Book-keeping and cloud accounting
In July 2017 HMRC announced that all businesses and individuals will have to file their tax information digitally via compatible accounting software.
What does this mean?
From April 2019, above VAT threshold (£85,000) businesses will need to make and keep their records digitally for VAT purposes in accordance with HMRC’s Making Tax Digital (MTD) directive, this will then be rolled out to all businesses and individuals.
The good news is that we are certified in the setup and operation of online accounting software which is MTD compliant and specifically designed for small and medium sized businesses.
What are the advantages of going digital?
Digital accounting software has significant advantages over the traditional ways of bookkeeping.
Imagine if you could:
- See a clear picture of your current financial position, in real-time;
- Have your accounts, 100% online, so there’s no software to install and everything is backed up automatically. Updates are free and instantly available;
- Avoid upfront accounting software costs- upgrades, maintenance, system administration costs and server failures are no longer an issue;
- Have your bank feed your data directly into your accounts on a daily basis;
- Take a photo on your phone of a purchase invoice and it will be posted automatically;
- See your financial results, who owes you money, who you owe money and your business bank balances anytime and from any device.
What can you really do with digital accounting software?
- Create and send invoices on the go
- Track sales, purchases, debtors and creditors
- Connect to your online banking
- View a snapshot of your business
- Estimate tax payments
- Easy tax filing that matches HMRC requirements
- Manage customers and suppliers
- Create estimates, purchase orders and manage your stock
Some of our clients have already gone digital here’s what they have to say:
“Amazing, I can’t believe what a difference this has made to my business”
“I love the fact we can post invoices, check the bank and see who owes us money using the App on our phone”
“We never have to do back-ups of our system again”
Sobell Rhodes offer three packages that include initial set up, training and license fees all rolled up into an easy monthly price depending on your specific needs. Our dedicated bookkeeping services team are able to provide you with the highest level of customer care whilst delivering you an unrivaled service.
If you would like to speak to our bookkeeping services and accounting team about how they may be able to assist your business, then please contact us.