Post-Test: Xero

The demo company in Xero HQ lets you try out Xero’s features, and show them to a potential client. Which tab do you use to find the demo company?

• Explorer

• Ask

• Practice

• Client

Answer explanation

You can find the demo company from the Practice tab of Xero HQ, and use it to showcase Xero to a potential client.

The client list in Xero HQ helps you manage your clients more effectively. How can you customise the client list to see which clients need your attention?

• Show their email addresses

• Show their industry classification

• Show their unreconciled items

• Show their business structure

Answer explanation

You can customise your list to show the unreconciled items for each client, to easily see who needs your attention.

Following best practice security for your Xero account means more than having a strong password. How does Xero apply multi-factor authentication (MFA) to your account?

• An authenticator app

• A secure internet connection

• My learning in Xero Central

• Your Xero certification

Answer explanation

As well as your email address and password, Xero uses an authentication app, like Xero verify, to apply MFA to your login.

Invoice numbers must begin at 1

• True

• False

What must you do before you can pay a bill using an account that is not a bank account?

• You can't record payments against a non-bank account

• Click "Enable payments" for that account

• Adjust the bill payment option in Financial Settings

What is the minimum information required to create a Contact?

• Contact Name

• Email Address

• Contact Number

• First and Last Name

What information does Xero use to match items on the reconcile screen?

• Amount, Contact, Due Date, Reference

• Amount, Reference

• Amount, Closest Due Date, Reference

• Amount, Contact, Reference

What is the difference between the two lock dates?

• One lock date locks all users except Advisors, and the other locks all users including Advisors

• One lock date locks all changes, whereas the other lock date locks all changes except Bank Reconciliation

• One lock date locks all changes, whereas the other lock date locks all changes

• There is only one lock date

If the conversion date is 1 July then the closing balances at what date will need to be entered into the conversion balances?

• 1 July

• 30 June

• 31 December

• Whichever date is the financial year end

What is the difference between the left and right transactions in the reconcile screen?

• Bank account transactions are on the left, bank statement lines are on the right

• Bank statement lines are on the left, bank account transactions are on the right

• Bank statement lines and bank account transactions are on the left

• Bank statement lines and bank account transactions are on the right