Blogger
Share this content
0
8
1669

Xero accounting system

A client has justed asked me about Xero accounting package. Can anyone share their experience to date? Is £19 per month the basic bookkeeping package? Does the bank download thing work? Is it easy to use? What is the reporting like? Just a few comments would be great.

Replies

Please login or register to join the discussion.

It is great

Download works a treat (bank feed is better though and saves loads of time).

Its straight forward to use and clients love it.

Reporting package is fairly basic but information can be easily exported to excel if you want something more fancy.

Once you're familiar with it, it will make your job a lot easier.

 

Thanks (1)

Wonderful

I use it for my own practice.  The bank link is brilliant, the software is reasonably intelligent (predicting which payments belong to which invoices etc), and the recurring invoice feature is great for monthly billing.

The reporting feature is, as Kent accountant said, is pretty basic, but does everything i need it to.

I certainly wouldn't change back to SAGE or Quickbooks.

WS.

Thanks (1)

@wilcoskip

wilcoskip wrote:

I certainly wouldn't change back to SAGE or Quickbooks.

WS.

... totally agree, it knocks spots off both of them put together!

Thanks (1)

I have a few clients using it ...

and I like it a lot. Some of it is a little odd but the data entry is the best I have seen ... and the clients love it which is the most important thing.

Thanks (1)

Many thanks all for your time and comments

Thanks (0)

Apart from how well it works and how much it costs . . . .

.  .  .  . have you considered the data protection aspect?

Dr Simon Rice, technology policy advisor in the Information Commissioner’s Office, said last September: “The law on outsourcing data is very clear. As a business, you are responsible for keeping your [personal] data safe. You can outsource some of the processing of that data, as happens with cloud computing, but how that data is used and protected remains your responsibility.”

This statutory responsibility rests on the data controller – i.e. the client who owns the data and (in many cases) the practice which provides accountancy services and/or arranges the cloud service with the provider.

The Data Protection Act recognises that the data controller’s position needs to be protected so it imposes specific requirements about what must go into the contract with a cloud service provider, as well as data security obligations to protect the individuals to whom the data relates.  It also restricts the transfer of data to countries outside the EU, so organisations can’t escape their legal responsibilities by shipping our data off to a country where data processing is poorly regulated. 

If personal data is kept within the EU plus Norway and other specified/approved countries, that’s legally OK provided you check the data security arrangements and comply with the Data Protection Act.  See the seventh and eighth data protection principles (as defined in Schedule 1 Parts I and II). 

NB  I would advise getting expert advice if data is transferred outside the 'approved' borders, especially if the US 'Safe Harbor' framework is supposedly applicable.  (The USA is not one of the approved countries.)  If you want to stay on the right side of the law, the devil’s in the small print!

I hope this helps.

 

 

Thanks (1)

Don't forget Xero add-ons

Hi,

One thing that hasn't been mentioned already is the fact that Xero has a wide ranging add-on store that users can access too.

These are supplementary services that Xero allows developers like ourselves to build onto the Xero "eco-system", so users can choose which ones they think will add value. Some big name examples are things like PayPal but there are a whole range of add-ons that can be used. For example, our latest add-on LedgerLive lets you see credit scores for all your customers.

Xero are leading the market in this area so it's worth noting for accountants or businesses weighing up the advantages of this accounting solution.

 

Thanks (0)

Alternative Accounts Preparation Software

An alternative to downloading data from banks or bank feeds is AutoRec. We support all the major banks in the UK & Ireland paper, online and credit card statements. AutoRec is our software solution for accountancy practitioners that reduces the time taken to perform bank reconciliations by up to 90%. The software has been subscribed to by over 300 accountancy practices within a year of release.  AutoRec will allow you to scan paper bank statements using a standard office scanner and have the transactional data presented in a spreadsheet form.

You can export data to bookkeeping and software packages including Xero, Sage, IRIS, VT, Digita and many more. In terms of the reporting, AutoRec allows you to export the data to Excel, XML and CSV. It will provide reports for totalling information by nominal code, VAT, Catorgory, date,etc. You can also complete full payments and receipt analysis within the software.

You also do not have to worry about any data protection issues as there is no client information passed over to a third party.

If you want to have a look at a FREE online demo click here

Thanks (0)