Xero accounts query

Xero accounts query

Didn't find your answer?

 Is anyone using Xero on a regular basis? Just using it to extract client balances for the first time and wondered if I can run a point in time aged debtor / creditor balances. So, I want to run a report as at the year end (now passed) to see both what the composition was at that date and to run the same report taking in to account what has been paid subsequently.

Thanks

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By Cloudcounter
08th Jul 2011 13:39

No Problem

You can run the report at a past date by changing the date in the drop down box.  I think that you can only select a month end date, but I don't see that as a problem.

I don't know any way to amend that report to show the year end balance minus items that have been paid subsequently.  However, you coudl run a report for three or four months after the year end and use the age columns to identify anything that was invoiced in the previous year.

I use Xero for my own accounts (since April 2010) and have a dozen clients on it, including a few in house jobs.

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By Steve Holloway
08th Jul 2011 15:41

Thanks ....

 mid-month year end (typical!) but I'm sure I can work around it.

Do you like it? Hasn't really warmed my cockles so far but I have no intention of using it beyond extracting what I need. It looks and feels more like a cheapy system such as Solar than a serious finance product but I understand it is quite easy to enter transactions in. Interesting to see whether people will prefer it to say VT. 

 

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By Cloudcounter
08th Jul 2011 16:47

Like it

Yes, I do like it,  I've used Sage and Quickbooks in the past for my own accounts, and wouldn't dream of going back.  We have a free copy for the practice as Xero partners, but heck, I'd even pay for it!   :-)

The bank import routine makes the reconciliation a doddle and saves shedloads of time.  I don't get live feeds, but we have a couple of clients who do and they tend to reconcile their bank every day!  Invoicing and repeat invoicing is also simple

Clients find the system easy to get around as well, and the fact that we can log in from the office makes sorting out queries much easier.  I find sorting out their queries helps me learn the system better, but the certification training that I did was a good grounding.  No substitute for using it though.

Sure there are things that could be added, but there are new updates quite regularly and there is an option to vote for what they work on next.

Edit to add that you can dump the data into Excel quite easily and with a bit of sorting should even be able to get a mid month sales ledger balance - on the dump you can specify your mid month dates as well. 

 

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