Everything you wanted to know about Xero Bookkeeping but were afraid to ask

June 09, 2022 by Christine Frith
Everything you wanted to know about Xero Bookkeeping but were afraid to ask

Bookkeeping is a critical business task. A good bookkeeper delivers a clear picture of how a business is performing and where there are opportunities to grow and be more efficient. 

We’ve been offering Xero bookkeeping services for many years so understand how it works and the many benefits that it brings. Many of our clients are keen to learn about how it streamlines often time-consuming tasks. Here are just a few of the most frequently asked questions about outsourced bookkeeping and Xero bookkeeping.

What is Xero?

Xero is a cloud-based accounting software that you can use to:

  • Pay bills
  • Complete VAT returns
  • Claim expenses
  • Connect to your bank accounts
  • Track your finances with accurate reports

However, it does so much more – far too much to list here! As well as the accounting system, Xero integrates with other Apps: all powerful pieces of software that together, create a very powerful and efficient set of business systems.

When is the best time to set up Xero?

You can set up and start using Xero at any time.

We often recommend starting at the beginning of the financial year (April) or at the start of your business accounting year, however, as all VAT-registered businesses need to be prepared for Making Tax Digital (MTD), now is a great time to start using Xero.

What investment is needed to transition to Xero?

As experienced Xero bookkeepers, we are pleased to be able to offer very reasonable set up packages that start at just £500 + VAT, depending on the number of transactions your business makes.

Of course, you can set up Xero yourself, however, we are often called in to support businesses who have tried this. It is certainly more time-beneficial and cost effective if we run the set up for you.

What does a Xero bookkeeper include in their Xero set up cost?

We want you to be happy and comfortable using Xero – and be aware of all the opportunities that come with the software. Because of this, we always offer basic training alongside account set up  and connecting your system to HMRC. The cost also includes your initial Xero subscription fee.

Can all businesses, big and small, use Xero? 

Xero may be used by any size and type of business. Associated costs are the only differentiating feature as these are based on the number of transactions your business makes and receives.  

I’m not in Hertfordshire so how can I use you as my Xero bookkeeper? 

As we work remotely, location is not an issue, and interestingly, we already work with businesses based all around the country.

As we’re Xero experts we are proud to say:

  • No job is too big or complex. We currently manage the bookkeeping for an eCommerce business with 20 different sale channels including Shopify, Wholesale, Uber Eats and Amazon.
  • We’re genuine bookkeeping experts who can give you some real insights into your business that will help you grow.
  • We can deal with messy situations and get them sorted! If your bookkeeping has gone awry or you haven’t got around to sorting those expenses for a month or six, then we are happy to help.

If you still need convincing that Xero really will help your business, then give us a call – we’re happy to chat things over  – and of course, tell you all about the benefits of Hour Hands working as your remote bookkeeper!

Hour Hands is a Xero Accredited Bookkeeper – meaning we are recognised as a Xero expert