Xero Accounting Cycle & Year-End Financial Report — CBRS Pty Ltd

End-to-end bookkeeping and reporting for Columbus Bicycle Repairs & Service, a small proprietary company, acting as its external accountant under the name Atlantic Accounting Services.

Set up and maintained the accounting file in Xero — customer and supplier contacts, chart of accounts, and opening balances — then processed the full transaction cycle: sales invoices, supplier bills, customer receipts, supplier payments, credit notes and cash transactions, with accounts receivable and payable managed to an aged balance at year-end. Reconciled bank transactions across receipts, supplier payments, rent, insurance, wages and operating expenses.

Prepared the year-end adjustments: depreciation across five asset classes including two mid-year acquisitions, inventory to physical stock count, prepaid insurance and rent, accrued salaries, superannuation, annual leave and interest payable. Maintained the fixed asset and depreciation schedule supporting those entries.

Produced a general-purpose financial report prepared in line with AASB 101, comprising a statement of profit or loss, statement of financial position, statement of cash flows, statement of changes in equity, supporting notes, trial balance and adjusted trial balance, aged payables and receivables summaries, and ratio analysis. The written commentary compared June against May and explained the drivers behind the movements.

Tools: Xero · AASB 101 · Fixed asset and depreciation scheduling · Bank reconciliation · Accrual accounting