Xero UK – 5 FAQs & Tips To Help You Decide if Xero is the Right Accountancy Tool for Your Business
Over the first few weeks of use, Xero quickly changed from something just useful – into a priceless app that we just couldn’t live without.
The way Xero learned and adapted to our data, on top of the fantastic way setting rules saved us time and energy as we worked through our bookkeeping was incredible to experience. We really could not go back to the old way of work pre-Xero.
This article includes some tips and FAQs that we came across as we went from Xero-noobs to bookkeeping masters.
Can you connect Xero to UK banks such as HSBC?
Yes, Xero can connect direct to your bank account at any of the main banks in the UK, and pull in the latest transactions. 5,000+ banks are available internationally.
At the time of writing Xero is able to work with the following banks and credit cards:
- Airdrie Savings Bank (UK)
- Allied Irish Bank AIB (UK) – Business
- Bank of Scotland (UK) – Credit Card
- Bank of Scotland (UK) Corporate – Business
- Barclays Bank (UK) – Bank
- Barnsley Building Society (UK)
- Britannia (UK) – Savings
- BT – Credit Cards (UK)
- Cash Plus (UK) – Bank
- Clydesdale Bank (UK) Offshore – Business
- Coutts (UK) – Credit Card
- Coventry Building Society (UK)
- Cumberland BS (UK) – Savings
- Danske Bank Business (UK) – Bank
- Ffrees (UK) – Credit Card
- First Trust Bank (UK) – iBusiness
- Halifax (UK) – Business Banking
- Hammersmith & Fulham (UK)
- Handelsbanken (Card reader without cable) (UK) – Bank
- Handelsbanken (Card reader without cable) (UK) – Credit Card
- HSBC Bank Credit Cards (UK) – Business
- HSBC Business (UK) – Credit Card
- Icesave (UK)
- ICICI Bank (UK) – Business
- Kent Reliance Building Society (UK) – Savings
- Kent Savers (UK) – Bank
- Leeds Building Society (UK) – Credit Card
- Lloyds (UK) – Business Credit Card
- Monmouthshire Building Society (UK) – Savings
- My Argos Card (UK)
- NatWest (UK) – Bank
- Norwich & Peterborough Building Society (UK) – Credit Card
- Nottingham Building Society (UK) – Banking
- RBS Royal Bank of Scotland (UK) – Business Credit Card
- Royal Bank of Scotland Business Bankline (UK) – Credit Card
- Saga (UK) – Savings
- Sainsbury’s Bank (UK) – Bank
- Santander Corporate & Commercial UK – Bank
- Skipton Building Society (UK) – Savings
- State Bank Of India (UK) – Bank
- TSB (UK) – Bank
- United Savings & Loans (US)
- West Bromwich BS (UK) – Savings
- Yorkshire Bank (UK) Offshore – Business
You can usually either connect direct to your bank feed (which requires a fee) or connect free via Yodlee.
We connect Xero to our HSBC business account – and every day or two we log into Xero then refresh the feed which pulls in all the latest transactions. Because of the security baked into our HSBC account we need to enter in the required authorisation code – and the whole process takes about 30 seconds.
Can you connect Xero to PayPal?
Yes you can connect Xero to PayPal, as long as you have a Premier or Business Paypal account, which is free to upgrade to.
Xero can automatically import up to 30 days of PayPal transactions – if you need more than this you can import them manually.
Can you import other accounting software platforms such as Quickbooks into Xero?
Yes it is possible to important transactions from software such as Quickbooks into Xero.
Xero have a built in tool to import from Quickbooks & Sage, but even if you use another platform such as KashFlow or FreeAgent it is still really easy to import your transaction data.
Can I send invoices and take online payments using Xero?
Yes you can use Xero to create and send invoices direct to clients, and there are many different payment systems that you can link to Xero in order to accept payments – such as PayPal or GoCardless.
Can I add VAT information into Xero?
Yes, each transaction can have tax information applied to it, allowing you fine control of how your VAT information is maintained.
Click here to find out more and sign up for Xero.
Xero Promotions (December 2016)
Xero are currently running two promotions in the UK:
- Holiday prize draw: Buy now and save 25% on the UK’s leading online accounting software today and you could win a £50 Amazon voucher, every day until 22 December – click here
- Xero for Startups: UK businesses with an annual turnover of up to £50,000 can sign up to Xero for Startups to get access to 50% off Xero for 12 months and exclusive savings – click here
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