Go digital with your business finances and make your processes seamless. More than ever before, we’re all going through a lot of changes in business recently and the emphasis for going digital has been at the forefront. With the increasing rate of at-home working there are many benefits to creating digital business finances.
Firstly, ahead of the Making Tax Digital requirements, there is no better time to get prepared.
- VAT-registered businesses with a taxable turnover below £85,000 will be required to follow Making Tax digital rules for their first return starting on or after April 2022.
- Self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on or after 6 April 2023.
Secondly, going digital provides simple banking, invoicing and getting paid on time. Check out some of the ways we are helping our clients and can help you to go digital with your business finances.
Here are 5 ways we can help you go digital with your business finances:
We’ve found a modern solution to business banking
From free signup, no monthly fees and powerful in-app features, Tide is a game-changer when it comes to online business banking. They make everything really simple with the choice of adding features to scale your needs with your business. There are multiple reasons we love Tide Business Banking.
We are experts in Xero
Xero is online accounting software that automates everyday business tasks. It is a tool to make life easier for business owners to keep control of their numbers. Xero includes features like invoicing, payroll and reporting. It’s a small business accounting software that has all you need to manage your accounts effortlessly and accurately.
In addition, we are experts in Xero and offer training to help you become one too. We can take you from set up, to organisation and to using your accounting software with confidence. If you’d prefer to use Quickbooks we’re experts in that too.
Go digital with your business finances and receive timely payments
Being digital significantly helps to save time by using automated processes. Another seamless part of the process can be our friends at Satago. They enable you to finance your business and manage cash flow in one platform. Consequently, you can cover cash flow gaps, manage debtors and predict credit risks all in one easy-to-use product.
We have the ability to utilise other software, including cloud-based software
We have the ability to utilise software within our services to keep you and us up-to-date. By using cloud-based software, both the accountant and client can be provided access. This saves time, ensures accuracy and gives a live view of the numbers.
Being online creates new opportunities
Furthermore, taking your business online means the opportunities extend beyond bookkeeping. We can now digitally connect business owners like you to fast and affordable finance. Funding Circle provide £10k-£500k unsecured loans to help businesses grow. The 10-minute online application means no waiting around or booking appointments during your day and you’ll receive a decision within 24 hours.
Embracing the online world is both exciting, brings new opportunities and it is a really efficient way of doing business. If you’re ready to go digital, let us know. We can help match a solution with your needs and provide the training too.