Xero is a highly sought after cloud-based accounting software which provides the users with accurate numbers anywhere, anytime and even on any device. Xero has assisted in building a trusted relationship with small business clients with the help of online collaboration. This is a service which is used by over 1.5 million users around the globe. This service has help take a lot of burden off the shoulders of the users and the best part is they can access their data from anywhere. Xero has also made sure that they cater to all the needs of the users in the best ways possible. Users are provided with the benefit of Xero customer care number at all times. This is a customer support which the users can avail at any time to cater to concerns of any kind. They would provide the users with prompt solutions on every query that they would come up with.
One of the common query that the users come across with is regarding transfer of Xero subscription. It has often been seen that users while working for an organization would take the subscription of Xero on their profile which they later wish to transfer to an organization or someone else. This is often seen when a user subscribes to Xero when they start up with an organization. When they later expand to a well of business they come across this need of having to transfer the subscription in the name of the organization. Xero as aptly catered to this need of the users. They have made it functional that a user can efficiently transfer the subscription using some simple steps. Inculcating these steps have aided a lot of users who have subscribed to Xero.
Process to be undertaken to transfer Xero Subscription
In a simple overview Xero has made sure that if you have the principle role in practice, you can efficiently transfer the subscription for an organization to someone else where the person who takes over the subscription then becomes liable for the monthly payment to Xero. You can simply resend or even cancel an invitation to transfer a subscription.
The steps to transfer the Subscription are as follows:
- Initially, you would have to choose the organization’s name of which you want to transfer the subscription and then you have to select the option “My Xero”.
- To the right-hand side, you would find few options under the heading of subscription.
- There you would then have to select the option which says “Transfer”.
- After you have done the above-given steps, you would further have to fill in the name and email address of the new subscriber.
- Once you have filled the required information, click on the option of “Request Transfer”.
The transfer would only be completed when the person whom you have nominated to take over the subscription accepts the invite. You would receive an email confirmation stating the acceptance of the new subscriber and the subscription transfer would be complete.
If you come across any doubts in the process to be followed and wish to garner more information, you can do so effectively by connecting with the Xero technical support number. They would provide you with trained professionals who have complete knowledge of guiding you through the process.
Xero Account is a cloud-based accounting software that gives you the luxury of completing different accounting tasks on one platform. Through Xero Account you can sync your bank transactions, contact accountants and process invoices much faster. This article explores how you can import you ban statements to Xero Account so that it becomes easier to manage your finances. If you want a more detailed guide for important your data you can contact Xero customer care number and speak to a certified expert about the same.
Steps to Import Bank Statements in Xero Account
The Xero Import Bank Transactions tool makes it very easy to transfer your transaction data from a CSV file. You can follow the steps given below to import your bank statements:
- Go to your bank website and download your bank statement and open it with Microsoft Excel or Google Sheets.
- You can edit the bank statement to keep only what information you need. Bear in mind that it is important to retain all the information related to dates, descriptions and transaction amounts.
- Once you are done editing the bank statement as per your preference you can save it on your computer. Remember to save it as a format that is compatible with Xero. Xero allows you to upload three different types of files OFX, QIF and CVS. It is recommended that you use the CVS format.
- To import the file to Xero go to the Manage Account section and click on ‘Import a Statement’. Click on the browse button and navigate to the location where you saved the CSV bank statement. When you are ready to upload the bank transactions just click ‘Import’.
- In case the is the first bank statement you are importing to Xero the software will ask you to check if the fields in the CSV file are mapped correctly with the fields in Xero.
- Go through all the fields one by one to make sure the data in the bank statement corresponds to the data in Xero. If this is the first time you are importing data then go slowly as it may be a little confusing at the start.
- If the data is imported correctly you will observe that the date field of the statement corresponds to the transaction date filed in Xero. The same can be said of the amount filed in the bank statement and the transaction amount field in Xero.
- Apart from the date and transaction fields, you should check to make sure the payee and the description field in the bank statement and in Xero are mapped correctly.
- Once you are satisfied with the mapping just click save and you will be able to see the reports of the import.
Once all the transactions are uploaded you can reconcile the bank transactions with the general ledger in Xero. If you have any difficulty in the steps mentioned above or if you notice any discrepancies between the information in your bank statement and the information in Xero you should contact Xero technical support number as soon as possible. A certified expert will be happy to give a step-by-step guide on how to correct any data error while importing bank statements in Xero Account.
Your VAT return is basically a calculation of the value-added-tax that needs to be paid to or in some cases reimbursed by the HMRC. If you are a VAT registered business then you will be required to file your VAT returns on a quarterly basis. Thanks to Xero filing your VAT returns online has never been easier. As a cloud-based accounting software, Xero is specifically designed to help small or medium sized businesses keep a track of their finances online. Because of the legal issues involved, you should always consult an expert before submitting your VAT returns. If you feel that you need help completing the process you can contact Xero customer care number and seek additional assistance. You can also read through the steps and suggestions given in this article so that you can complete the VAT return process without any hassles.
Important Points before Preparing VAT Return
Here are some important points to keep in mind before you begin to prepare your VAT return in Xero:
- Be sure to go through all the transactions for the return period to make sure the information entered is accurate
- Run the bank reconciliation summary to make sure all the accounts are reconciled with the end if the return period.
- Create a general ledger report and verify any transactions that may appear on the Exceptions tab
- Double check the financial settings to certify your VAT details
- Publish the returns for any previous period according to the date
How to run your VAT Return?
If you have checked and verified all the transactions for the return period then you can follow the steps given below to run your VAT Return on Xero:
- Step 1: Open Xero and login in
- Step 2: Go to the Accountingmenu and select ‘Reports’.
- Step 3: Look for the Tax section and click on ‘VAT Return’.
- Step 4: Choose the ending date of the return period and click ‘Update’
- Step 5: You have the option to save as a draft so that you can finish your return checks before the final submission.
- Step 6: If all the information is accurate you can click ‘File VAT Now’ to complete the process.
VAT Adviser Review
Before you finalize your VAT Return Xero recommends that you get it reviewed first. Any user in the organization who has adviser access can be asked to review the VAT Return. You can follow the steps given below to request a review:
- Go to the green window at the top of your VAT return
- Select the highlighted option that reads “ask your adviser to review this return.”
- Choose an adviser from the list given, type your message and click ‘Send’.
If you need the VAT Return for future reference you can export it using Google sheets or Microsoft Excel. If you have any trouble preparing your VAT Return on Xero you should contact Xero technical support number and ask for help. A team of professional Xero experts is available 24 hours a day to provide quality technical assistance to resolve any VAT error you may encounter on Xero.