Through its Making Tax Digital (MTD) programme, the Government has made clear that it expects UK businesses to be handling all financial recording and reporting digitally. Cloud accounting software, which is MTD compliant out of the box, is the easiest way to get onboard.
What is cloud accounting software? Whereas accounting software used to sit on your hard drive and run on your PC, cloud apps do their processing online. That means you can access the same financial data from your smartphone, laptop or tablet, using either a web browser or a simple mobile app. In particular, the ability to quickly scan receipts and invoices with a phone camera is a key selling point for many users.
We specialise in working with QuickBooks and Sage. Both are powerful, easy-to-use cloud accounting packages which offer similar features. QuickBooks has slightly lower licence fees but Sage has some deeper functionality that can be useful for larger businesses. Once we’ve got to know you and your needs, we’ll give a clear, direct steer on which we think is right for you.
Then, it’s about getting you set up and trained so that you can start using cloud accounting software to record expenses, log payments and monitor your cashflow situation in real time.