We are a Xero Gold Partner because Xero is the only cloud based software we use for our clients and we have lots of clients using Xero.  There are others, of course, but we like Xero and we know it pretty well because all our bookkeepers use it all day, every day.

Businesses approach us for training on Xero so they can understand how to use it better for their business.  Whilst the fundamentals of keeping accounts are the same, every business needs their accounts to work for them in a different way.

The first thing we would look at when training for a business being set up in Xero is to make sure the Chart of Accounts has relevant codes for the business - that may be different sales codes for different sales streams and different purchase codes for different types of purchase which relate specifically to the sales.  Overheads, assets and liabilities are generally the same for most businesses so we leave the remaining default accounts in Xero as they are, adding in any additional ones needed or changing the names of others.  Most importantly we would make sure that the account codes report appropriately to the management reports.  The management reports are the key to knowing how your business is doing so it is important that every figure is pulled into the correct report, otherwise your reports won't make any sense.

One of the things we see quite frequently are bills being added to Xero but the payment, when made, not being added to the bill but being recorded separately.  This creates a duplicate cost in the accounts and, if VAT registered, a duplicate VAT claim.  You should decide whether you are going to do Cash Accounting for your Business which would mean you record all the bank payments and receipts into your accounts, or whether you will do Accrual Accounting where you add bills and then pay them off later, and add sales invoices to your customer.  We will always work out which is the best for the business and/or which is the simplest option for them when we are doing training.

Sometimes a business will need a "dummy" bank account to handle income or payments such as till takings, petty cash or business expenses which have been paid personally.  Managing till takings is often challenging for someone new to accounts as often not all the takings is deposited in the bank.  Some may be used to pay staff or for some purchases.  So we train how to manage this type of account.

Our Xero training is bespoke to each business.  We have businesses who are just starting out and setting up Xero from scratch, where others have been using it for a while but have got in a mess they can't find their way out of.  We can help with most things but the longer you leave it before getting help the harder it will be and the longer it will take to sort out.

So if you are looking for some Xero training, whether you are swapping to Xero from another software, have never used any software before, or have just got in a muddle, we can help you.  Give us a call to see how we can help.