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From e-Record to Xero

Time is nearly up for e-Record and if you or your clients are looking for an alternative, Xero is worth considering. e-Record is the free electronic record keeping system for small businesses provided by the Australian Taxation Office (ATO). This will no longer be available for download from 1 July 2010 and support will stop for existing users from 20 September 2010.

Xero is registered with the ATO and can meet many of your e-Record needs, such as:

  • Producing a compliant tax invoice for sales
  • Helping keep track of GST you receive from sales/income and GST you pay on expenses
  • Creating a BAS with ease
  • Easy Bank Reconciliation – Xero’s bank feeds mean you get data automatically from your bank and with our bank rules, cash coding and the ability to manually import bank statements, you don’t have to key in all your receipts and expenses before you can do a reconciliation
  • You can share and collaborate with your accountant and produce reports required by the ATO

We also think it’s much easier on the eye!

Xero has several advantages over e-Record too. There’s no need for downloads or software updates. You can access your accounts anywhere, anytime there is an internet connection. Your data is always up-to-date and we take care of the security and data back-ups. Xero gives you greater visibility of your business and takes your focus beyond tax compliance. There’s also unlimited support and a world class Help Centre. Nor do we mind what operating system you use or if you’re on a PC or a Mac. And it’s important to note that because the data is presented in a way that is easy to understand, this will help reporting to the ATO. 

If you’d like to find out more about switching to Xero, then visit www.xero.com and sign-up for a free trial or email us at sales@xero.com

 

Read more about Accountants, Australia

 

7 comments

Mark Fuller
19 April 2010 #

For those who feel like having 100% control of their small business accounting data and unlimited invoicing and bank reconciliation, you can take a look at Cashflow Manager small business accounting software as a viable alternative to e-Record for only $41 a month.

See http://www.smallbusinesslog.com/why-cashflow-manager/how-much-it-cost/

Pete
20 April 2010 #

Saasu is an Australian company which replaces erecord and has all the normal features you would expect such as inventory and payroll (which xero doesn’t) and it is also cheaper (from $25). There is even a permanently free version (not just a free trial like xero) for businesses with under 20 transactions per month. 10,000 users can’t be wrong :-)

Catherine Walker
20 April 2010 #

Hi guys, thanks for your comments. We always welcome another point of view and appreciate feedback and comparison, as I’m sure those looking for a prospective accounting system do too. Obviously we see that both these products have a number of differences when compared to Xero – notably that Cashflow Manager is desktop software. People are free to choose the product that best suits their needs.
Regards,
Catherine

Mark Fuller
23 April 2010 #

Hi Catherine,

Agree…in fact, SaaS has open up the choice of convenience to small business owners. So, it’s up to them to familiarise themselves with the virtual software environment!

Emma D
4 January 2011 #

Finally, a UK version of Mint. Although I am disappointed at how much this costs! Is there any chance of having a stripped down version available to poor students for free or at a minimal charge?

Ravi
2 February 2011 #

Hi Catherine,

Does Xero provide any tool or workflow to migrate my exisiting e-record data to Xero?

regards

Catherine
15 February 2011 #

@Ravi There are no migration tools now that e-Record has been retired. If you haven’t already, getting a Xero organisation going is straight forward and takes you through a stepped process to get the right information into the right place – our set up guide can tell you upfront the information you’ll need before you get started if you want to see that first. Also there’s a free trial period if you want to experiment!
At the minimum you’ll just need to set up your bank accounts with your bank balance as at the date you want to start using Xero which you can do during the set up phase or from the Dashboard once you’re using Xero – you’ll also see a prompt if automatic bank feeds are available for your accounts.
You’re also welcome to contact one of the certified advisors listed on our website.

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