Hyde United FC improves accounting performance with Team Xero

RfM’s cloud accounting specialists worked closely with the finance team at Hyde United FC to facilitate the move to a cloud-based accounting system and drive improvements in their finance processes.

“When RfM first began working with the finance team at Hyde United, they were using Sage for their bookkeeping. Unless you’re an expert, Sage can be difficult and complex to use. The team was not getting the most from the software, and certain tasks took much longer to complete than they needed to,” explains Paul Newsham, Director at RfM Accountants Preston. “For RfM to provide the right level of support and get their finance function running smoothly and efficiently, we determined that Xero would be a much better solution.”

Xero accounting software is cloud-based, meaning users can log in and see up-to-date financial information from wherever they are, on a computer or a mobile device—all they need is access to the internet. Using a cloud-based accounting system also enables your accountant to log in and see an accurate picture of the business finances and, most importantly, pinpoint and solve any problems you might be having. Indeed, both user and accountant can be logged in remotely at the same time and see the same, up-to-date financial information, making it possible to have “real-time, over-the-phone meetings” as and when they need to.

Clever features

Over a 12-month period, RfM supported the finance team to move their financial data and processes over to Xero. The RfM team also delivered training and provided ongoing advice to ensure the team at Hyde United was making the most of Xero’s many time-saving functions.

“Although the desktop system they were using was outdated, it was the system that everyone knew and was comfortable with. So, the most important thing was to get to a position where everyone felt comfortable using Xero and had enough knowledge to benefit from all the smart features,” says Paul. “The Club has a vision to become paperless, and moving their accounting operations to the cloud is a big step towards this goal.”

Here are just some of the ways that Xero has made a difference to the Hyde United finance team:

• Invoicing and statements: The team can easily generate invoices and send them by email from within the software.

• Bank feeds: Once the bank feeds feature is set up, transactions in and out of the bank account(s) can be posted automatically to the relevant income and expense accounts.

• Expense receipts: Digital images of receipts can be stored within the software, enabling fast retrieval if needed—no need to keep paper copies.

Continuous improvement

Moving to Xero has improved the accuracy of financial record-keeping and streamlined the process of preparing the Club’s quarterly VAT returns and management accounts.

“As their accountant, I can log in to see the Club’s records at any time and get an accurate, real-time view,” says Paul. “The team is fully up and running and very happy using Xero, but the improvements won’t just stop here. We meet with the team on a regular basis to ensure all filing deadlines are met and look for other ways in which we can improve the finance processes. It’s a real partnership, and we have come a long way together, but we’ll keep striving to make things even better.”

Pete Ainger, General Manager of Hyde United, also agrees that the move to Xero has positively impacted the day-to-day task of managing the Club’s finances: “Xero is much easier to use than the system we were running before. Tasks that were complicated and frustrating before can now be completed far more efficiently, so the team is much happier. RfM provided the right level of training to help the finance team get to know the software, and the team is always on hand if we need to do something in Xero that we haven’t tackled before. It also makes it easier for them to do their job, so it’s definitely been a win-win for us!”

Hyde United FC

"Xero is much easier to use than the system we were running before. Tasks that were complicated and frustrating before can now be completed far more efficiently, so the team is much happier. RfM provided the right level of training to help the finance team get to know the software, and the team is always on hand if we need to do something in Xero that we haven’t tackled before. It also makes it easier for them to do their job, so it’s definitely been a win-win for us!"

-Pete Ainger, General Manager