Specialist Xero Accountants
CloudBook are not just any Xero Accountants. We absolutely love Xero Accounting! We know most of the Online Accounting software very well and we’ve chosen to be Xero Accountants by using Xero Accounting for ourselves. It does everything a small business needs. Plus, it’s so easy to use, it will be a pleasure to keep your accounts up to date using Xero. It costs a little more than other online accounting software. However, we’re certain you will save enough time to make the extra cost worthwhile. What they say is true – it’s beautiful accounting software!
If you’re looking for specialist online Xero Accountants that help you get the most out of the Xero Accounting software, look no further! We’ll help you move to Xero Accounting and get started with it for free. Then, with our Annual+ package upwards, you’ll get quarterly reviews and advice throughout the year. We do this by logging into your Xero accounts from anywhere using special user rights. If you prefer we can do all of your bookkeeping on Xero on our Monthly package. Then you can log in from anywhere at any time to view your Xero Accounts. All of our packages have low monthly and fixed accountancy fees.
15% Xero Accountants Discount
We believe that Xero Accounting is the best online accounting solution for small businesses, which is why we chose to be Xero Accountants. But to get the most out of it, you need to use specialist Xero Accountants like CloudBook. As experienced Xero Accountants, we can set up Xero Accounting to suit your business. Then we can help you use it to get the most out of your accounts. Not only that, we can get you special Xero Accountants 15% discount off of the Xero Accounting fees.*
Xero Accountants Review
We’ve written a Xero Accountants review to help you decide whether it is the right online accounting software for you. Read our full Xero Accountants Review here: Xero Accountants Review, or see the individual sections below.
xero reviewOur Xero review is based on us using it for ourselves and many of our clients for several years almost every day. We work with any online accounting software that our clients choose, so we’re not affiliated or biased towards any, so our Xero review is completely objective.
We think Xero Accounting lives up to its tagline – beautiful accounting software. Everything is clearly laid out, it runs smoothly, and it’s easy to use. Xero have made it as pleasurable as it can get to log in every day to update your accounts. The easier this is, the more likely you are to do it and not get behind with things which would make it more of a chore. Read through our Xero review to find out why what exactly makes it so good, and also a few things that aren’t so good.
Xero offer free trials and introductory offers. Our clients can also get a 15% discount off of the Xero fees.
Xero offer a Starter package at a very competitive £9pcm which gives you full use of everything except multi-currency and payroll, but restricts you to 5 invoices, 5 bills and 20 bank transactions. Ideal for contractors.xero review sign up
Next up is their Standard package at a slightly pricey £20pcm (£17pcm after our discount), but you’d need to compare the added cost to the extra time you’d save using Xero. The Standard package removes the restrictions on the Starter package.
Finally, the Premium package is £25pcm, but only seems to offer multi-currency as an extra. This is disappointing considering other software like the free Wave accounting (which we also work with a lot) has multi-currency as standard.
Payroll can be added on at £5pcm for up to a certain number of employees then £1 per extra employee.
Where other software launches you straight in, Xero reviews your signup details then takes you step by step through the settings tailored for you, so that you don’t miss anything. This is a great feature and a lot of our clients have done this perfectly well without any of our help.
Unfortunately, at the time of this Xero review, it doesn’t offer a choice of tailored sets or charts of accounts. These differ quite a lot depending on whether you are a company, partnership or sole trader. So a few self-starters may end up with a few accounts missing and a few that are not relevant. However, a chart of accounts can be imported, and that’s what we do when setting up our clients on Xero for free. This makes sure the relevant accounts are available such as dividends instead of drawings for companies.
Recording bank transactions on Xero is easy and almost a pleasure! You can link Xero to almost any bank account to create a bank feed. This is done either via a third party service called Yodlee, or directly with your bank. Once linked, your bank transactions can be imported with just a click of the refresh button. Then you just need to click on Reconcile in Xero review and ‘reconcile’ each transaction by either matching it to an invoice or creating a new income, expense or transfer.
We love the way each transaction is boxed rather than in a line. On the left is what was imported from the bank, and on the right is another box for how you want to record that transaction. Xero reviews the details of the transaction and suggests what to do with it. If you’re happy with how the transaction will be recorded, click OK in the middle and the two boxes sweep away and the next two move up. As smooth and as beautiful as it can get!
xero review bank
As well as importing your bank transactions, you can also save time reconciling your transactions. As mentioned, Xero reviews the details and remembers what you did with the same or similar transaction last time, and suggests the same treatment. Also, you can set up rules which identify characteristics of a transaction then treats it however you set up the rule. Ultimately, with enough rules you end up just clicking OK against every transaction because Xero knows exactly what to do with each one. So you’ve updated the accounts potentially without typing a single letter or number – a pleasure!
