Category Archives: Xero online accounting

Rocking the online accounting!

These days, Fridays don’t signal the end of the week, because weekends are as busy and full as any other day.

(I’m hoping this won’t last forever, y’know, but for now that’s just how it is).

Even so, it’s hard not to feel just a little Friday Night Fever… even if that means switching the TV on and having a cuddle with the dogs, not a full-on downing 20 pints and heading into town with my gladrags on (as if I even could!)

Today, though, I allowed myself a little more Friday night fever than usual. Because, my dear, dear reader, today is the first day I think I can fully say that when it comes to online accounting, I, Have, Got, It.

Just about.

And it feels amazing!

When I took my part-time, temporary, job in a letting agents, which I know went against everything I had vowed not to do, namely not ever having another boss, this feeling was exactly what I was hoping to achieve.

Because I had never had what I would call a ‘proper job’, one where I dealt with income, with cashflow, with profit and loss, with looking into the accounts,  etc etc, I literally had no idea what to do in that area. Working in TV I was pretty much protected from anything like that, it was all about people, stories and pictures.

And of course I was never taught anything at school that might have come in useful in that area – and don’t even get me started on this – why on earth would you not want to equip children with skills that might help them make and manage money later in life?!

So back in those first few weeks and months of getting my head around all the different systems that make up running a property management agency, I avoided looking into the money side of the bespoke property management software*. Franky, I was busy enough dealing with tenancy sign-ups, leaking toilets, snotty landlords and the rest.

But in the past six weeks or so I have steadily forced myself to venture into areas called ‘Property Ledger’, ‘Tenant Ledger’ and ‘Landlord Ledger’. Instead of just looking like a blur of gobbledygook, they have, slowly but finally, begun to make sense.

And, in turn, I’ve been able to bring that awakening to Xero, the online accounting system that we use in our business.

It is still with its challenges – some of which are caused by Xero, because it is not perfect – but I finally feel that I understand what Xero is going to be able to do for us.

Part of learning anything is the learning of how that thing can work for you. Give a calculator to someone who never went to school and they would look at you blankly – they would need to learn maths to understand how a calculator could be useful. Ok, that’s a little extreme but until very recently I felt that I also stared blankly at Xero, not quite understanding what I should be getting from it.

Today our accounts assistant Ade and I – Xero was new to her too, although she had used Sage before – looked at each other and agreed that we are nearly, practically, just-about, almost in a position to say we are sort of getting there!

Actually, I think we’re further on than that, but setting up a new business (well, 3), and setting up a new and unfamiliar accounting system, on top of everything else has been challenging.

Then there seem to have been millions of interruptions and distractions that have got in the way.

But, maybe, just maybe, on this quiet, dark little Friday night, I really can celebrate a milestone.

Even though it has been really tough fitting in the job, on top of the business(es) and everything else, I am so glad I took it on, and so very glad I stuck with it, and so very grateful that it has worked out as well as it has done.

And who knew it would ever really be possible to love online accounting!

 

*I don’t want to name the property management software that my bosses use. It’s not great, and while that isn’t necessarily such a bad thing, I have found them as a company extremely unresponsive to suggestions for ways to improve. Many of the processes are clunky and very time-consuming/wasting, and could be made so much easier, but it seems they have grown too big to care. So, I won’t name the software, but if you are considering investing in property management software feel free to email me at success@projectlifesuccess.com and I will happily name and shame!

 

Project: Life Success

Changing career aged 40+, learning about and building my own business, losing weight, building passive income & finally making a success of my life!