A Tax Guide for Christmas Parties and Gifts
With Christmas just around the corner, many employers are gearing up to host their annual Christmas parties or give gifts to their employees. Before doing......
All VAT-registered businesses must use cloud accounting software, according to the Making Tax Digital rules. This doesn’t have to be a difficult change, though: we can help you to source the best software for your business and provide staff training to ensure a smooth transition.
Cloud accounting is simply bookkeeping online. Cloud accounting software allows companies to access their books remotely at any time through an internet connection. Systems allow users to send invoices, manage bills and view their real-time current financial position along with other functions. There are multiple Cloud Accounting systems to which you can subscribe, it is important to find which one best suit your business needs.
– 24/7 access to your accounts from any location, with any device that has an internet connection allowing you to run your business from anywhere.
– Achieve a real-time overview of the company’s financial position.
– Ability to grant access to your team, accountant, or bookkeeper to enable collaborative working.
– Data backups and software updates are all automated, saving time and stress.
– Your data is encrypted, meaning only those with the login details can access it.
– Online payments and other apps can be integrated into the system, allowing for quicker payments.
The cloud accounting software that we find works best with most businesses is Xero. Xero is accessible anywhere with internet access and can have unlimited users with different access rights.
– Connects directly with bank accounts.
– Links with Dext scanning software allow invoices and receipts to be easily uploaded.
– Raise sales invoices directly from Xero.
– User-friendly and better reporting features than cheaper software such as Quickbooks.
For our clients who would not like to transition fully to cloud accounting, we recommend Sage desktop. This is mainly for clients who do not require access to the software. These clients send their paperwork to us monthly or quarterly.
There are lots of options on the market and our expert team is willing to advise you on what software will work best for your business.
Cloud accounting software is also known as online accounting software or web-based accounting software. Rather than storing data and software on your personal computer or server, it is hosted on a remote server and accessed via the internet.
It is important for clients to understand how to use the software correctly to get the full potential out of Cloud Accounting. DH&Co supports clients with their cloud accounting software, providing training and guidance to ensure clients are educated. A lack of knowledge of the software can cause problems and will be far more expensive to sort in the long run.
If you require help with your bookkeeping and accounting, or advice on cloud accounting software get in touch with our expert team, who are happy to help.
Tracy Johnston is the current VAT & Bookkeeping Department Manager at DH&Co and has worked at the firm since July 2015. She has a wealth of knowledge in cloud accounting services to support our clients.
Tracy went straight into an Accountancy practice from high school and she was there for 14 years during which they provided her with training, so she could complete her Certified Accounting Technician (CAT).
With over 18 years of experience, Tracy has gained a strong and varied breadth of knowledge within the industry. The variety of work is, in Tracy’s opinion, the most enjoyable element of working at DH & Co. She mentions that ‘from small sole trader businesses to bigger companies, from high street shops, to pubs and restaurants, to farms, to charities, the list is endless. The department also gets a lot of one-off requests from clients, for example; software setups and providing training, covering maternity leave, review of bespoke systems, queries on different VAT Schemes, preparing VAT registrations/de-registrations on their behalf.’
“We are really enjoying working with the team at Douglas Home & Company. Their professionalism and proactive approach to providing a wide range of financial services has already enabled us to work more efficiently streamlining some of our internal processes.”
All VAT-registered businesses must submit digital tax returns, according to the Making Tax Digital scheme. The switch may seem difficult at first but we can help you manage the transition by suggesting the best software for your business.
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As well as Cloud Accounting support, we also offer a range of other Business Compliance Services to meet your Accountancy needs:
With offices located across Scotland and North England, we can meet where it is most convenient for you
Our specialists have knowledge spanning many different sectors including agriculture, property, hospitality and medical businesses
Our highly experienced directors are involved at all levels of the business, making sure you are getting the best service possible
We take a modern and fresh approach, helping businesses think outside the box and secure exciting opportunities
We work as an extension to your business, getting to know your unique needs
We are business development specialists, helping your business to go further
