Taking advantage of digital solutions

In this insight post we set out ways to help you get the most out of your current bookkeeping software to help improve accuracy and efficiency.

Receipt Bank

Are you still typing in supplier invoices into your accounting system? Stop! ReceiptBank links with the main cloud accounting software products and can also link in with Sage 50C.

Uploading receipts via ReceiptBank saves time and reduces the risk of making errors on input. In addition, the software can be used to calculate staff/director expenses. Snap each receipt as you get then instead of saving them in your wallet, purse or handbag and delaying the task for a later date.

https://mooreandsmalley.co.uk/insight/knowledge/time-saving-and-benefits-of-receipt-bank/

Sage 50 reporting

If you are creating board reports manually from Sage 50, get in touch as we can set up one click reporting into Excel for you. We can work with you to design a report pack with all the information you need to share with your fellow directors, or whoever needs updates, including information of top customers, geographical sales break down and profitability from month to month.

https://mooreandsmalley.co.uk/insight/knowledge/save-time-by-using-excel-with-sage-50cloud-reporting/

Our top tips for 2021

Review your bookkeeping processes and look into creating “App Stacks”. There are lots of apps linking to Cloud accounting software which will help you enhance your internal processes and the customer experience.  Examples include customer relationship management, inventory systems, people management, project management and credit control.

Make sure all areas of your office are as cloud based as possible to allow for remote working, ensure it works effectively by having the right technology in place for you and your team.

2021 is likely to be very volatile and businesses need to be as up to date as possible with their finances so they can react quickly to deal with whatever hits their sector, business or family as quickly as possible.

Sign up to our MHA digital newsletter so you keep up to date with changes to software and new recommended apps.

Speak to your accountant! We want to help you be as efficient as possible so you can spend more time on what you do best – running your business

What we can expect from digital accounting in 2021?

From a cloud accounting view, I think we will see more advancements within software with regards to reporting and collating of data. There will be more changes to the VAT areas following Brexit and the construction industry domestic reverse charge.

The beauty of the cloud accounting software is that you get all the upgrades for no additionalcost, and without doing anything. The amount of apps linking with Xero and Quickbooks will continue to grow and existing ones will develop. In 2021 the digital links for Making Tax Digital (for VAT) becomes compulsory so businesses need to be review their bookkeeping processes to make sure they are complying with the rules. https://mooreandsmalley.co.uk/insight/knowledge/timeline-for-next-phase-of-mtd-now-published/

Contact us

Please get in touch with Judith Dugdale, Corporate Services Director and Head of Digital Solutions, if you need support, or alternatively contact us here.

Richard Hall

Professional: Richard commenced work with the firm in Lancaster in 1992. His clients appreciate his ‘hands on’ approach to helping them through periods of change. He is ACCA qualified and is a graduate of the Manager as Coach programme recognised by the University of Central Lancashire.

He has many years experience of working with small and medium sized businesses. He advises growing businesses in a range of sectors regarding management information, financial forecasting, strategic planning, compliance and international trade.

Richard heads up Moore and Smalley’s digital and creative team. He looks after a portfolio of clients running businesses in the digital and creative sector, many of which are based in the Lancaster area.

Personal: Richard enjoys spending time with his family and is a passionate supporter of Everton FC. He also has a prominent role as a Director of the Dukes Theatre in Lancaster.