Cloud based software for accounting and bookkeeping
Many people now choose to use cloud based software for accounting and bookkeeping.
With Making Tax Digital on the way (launched from April 19), now is the best time to look into using such software.
Making Tax Digital (MTD) means you can’t now keep and submit manual records. Instead, HMRC will only accept VAT returns sent using software that supports Making Tax Digital for VAT.
The programmes can scan your receipts, input information about your cash flow and even generate invoices. You can check out a comparison of some of the popular apps here. Software is also a great way to keep your records backed up.
With cloud software, we would recommend Xero, although we do use others such as Sage Cloud and QuickBooks. (Xero and QuickBooks are the most advertised and probably easiest to learn! There are so many that we cannot mention them all!)
But they all have very good functions and both the client and ourselves can have access so that we can step in and help when a client gets tangled up.
We tend to work with clients who raise their own quotes and invoices and then we deal with the purchases and reconcile the bank transactions to assist in preparing annual accounts and VAT returns.
Links to other software
Some of the differing cloud software’s also link with other software like Receipt Bank and Hubdoc to upload receipts. They also connect to all of the major banks and other income providers such as Paypal, Stripe and Go Cardless.
Some of these apps are used on customer invoices online to enable our client’s customer to pay them quicker!
We want to work with you to make your bookkeeping truly as simple as possible and will gladly give you our verdict on the best could best software’s from our experience and work with you.
If you are getting worried about Making Tax Digital, don’t! Just give The Hollies Bookkeeping a call on 01743 790086, email us at email@example.com, or you can always pop into our offices in Pontesbury any time for a cuppa and a chat!