Switching from doing accounts using Excel to accounting software

[PTDevon]

Hi, posting using my husbands account. I currently do the financial admin and monthly vat returns for our company using excel worksheets. Our financial year starts in October and I would like to move to an accounting system, with a view to getting some admin help. I have signed up to a trial with xero. I already have an accountant who does our annual accounts based on the excel spreadsheets that I supply to him. I have experience of working in accounts departments, but I am not an accountant by any stretch!

How should I go about setting up xero and starting to use it? Is it feasible to get help with financial admin for such a small operation (only myself and my husband are employees although we do use a lot of contractors)? I feel like at this stage in our businesses operation it should be straight forward to move to an accounting system, but it also feels a bit overwhelming to start, any advice would be appreciated. Thanks

 

[Scalloway]

What I would do is create a trial balance at the end of the previous year and use that as a basis to start with. Xero have help online.

https://www.xero.com/uk/training/small-business/setting-up/setting-up-xero-step-by-step-uk/

 

[Alan]

You might want to look at some of the other accounting systems too, maybe speak to your accountant, although I think Xero is favoured by many accountants my feeling is it isn't quite as novice friendly as others such as Quickbook or Kashflow.

When I moved from spreasdsheets to accounting system, above is exactly what I did, i.e. got the trial balance from the last year end from my accountant for opening balances, and then just input the transactions to get me up to date.

The basic 'project' is fairly simple
1. get the company setting set up correctly in the system, such as accounting dates and VAt scheme (flat or not ) and VAT periods, etc
2. Tweak the chart of account as needed, e.g. to match as best you can the chart of accounts your accountant is used to for your trail balance
3. Customise your invoices and other documents like quotes as required
4. Load up opening balances from your trial balance
5. Link your bank accounts / paypal accounts etc as required
6. Start using it

 

[SteveHa]

Your accountant may already be familiar with and/or be able to use your accounts package data directly. You would be well advised to speak to them first. If it speeds up the accounts process it may even result in a reduction in fees.

 

[MyAccountantOnline]

Hi, posting using my husbands account. I currently do the financial admin and monthly vat returns for our company using excel worksheets. Our financial year starts in October and I would like to move to an accounting system, with a view to getting some admin help. I have signed up to a trial with xero. I already have an accountant who does our annual accounts based on the excel spreadsheets that I supply to him. I have experience of working in accounts departments, but I am not an accountant by any stretch!

How should I go about setting up xero and starting to use it? Is it feasible to get help with financial admin for such a small operation (only myself and my husband are employees although we do use a lot of contractors)? I feel like at this stage in our businesses operation it should be straight forward to move to an accounting system, but it also feels a bit overwhelming to start, any advice would be appreciated. Thanks

Can I ask why Xero?

You have lots of choice.

I really like Accounts Portal I think it's a great system (I don't sell it or earn anything from it by the way - just a satisfied user) I've recommended it to a lot of my firms clients and helped them set it up and use it. We have a special portal from which we can access clients records direct which is really useful to help with any issues, and enables us to download everything we need without troubling our clients.

Does your accountant work with or recommend any systems?

 

[Paul Kelly ICHYB]

Clearbooks has a basic level (Micro) that is spreadsheet based and might be worth looking at.