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Iris - Xero - MTD collaboration

Didn't find your answer?

Just saw this: http://www.iris.co.uk/insight/news/2017/IRIS-and-Xero-join-forces-to-str...

Does anyone have any extra information abou thow this will work? Is Xero going to be able to do direct MTD updates? I assume so or everyone without an accountant is going to have to get one?!

When thinking about practice workflow does anyone have an opinion on how this will work? Submit MTD updates from Xero? Sync data with Iris and do it from there? Either I am missing something or this is still clear as mud!

And for existing sole trade clients who just give us a pile of paper at the end of the year (luckily we have very few) has anyone decided on the lightest touch way of converting them? Xero is something like £240 a year if you want clients to do some of the data entry. Kashflow is cheaper. 

And before you accuse me of not being ready, 90% of our clients are Limited Companies so we still have plenty of time..........!!

 

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By Cloudcounter
07th Jun 2017 12:44

Speculating how things will work is pointless because HMRC haven't told us yet. I'm sure that the software suppliers will provide instructions when the software is actually released.

On pricing, there are versions of Xero available to Xero partners from £5 per month for a simple cashbook to £9 for a VAT cashbook. There's also a very simple version which is £2 but that's basically for in house use by the practice

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By roblpm
07th Jun 2017 13:39

Cloudcounter wrote:

Speculating how things will work is pointless because HMRC haven't told us yet. I'm sure that the software suppliers will provide instructions when the software is actually released.

On pricing, there are versions of Xero available to Xero partners from £5 per month for a simple cashbook to £9 for a VAT cashbook. There's also a very simple version which is £2 but that's basically for in house use by the practice

Aha true. Every couple of months I suddenly think everyone is getting on with this! But maybe not!

Good point about the cheaper versions of Xero. The only thing about the cheaper versions is that they don't allow the client to do invoicing.

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By marks
07th Jun 2017 23:58

We will be marketing to the small businesses to let us take care of the bookkeeping and we can provide software free of charge to do everything.

We will put them on the ledger package then use autoentry and get them to upload the sales invoices, purchase invoices and bank statements.

Most small businesses either dont raise invoices or use a template from word or excel or something free from the internet. Most of these types of businesses wouldnt have any need to invoice directly from Xero and can just operate as they always have.

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