Running an 8-year old / £8m turnover business on a spreadsheet was perhaps unusual, but with two chartered accountants (and a tax expert) in control, we were happy that everything always reconciled to the penny and we could report what we needed and more. In reality, we should have implemented an accounting system many years ago but had always been put off by the effort required through the transition period whilst in parallel, having to run the business itself. The recent new relationship with Bishop Fleming and our growing finance team provided us with the confidence from which to make the change.
Having their experts and system knowledge on hand every step of the way removed much of the uncertainty and provided us with the framework to efficiently transfer over a 2-3 month period. Xero itself couldn’t be simpler to use and, whilst we are still understanding the best way to align it with some of our financial processes, there are many aspects where it is already starting to make these more efficient and appear more professional to our clients and other stakeholders. This ranges from the speed of raising and sending sales invoices to just how easy it is to run reports as required; all of this being cloud-based and seamlessly visible to all our users. I’d certainly recommend Xero and Bishop Fleming to anyone else looking to implement an accounting system.