From Bookkeeper To Trusted Advisor
At the heart of Xero is a full accrual accounting system which automates and simplifies your day-to-day bookkeeping. Your accountant will need to know what Xero can do, here's what to tell them.
• Double-entry general ledger
• Cash book
• Access to manual journals
• Annual and management reporting
• VAT calculations with full VAT audit reports
• Budget Variance
• Standard functions: Bank Reconciliations, Accounts Receivable, Accounts Payable & Expense Claims.
Collaborate with your trusted advisers
Designed to facilitate better collaboration between you and your advisers. With Xero your accountant can log in and view your accounts, providing valuable real-time advice.
Budget Variance
Xero lets you see your budget variance. This shows the budget you have prepared using Xero’s Budget Manager, and compares it to the actual spending recorded in Xero against each account.
Easy VAT returns
Your VAT is automatically calculated, using Invoice or Payments basis. Xero’s VAT Return looks like the HMRC form making it easier for you to complete your actual VAT 100 Return. A full VAT audit report is automatically compiled and stored for each VAT period.
Double-entry general ledger
Xero is a double-entry accounting system, which automates general ledger transactions.
Annual Reports
Your adviser can enter and view your organisations’ annual reporting. This includes an Accountant’s Statement, Director’s Statement, Notes to the Financial Statements and Minutes for AGM.
Management Reports
See a management overview that shows Cash, Profitability, Budget Variance and Balance Sheet items, as well as Aged Payables and Aged Receivables.
View all historical transactions
From the day you start entering transactions into Xero, every entry remains available for you or your advisers to view and report on.
Manual Journals
Create entries directly in your general ledger by posting manual journals. Enter amounts excluding VAT – this will be calculated for you based on the tax rate chosen for the journal line item being created.
Cash book
An easy to use cash book — Xero gives you a clear view of money coming in and money going out.