Why Numerint?
With a single click Numerint will export all the files that have been attached to your supplier invoices (bills to pay), bank spends (spend money), customer invoices (invoices), bank receipts (receive money) and journals.
Whether you are shutting down, moving from a sole trader to a limited, or you just want peace of mind with a full attachment backup, we have the solution.
HMRC requires that businesses must keep financial records for six years from the end of the last company financial year they relate to, or longer if:
- they show a transaction that covers more than one of the company's accounting period
- the company has bought something that it expects to last more than 6 years, like equipment or machinery
If your business is closing and has used Xero for its financial accounting needs, to continue to access your information you will need to continue to pay your Xero subscription for a further 84 months. This equates to at least £1200 per business (based on October 2023 Xero subscription pricing).
There's also the ongoing admin of needing to update bank account or credit card details so that your payments continue to be made for the full 6+ years and monitoring your business email address for updates and notifications from Xero.
Of course, when closing your business you could export your reports, contacts, VAT returns and account transactions. However, you cannot currently export the, potentially thousands of, files that you have spent hours attaching to transactions.
Imagine being inspected by HMRC five years after your business has ceased to trade. You have all your data exports, but they want to see a copy of a receipt, or supplier invoice, to prove a spend. If you closed your Xero account, the chances are you've lost it.
Now there's a faster, future-proofed way to achieve peace of mind to help you comply with government requirements.
Your attachments will download in their original format (e.g. PDF, JPG) and the associated data will download as a CSV file. This ensures that you will be able to access your records on any device in the future without any special software.
Your purchase allows unlimited downloads within 60 days of payment.