Xero: Leavers for payroll

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If you are using Xero for payroll, you will likely encounter the need to issue a P45 to staff who leave your company at some point. This short guide will talk you through what you need to do. To start with you will need to locate the staff member. This can be done through the payroll menu at the top … Read More

Xero: What Is Hubdoc?

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Xero have a free add-on called Hubdoc which allows you to automate a lot of your data entry saving you a lot of time and hassle and allowing you to focus on your business rather than on your admin. If you have a Xero account, Hubdoc can be accessed once you are logged in on a computer by clicking the … Read More

Xero: My Payroll

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If you use Xero to run your payroll, you can invite your staff to My Payroll to allow them to view payslips, P60s and more. In order to invite an employee, you need to go to their employee page within the Payroll menu, click the Invite to My Payroll box and click save at the bottom of the page. The … Read More

Xero: Running a pay run

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Xero offers a payroll service for a monthly fee. This will allow you to run your payroll yourself. It is advised that if you ever have any queries about what to do in certain circumstances (e.g. annual leave, sick leave, parental leave) that you consult an expert if you are unable to find the information out through your own learning. … Read More

Xero: Adding Staff to Payroll

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Xero offers a payroll service for a monthly fee. This will allow you to run your payroll yourself. It is advised that if you ever have any queries about what to do in certain circumstances (e.g. annual leave, sick leave, parental leave) that you consult an expert if you are unable to find the information out through your own learning. … Read More

Why set up a limited company?

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This is the first part in a series of articles I am writing on running a company as these are issues the come up with my clients on a regular basis. When you start up a business, you have a choice of the legal structure for it. The most commonly used structures are sole trader, partnership and registered company. I … Read More

Property rental basics

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If you’re renting out a property, then this is a taxable activity, and you need to complete an annual self-assessment tax return. There are different requirements if you are renting out property through a company, we will just deal with individual landlords in this blog post. Property rental will be subject to income tax. The rate at which you are … Read More

Why use accounting software?

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Accounting software in use

Why would you want to use accounting software? Why wouldn’t you just let an accountant do all the work for you? There are a few good reasons why you might want to. I’ll list 10 of them below. 1. CostUsing accounting software and doing the bookkeeping yourself may well be cheaper than paying someone else to do it for you. … Read More

Xero: How to reconcile your bank account

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To get to the bank reconciliation screen, you can either click the Reconcile x items button on your Dashboard, or select Accounting and then Bank Accounts from the top menu. You will then see a list of all unreconciled transactions in your bank account that you need to review. There are several ways to reconcile a line on the bank … Read More

Xero: How to add a bank account

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This is a short guide on how to add a bank account to the Xero accounting package. From the Accounting drop down menu, select the Bank Accounts option. This will take you to a screen where you will see any business bank accounts that are already linked to Xero. Select the Add Bank Account option. You will then be asked … Read More