Xero accounting set-up and training

• A team of Certified Xero advisors
• Establish the optimal Xero subscription for your organisation
• Full set up of cloud-based Xero Accounting Software as well as any client specific Features and Xero Add-ons
• Conversion of data from another accounting software to Xero
• Training needs analysis to tailor training to client's needs
• Training client in set up and/or day-to-day bookkeeping on Xero

Regulation and Compliance Set up and Management

• Set up of Business Entity: Sole Trader; Partnership; Limited Company; Charity
• HMRC Registration for PAYE
• HMRC Registration for VAT
• HMRC Registration for Self-Assessment, Making Tax Digital
• Pension administration: Set-up; Declaration; Enrolment; Redeclaration and Re-enrolment
• Companies House Annual Confirmation Statement

Day-to-day book keeping

One, several or all of the below dependent on client requirements

• Processing sales invoices / daily takings/income streams and credit notes
• Matching and posting delivery notes to supplier invoices
• Processing supplier invoices and credit notes
• Processing expenses and petty cash
• Processing other bank receipts and payments
• Supporting the client in evidencing their transactions
• Bank reconciliation
• Assigning tracking categories to facilitate more detailed analysis of the accounts
• Assigning transactions to Projects to facilitate tracking of Projects
• Aged debtor chasing
• Aged creditor monitoring and payment – posting supplier statements to contact
• Posting of adjustments and journals
• Weekly, fortnightly, monthly Payroll
• HMRC PAYE Submissions and payments to Pension Providers
• Month End Close - maintaining a workbook for each financial year
• VAT return, audit trail, HMRC submissions and payments through the Making Tax Digital Agent portal
• Monthly or quarterly management reporting
• Preparation of annual accounts for accountant to review and file end of year accounts to Companies House and HMRC
• Preparation of annual accounts for Assessor to review and file end of year accounts to Companies House and the Charities Commission**
• Compile end of year accounts for partnerships and sole traders, submitting Self-assessment Returns through the Making Tax Digital Agent portal

Registration for and compliance with government schemes

• PAYE
• MLTPF (Money laundering, Terrorisim and Proliferation Financing)
• Research and Development
• VAT through the Making Tax Digital portal
• Workplace pensions
• Self-assessment Tax returns and Corporation Tax returns through the Making Tax Digital portal

Business planning

• Understand your business proposition
• Guidance in collating data and information to complete a business plan template to provide a funder or investor with the necessary insights on which to base a decision
• Preparation of the financial forecasts and budgets to support the written business plan
• Prepare a proposition email/letter for submission of the business plan

Sales

You provide us with the data for your sales by either:

• Creating quotes on Xero
• Creating sales data on a Xero add-on application for posting to Xero
• Posting a customer purchase order to Xero
• Instructing us by email to raise an invoice or repeating invoice
• You create an invoice on Xero

Purchases

• You forward emails with supplier invoice and/or receipt attachments to a Xero mailbox
• You scan your supplier invoices and/or receipts and send them to the Xero mailbox
• We feed these straight into Xero

Bank transactions

• We set up an automatic feed into Xero from your bank account so that transactions are automatically posted
• We match the transactions to sales, purchases and other nominal transactions
• We check that Xero reconciles to your bank statements to ensure integrity of data

Expenses and receipts

• You scan receipts for expenses on your phone and automatically send them through Xero Me expenses app or directly to the Xero mailbox for us to post and manage.

Projects

• We set up projects to meet your needs
• Transactions are allocated to Projects
• You can easily track your projects

We review all transactions, make adjustments, reconcile accounts and provide you with periodic reporting.

Reporting and Analytics

We optimise the use of Xero software’s tools to provide you with meaningful and timely reports, cash flow projections, and analytics to support your business decisions.

Business planning

Written business plan
We provide you with a template to work with and a set of guidelines. Often planning your own business is overwhelming so we offer one to one support to draw up a realistic plan.

Financials
We provide you with a financials template and tailor this to your written business plan.

Funding and investors
At the end of this process you are ready to present your business plan to your bank, potential funding stream or investor.

Operational plan
We help you translate your business plan into an operational plan translating objectives into clear prioritised tasks, allocated to responsible parties and to be met by deadlines.