The adverts would have you believe that all you have to do is press a button and your software will do it all for you - reconcile your bank, produce your VAT return and submit your tax return. If only it were that easy!!
It doesn't matter whether you are using Xero, Quickbooks, Sage or something else - nothing is ever that easy and a little knowledge can be dangerous.
Some people just "get" how to do something and that's great if that's you, but some never do. Accounts is one of those tasks in your business which can be straightforward but can also be very complex. Or it becomes more complex the more of a mess it gets in.
As bookkeepers we work on business accounts all day everyday. It is what we are good at. We deal with the complex as well as the simple. We make sure VAT is claimed correctly, that banks are fully reconciled and that the accounts make sense. Accounts are no good to you if they are inaccurate. Y
The businesses we work with have accountants who deal with the end of year accounts and advise them on tax savings and legislation - we don't because this is not our expertise.
Over the years we have worked with businesses whose Xero accounts have got in a mess. Either because they have tried to do it themselves or they have had someone who was not experienced or knowledgeable enough to do them properly. Sometimes we don't take on the accounts but sort out the mess and give specific Xero training so they can get it right going forward.
If your accounts have got into a mess you are just wasting your time adding to it. They need sorting out or starting again. It is time consuming and expensive to sort out a mess which goes back several years, even one year can take time. So it makes sense to get help before it becomes too much of a problem.
Take the adverts with a pinch of salt and, if you can't do your accounts, get a bookkeeper who is experienced and knowledgeable to do them for you. Not only will you have accurate accounts showing you exactly who you owe and who owes you, you will have peace of mind knowing that your VAT return and/or your year end accounts will not invite a inspection from HMRC or a big bill from your accountant.