Xero bank feeds are changing…

There are some new changes for direct bank feeds in Xero

Have you logged on to your Xero recently to be greeted with a big red message on your dashboard saying your direct bank feed will stop importing transactions?

Under new regulations some direct bank feeds are changing the way they work. 

What is happening with Xero bank feeds? 

Some of Xero's bank feed connections will change to comply with new requirements. 

Xero's existing bank feeds with Barclays, as well as all UK and EU bank feeds set up  using Yodlee, will no longer be available. These will be replaced with new direct bank feeds using Open Banking. 

If you don't change the affected bank feeds by the deadline, your transactions will stop being imported in to Xero and  any missing transactions will need to be manually imported. 

If your bank is affected what do you do?

All you need to do is log on to Xero and follow the instructions on the dashboard, you will need your online banking passwords too and any memorable information. 

What else should you know? 

Existing bank rules may be affected 

If you have bank rules set up, you'll need to check they're working once the new bank feed is connected. Visit Xero Central for a refresher on how to check your bank rules.

Re-authenticating bank connections every 90 days

As part of new requirements, you will need to re-authenticate your bank connection every 90 days. Xero will remind you when you need to do this and it's as simple as re-entering your online banking credentials.

Yodlee bank feeds: 

See the full list here

  • The Co-operative Bank
  • HSBC
  • Halifax
  • Lloyds
  • Natwest
  • Nationwide
  • RBS
  • Santander

As always if you need any help please don't hesitate to contact us!

Call us: 01257 429525 Email us

Macmillan Coffee & Cake Morning + 7 Ways to Grow Your Business Workshop

Office Open Day

Date: Friday 27th September 2019

Time: 10-1pm

Where: Rivington Accounts, Bank House, 6-8 Church Street, Adlington, Lancashire, PR7 4EX

There will be an abundance of cake and knowledge at our office open day on Friday 27th September 2019.

We will be hosting our '7 Ways to Grow Your Business' workshop & the Macmillan Coffee and Cake Morning from 10am to 1pm. There are two time slots for our 7 Ways to Grow workshop depending on which time works best for you, 10 am or 11.30am.

There is a small donation of £5 to attend our workshop and/or coffee morning but all proceeds made are being donated to the Macmillan charity. When booking your tickets, feel free to leave an extra donation if you wish to do so.

By attending the 7 Ways to Grow Your Business you can expect to learn ways to;
  • Maximise business efficiency
  • Improve profit & cashflow
  • Gain clarity on how to better lead/manage your business

You'll be taught several useful ways to grow your business whilst enjoying some freshly baked goodies - and even better it's for a great cause! There will also be an opportunity for Xero training and Making Tax Digital support with members of the Rivington Accounts team. 

Business workshop not quite your thing? Don't worry, you can just come for a brew, cakes and a natter instead!

Macmillan Cancer Support is a charity that goes above and beyond for those affected by cancer. Which is why we've chosen to get involved with their well known coffee and cake morning for a second year running in a bid to raise money for the charity. Last year we managed to raise almost £200 and couldn't have done it without your support - anyone is welcome to help us collect money for Macmillan at our office open day.

Book your ticket by clicking the button below to attend our Macmillan Coffee & Cake Morning, the workshop or to just make a donation! 

Book your ticket here / Make a donation

Hot on the comms…

Does your accountant take ages to respond?

We had a client who recommended us recently to her friend, as we are 'hot on the comms' as she put it, I've never heard that expression before but she's right! 

One of the keys to running a successful business is to act quickly, when you need information you should be able to get it as fast as possible. Imagine if you had to wait 3 or 4 days for an answer to your google search! If you ask a question and you don't get a quick response you'll either lose the momentum or forget why you even asked in the first place.

As accountants, we are in a unique position to help clients in a number of ways and one of those is simply to respond to client's questions in a timely manner. Nobody likes being ignored, especially when it comes down to family and friends - but worse even when you're paying for a service and your queries are not being answered promptly. Gene Marks said this best in this article 3 Red Flags That Your Tax Accountant is an Idiot  "If you're struggling to find and communicate with your accountant, then he's an idiot. Your accountant, no matter how smart he may be, is not God. You are the client. He is the service provider. That means when you need service, He needs to respond."  Supposedly, the advice for working efficiently is to not check your emails constantly, we don't agree with that at Rivington Accounts though, we are committed to developing our client relationships and our testimonials further prove this. Don't get me wrong there are times when we can't respond straight away, but we always aim to respond the same day or within 24 hours and will tell you who to contact if anyone is on holiday. We pride ourselves on our responsiveness and it works both ways as we work best with clients who answer our questions quickly. We also have internal targets that ensure we complete work for Limited Companies more than twice as quickly as most firms.  So if you are MEGA frustrated with a lack of communication with your accountant remember that we're not all the same... Click here to read more about how we look after our clients

Our DIY lounge makeover

We gave our ordinary lounge a spruce up! Read on to hear about how we achieved the new look...

The lounge was looking a bit dull (unfortunately forgot to take before pics) before we started working on it  - but now we've given it a lick of paint, with bright colours and crazy patterns, and now the team can enjoy lunch together in room that is interesting to look at and feels a bit more homely. 

It's not often that you get to show your creative side whilst working in an accountancy practice so we're always looking for ways to do things out of the ordinary, and most importantly, have a bit of fun. 

The first step we took to achieving lounge 'goals' was the feature wall. We knew we wanted something bright, with a geometric design but at first we weren't sure of the best route, we aren't painters & decorators so we knew we needed something easy .  So we looked at some tutorials on YouTube, we found a good design and even better it looked relatively simple. 

If you would like to recreate the same kind of thing for your home/office space take a look at the video below! 

For the colours, we chose yellow, blue, light grey and dark grey. It took us a few days work to get the desired effect as we had to paint the base coats first. 

For the next step we decided to buy a new table, the old table and chairs weren't exactly the comfiest and we weren't making much use of the space really.  The old table could only fit 4 people on and that made it hard for the team to eat together. We decided to buy a extending table which could now fit 8 chairs around it. As we already had an abundance of chairs downstairs there was no need to buy anymore which was lucky. 

Click through the gallery below to see the pictures up close! 

The last step we took was painting some canvases to match the feature wall. As we had accidentally bought much more paint than needed we knew we had to put some of it to good use. These are the paintings that we came up with. (We decided to name them like any great artist would) I know what you're thinking... has Picasso been reincarnated? 

'Space Rasher' in all it's glory.

'Glass of Bubbly?'

'Cheese Gromit?'

If you're looking to unleash your teams creativity and perhaps you've got a few walls going spare, we suggest organising something similar. It cost less than getting the professionals in and created a lovely personalised room for the team.