Xero Launch Xero Go...

Like most in the accounting industry, some of the MJB Avanti team are currently at Xerocon, we were excited to hear Xero announce the launch of Xero Go for sole traders during day one.

Xero say that the app, currently available for download in the UK to iOS users, will streamline manual accounting processes, empowering them while complying with Making Tax Digital for Self Assessment.

What does this mean for your accountant?

With the introduction of MTD for self assessment, reporting requirements are increasing, adding to the burden of compliance for sole traders. Xero Go allows sole traders to fully digitise their record keeping, reducing the need for manual data entry and negating the queries caused by missing data...giving your accountant more time to focus on advising you rather than chasing those pesky missing line items.

Xero details the key features of the Xero Go app:

Expenses:?Sole traders can?record expenses anywhere, any time, using the Quickscan feature, powered by machine learning. Quickscan extracts expense information from receipts, imports them into Xero Go and auto-suggests tax categories to save you time when tax coding

Invoices:?Users can create, send and track customised invoices on the go. They can set up auto-reminders for late payments, and even add a Stripe ‘pay now’ button to get paid faster using Apple or Google Pay

Dashboard:?Sole traders can keep a finger on the pulse of their finances in one place. See unpaid or overdue invoices, track who has and hasn’t paid, view profit and loss by month, and gain insights such as top expenses for the month

Combining Xero and MJB Avanti is a powerful business solution

We’re a Xero Platinum Partner, so perfectly placed to train you to manage your own day-to-day bookkeeping, run your Xero account for you – or a hybrid of the two.

While we offer many software solutions to aid companies with accounting, Xero is the most complete and flexible.

You can complete all your inputs and outputs for bookkeeping, send invoices, record and pay expenses, and manage your VAT obligations automatically.

Reports can be as top-level or detailed as you wish, helping you keep on top of profit and loss accounts, cash flow and credit control.

And the cloud-based system is flexible, letting you integrate apps such as the payroll feature to further power and inform your business.

Get in touch with MJB Avanti to discuss Xero and how we can help you to achieve your financial goals.

Find out more about MJB Avanti and Xero https://mjb.co.uk/our-services/advisory-services/xero-accounts/

www.mjb.co.uk | 08000 388799 | [email protected]

Source: Xero