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Your Questions Answered

Why would I chose The Accounts Place above other bookkeepers?

We are qualified accountants with a wide range of experience and highly trained staff. Our knowledge is extensive, and we are constantly learning and updating our processes to enable us to provide the best possible service. It's like having your own accounts department but costs a lot less.

What would I get for my fee?

Our clients receive timely and accurate financial information to help them to make informed decisions about their business. These range from a standard P&L and Balance Sheet straight from Xero through to a more detailed client ‘wish list’ of reports which we will write specifically for the client.

Do I need a Bookkeeper and an Accountant?

As bookkeepers we are more involved in the day to day running of the financial side of your business, whereas an accountant would be needed for Statutory Accounts and Tax. We have several accountants that we work with ranging from a sole practitioner to a larger practice with their own tax department.

I don't use Xero software. How hard is it to change over?

Xero is very user friendly so we would train you as part of the implementation. We would look at your current system and data and then decide whether to bulk transfer over the current years’ data or whether to start from opening balances.  Whichever way is decided, we will do it all with a minimum of disruption to your business and very little work for you. 

I'm concerned about data protection. How safe is it to use cloud based software?

Only the people you invite into your account can see your company’s data. When logging into Xero you can use 2 step authentications, like the banks do, making it much harder for anyone to hack into your data. All data that goes between your browser and Xero is encrypted to the highest industry standards. Your company data is backed up daily and stored securely on the cloud, so even if your laptop is lost or stolen, your data in Xero remains accessible to you from other devices using your secure login.

Will my fees increase as my business grows?

We set the fees at the outset by estimating how long your work will take to complete. This is invoiced in 12 equal instalments on the 1st of each month and collected by direct debit on 25th of the month. After a year, we will review the time spent and adjust your fee going forward accordingly giving a new fixed price per month. In exceptional circumstances, or where the requirements change, we will review before the 12month anniversary. Our fees are based on the time it takes to get the work completed so if we find efficiencies as your business grows, then your fee will not increase.

Do I have to live near Banbury to be a client?

We have clients all over the country and although it is good to meet face to face occasionally, lockdown has proved that we can do all our work remotely. If we need to talk then we catch up by phone or online meeting.

How do I send you my receipts?

We use an add-on to Xero called Receipt Bank which allows Receipts and Bills to be uploaded using a Mobile App, by forwarding emails with documents attached, or by dragging and dropping into the software. The receipts are processed in Receipt Bank and then forwarded to Xero. A copy of the receipt or bill is automatically attached to the posting in Xero for instant reference. With no need to keep the original copies, once uploaded these can be safely shredded resulting in a paperless office.