The future is here and it is wonderful
Bookkeeping and VAT, bank reconciliations, typing in purchase and sales invoices – it is all a thing of the past, thanks to cloud accounting software.
Virtually all of our clients are now running fully on cloud accounting systems, and they are already seeing massive reductions in the time and effort required to maintain their records.
All of our clients are now fully compliant with Making Tax Digital, the HMRC regulations that came into force on 1st April 2019.
This is how the time savings are made:
- Sales invoices raised inside the programme
- Purchase invoices received by email are forwarded to automated entry system
- Bank transactions are “fed” directly into the programme using a link to the client’s bank
- VAT returns are submitted direct from the programme
We have recorded time savings of up to 80% for some clients. This can virtually remove the need for clients to employ a bookkeeper, thus generating substantial cost savings in the business.
Of course, there is a cost to the various pieces of software, but this is far outweighed by the savings in time and the sheer convenience. Clients can now raise invoices on their mobile phone, pay invoices, check their bank: in fact everything that normally happens on desktop computer.
How can Leggate Associates help?
We will undertake a free review of existing bookkeeping routines and provide a report with our recommendations. There is no obligation to use our services.
Our review comprises:
- Attending business premises
- Reviewing existing procedures
- Discussing procedures with existing bookkeeper and owner/director
- If required, review tax minimisation strategy and reviewing opportunities
- Preparation of recommendations report