Questions about Xero functionality
I use QuickBooks 2008 (local PC version) to run my small consultancy business and have found it to be more than capable of meeting our needs. But there is a lot of fuss about Xero (and web based accounting systems generally) in the press so I thought I would evaluate it by signing up for a trial [before Intuit figures out another way to get me to upgrade :) ].
I found Xero very easy to get into, setup and use but I have run into a few 'difficulties' and I wonder if any Accounting Web readers (or Xero!) might be able to tell me where I am going wrong? Many thanks in advance!
I would like a two-level Chart of Accounts so that some accounts are sub-accounts of others. Is this possible?
What is the purpose of the account numbers (e.g. 200 Sales). Why not just have Sales? The numbers do not appear to determine where the account 'sits' in the P&L.
I want to report all P&L transactions for a certain analysis code e.g. Salesman=Fred. I can see the mechanism to categorise transactions (tracking) but none of the transactional reports then allow you to select by tracking code.
If I must have account numbers then I want to be able to report on a range of accounts e.g. accounts 500 to 599. But none of the reports allows filtering / selection of data by a range of accounts. This is related to my question (above) as to the purpose of the account numbers.
Finally, the expense claim facility seems odd to me. My process is to journal the expenses into the relevant expense accounts with the balancing entry as the relevant director's Directors Loan account. We then periodically clear the Directors Loan accounts using a bank to D/L transaction. The expense processing in Xero appears to expect payment in cash to be the clearing mechanism which does not work well for directors who may have numerous entries in their D/L before the account is cleared.
Possibly I am missing the point somewhere, but unless I am missing the point, the functionality and particularly the reporting in Quickbooks (local PC software) seems to be ahead.
Any advice gratefully received.
Happy new Year everyone!
- Are you going to Tick and Bash on 21 May? 755 20
- Delayed option to tax 135 2
- Cloud backups – know what you are getting … 380 7
- Redundancy Pay 253 4
- question about merging two companies... 170 1
- Latest repayment email =interesting paragraph 395 3
- CG on Spanish property disposal 209 7
- Entertaining - am I missing something or is my client taking the mickey 348 5
- Are any of you members of The Institute of Financial Accountants - Accountnats certificate 72 1
- VAT charged on non-VAT Invoice 263 6
- VAT on services to EC customer 125 2
- Cost of demolition of a shed - revenue or capital? 456 11
- Do I need to see receipts ? 552 8
- Share disclosure re- Power of Attorney 66 1
- Stand alone practice management software 1,219 20
- Submit P11D for 2014 2015 with no Paye Scheme in place 187 3
- Summarise excel cashbook by month 255 5
- SA1 forms 304 11
- Are accountants facing a doomsday scenario? 1,054 25
- ACCOUNTING FOR VAT ON EU DISPATCHES AND EXPORTS 150 2
- Sainsbury's mangement 806
- Avanti Accounts 670
- Have I done the right thing? 631
- Continuity Agreement 624
- Calling franchise accountants 624
- Consolidated accounting software (or cloud based) 480
- Sage One Reports - do they add up? 355
- Scammers 312
- Advice please! 220
- Becoming a subcontractor to Accountancy Practices 198