XERO ACCOUNTING SOFTWARE REVIEWS TRIAL

Take a look for yourself by signing up for a free trial from the Xero Accounting website. It comes at a cost, but unless you have lots of spare time and don’t need to save any, it will be worth it. Xero is so easy to use, and packs in so many features and options, that we simply have to recommend it to all of our clients.

XERO ACCOUNTING SOFTWARE REVIEWS PASSWORD

Then you just have to enter your HMRC ID and password to submit the VAT return to HMRC without leaving Xero, unlike most other software packages. Also, Xero reviews the previously submitted period for any changes and brings those amendments into the current period. Xero reviews your settings for whether you are cash or accrual based, standard or flat rate, monthly quarterly or annually, then adjusts the VAT report accordingly. This can’t be automated but there are free add-ons such as Satago that can automatically send statements every month.Ĭalculating and submitting your VAT returns on Xero also couldn’t be easier. You can also send out statements to all of your customers in one go. There is also a Xero to Xero facility, so that a sales invoice raised in one Xero automatically appears as a bill in the other Xero. Reminders can be set up to automatically chase unpaid invoices. They can be set to repeat and emailed automatically. Sales invoices can be emailed or printed in batches. That quote can then be converted into a sales invoice to save you entering the details again. So it takes just a couple of minutes to enter details of a new contact, then click a few buttons to email them a quote. You can also set up template emails to use to send out the quote to potential customers. Starting with Quotes, you can set up template quotes as draft then copy the draft quote each time you need to use that template. It’s very flexible, easy to use, and can be automated in various ways to save time. There’s very little to fault with the whole sales side of things on Xero. So if you’re like us, you end up doing it every day for a few minutes rather than every month for a couple of hours.

XERO ACCOUNTING SOFTWARE REVIEWS UPDATE

In summary, the bank section in Xero makes it easier to update your accounts little and often. So you have a bank difference for that week. If your customer follows the link to pay your sales invoice via GoCardless for example, this shows as a bank receipt at that point even though it may take a week to reach your bank account. A minor problem with this is if you use a sales collection service linked to your sales invoices. You get a nice big green tick to confirm that you’ve reconciled all transactions and the balance on Xero agrees to the bank balance. Only the bank transactions are entered against into bank account via the free bank feed, so there should be no difference. In theory, the traditional bank reconciliation is a thing of the past with Xero. Then you just need to click on Reconcile in Xero review and ‘reconcile’ each transaction by either matching it to an invoice or creating a new income, expense or transfer. Once linked, your bank transactions can be imported with just a click of the refresh button.

This is done either via a third party service called Yodlee, or directly with your bank.

Recording bank transactions on Xero is easy and almost a pleasure! You can link Xero to almost any bank account to create a bank feed. This makes sure the relevant accounts are available such as dividends instead of drawings for companies. However, a chart of accounts can be imported, and that’s what we do when setting up our clients on Xero for free. So a few self-starters may end up with a few accounts missing and a few that are not relevant. These differ quite a lot depending on whether you are a company, partnership or sole trader. Unfortunately, at the time of this Xero review, it doesn’t offer a choice of tailored sets or charts of accounts. This is a great feature and a lot of our clients have done this perfectly well without any of our help. Where other software launches you straight in, Xero reviews your signup details then takes you step by step through the settings tailored for you, so that you don’t miss anything.

Xero accounting software reviews