Making Tax Digital

With so many accounting and payroll solutions on the market, it's hard to decide what is right for you.

Then there is the setting up (waaahhh)... but don't feel stressed.

We can help from start to finish to keep you on track, on top and fully trained so you know what you're doing!

MTD (Making tax digital) rules!

VAT registered businesses are now required to follow the making tax digital rules by keeping digital records and using software for their accounts.

This is soon to also be an obligation for most self employed businesses too as a rule set by HMRC.

With this in mind, there is no time like the present to get sorted out with some handy software.

But aside from the rules HMRC put in place, there are some fantastic benefits to your accounts being on software.

We are Sage & Xero experts!

Sage & Xero are both our go-to accounting solutions. Both software packages offer different, but equally valuable options for different businesses.

There is a very good reason why Sage is HUGE in the accounting world. Sage line 50, traditionally is better for larger more complex businesses with different departments, for charities with multiple funds and more complex trading terms. It works really well from not just an accounting perspective, but business and internal controls too, with requirements for tight credit terms, restrictions & purchase orders. With many unrivalled features, it really is up there at the top in many ways.

Xero is brilliant for simpler businesses that is totally online, so you don't have to worry about storage space for large software downloads. Their hub-doc capabilities, bank feeds, auto-entry features and simple to use and adapt reports. Xero integrates very well with other platforms such as shopify, to import all of your product SKU's for easy reporting. Very user friendly and great to work on.

Although these are our top 2 faves for bookkeeping, we do use other software too for accounting and payroll and can help you from set up, implementation, training to taking the bookkeeping off your hands too if you want a hands off approach.

Some small business owners feel initially reluctant to pay for an ongoing subscription each month. However, from as little as £30 per month, using software can save you hours in time and with the capabilities now to attach all documents to each transaction, printing all your financial documents can be a thing of the past, saving you a ton of money in printing and paper, as well as storage space.

Software is designed to make your life easier than traditional bookkeeping on excel spreadsheets and paper. With so many features enabling you to check your position, report on costs and expenses and your margins, it really is a game changer for your business.

We love software, but totally get it that others don't. So if you feel a little lost and need some advice or help, you're in exactly in the right place to get some help by contacting us.