What you need to know about Xero

Making Tax Digital for Income Tax will apply from April 2023 to all sole traders and partnerships with gross incomes over £10,000.

That means that those affected will need to keep records in digital format and for many businesses Xero will be the best option.

Why not join one of our group seminars, or one-to-one training sessions where we will cover:

  • What Making Tax Digital is and why we recommend Xero as the solution
  • Which Xero package is right for your business
  • An explanation of the Xero Dashboard, which gives you a daily snapshot of your business finances
  • How to raise sales invoices and set up repeating invoices
  • An explanation of tracking categories
  • The Chart of Accounts and how to add purchase bills
  • How to set up bank feeds and bank rules to automate entries and reduce processing time
  • How to reconcile bank entries by matching income and expenses to the bank statement
  • And an overview of available reports concentrating on Profit and Loss, debtors and creditors

From Xero to hero

Catch up on the latest functionality from Xero and learn some helpful tips and tricks to make your business more efficient. If you would like any further explanation, please ask your Xero accountant.

Next steps

UHY Ross Brooke have many years experience helping our clients to choose the most appropriate accounting software for their businesses. Get in touch today and we can help you too.

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