If you’re looking for a highly-experienced Xero accountant, TaxBite’s knowledgeable team of chartered accountants can help you today. Our Xero-savvy accountants can help you manage your tax and accountancy requirements when using the best online accounting software.
Xero is market-leading accounting software that helps small business owners keep up to date with their accounting needs. Xero knows running your business while keeping on top of bookkeeping can sometimes be overwhelming for small business owners. This amazing accounting tool is there to simplify the process.
As entirely cloud-based software, users can carry out payroll and invoicing tasks while connecting to automatic live bank feeds.
For companies who are adhering to UK GAAP or IFRS, Xero is enabled for both cash-based and accrual accounting systems.
Whether you run your business from an office, a government facility, from home, or anywhere in the world – Xero works anytime and anywhere. Xero is often praised for being the world’s easiest online accounting system due to its effortless invoicing and payroll features. With Xero, you are provided with real-time updates on what’s going on in your business.
Xero accounting has a simple small business payroll feature which enables you to send payslips, run reports, and pay staff. With automatic account updates and HMRC submissions, this feature takes care of the tasks that you have to do.
The Xero Payroll software feature provides small businesses with the tools they need to track employee working hours, manage their leave and expenses, and process their payments efficiently. Staff or an accountant can be granted controlled access, too.
Xero VAT online accounting software simplifies the process of creating and submitting an online VAT return to HMRC.
The Xero bookkeeping and accounting app enables either the client or an accountant to manage all aspects of a business from anywhere at any time.
For businesses using Xero Payroll, your staff can record and track their mileage using a free self-service app called Xero Me. Claims can be submitted in the app staff use for viewing payslips and submitting their timesheets.
With Xero’s simple inventory management software, businesses can keep on top of stock and generate invoices and orders for items bought and sold. You can use the software to view reports on bestsellers and items that you might want to consider adding to the clearance sale.
Amazingly, you can keep track of up to 4000 items through Xero’s inventory management system. For ease of use, you can import item details using a provided CSV template. Users also benefit from the convenience of Xero’s export feature, where you can export entire lists of items into a CSV or a PDF file.
Many customers worldwide are using PayPal, and to avoid missing out on these sales, Xero accounting allows users to add PayPal as a payment service. It’s really easy to set up a PayPal feed, allowing you to accept payments from anywhere, in your preferred currency. For reconciliation purposes, PayPal transactions are imported to Xero daily.
Xero accounting allows you to integrate with Stripe online payments for businesses looking to achieve on-the-spot payments without any customers leaving the website. With Stripe, you’ll be able to accept credit cards, debit cards, Google Pay, and Apple Pay.
If you provide ongoing services or require a recurring payment, you can use the Auto pay feature for repeat billing customers.
You can use Xero Pay with Wise to pay bulk bills within Xero accounting. You can also combine multiple bills into one transaction.
Xero accounting software can read PDF information and create a draft bill. You can provide up to ten bills within one email. Any draft bills created are set to Tax Inclusive by default.
With Xero’s Pay Run tool, Xero can pay a few employees in the businesses’ base currency. Xero will also run your pay reports and manage certain employee data.
Xero is run on secure and encrypted cloud servers, so whether you’re a business or an accountant, you can rest assured that when you share sensitive data, it’s secure and protected. All info is encrypted and replicated in various locations to ensure it’s safe and ready when you need it.
Xero also has Multi-factor authentication (MFA) enabled at login for extra security.
As a team of chartered accountants who are well up-to-speed with Xero for quite some time now, we are keen to provide advice and services for clients looking into Xero.
While technology like Xero accounting/bookkeeping software makes it easier for you to file your own tax returns, it still comes with some risks that experienced accountants can mitigate.
Allow a trained accountant to guide you through the complications of tax codes and get it right the first time. If you are wondering what Tax code 1257L is check out our article.
Accountants are granted reassurance with Xero in a way they simply would not receive. You are put in charge of your own workflow and your client’s accounts and finances. Chartered accountants can become certified advisors within Xero (Xero Partner) and even find new clients.
As a Xero Partner, accountants are able to collaborate with the tool in order to grow their own accountancy institute.
As we mentioned previously, technology like Xero simplifies self-filing tax returns, but tax can be a risky business for clients without an accountant. It’s always worth investing in professional chartered accountants to ensure you have the right tax code, manage invoice data, and include everything you need.
Hiring the services of an accountant or accountancy company to help with managing your finances and accounting reduces your risk of having to invest even further down the line.
As a company, Xero’s got a great reputation for support whether you’re a client or an accountant. With their help centre, you can ask questions to learn Xero bookkeeping by yourself. You can also make use of Xero Training online to help you run your business, understand accounting software, practice, and get up to speed with your accounts.
While this amazing tool has lots of assistance for business owners, we still recommend hiring an accountant to ensure all your accounts are where they should be. An accountant will always keep up to date with Xero product news and updates, so you can focus on other things.
Xero accounting is better for smaller UK businesses with less accounting knowledge. This is because it’s lower cost, cloud-based, and allows faster access to any statements users may require.
Sage is the better accountancy tool in the industry for larger, more established UK businesses or companies. This is because Sage has more complex features, and deal with larger amounts of data or media. If you’re looking for a tool to manage a large account for an established company or association, we’d recommend Sage – and to hire the services of some Sage-savvy accountants.
Xero’s bookkeeping software has three pricing plans to suit different individual and business needs. All accounting packages offer 24/7 support. The United Kingdom GBP plans are as follows:
Starter: At £12 per month, the starter plan is great value for new businesses, self-employed, and sole traders. Users can:
Standard: £26 per month is all it will cost users to grow small businesses. The standard plan includes the following:
Premium: Xero’s premium plan costs £33 per month and is recognised as the best plan for various sizes of businesses, which are well-established. With premium Xero bookkeeping, you can:
With all of the above plans, it’s also worth noting you can also access the following paid add-ons to your account.
Users of QuickBooks and Sage can convert their accounts to Xero’s leading cloud-based accounting bolton software. It’s straightforward, won’t take up too much of your time, and it’s free to convert up to 24 months of accounts.
Xero has a free self-service conversion set up for Xero accountants to carry on where the business left off.
Contact TaxBite today to secure one of our dedicated Xero accountants to here more about our services, or for help in managing and processing your accounts. Our Xero accountants located in the United Kingdom are well up-to-speed with the latest tech, providing a fast and trusted service.
With our vast knowledge of the latest apps and systems, our accountants, bookkeepers and support team will be happy to advise you on whatever you require.
Contact our chartered accountants TaxBite office today for advice, support, to set up or use accountancy software. Click the link below to talk with one of our accredited Xero accountants about moving over to this amazing accounting software, so you can focus on building your company.
Xero aims to help small businesses all over the UK become ‘beautiful’, that’s why they’ve coined the term Beautiful Business software. Xero and Beautiful Business are trademarks of Xero Limited (Copyright 2022 Xero Limited).
Click the link above to chat to an accountant, and get started with our services today!