Switching from Xero - Timing and Problems?

Hi

I’m thinking of switching my limited company accounts from Xero on the grounds that I’m not sure what value I’m getting from my monthly fee.

Would it make sense to do this at the start of my next FY (1 April 2016) and what problems if any might I experience in transferring over? I bank with Santander Business Banking - does that account integrate easily online with QuickFile?

Thanks

It’s always worth transitioning at a logical point in your accounts, e.g. the year end or quarter end. You shouldn’t have any difficulty running a trial balance on Xero then importing this into QuickFile, there’s no need to import all your historic invoices.

After importing the TB the other thing you’ll want to look at is setting up any client and supplier invoices that have not yet been settled and adjusting this into your debtor balance.

There’s a guide here that may help:

http://www.quickfile.co.uk/home/startup

I believe Xero use Yodlee to handle the Santander imports, although I’m not sure how reliable Yodlee is, I’ve heard a that it’s hit and miss. We have a Chrome Browser Extension that allows you to go into Santander and stream your bank statement information directly into QuickFile. It’s not an automated system (although we are fully automated with Barclays) but it should save some time exporting and importing CSV files.

http://help.quickfile.co.uk/main/1/quick_file_bank_feed_plugin.htm

Hope that helps, please let me know if you have any follow up questions.

Thanks Glen.

Hugely impressed with your speedy and helpful response.

You’re right re Yodlee and it’s not without its faults - I often have to reset all the security info which is a pain.

I’ll open a Quickfile account for the company and plan the change for the end of the next VAT quarter (September. Between now and then I can populate customers. and suppliers etc.

Cheers

E

No problem, glad to help!

Bank feeds are a pain everywhere I’m afraid. Unfortunately the banks in the UK are very slow to adopt open API’s so getting the data out is always a fudge.

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