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Xero Online Accounting

Xero is a really easy to use online accounting system that is specifically designed for small businesses but critically allows both of us to work together more closely as we can both access your financial information from any internet enabled computer – no software to buy or update!

The system includes a full accrual accounting system with a cashbook, automated daily bank feeds, invoicing, debtors, creditors, VAT and comprehensive reporting.

Xero lets you do your accounting at home, out of the office or overseas. As long as there is an internet connection you can have access to your financial information anywhere, anytime.

With Xero you pay a fixed monthly fee. These start at £5.50 plus VAT per month for the basic non-VAT cashbook edition (£9.50 for the VAT enabled version of this), through £28 for the unlimited “standard” version or £36 a month for the “premium” version which adds multi currency functionality to the “standard” edition. We also offer fully inclusive packages where we look after your record keeping using Xero to allow you full access at any time, plus look after your annual accounts and tax compliance.

So there is no more expensive software to buy, install and upgrade and there are routines available to allow you to import information from Sage or Quickbooks should you decide to switch from those systems.

One stand out feature compared to the competition is that Xero will integrate with many other 3rd party applications which can add much more functionality.  Some of our favourites include Autoentry which allows you to automate invoice entries by scanning the documents, Workflow Max covers project and job costing functions, Unleashed is a very comprehensive stock control package, and Stripe or GoCardless allows you to add direct debit and other payment solutions for your customers to use and improve collections.

Key features of the system include:-

  1. Automated daily bank feeds of payments and receipts (additional charge applies to some banks, typically £1.50 per month). Many banks are supported but if not statements can be manually imported quickly and easily.
  2. Fast, simple and customised invoicing with the ability to e-mail them
  3. Available anytime you’re online
  4. Real-time collaboration with us, your advisors
  5. Safe and secure data – no backups to worry about
  6. Quick and easy VAT returns – fully Making Tax Digital compliant (MTD)
  7. Cashflow clarity
  8. Unlimited online Xero support at no additional cost with many online training videos to help too
  9. No installation, upgrades or maintenance
  10. Pay as you go with no up-front costs
  11. Integrates with Paypal and many other apps for easier collections from your customers, plus a huge range of additional uses
  12. Payroll functionality if you need to do calculations for your employees (additional charges apply)

Intro to Xero: small business accounting software from Xero on Vimeo.

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