The government and HMRC have begun the roll out of the new tax regime, which is commonly referred to as Making Tax Digital.

VAT registered businesses with turnover over £85k are already required by law to keep their financial records digitally and report their VAT figures electronically. The government plans to roll this out to most other businesses and most other taxes shortly.

What all of this means to you in practical terms? Whether you are a large business or a new start-up it is time to manage your company’s bookkeeping to a modern standard.

All Tax Accountants have been helping businesses introduce and use digital systems for many years and are proud partners of both Xero and Quickbooks– the leading online accounting systems that enable small to medium sized business to collaborate with their team and accountants in real time.

Our two recommended bookkeeping packages, Xero and Quickbooks, are great for your bookkeeping and great for your business. Talk to us to find out which is best for your business.

Using Xero and Quickbooks allow you to automatically import your bank statements making your bank reconciliation speedy, accurate, and simple; raise quotes and invoices quickly; capture and store receipts; monitor profit and so much more. Most importantly, you can have an accurate real time view of the condition of your business.

 

Advantages of using Xero and Quickbooks with All Tax Accountants

1.  Real-time view of your cashflow. Dashboards gives you a summary of all your bank account details and balances, and shows you how much money you have coming in and going out.

2.  Manage your own billing simply. Enter your invoices quickly and efficiently, letting you create a schedule to automatically generate invoices on a regular basis – you can even email invoices directly to your customers.

3.  Anywhere, anytime. Xero and Quickbooks are web-based so you can work where you want, when you want with 24/7 access from any internet connection in the world.

  • Invoicing, expenses and track cash flow on the go
  • You can even use your smartphone! Create and send invoices automatically and get paid online
  • View all your bank balances, recent sales and upcoming bills
  • Unlimited, around the clock email support and detailed online help centre
  • Get access to instant, up-to-date reporting with quick links to all the original transactions

Getting started

Setting up your digital bookkeeping system with All Tax Accountants is a simple process.

Step 1: Come in for an ‘on-boarding’ session where we will record all the information required to open your Xero account

Step 2: All Tax Accountants will set-up the basics so that you can start recording information.

Step 3: Book a training session where we will go through how to use Xero in the most effective way for your business