Why Xero; You may be wondering – what is…and why should I use…Xero!?
13th August 2018
Xero is a simplified, online, (or cloud based for the more technical), book-keeping system. Xero is importantly compatible with Making Tax Digital for VAT purposes. Using the correct software, is a must for businesses who are Vat-registered (above the threshold of £85k), because as from 1 April 2019 Making Tax Digital comes into effect. From this date you will no longer be able to manually enter your VAT figures onto your online VAT return.
Plus Accounting are Gold Xero Partners for a number of reasons, one of which being the Making Tax Digital VAT element, but also because of its many other excellent services such as a choice of pricing, integration with over 700 applications, 24/7 online support, as well as us in the Plus Advisory team who are available to assist with your cloud accounting challenges.
Some of the services available on Xero are as follows:-
- A visually pleasing Dashboard instantly displaying your bank balances, debtor & creditor balances, allowing you to easily see what you are owed and what you owe.
- Direct bank feed – which means you link your bank to Xero (100% secure) and the transactions feed in automatically allowing you to then reconcile within Xero.
- Raise sales invoices straight from Xero with your company logo embedded. You can also set up payment services, such as Paypal or Stripe, so when your sales invoices are sent, your customer can pay direct – meaning you get paid faster.
- Posting purchases invoices into Xero couldn’t be simpler. If you have lots of purchase invoices – you should think about using the popular app, Receipt Bank. Our Plus Advisory team can show you how this works and even set it up for you too.
- Expenses in Xero – this is fab! You can add the Xero app to your phone and just take a photo of the receipt, code the expense and push it straight through to Xero, ready for authorisation. The receipt is also attached to the claim within Xero. Expenses will also convert other currencies to sterling – which can save you a lot of time.
- Payroll is available in Xero and we are happy to help you set this up, allowing you to run your payroll internally. (Experience in payroll advisable)
- Tracking is available should you have shops, stores or projects and want to identify the separate cost and sales for each one.
- 24/7 email support from Xero should you have any queries.