some help please.  I'm using Xero for L2 A3 and I'm getting very stuck on making and receiving payments from the bank.  When creating a new payment received from a customer for example the only options I have are direct payment, prepayment and overpayment. So I select direct payment and the details I need to fill in amongst others are account  / VAT.  If I use sales won't mess up the sales and VAT account?  I don't have accounts receivable in the drop down list.  I'm getting really confused about what I should be doing here.  Any help would be very much appreciated.

Susan



Edited at 10 Apr 2024 01:13 PM GMT

Edited at 10 Apr 2024 01:44 PM GMT
  • Associate
  • 9 posts
  • # 122790

Glad you found your answers Sulo! 

I managed to pass the L3 exam using Xero, for those reading this who have yet to do so I found the 30 day free trial relates to the business not you as the user so in reality you have 30 days for each business you set up, invaluable for fitting studies around full time work and family.

I didn't change account (nominal) codes, just added any I needed to. I took screen shots where i couldn't find comparable reports in Sage and found the help function in Xero very easy to use. Any other queries I spoke to ICB helpline and they were immediately helpful and accommodating. 
good luck everyone!
 
  • Associate
  • 6 posts
  • # 122806

Sallycat said:

“

Glad you found your answers Sulo! 

I managed to pass the L3 exam using Xero, for those reading this who have yet to do so I found the 30 day free trial relates to the business not you as the user so in reality you have 30 days for each business you set up, invaluable for fitting studies around full time work and family.

I didn't change account (nominal) codes, just added any I needed to. I took screen shots where i couldn't find comparable reports in Sage and found the help function in Xero very easy to use. Any other queries I spoke to ICB helpline and they were immediately helpful and accommodating. 
good luck everyone!
 

”

 Well done Sallycat in passing your exam! I have just passed too, so I'm super happy.... Good luck with your future career.
  • Student
  • 6 posts
  • # 122807

Sallycat said:

“

Glad you found your answers Sulo! 

I managed to pass the L3 exam using Xero, for those reading this who have yet to do so I found the 30 day free trial relates to the business not you as the user so in reality you have 30 days for each business you set up, invaluable for fitting studies around full time work and family.

I didn't change account (nominal) codes, just added any I needed to. I took screen shots where i couldn't find comparable reports in Sage and found the help function in Xero very easy to use. Any other queries I spoke to ICB helpline and they were immediately helpful and accommodating. 
good luck everyone!
 

”

Sallycat,

 

I found the ICB to be extremely helpful too.  And I also found that the Xero free trial relates to the company you set up and not the user, which was really useful for the mock then the actual exam without the time pressure.

I got my exam results on Friday and I passed :-)
  • Associate
  • 9 posts
  • # 122808

Well done guys! @Sulo @Neil Are you both moving on to M4? 
  • Student
  • 6 posts
  • # 122811

Sallycat said:

“Well done guys! @Sulo @Neil Are you both moving on to M4? ”

Thank you Smile 

Yes, I finshed the study text for M4 today.  So I'll do a mock before the exam at the weekend.  Have you started M4?
  • Associate
  • 6 posts
  • # 122812

Sulo said:

“

Sallycat said:

“Well done guys! @Sulo @Neil Are you both moving on to M4? ”

Thank you Smile 

Yes, I finshed the study text for M4 today.  So I'll do a mock before the exam at the weekend.  Have you started M4?

”

 

I'm giving myself a studying break for a few months as I want to get some 'real world' bookkeeping experince first. I'll probably enroll on the M4 course in September and go with TrainingLink, they look pretty good.

 
  • Associate
  • 9 posts
  • # 122813

Hi I've started M4 but nowhere near taking the mock, getting tied up with the different VAT schemes. I'll be interested in how you find the mock exam Sue.

good idea to get some real world experience Neil, good luck in your career and with Training Link. I'm still going it alone with self study for the next year but hope to pick up some voluntary experience too.
  • Student
  • 6 posts
  • # 122817

Sallycat said:

“

Hi I've started M4 but nowhere near taking the mock, getting tied up with the different VAT schemes. I'll be interested in how you find the mock exam Sue.

good idea to get some real world experience Neil, good luck in your career and with Training Link. I'm still going it alone with self study for the next year but hope to pick up some voluntary experience too.

”

 

Hi, 

I took the mock and failed it.  I couldn't get the balance sheet to balance, it was a high scoring question too.  When I reviewed the feedback it was something silly to do with stock and cost of goods sold.  Once I realised what I should have done I took the exam and thankfully passed.

I found the language in the exam was alittle different and threw me off a bit.  Onwards and upwards.  Starting M5 now.

 

Good luck to both of you.

 

Susan
First Previous - Page 1 of 1 - Next Last
loading