Why we use Xero
- Bank feeds: transactions flow in from your business bank account every day, so nothing has to be typed in.
- Receipts from your phone: snap a receipt when you pay and it is attached to the right transaction.
- Making Tax Digital: VAT returns are filed straight from Xero, which is recognised by HMRC for Making Tax Digital.
- Live figures: you and we see the same numbers at the same time, so questions get answered quickly.
What we do each month
- Reconcile your bank feeds and check every transaction is in the right place.
- Match receipts and bills, and chase anything missing before it becomes a problem.
- Prepare and file your VAT returns, if you are VAT-registered.
- Run payroll, including your own director's salary, and the monthly submissions to HMRC.
- Keep your director's loan account and dividend records straight, so the year-end holds no surprises.
- Send you a short monthly summary of profit, cash and what is due next, depending on your plan.
Moving to Xero
If you keep your books in spreadsheets or other software, we set Xero up for you: a chart of accounts that suits a limited company, bank feeds connected, opening balances brought across from your last accounts, and a short session showing you the few things you need to do yourself, which is mostly photographing receipts.
Making Tax Digital for VAT
Every VAT-registered business must keep its VAT records digitally and file its VAT returns through software that works with HMRC's systems. Xero does that, so once your books are in it, your VAT returns are filed directly, with no spreadsheets or copying figures across.
The Xero subscription
Xero is paid for by subscription, with plans at different levels. We will recommend the plan that fits your company, so you are not paying for features you do not need.
Common questions
Do I need to use Xero to work with SJE Capital?
We run our clients' books in Xero because it saves time and keeps figures accurate. If you use something else, we move you onto Xero as part of taking you on.
Is Xero compatible with Making Tax Digital?
Yes. Xero is recognised by HMRC for Making Tax Digital for VAT, so VAT returns are filed directly from your books.
What do I still need to do myself?
Very little: photograph receipts when you spend money, and answer the occasional question about a transaction. We handle the reconciliation, VAT, payroll and year-end.
Can I still see my own figures?
Yes, at any time. Xero shows your bank balance, what you are owed, what you owe and your profit so far, and we see the same live figures.
Can you move my old records into Xero?
Yes. We bring across your opening balances from your last accounts and connect your bank feeds, so Xero picks up from where your previous records left off.