Member Since: 14th Jan 2013
27th Feb 2019
We use Xero and Nest and it is working perfectly. What we have found is that the set up is crucial and you have to be prepared to spend the time and effort doing this.
We had some issues but they were due to our lack of knowledge and the learning curve.
Xero support was excellent.
We were unsure about Xero payroll at first. Now we are pleased we put the effort into it. It's running perfectly and we no longer have to process payroll journals each week / month.
We also found Xero can be more accurate than human input. We took over a payroll part way through the year. Pensions didn't look right in Xero. They didn't compare properly to the figures handed over to us. We went back to manual calculations and found that the computer system was doing it accurately and that the figures we had inherited were being processed incorrectly.
2nd Nov 2017
With the software I use the accounts and tax are all linked together. I cannot just produce a stand alone tax return.
19th Jul 2017
Thanks for the feedback.
I had a look at VT but it all looks desk based and I'm trying to move into the cloud so I can work from anywhere. Also its a lot of spreadsheets from what I can see which I am not that keen on.
Taxfiler looks ok and basic for the submissions to Companies House but it is not detailed enough for me to be giving to a client. I need something more detailed with full sets of notes.
I have seen gbooks which looks promising as its in the cloud and seems quite easy to get to grips with. I'd be interested to hear opinions on this and any other cloud based software.
I think IRIS will be far too advanced for what I need.
12th Nov 2016
It was a very high end residential property bought to be developed and sold but then the market crashed. That was the original intention but when it wouldn't sell it had to be rented out for a while...over a year or so. After the rental it stood empty for a few years. The property was owned for around 5 yrs before it was eventually sold. It was held personally. All the other property held personally is investment property. Do you think it should be treated as trading instead? The individual has two companies.....one which is investment and we would like to transfer a residential property to this company. The other company is a development company but will be closed down as all development and property building activities have now ceased.
17th Jan 2016
Thanks for the mention of Zero books.....I hadn't thought about using an outsourcing company. I might look for one in the UK .
Also the comments ....been there and done that.....errrmmm.......I've only put a tentative foot into the water but what you say is what concerns me.......time taken double checking work.
Still there must be a way so I will keep thinking around it as I don't want to be sat at my desk five days a week from now until retirement.....I want to be able to delegate and spend my time getting the work in....so somehow I am going to have to take the first step.
Thanks for the advice its food for thought.
16th Jan 2016
They have already agreed on my permission to practice. I am just waiting the re-admission committee meeting to finalise everything....but thank you that thought had crossed my mind.
28th Sep 2015
Thanks i think that answers my q
If i have ICAEW membership i dont need MLR
I am ok on being upto date as I have been in a specific sector for twenty five years doing tax and accounts just not in a practice and now I have gone self employed I am only working with businesses I know within that sector.
I wont be going anywhere out of my comfort zone into other areas.....what I am doing is very specialised but I prefer to have the comfort of the professional body and insurance and certificate etc behind me
Thanks for the info
27th Sep 2015
Errmmm I know it is HMRC now......I just get used to the old term thats all....must be my age . I really wanted an answer to my query ...thats all.....it would have been a lot more helpful than the comment made instead. I am well aware of all the CPD thank you....but that's not what I was asking for. Oh well.
11th Sep 2015
No I didn't take the work from the other accountant...the client was doing this themselves on a spreadsheet and the accountant was simply doing the year end accounts from this. I was asked to do some bookkeeping and recommended Xero...thats all.
I take on board what you are saying with the long term view.
I didn't charge for the set up work which was quite time consuming on xero...on the basis I would be doing the ongoing bookkeeping work but this looks unlikely now that the existing accountant has said he can do this.....which is why I wonder where I stand with regards to this.