The full implementation of Xero generally takes around four to eight weeks, depending on the availability of documentation / information relating tp previous periods and availability of College Support team.
However the system will can be used for day to day operational activities within a few days and reporting within four weeks.
While the implementation may take up to eight weeks, the bank account(s) transactional information can be backfilled into Xero so that there is no loss of information or catch up required. This is only limited by the ability to download historical bank transactions from the bank.
Xero can also be used for day to day reconciliation of transactional information from within a couple of weeks of the implementation starting, while some of the set up continues in the back ground (IE: fixed asset setup or budget loading).
We generally recommend implementing Xero prior to the end of a financial year, rather than at the beginning of a new financial year. We have converted Schools and Colleges to Xero from January through December during the year, so the date of conversion can be flexible depending on the Colleges requirements. The timing of conversion does not create any issues for the Colleges auditor.
The key benefits include:
- Implementation process is not occurring through January/February (usually busiest period of college support staff)
- The College can continue to produce meaningful reports despite the audit not having been completed (IE: not having to adjust multiple systems for year-end or audit adjustments)
- Auditors can be provided read only access to review year-end balances, transactional and journal information; and
- The College can avoid incurring subscription fees associated with the existing system.
Xero Certified Advisors
12
Years of Xero Experience
100
