Frequently Asked Questions – Xero

  1. Is my Data safe?As you would expect, Xero are committed to the security of customer data and say that they provide “multiple layers of protection for the personal and financial information you trust to Xero”. You can read more about how they do this here  and view their privacy policy here
  2. How can I get help?If you have signed up for Xero via your accountant or bookkeeper then just click on the “?” to email your advisor. If you signed up on your own then clicking on the “?” will allow you to email Xero support with your problem.  It’s best to include a screen shot with any questions so that they can see easily what is wrong.There are also lots of videos and screenshots in Xero and on YouTube – so you’ll never be stuck for help.Why not contact us and sign up for a free 30-minute introduction to Xero, or join one of our online webinar sessions?
  3. Why does my bookkeeper/accountant ask to see my bank statements – they are surely already downloaded onto Xero?This is one of our most frequently asked questions! It is true that Xero downloads your bank statement but it is possible for there to be errors in that download, or that items have been entered incorerctly or duplicated making the Xero balance incorrect.Running the bank reconciliation report each month helps us ensure your data is correct.  This involves comparing your actual bank balance per your statement with that on Xero – and locating and correcting any differences.
  4. We use a numbering system for our sales invoices on another system – can Xero continue this?Yes, simply go to Settings/General Settings/Invoice Settings and click Default Settings. Now type the invoice prefix and the next number you want to use.  Do the same for Purchase Orders and Quotations if you use these.Save the screen and it’s done!
  5. I am thinking of moving to Xero but don’t want to lose previous years data as I like to compare this – is there way to include this in Xero?Yes! There are 2 ways to do this.
    • Use MoveMyBooks (Recommended) – Xero currently offer a free of charge service via MoveMyBooks. This allows you to move up to 2 years worth of data.  If you want to move additional years it currently costs £60 per year.This moves your chart of accounts and all account balances.  Customer & supplier contact details and account balances and individual transactions are also moved.  Moving this way is quick (around 3 hours) and accurate but you may need to tidy up a bit once done.
    • Import via .csv filesIf you are reasonably competent with spreadsheets It is fairly straightforward, but time-consuming, to manually import your data into Xero. You may feel more in control of the process this way and there are lots of videos to help.
  6. Is Xero approved by HMRC for Making Tax Digital (MTD)Yes – Xero is MTD ready. Ifyou are not sure what this means get in touch now and we will be happy to help.
  7. Can Xero cope with multiple currencies?Yes! The Premium version works seamlessly with multiple currencies.  It’s intuitive and easy to use.  Follow this link for more information