Xero is a fully-featured on-line accounting system, giving businesses instant access to their accounts information from any device. Invoices can be created and immediately emailed to your client along with on-line payments options if required. Stock can be easily managed and tracked and added to invoices and orders. Bank connections mean that transactions flow into your accounts from the bank every day and reconciliations become a simple task. You can record, manage and reclaim expenses and receipts on-line. Use Projects to track the time and money you are spending on specific jobs to help you become more profitable.
Xero has a host of other features to make your life easier including easily tailored financial reports and budgetting, integration with on-line payment services such as PayPal and Stripe. If you do business outside of the UK, multi-currency accounting will be invaluable. And of course, for VAT registered businesses, Xero is fully compatible with the HMRC Making Tax Digital (for VAT).
There are currently three levels of Xero Accounting - Starter, Standard and Premium. All of these are available with optional extras including Projects, Expenses and Payroll (see below).
Use Xero Payroll to manage staff the easy way. Xero Payroll includes flexible pay calendars, multiple pay rates, built-in timesheets, leave management and statutory pay calculations. The Xero Me mobile app means that employees can easily view their payslips, submit timesheets and also request annual leave.
The Workplace Pension burden is relieved by Xero Payroll, auto-enrolment, assessments, communications and contributions are all handled and pensions filing is easy. Send information to NEST in a couple of clicks and easily create files for any other provider.
HMRC submissions are sent directly from Xero and your accounts are automatically updated too! You can also pay your employees electronically direct from Xero.