XERO BOOKKEEPING SOFTWARE SERVICES

Xero Accounting Hong Kong

Prism is equipped and experienced with accounting, auditing and taxation services in Hong Kong. To meet with the ever-changing technology world, Prism becomes one of the partners of Xero, which is one of the leading cloud-based accounting and management softwares. We assist our clients to utilize advance cloud-based accounting software to deliver fast, accurate reports and management information. More importantly, our customers can enjoy cost and time efficiently.

Xero Accounting Packages

Prism Consultancy provides the following packages which include Xero subscription, bookkeeping, preparation of unaudited financial statements ready to be passed to auditors.


SAND

 


HK$2,000
Billed annually
+
FREE
One-time Setup

  • Xero Standard plan subscription included (+HK$80 per month to upgrade to Premium plan)
  • 5 invoices, 5 bills; Reconcile 20 bank transactions
  • Xero setup includes: Invoice format, chart of accounts.
  • Linking bank feeds incl. HSBC, or other banks (if available)
SILVER

 


HK$1,800
Per Month
Billed monthly
+
HK$500
One-time Setup


OR


HK$19,440
Per Year
HK21,600
Billed annually

+
FREE
One-time Setup

  • Xero Standard plan subscription included (+HK$80 per month to upgrade to Premium plan)
  • Up to 120 transactions per month (incl. all bank transactions, invoices and bills)
  • Additional transaction per month: HK$ 15 per transaction (** See Note 1)
  • Xero setup includes: Invoice format, chart of accounts, input of all account balance into Xero, and one-hour workshop of training
  • Unlimited phone consultation
GOLD

 


HK$3,220
Per Month
Billed monthly
+
HK$1,500
One-time Setup


OR


HK$34,776
Per Year
HK38,640
Billed annually

+
HK$1,000
One-time Setup

  • Xero Standard plan subscription included (+HK$80 per month to upgrade to Premium plan)
  • Up to 230 transactions per month (incl. all bank transactions, invoices and bills)
  • Additional transaction per month: HK$ 14 per transaction (** See Note 1)
  • Xero setup includes: Invoice format, chart of accounts, input of all account balance into Xero, and one-hour workshop of training
  • Unlimited phone consultation
DIAMOND

 


HK$6,000
Per Month
Billed monthly
+
HK$1,500
One-time Setup


OR


HK$64,800
Per Year
HK72,000
Billed annually

+
HK$1,000
One-time Setup

  • Xero Standard plan subscription included (+HK$80 per month to upgrade to Premium plan)
  • Up to 500 transactions per month (incl. all bank transactions, invoices and bills)
  • Additional transaction per month: HK$ 12 per transaction (** See Note 1)
  • Xero setup includes: Invoice format, chart of accounts, input of all account balance into Xero, and one-hour workshop of training
  • Unlimited phone consultation

** Note 1:

  • Book all expenses and payments into Xero with attached invoices so that all expenses can be tracked.

  • Record transactions such as income and outgoings, and post them to various accounts.

  • Conduct banking activities.

  • Produce financial reports that are ready for auditing.

  • Reconcile reports to third-party records such as bank statements.

  • Maintain records of financial transactions by establishing accounts, post transactions, and ensure to meet compliance requirements.

  • Balance general ledger by preparing a trial balance, and reconcile entries.





XERO Training

Please contact us to enroll:

  • Phone: +852 34645200

  • Email: info@companyincorporation-hongkong.com

XERO ACCOUNTING SOFTWARE

With Xero’s advanced accounting online system, you can enjoy the following benefits:

  • Keep your cash flow healthy by sending online invoices with online payment options.

  • Track inventory, manage stock and easily add items into invoices and orders anytime.

  • See how cash is tracking with a quick glance at your customizable Xero dashboard.

  • Keep track of the money in and out with daily updates and simple bank reconciliation.

  • Customize management reports that you can review anytime and wherever you are to assist you to make right decisions.

  • Able to connect with over 700 difference business mobile apps to help you seamlessly manage your business.

  • Free yourself from worrying about financial records, supervising accounts staff, and dealing with creditors and auditors.

XERO Partner (Official)

Prism Consultancy is an official partner of Xero (on Bronze level).

Xero Bronze Partner - Prism Consultancy

Prism’s role when you are using Xero:

  • Review and analyze your company current situation on book-keeping, internal control, invoicing, resources on accounting

  • Consultation on how your business maximize the function and features of Xero and its associated apps

  • Advise on cost efficiency by using Xero

  • Plan and schedule for Xero initial set up

  • Conversion of existing software data to Xero

  • Implementation of Xero on your daily operation

  • Train your in-house staffs for using Xero

  • Continue consultation and follow up to meet the clients business changing needs

  • Monthly checking and review to ensure the data is properly input and the useful reports will be generated to provide management a right tool for decision making.



To better understand and keep track of the financial health of your business reports that can be generated from Xero include:

  • Accounts receivable aging report

  • Accounts payable aging report

  • Income statement

  • Balance sheet

  • Cash flow statement



With the accounts receivable aging report, you can keep track of all the income and sales i.e. each single upcoming and overdue invoice of each customer. In Xero, you can create an online quote, bid, or estimate. You can invoice a customer, create a credit note, or receive a customer payment through traditional payment methods or online through PayPal, Stripe, etc. You can even set up email reminders to be sent to your customers for overdue invoices.

With the accounts payable aging report, you can keep track of all the expenses and bills. In Xero, you can create and manage expense claims. You can create a bill, mark bills paid online, or pay bills with a check.

The income statement, balance sheet, and cash flow statement are always the three primary financial statements or reports. The income statement simply shows the financial health of your business. The balance sheet reveals the total assets, liabilities, and equity of your business. The cash flow statement provides the insight into the overall cash flow of your company.

One of the best features is the ability to connect all your bank and credit card accounts to Xero. Once connected, all the bank and credit card transactions can be downloaded directly into Xero. This is a big time saving as it prevents any manual data input.

To make Xero a long term plan for accounting/bookkeeping management of your company, you will set up (or import) all the necessary details of your customers, suppliers (or vendors), and services (or products). Xero enables you to quickly set up or import such information.

In almost no downtime, you will be able to fully switch from spreadsheet and/or another bookkeeping software to Xero.

More than 700 third-party apps are available and ready to be integrated with Xero. The third-party apps are in categories:

  • Payments: e.g. PayPal, Stripe, Square, Practice Ignition

  • Payroll service and HR: e.g. HReasily, Thai Account Pack, Talenox, RosterElf

  • Invoicing and jobs: e.g. WorkflowMax, ServiceM8, ApprovalMax, simPRO

  • Inventory: e.g. DEAR Inventory, TradeGecko, Unleashed Software

  • CRM: e.g. Capsule CRM, Pipedrive, Accelo, Insightly CRM, Mailchimp, Hubspot, Pepperi

  • Time tracking: e.g. Deputy, Fergus, Tradify