For the owner-managed business, cloud accounting is a huge asset. With the right software you can work from anywhere – the office, home, holiday or on the go. It makes life simpler too: as there is no longer any need to keep paper versions of invoices or receipts. You just take a photo and upload to the system. Sending invoices and reconciling bank statements can be done in a fraction of the time.
There is new legislation called Making Tax Digital (MTD), under which HMRC wants businesses to keep digital records and submit them digitally. This means the old fashioned way of working with box of receipts has to go. Yes, you can keep spreadsheet but even this is not ideal. The legislation will come into effect from April 2019 and will gradually be applied to all businesses.
We have partnered with the most cost effective and best software in the market: QuickBooks and Kashflow. We can set you up with account using our partner discount, train you on how to get the best out of the software, and offer a quarterly review to ensure you are comfortable with them. We understand that one training might not be enough so we are always available to help you with any queries.
