We believe Xero is, first and foremost, a tool for the business owner. It should provide a quick and easy way for you to have oversight and control over your business figures. Bookkeeping in Xero should therefore be accurate and maintained in real time.
Keeping your records up to date not only helps spot any areas of concern or problems early on but also highlights where your business is performing well. This timely insight allows us to be proactive in several ways:
- Carrying out company and personal tax planning well in advance, helping you operate in the most tax-efficient manner.
- Assisting you to interpret the numbers, assess profitability and key performance indicators, and provide relevant business advice in real time.
- Recommending practical improvements to help your accounts run more smoothly and efficiently.
As part of the bookkeeping in Xero, we require support to be attached to the transactions – this ensures:
- If HMRC ever opens an enquiry, the relevant documentation is readily accessible.
- For VAT claims, the required invoices and receipts are on hand to justify the claim.
- Anyone reviewing transactions in Xero – whether it’s us, your staff, or another advisor can easily find the information without chasing others.
We also ask that sufficient information is provided upfront to allow the bookkeeper to allocate each transaction correctly the first time. The bookkeeper is then responsible for adding clear, descriptive notes in Xero so that anyone reviewing the transaction can quickly understand what it was for.