At B2B Accountancy we have experience of maintaining clients records by using various desktop and cloud accounting applications. One of our trusted partners is Xero, here are some of the benefits of their software.
Pay Bills
With Xero, you can store all bills in one place and review them from any device, allowing you to review and make payments regardless of where you are. The purchase overview feature allows you to see the due dates for all bills, enables you to schedule payments or make payments right away and you can see when and how much has been paid against invoices. Being able to attach copies of invoices to your bills means that you can go back to check the invoice for additional information at any time without needing to seek out the paper invoice.
VAT Returns
Xero makes it easy to submit VAT Returns in line with MTD requirements as it automatically calculates your VAT liability for you. This means that all you need to do is ensure all the correct information has been entered into the system, review your VAT liability and submit your return. When required, you can also review the transactions which make up your VAT liability and ensure the VAT has been claimed correctly from all invoices in line with your chosen VAT scheme.
Claim Expenses
For companies where staff often travel or spend money on behalf of the entity, Xero makes it easy to review, monitor and reimburse expenses. With the touch of a button, employees can track mileage and take photos of their receipts on the go and upload to Xero, making it easy to review, approve and reimburse them timely.
Bank Connections
Connect your bank to Xero and set up bank feeds. Transactions flow straight into Xero each business day.
Accept Payments
Accept payments online and get paid up to twice as fast by connecting to Stripe, GoCardless and others.
Track Projects
Quote, invoice and get paid for jobs. Plus keep track of costs and profitability with project and job tracker software.
Payroll
Pay employees with HMRC-recognised online payroll software. Automate tax, pay and pension calculations.
Bank reconciliation
Keep your financials up to date. Categorise and reconcile bank account transactions each day using suggested matches.
Manage Xero contacts
Use Xero for contact management. See details of a customer’s or supplier’s sales, invoices and payments in one place.
Raise sales invoices
Budgeting and Forecasting
