Xero - tips and tricks

[Jerry]

Does that work in xero? Does it apply VAT correctly too? I use Pandle not xero, I can't put in a negative value in a Pandle invoice or assign a line on a sales invoice to a costs category …

Only solution I have found for Pandle is to export the bank feed, and use excel to manual split all bank transactions that involve a self bill component into separate sales and cost transactions before I import them. I can then reconcile these against separate client and customer invoices. Its a bit of a faff and prone to human error though

yes. Very easy in Xero

 

[farmerm]

yes. Very easy in Xero

I have access to Xero though another business and having a little play I see you are correct... I will give the boys at Pandle another nudge that they need to catch up!

 

[pine_guy]

Have a problem where 10 days worth of bank feed have not imported from Barclays. Direct feed. Can you manually input them? Not really found much of use in the online stuff, seems to say you can reconcile it even if there isn’t a bank transaction to match it ?

logged with support, but response time is 20hours. ?‍

 

[upnortheast]

On the bank, save the transactions you want to import as a csv file (on your desktop so you can find it )
Then in zero you will find an import bank functions, find the file above, import & you should be sorted.

Not sure about this, but it may pay to cancel your auto bank feed , then reinstate it from a date after the ones you imported above. Saves the pain in the arse of getting duplicates

 

[Headless chicken]

How do you input an AHDB levy and the VAT of the back of this? I’ve not been claiming it and it does add up so worth claiming.

currently I don’t actually input the milk cheque as a bill only reconcile it when it comes in. I’m guessing I should put it in as a bill as a start.

 

[Will Blackburn]

How do you input an AHDB levy and the VAT of the back of this? I’ve not been claiming it and it does add up so worth claiming.

currently I don’t actually input the milk cheque as a bill only reconcile it when it comes in. I’m guessing I should put it in as a bill as a start.

Put it in as a negative line on the invoice.

 

[Headless chicken]

How do you input an AHDB levy and the VAT of the back of this? I’ve not been claiming it and it does add up so worth claiming.

currently I don’t actually input the milk cheque as a bill only reconcile it when it comes in. I’m guessing I should put it in as a bill as a start.

 

[Headless chicken]

Put it in as a negative line on the invoice.

brillint Thankyou

 

[Dairyfarmerswife]

brillint Thankyou

Same applies to abbatoir/market cheques with levy/transport deductions which attract VAT. No need for messy contras in Xero

 

[Frodo2]

Same applies to abbatoir/market cheques with levy/transport deductions which attract VAT. No need for messy contras in Xero

Was this always the case? My accountant gave me a convoluted set of instructions using a suspense account. The negative line on the invoice is really easy and seems to work.

 

[Dairyfarmerswife]

Was this always the case? My accountant gave me a convoluted set of instructions using a suspense account. The negative line on the invoice is really easy and seems to work.

I started off doing it via a suspense account because that's how we used to do it on sage. I think it was on here someone pointed out it wasn't necessary on Xero. Maybe sage couldn't handle a negative line on an invoice. It's definitely far easier in Xero.

 

[Jerry]

Was this always the case? My accountant gave me a convoluted set of instructions using a suspense account. The negative line on the invoice is really easy and seems to work.

Been doing it that way for a couple of years ever since we moved to Xero...

 

[Boysground]

Logged in to Xero this morning and had a message regarding the changes to banking regulations and Yodlee. I have followed all the messages through and I now have a direct feed with my Lloyds account

Not sure how quickly it updates so going to experiment and see.

Bg

 

[Adam@Rumen]

What's everyone pay for their subscriptions?

My accountant is saying they will supply for £25.80, a 5% discount from RRP of £24 plus bank feed of £3?

 

[Steevo]

https://www.xero.com/uk/pricing/
https://www.xero.com/uk/features-and-tools/practice-tools/ledger-cashbook/ (scroll to bottom)

Bank feed: https://www.xero.com/uk/partner-programs/banking-partners/uk-banks/

 

[pine_guy]

What's everyone pay for their subscriptions?

My accountant is saying they will supply for £25.80, a 5% discount from RRP of £24 plus bank feed of £3?

£35 I think, but that includes the payroll, which I may stop as only have one staff and it’s not staff number linked.

 

[Dairyfarmerswife]

https://www.xero.com/uk/pricing/
https://www.xero.com/uk/features-and-tools/practice-tools/ledger-cashbook/ (scroll to bottom)

Bank feed: https://www.xero.com/uk/partner-programs/banking-partners/uk-banks/

I have a second business on Xero and it gets a 5% discount so they are just passing on the discount they get for having more than one business on there I think.

Despite Steevo's link listing costs for bank feeds, I get Natwest bank feeds for free, not through Yodlee but through Open banking which has feeds for:
Bank of Scotland
Barclays
First Direct
HSBC
Marks & Spencer
Nationwide Building Society
NatWest
Allied Irish Bank (UK)
Danske Bank
Royal Bank of Scotland
TSB Bank
Ulster Bank (UK)

Remember too that if you can't get bank feeds you can still import statements, I do that for a couple of credit cards. It's a bit of a pain but if you don't reconcile the bank more than once a month it probably wouldn't matter that much.

 

[Dairyfarmerswife]

£35 I think, but that includes the payroll, which I may stop as only have one staff and it’s not staff number linked.

For one staff member, look at Mypaye which is £1 per employee per month, or £2 if they also submit timesheets through it.

 

[Steevo]

I have a second business on Xero and it gets a 5% discount so they are just passing on the discount they get for having more than one business on there I think.

Despite Steevo's link listing costs for bank feeds, I get Natwest bank feeds for free, not through Yodlee but through Open banking which has feeds for:
Bank of Scotland
Barclays
First Direct
HSBC
Marks & Spencer
Nationwide Building Society
NatWest
Allied Irish Bank (UK)
Danske Bank
Royal Bank of Scotland
TSB Bank
Ulster Bank (UK)

Remember too that if you can't get bank feeds you can still import statements, I do that for a couple of credit cards. It's a bit of a pain but if you don't reconcile the bank more than once a month it probably wouldn't matter that much.

Interesting stuff. Nice to have something for free.

 

[Pheasant Surprise]

Got this on email from Xero today. Looks good....


On 18 March 2020, you’ll be able to automate pesky admin tasks and say goodbye to manual data entry. That’s because Hubdoc, which has a retail price of £15 a month, will be included in Starter, Standard and Premium plans for free.
We acquired Hubdoc in 2018 to make Xero even more beautiful. With Hubdoc’s world-class data capture technology as part of your day-to-day toolkit, you can:

• Easily capture bills and receipts – Hubdoc makes it easy to upload bills and receipts using your desktop, mobile device, email or scanner.
• Let us do your data entry – Once documents are uploaded to Hubdoc, the key data is automatically extracted and synced to Xero as accurately coded transactions.
• Enjoy one-click bank reconciliation – Xero then matches these transactions to the bank feed for one-click reconciliation.
• Go paperless – All your documents are searchable and easy to access from anywhere in the world.

By automating admin tasks, you can spend less time managing documents and more time doing what you love.
This Hubdoc page has more information for you now, and we'll be in contact again before March to let you know how to get started with Hubdoc.
Thanks, as always, for using Xero
The Xero team