Xero Historical Financial Data

Once the Xero accounting system has been set up and customised to your current business structure and financial requirements we need to load the historical financial data, this includes:

Creating Invoices and Supplier Bills since the beginning of the current financial year, including those outstanding at the end of the previous financial year

Loading up all bank statements  since the beginning of the current  financial year.

We assume the bank statements are in excel format. If PDF is provided there may be a charge for an external conversion service provided by the ReceiptBank company.

Performing the bank reconciliation for the above invoices, bills and bank statement lines.

Creating the fixed assets that were on hand at the end of the previous financial year, including accumulated depreciation.

Creating your foreign exchange balances, which is necessary if you are using multiple currencies.

Some parts are more technical than others, particularly the loading of large bank statements, creating fixed assets and adjusting the foreign exchange balances.

So we can definitely help with all aspects but if you would prefer to do some yourself, or perhaps some months after we have done a few, this is definitely possible with the creation of invoices, bills and doing the bank reconciliation once you have some initial training which is included in our Xero setup package.

If you have larger data sets than mentioned above, there may be some efficiencies gained and we can discuss specific pricing.

Base per month charge is R3,000 and adjusted up for volume. Please get in touch for a specific estimate for your data.