If you have a lot of transactions to reconcile, Xero does have a ‘cash coding’ method. This gives you a more traditional list of transactions which can be reordered by description to make it easier to bulk-reconcile similar transactions.
In theory, the traditional bank reconciliation is a thing of the past with Xero. Only the bank transactions are entered against into bank account via the free bank feed, so there should be no difference. You get a nice big green tick to confirm that you’ve reconciled all transactions and the balance on Xero agrees to the bank balance. A minor problem with this is if you use a sales collection service linked to your sales invoices. If your customer follows the link to pay your sales invoice via GoCardless for example, this shows as a bank receipt at that point even though it may take a week to reach your bank account. So you have a bank difference for that week.
In summary, the bank section in Xero makes it easier to update your accounts little and often. So if you’re like us, you end up doing it every day for a few minutes rather than every month for a couple of hours.
There’s very little to fault with the whole sales side of things on Xero. It’s very flexible, easy to use, and can be automated in various ways to save time.xero review sales
Starting with Quotes, you can set up template quotes as draft then copy the draft quote each time you need to use that template. You can also set up template emails to use to send out the quote to potential customers. So it takes just a couple of minutes to enter details of a new contact, then click a few buttons to email them a quote. That quote can then be converted into a sales invoice to save you entering the details again.
Sales invoices can be emailed or printed in batches. They can be set to repeat and emailed automatically. Reminders can be set up to automatically chase unpaid invoices. There is also a Xero to Xero facility, so that a sales invoice raised in one Xero automatically appears as a bill in the other Xero. You can also send out statements to all of your customers in one go. This can’t be automated but there are free add-ons such as Satago that can automatically send statements every month.
Purchase billing is quite similar to sales invoicing and works just as well.
You can set up as many stock or service lines as you need, then allocate a cost price, sales price and quantity. Xero reviews all sales and purchases for the stock item then updates the quantity for you.
Xero has a good expense claim feature which allows you or your employees to update a claim each time an expense is incurred, then submit it for approval, and then have it paid.
Once you’ve set up your fixed asset categories, everytime a bill or expense is reconciled to a fixed asset account, Xero reviews the account and reminds you to set it up in fixed assets. Then you just have to click ‘Run Depreciation’ then Xero calculates the depreciation for you and puts it in the correct place.
Again, there is a fair amount of setting up to do here, but once you’ve done that the routine payroll admin is quick and easy. If nothing has changed, it takes two clicks to run and post a payrun. Then another two clicks to email a payslip to each employee.
The Xero Reviews and Reports on your accounts are the best we’ve seen. They can be tailored to your specific requirements for the layout, period and detail. Then they can be published and stored on Xero for future reference.
Calculating and submitting your VAT returns on Xero also couldn’t be easier. Xero reviews your settings for whether you are cash or accrual based, standard or flat rate, monthly quarterly or annually, then adjusts the VAT report accordingly. Also, Xero reviews the previously submitted period for any changes and brings those amendments into the current period. Then you just have to enter your HMRC ID and password to submit the VAT return to HMRC without leaving Xero, unlike most other software packages.
Xero is so easy to use, and packs in so many features and options, that we simply have to recommend it to all of our clients. Otherwise we wouldn’t be doing our job. It comes at a cost, but unless you have lots of spare time and don’t need to save any, it will be worth it. Take a look for yourself by signing up for a free trial from the Xero Accounting website.
Xero Accountants Videos
Once you’ve decided whether Xero Accounting is the best online accounting software for your small business, we have a page of Xero Accountants Videos to help you get started. Here’s an introduction video for now…
Xero Accountants Guides
As certified Xero Accountants, we can also share these useful articles written by Xero for Xero Accountants:
How much should you pay yourself
Invoice payment tips
Mac Accounting Software
Move from Excel to Xero Accounting Software
When you should hire a Xero Accountant
Why Cloud Accounting is good for business
How we can help you with Xero Accounting
We are Xero Accounting specialists, using all of its features every day. So we help our clients use it throughout the year by securely logging into your account from where we are. Also, if we subscribe to Xero for you as your accountant, we can get you 15% off of the Xero fees. By using Xero Accounting (or any online accounting), you will also benefit from our low monthly fixed fees. We have a range of online accounting services which can be tailored to your specific needs.
* The 15% Xero discount applies from when your Xero subscription is transferred to CloudBook Accountants. We then add the discounted Xero fees to our monthly fees.
Fees exclude VAT