Xero is accounting software for small to medium sized businesses.
It provides a very user friendly interface that is easy to understand for both bookkeepers, accountants and business owners with no accounting background.
It is the perfect solution for a business owner who does not have the time for organising the paper work and financials of their business but still would like to be aware of this aspect and have an overview of their accounts on a regular basis, rather than the traditional way: being bombarded with the ins and outs once a year, when it is often too late to avoid catastrophic errors in the way the business is being ran!
As a bookkeeper and accountant, I fully recommend Xero, as one of the very most efficient, fluid, easy and adaptive softwares on the market.
I will take the reins and organise your business from the ground up, whatever you require.
From inputting purchase and sales invoices, to chasing payments. From VAT Returns, to self assessment tax returns. Regular inputting of all financial transactions that run through your business, either monthly or quarterly; ensuring that there is no opportunity missed to ethically reduce the tax payable by your business.
Having an expert bookkeeper working with you can save you hundreds, if not thousands, of pounds every year. I am regularly keeping up to date with what is happening in the finance world, so that I can apply this expert knowledge to your bookkeeping and accounts, in order to minimise tax and advise you of ways in which to make your business more efficient:
I can calculate all of your financial ratios, comparative to the market average, to see how you are performing. I can create budgets to measure your performance over several periods. I can advise you on ways to cut your costs and increase capital and profits.
Xero is the perfect tool for all of the above, and more. It is brilliant for CIS and inventory.
Starter package begins at £10/month. This is a very basic package which includes:
Send 5 invoices and quotes
Enter 5 bills
Reconcile 20 bank transactions
Submit VAT to HMRC for Making Tax Digital
Automatic CIS calculations and reports
Capture bills and receipts with Hubdoc
For £24 a month you can have all of the above, but on a limitless basis, which will be perfect for the majority of small to medium business owners. For those who have foreign trade, the premium version does all of the above as well as:
Handling foreign currencies
The main benefits to xero:
Speed: There are MANY features of xero which speed up inputting and reconciliation. This means that the cost to you, the client, will be lower. As bookkeeping will take a fraction of the time
Communication: On Xero, there is an option to send messages between client and bookkeeper, to request missing info etc
Automation: Xero has many integrated apps that make the bookkeeping more efficient. One of these for example, hubdoc, is free as part of (most) xero subscriptions.
Receipts: Snap your receipts on the go and either email these directly in to xero, use an integrated receipt app, or email them to me and I will upload these in to xero. It is the quickest way to process expenses. It makes receipts less likely to get destroyed or go missing, before they have been input and claimed as a tax deduction! Saving you money.
Autonomy: The ability to log in to Xero at any point and check your own data.
Cloud based: The ability to log on anywhere that has an internet connection, on mobile, tablet, laptop, desktop computer.
App: The Xero app makes uploading and reconciling receipts even quicker, with literally a swipe. It is simple and very speedy!
MTD ready: VAT Returns can be uploaded at the click of a button, as Xero is Making Tax Digital ready. Saves you having to upload and pay for bridging software.
Bank Feeds: Bank feeds mean that there is no longer any need for manual bank statements. The bank sends the info through to Xero, ready to reconcile. One less job for the busy business owner!
Bank Rules: Applying a bank rule is quick and easy. Once a rule is applied, this is given as a suggestion on every additional bank transaction that meets the criteria set. So instead of having to analyse each payment or receipt and then input the nominal code, contact, etc each time, you do this once, and in future just a quick check to see that it still applies, click, and done.