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A Case Study: How automatic bank feeds help speed up the bookkeeping process

A client did their quarterly bookkeeping and VAT return on Sage, we changed that

20 Oct 2020

We were appointed by a client who did their quarterly bookkeeping and VAT return on Sage.  The client has three bank accounts which have to be posted manually on Sage each quarter. As the client is registered for VAT on a cash basis, whenever the client didn’t supply the invoice corresponding to the bank transaction, the bank transaction was left outstanding from Sage and input on an excel spreadsheet to be sent to the client. This meant that the bank never matched on Sage and the bookkeeping process was very difficult if transferred from one individual to another to work on.

To streamline this process the client needed an updated system which integrated automatic bank feeds, one that was capable of producing easy-to-read reports. This would enable the client and accountant to keep track of the outstanding invoices required.

Our team transferred the bookkeeping from Sage to Xero, making everything quicker and smoother. Xero has integrated bank feeds so it was no longer necessary for bank statements to be manually uploaded.  It also produces a bank reconciliation report which can be sent to the client directly from Xero.

The client now receives clearer reports on what is outstanding from the bank and what needs to be reconciled. With the report from Xero you get exactly what appears on the bank statements, so it helps the client to look for exactly what is needed. The bookkeeping and VAT return now is a smoother process and takes significantly less time to complete each quarter.

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