Xero Certified Advisor Xero Setup and Configuration 2

Question 1

When setting up a new Xero organization, which section do you use to configure the financial year-end date?

Accepted Answer

Settings > General Settings

Answer

The financial year-end date is configured under Settings > General Settings in Xero.

Question 2

A client's Xero organization needs to track inventory items by multiple warehouses. Which Xero feature supports this?

Accepted Answer

Tracking categories

Answer

Tracking categories in Xero allow businesses to segment transactions, including by location or warehouse.

Question 3

What is the maximum number of tracking categories you can create in a single Xero organization?

Accepted Answer

2

Answer

Xero limits each organization to a maximum of 2 tracking categories.

Question 4

When importing a chart of accounts into Xero via CSV, which field is required for each account?

Accepted Answer

Account Name, Account Code, and Account Type

Answer

A valid Xero chart of accounts CSV import requires at minimum the Account Name, Account Code, and Account Type for each row.

Question 5

In Xero, which account type should be used for a business credit card liability?

Accepted Answer

Current Liability

Answer

A business credit card is a Current Liability because it represents money owed in the short term.

Xero Certified Advisor Practice Test