ACCT2062: You need to create and access a 30-day free Xero Trial file to complete the requirements of this assessment: Financila Accounting & Analysis Assignment, Financial Accounting and Analysis Assignment, RMIT, Singapore

1. Access 30-day free ‘Xero Trial’ to complete this assessment.

You need to create and access a 30-day free Xero Trial file to complete the requirements of this assessment. It is strongly recommended that you complete all the assessment requirements within the 30-day free trial period.

THE FREE ‘XERO TRIAL’ FILE WILL AUTOMATICALLY EXPIRE AFTER 30 DAYS. IF YOU ARE UNABLE TO COMPLETE THE ASSESSMENT WITHIN THE 30-DAY FREE PERIOD, YOU WILL NEED TO CREATE ANOTHER XERO TRIAL FILE AND COMPLETE THE TASKS FROM THE BEGINNING.

ONE TEAM MEMBER will create the free ‘Xero Trial’ file by following the instructions below and share the file with other team members to complete this assessment.

Follow the steps below to create a Xero account and generate a 30-day free Xero Trial file to complete this assessment.
i) Go to Xero sign up page: https://www.xero.com/au/signup

ii) Enter your details. Make sure you use your RMIT student email in the ‘Email
address’ box.

iii) Select ‘Singapore’ for the question “Where does it pay taxes?”.

iv) Go to your RMIT student email. Open the activation email from Xero. Check your spam folder if you don’t receive the email within a minute or so.

v) Click on the email link, create a password (at least 8 characters long including 1 number) and Activate.

vi) Log in using the email address you signed up with and password. Before going to the home page of your Xero Trial file for the first time, you might be required to enter the following information:
a) Add your business name: use the naming protocol (e.g. E Bike City – student name and student ID) as mentioned on the first page of this instruction booklet.
b) Industry: Select ‘Retail Trade’ from the dropdown list. (The dropdown list may change from time to time. Please choose something similar to Retails and Trade if you cannot find).
c) Last day of your financial year: 31 December.
d) Select ‘No’ to the question “Do you have employees?”.

This team member will need to then share the file with their team member(s) as follows:
i) Click the dropdown menu on the organisation name – E Bike City (top left corner) and select ‘Settings’.

ii) Then click on ‘Users’ under Organisational Settings.

ii) In the top right-hand corner of the screen, click ‘Invite a User’.

iii) Enter the team members first name, last name and their RMIT email address and tick ‘Business and accounting’. This will open more options regarding ‘Business and accounting’.

iv) Do not change anything, just accept the default options (i.e. Standard) and press ‘Send Invite’. Your team member will then receive the invitation in their email.

Once you have logged into (& shared with your team member) your ‘Xero Trial’ file, your first task is to import the csv data files provided to you in Canvas. The data files that you need to import into your Xero trial file are available at the following location:
Assignments>Assessment 2> data files.

The data files will need to be downloaded from Canvas onto your computer first in order to complete this task.

The importing process for the data files is detailed in the next section – 2. Import Data Files in your ‘Xero Trial’ organisation.