Record Keeping in Xero

6 August 2018

At Ellacotts we help lots of clients with their bookkeeping and VAT return preparation. Recently, our Outsourcing team have been busy helping many of these clients convert their manual records into Xero record keeping. 

There are many benefits to the clients in doing this:

  • Automatic bank feed for entry of bank transactions – this saves time manually listing or posting entries
  • Automatic posting of invoices once scanned and uploaded
  • Bookkeeping records are already presented in trial balance format for year-end purposes saving on year-end analysis and summaries
  • Ready for the launch of HMRC's “Making Tax Digital

Xero has helped our clients in a number of ways:

One client’s complicated and unusual sales ledger has been simplified as the ledger balances are all now kept and reconciled on Xero without the need for various spreadsheet summaries, some dating back several years. 

Another client has been able to change how they send us their information after a supplier changed their invoicing process. They have gone from one invoice to post for costs a month to many invoices to post for costs a month because of the automatic posting feature. 

Other clients who are responsible for the day to day postings where we review the data quarterly for bookkeeping and VAT purposes, enjoy the fact that any queries can also be resolved as they arise with us being able to sign in and “see” the issues at hand to assist with solving things immediately.

If you would like to speak to someone about changing your manual record keeping to Xero, please contact Derek Boughton on dboughton@ellacotts.co.uk or 01295 250401.