Xero and Accountancy

We are the appointed accountants for the D2Expert. We can offer your medico-legal practice online accounting with integrates with Nephex. The online accounting package is called Xero.

After choosing Xero as its software of choice, D2Expert chose JacRox Chartered Accountants as its professional advisers to maintain the Xero software and accounting records.

Xero is the software of choice because of the ease of integration with Nephex.

We, and D2Expert, recommend that all experts use Xero to account for their income from Medco cases.

Here at JacRox, we setup the relevant API keys and passwords to integrate your Xero client with Nephex. And once the expert report is ready to be invoiced, Nephex creates a sales invoice directly in your Xero accounting package. There is no need for you to manually enter that sales invoice to the solicitor. And if you use JacRox to undertake your accounting and bank reconciliations, we can reconcile the money received from your solicitor clients. This gives you an accurate and up to date picture of the solicitors where report fees are still outstanding.

All your accounting needs can be met without you, or your secretary, having to maintain detailed record and spreadsheets. This saves you time and money. We estimate that this will reduce your compliance costs (including the time saved by you) by some 70%.

So leave the accounting to the experts!

We know from many years of dealing with medical experts, that understanding who the debtors are, and how much is owed to you, is very confusing for experts. Using Xero and Nephex, you can take control back, and know exactly where you stand with each solicitor. No more receiving payments on trust.

Inevitably you will have to give credits where cases fail. With Xero, over time, you will be able to get a better understanding of which solicitors have higher write offs than others. You can then choose, based on empirical information, whether to accept future cases.

As Xero is an online cloud accounting package, any number of users can use the software concurrently. And so if you already have a trusted accountant, they can login and review the transactions and advise you of your VAT liabilities etc. They can also use the software to prepare your annual accounts.

Or of course you could choose JacRox as your professional advisers.

Some experts are using Xero linked with Nephex to record only the transactions that come from the Medco portal. In that instance, they are not changing their accounting systems for their other sources of income. Other experts are taking advantage of the efficiencies of cloud accounting and moving all of their accounting to a single Xero package. The system is very flexible.

Some experts have chosen to form a separate limited company and use that new entity for the cases from Medco. We can form new companies with 24 hours.

Xero is very easy to use. The feedback from other users has been extremely positive. There are a number of other advantages, as outlined below.

Xero Benefits

Benefits to Experts

Why choose JacRox:

The Xero service is delivered through our JacRox brand.

Additional Services

We have tailored the service to provide a cost effective, efficient, uniform solution to each medical expert.

We can prepare personal tax returns and we would be happy to provide a fixed fee quote for anyone who wanted to use that service.

We can also offer tax advice and business consultancy at an agreed rate on a case by case service.

Term

There will be a trial period of three months, where either party can disengage subject to one month’s notice. Thereafter the term will be for a minimum of 24 months, with three months’ notice.

Below is an example of three of our medical Cloud accountancy solutions, if you would like more information on any of these call our team on 0800 020 9542 or email hello@JacRox.co

 

Monthly

£99.00 +VAT

£149.00+VAT £199.00+VAT
 
  • Xero Subscription
  • Xero Subscription
  • Xero Subscription
 
  • Integration with Nephex
  • Integration with Nephex
  • Integration with Nephex
 
  • Bank feeds
  • Bank feeds
  • Bank feeds
 
  • 30 minutes support via email
  • Unlimited support via email
  • Unlimited support via email
 
  • Telephone Support at £40+VAT/hour
  • Up to 30 minutes telephone support each month
  • Up to 30 minutes telephone support each month
 
  • Quarterly VAT submission for MEDCO transactions
  • Quarterly VAT submission for MEDCO transactions
 
  • Bank Reconciliation of MEDCO transactions
  • Bank Reconciliation of MEDCO transactions
 
  • Xero online training
  • Xero online training
 
  • Payroll from £12.50+VAT/month
  • Payroll for 1 Director
  • Payroll for 2 Director
 
  • Book-keeping transactions entered – £40+VAT for up to 50 MEDCO and non-MEDCO transactions
  • Book-keeping transactions entered – £40+VAT for up to 50 non-MEDCO transactions
  • Book-keeping transactions entered for up to 100 non-MEDCO transactions
 
Set up Including integrating with Nephex and setting up nominal ledger, sales invoice templates, user access and bank feeds
  • £199+VAT one off
  • £199+VAT one off
  • £199+VAT one off